Annual results 2011/12 Patrick Kron 4 May 2012 Annual results - - PowerPoint PPT Presentation

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Annual results 2011/12 Patrick Kron 4 May 2012 Annual results - - PowerPoint PPT Presentation

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Annual results 2011/12 Patrick Kron 4 May 2012 Annual results 2011/12 Main events 2011/12 Financial results 2011/12 Outlook Annual results 2011/12 4 May 2012 P 2 Main events 2011/12 Results in line with guidance, high level of orders

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SLIDE 1

Patrick Kron

4 May 2012

Annual results 2011/12

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SLIDE 2

Annual results 2011/12

Main events 2011/12 Financial results 2011/12 Outlook

Annual results 2011/12– 4 May 2012 – P 2

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SLIDE 3

Main events 2011/12

  • A solid commercial activity

− Orders at €21.7 billion (+14%) during the fiscal year 2011/12 − Strong rise during 4th quarter with €6.6 billion in new orders − Backlog equal to around €50 billion (30 months of sales)

  • An operational performance in line with guidance

− Sales at €19.9 billion (-5%) due to the drop in past orders but increasing during the fiscal year − Operating margin at 7.1% − Net income at €732 million (+58%) − Positive free cash flow in the second half (€341 million)

  • A solid balance sheet

− €4.4 billion in equity, €2.5 billion in net debt

Results in line with guidance, high level of orders

Annual results 2011/12– 4 May 2012 – P 3

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SLIDE 4

Solid commercial activity over the last 18 months, thanks to emerging markets

  • Sound level of orders

− A 14% increase compared to FY 2010/11 − €6.6 billion in new orders during the 4th quarter

  • 60% of orders from emerging markets

Main events 2011/12

Emerging countries Developed countries

S1 S2 2009/10 S1 S2 2010/11 S1 S2 2011/12 7.1

In € billion

7.8 7 12 10.2 11.5

Annual results 2011/12– 4 May 2012 – P 4

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SLIDE 5

First success in the offshore wind market

  • Alstom wins the largest part of the 1st offshore tender in

France

− Alstom, exclusive supplier to the consortium including EDF EN, Dong Energy, Nass&Wind, WPD Offshore − 240 6 MW offshore turbines − 3 wind farms in Saint-Nazaire, Courseulles-sur-Mer, Fécamp

  • An industrial plan to create 5,000 jobs in France

− 4 plants in Saint-Nazaire and Cherbourg − 1 R&D and engineering centre − 1,000 direct jobs, 4,000 indirect jobs

  • A state-of-the-art industry to meet the needs of French and

European markets

Main events 2011/12

Annual results 2011/12– 4 May 2012 – P 5

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SLIDE 6

New partnerships in Russia and CIS

Main events 2011/12

  • Transport

− Acquisition of a 25% stake in Transmashholding (TMH) − Joint ventures with TMH and Kazakh railways (KTZ) for rolling stock; in signalling with Promelectronica − Cooperation agreement with the city of Saint-Petersburg regarding tramways

  • Thermal Power

− Cooperation agreements with Renova and Rushydro for thermal power plant equipment

  • Renewable Power

− Joint venture with Rushydro to manufacture hydro turbines

  • Grid

− Cooperation agreement with Soyuz (high voltage equipment) and joint venture with KER (HVDC)

Annual results 2011/12– 4 May 2012 – P 6

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Continued focus on technology and innovation

  • High level of R&D expenses at €682 million
  • Major programmes in the 4 Sectors

− Thermal Power : new ranges of GT26, GT24 and GT13 gas turbines − Renewable Power : first Haliade 150 - 6 MW offshore wind turbine − Transport : commercial launch of AGV.italo on 28 April in Italy − Grid : new high voltage direct current technology (HVDC)

Main events 2011/12

Annual results 2011/12– 4 May 2012 – P 7

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SLIDE 8
  • Thermal Power

− Steam turbines : Alstom/Bharat Forge common plant under construction in India

  • Renewable Power

− Wind : new assembly plant in Bahia, Brazil − Hydro : extension of the plants in Tianjin, China, and Vadodara, India

  • Transport

− Construction of a metro plant in Chennai, India

  • Grid

− Very high voltage test laboratory in Canoas, Brazil

Capital expenditures targeting emerging markets

Main events 2011/12

China

2010/11 2009/10

Brazil India Other emerging

2011/12 56 14 12 51 44 39 69 69 45

In € million

110 167 224

28 33 41

Capital expenditures in emerging markets

Annual results 2011/12– 4 May 2012 – P 8

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SLIDE 9

Annual results 2011/12

Main events 2011/12 Financial results 2011/12 Outlook

Annual results 2011/12– 4 May 2012 – P 9

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2010/11 2011/12

In € billion / Actual figures

Group order intake

+ 14%

Growth in the four activity sectors

19.1 21.7

Transport Grid

+ 17% + 5% + 11%

Transport Grid

5.7 6.3 3.5* 4 1.9 2 9.4 8

Thermal Power Renewable Power Thermal Power Renewable Power

Annual results 2011/12– 4 May 2012 – P 10 *Grid consolidated from June 2010 to March 2011

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SLIDE 11

Orders received by destination in 2011/12

Thermal Power Grid Transport Renewable Power

Africa Middle East 13% Latin America 6% Asia-Pacific 25% North America 12% Europe 44%

Annual results 2011/12– 4 May 2012 – P 11

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49.3

2011/12

In € billion / Actual figures

Group backlog

Backlog representing 30 months of sales

+ 5%

Transport Grid Transport Grid

2010/11

46.8

19.5 21.2 5.1* 5 4.2 4.3 18.8 18

Thermal Power Renewable Power Thermal Power Renewable Power

Annual results 2011/12– 4 May 2012 – P 12 *Grid consolidated from June 2010 to March 2011

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Thermal Power - Main contracts and agreements

Steam Gas

 Coal : 3 high-performance power plants (2 in Malaysia, 1 in Estonia)  Nuclear : conventional island for a power plant in Russia  Environmental control systems in Saudi Arabia, United Arab Emirates,

USA and Taiwan

 Long term service agreements in USA, Singapore and Malaysia

Services

 14 gas turbines sold in Russia, Iraq, Bangladesh, Singapore, Nigeria and

Mexico

Annual results 2011/12– 4 May 2012 – P 13

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Hydro Wind

 Latin America : equipment for hydro plants in Brazil and Peru  India : 1st pumped-storage power plant under construction  Acquisition of a 40% stake in AWS Ocean Energy and creation of a joint

venture with SSE Renewables in the ocean energy sector

New energies

 Brazil : contracts for 8 onshore wind farms  Ethiopia : 54 ECO74 turbines

Renewable Power - Main contracts and agreements

Annual results 2011/12– 4 May 2012 – P 14

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Contracts

 Europe : HVDC link in Sweden  Middle East : modernisation of the electric grid in Saudi Arabia, GIS

substation and power transformers in Iraq

 Asia-Pacific : substations in Australia and India  CIS : renovation of a GIS substation for a hydro plant in Tadjikistan

Grid - Main contracts and agreements

 Cooperation agrements with Soyuz and KER in Russia  Integration of UISol (USA) and Psymetrix (United Kingdom), smart

grids specialists

Partnerships and acquisitions

Annual results 2011/12– 4 May 2012 – P 15

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Locomotives

 Russia : order of 200 freight electric locomotives for Alstom/TMH

Transport - Main contracts and agreements

 United Kingdom: turnkey tramway system and maintenance in

Nottingham

 Contracts for Paris and Singapore metros

Regional and suburban trains

 Germany : 56 Coradia trains in Köln and 90 EMUs in Frankfurt  Denmark : signalling system for the Eastern part of national railway

network

High and very high speed

 Poland : contract for 20 Pendolino and maintenance  France : 30 Euroduplex for SNCF

Metros and tramways

Annual results 2011/12– 4 May 2012 – P 16

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2010/11

Group sales

Gradual recovery after a low point in 1st quarter

In € billion / Actual figures

  • 5%
  • 10%

2011/12

  • 8%

Thermal Power Transport Grid Renewable Power Thermal Power Transport Grid Renewable Power

+ 4%

20.9 19.9

5.6 5.2 3.7* 4 1.9 2 8.7 9.7

*Grid consolidated from June 2010 to March 2011 Annual results 2011/12– 4 May 2012 – P 17

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SLIDE 18

2011/12

Group income from operations and operating margin

Operating performance impacted by low sales, in line with guidance

7.5% 1,570

In € million / Actual figures

2010/11

  • 10%

1,406 7.1%

Annual results 2011/12– 4 May 2012 – P 18

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SLIDE 19

Thermal Power Transport Grid Renewable Power

2010/11 2011/12

879 9.7 % 9 % 850

2010/11 2011/12

7.4 % 8.9 %

2010/11 2011/12

218* 6.2 % 6 % 248

2010/11 2011/12

5.1 % 7.1 % 398 264

In € million / Actual figures

Income from operations and operating margin by Sector

*Grid consolidated from June 2010 to March 2011 Annual results 2011/12– 4 May 2012 – P 19

173 150

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2010/11

Group net income

462

In € million / Actual figures

2011/12

+ 58 % 732

Increase in net income

Annual results 2011/12– 4 May 2012 – P 20

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Rise in net debt

Net debt impacted by a negative free cash flow

In € million / Actual figures

(1,286) (2,492)

Net debt 31 March 2011 Net debt 31 March 2012

Free cash flow Acquisitions Others Dividends 2010/11

Annual results 2011/12– 4 May 2012 – P 21

(573) (183) (303) (147)

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31 March 2011 31 March 2012

Rise in equity

A strong balance sheet

4 152

In € million / Actual figures

4,152 4,434

Annual results 2011/12– 4 May 2012 – P 22

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SLIDE 23

Annual results 2011/12

Main events 2011/12 Financial results 2011/12 Outlook

Annual results 2011/12– 4 May 2012 – P 23

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Strategic priorities

  • Fuel growth by extending global footprint and product offering
  • Continue R&D programmes to remain a leader in all key technologies
  • Sustain growth in emerging markets through targeted capital expenditure
  • Improve performance through excellence in project execution and cost

control

Annual results 2011/12– 4 May 2012 – P 24

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Guidance over 3 years (FY 2012/13 to FY2014/15)

  • Sales should increase by 5% per year
  • Operating margin should gradually improve to around 8% in March 2015
  • Free cash flow should be positive in each of the three coming years

Assuming a sound level of orders over the period

Annual results 2011/12– 4 May 2012 – P 25

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