May 12, 2020 / 7:22 AM / 18 days ago

BRIEF-Alstom Withdraws Dividend, Sees Negative COVID-19 Impact On FY Performance

May 12 (Reuters) - ALSTOM SA:

* FY ORDERS BACKLOG EUR 40.90 BILLION VERSUS EUR 40.48 BILLION YEAR AGO

* FY SALES EUR 8.20 BILLION VERSUS EUR 8.07 BILLION YEAR AGO

* FY ADJUSTED EBIT EUR 630 MILLION VERSUS EUR 606 MILLION YEAR AGO

* END-FY NET CASH EUR 1.18 BILLION VERSUS EUR 2.33 BILLION YEAR AGO

* FY NET INCOME GROUP SHARE EUR 446 MILLION VERSUS EUR 433 MILLION YEAR AGO

* END-FY FREE CASH FLOW EUR 206 MILLION VERSUS EUR 153 MILLION YEAR AGO

* OBJECTIVE OF 5% AVERAGE ANNUAL SALES GROWTH OVER THE PERIOD 2019/20 – 2022/23 SHOULD BE SLIGHTLY IMPACTED BY COVID-19

* ON BOMBARDIER DEAL: CLOSING IS EXPECTED IN H1 2021

* 2022/23 OBJECTIVES OF 9% AEBIT MARGIN AND ABOVE 80% FCF / NET INCOME RATIO CONFIRMED

* BOARD OF DIRECTORS DECIDED AS AN EXCEPTIONAL MEASURE NOT TO PROPOSE A DIVIDEND DISTRIBUTION AT THE NEXT SHAREHOLDERS’ MEETING ON JULY 8

* IMPACT OF COVID-19 ON SALES IN FY 2019/20 IS ASSESSED TO BE C. EUR 100 MILLION, MOSTLY ON ROLLING STOCK DUE TO THE SLOWDOWN OF SALES RECOGNITION DURING THE CONTAINMENT PERIOD

* IMPACT OF COVID-19 CRISIS ON 2020/21 TO BE FURTHER ASSESSED

* IMPACT OF COVID-19: IDENTIFIED INEFFICIENCIES AND INCREMENTAL COSTS IMPACTING THE COST OF SALES REPRESENT €24 MILLION IN FISCAL YEAR 2019/20 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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