PARIS (Reuters) - French manufacturing group Alstom (ALSO.PA), which is merging its rail operations with Germany’s Siemens (SIEGn.DE), reported higher first-quarter sales and added it was making good progress on the Siemens deal.
Alstom said sales rose 14 percent from last year to 2.02 billion euros ($2.35 billion), helped by metro contract wins in the Middle East and Montreal.
Alstom also maintained its financial outlook for sales of around 8 billion euros and a core profit margin of up to 7 percent for the 2018/2019 fiscal year.
Last year, Siemens and Alstom agreed to merge their rail operations, creating a European champion to challenge the advance of China’s state-owned CRRC (601766.SS).
The European Union’s anti-trust regulators have opened a full-scale investigation into the deal, while Alstom said it expected the transaction to be closed in the first half of 2019.
Reporting by Sudip Kar-Gupta; Editing by Sunil Nair