Shareholders’ Meeting 26 June 2012
Emmanuel VUILLARD Deputy General Counsel
• Agenda of the Shareholders’ Meeting : Notice of Meeting, page 3 • Resolutions : Notice of Meeting, pages 32 to 40
Patrick KRON Chairman and Chief Executive Officer
Alstom & You Patrick Kron
Shareholding structure As of 31 March 2012 1.5% 4% 6% Institutions France 20% Bouygues Rest of Europe 31% 53% Individual shareholders Americas 23% 61.5% Employees Asia and Middle East You are 230,000 shareholders P 6
Share price evolution A share price enduring the financial markets’ turbulences 40 In € 35 30 ALSTOM 25 CAC 40 INDEX 20 15 10 January-12 February-12 March-12 April-12 May-12 June-12 Alstom basis: €24.095 as of 2 January 2012 P 7
Dividend A dividend increased by almost 30% • Payment date: 3 July 2012 In € per share 1.24 1.12 0.80*** 0.80 0.62 0.40 40%** 32% 30% Pay-out ratio 29% 27% 25% XX% 2005/06 2006/07* 2007/08* 2008/09 2009/10 2010/11 2011/12 * Adjusted from the split ** Net result impacted by exceptionally high restructuring charges P 8 *** Proposed to your vote
Your information A permanent dialogue with individual shareholders Shareholders Dedicated Site visits Information letter email address meetings Contact us Investor.relations@chq.alstom.com www.alstom.com Investors section P 9
Alstom in 2011/12 Patrick Kron
Three main activities organised in four operational Sectors Among the top 3 global players for its core activities Power generation Thermal Power Sector Renewable Power Sector 25% of the worldwide installed power generation capacity uses Alstom’s technologies Power transmission Rail transportation Grid Sector Transport Sector Leading positions in Alstom manufactures key equipment and 1 metro out of 4 and technologies 1 tram out of 4 P 11
A balanced portfolio A worldwide presence As of 31 March 2012 92,600 employees Sales ~ €20 billion 36,600 25% Thermal Power Developed countries 56,000 45% Renewable Power Emerging countries Grid Transport 20% 10% P 12
Corporate Social Responsibility and Sustainable Development committments (1/2) At the core of the strategy A committment to sustainable development now • recognised by rating agencies (SAM) A range of environmentally-friendly products and • solutions A regular reduction of the environmental impact of • industrial sites Local actions in favour of the environment (Alstom • Foundation) P 13
Corporate Social Responsibility and Sustainable Development committments (2/2) Better working conditions with top priority given to safety • An ethics programme deployed throughout the Group • Teams’ mobilisation for innovation • Injury Frequency Rate (12 rolling months) – ALSTOM employees 7.6 8 6.3 7 5.5 6 5.1 4.6 5 3.7 4 2.8 2.4 2.3 3 2.0 1.9 1.9 1.8 2 1 0 03/2006 09/2006 03/2007 09/2007 03/2008 09/2008 03/2009 09/2009 03/2010 09/2010 03/2011 09/2011 03/2012 P 14
Full year results 2011/12 Results strictly in line with guidance A sustained commercial activity • A sequential recovery of sales • An operating margin above 7% • A positive free cash flow in the second semester • P 15
Preparing the future Today’s orders are tomorrow’s sales In € billion • Sound level of orders in 2011/12 : a 12 11.5 14% increase compared to 2010/11 10.2 7.8 7.1 7 • 60% of orders coming from emerging countries • Backlog amounting to around H1 H2 H1 H2 H1 H2 €50 billion 2009/10 2010/11 2011/12 Emerging countries Developed countries P 16
Preparing the future Innovation, a driver of growth • R&D expenses maintained at a high level • Major successes in the 4 Sectors P 17
Preparing the future Steady investments, particularly in emerging markets Evolution of capex in emerging countries In € million 224 Tianjin - China China 167 69 Brazil 110 India 51 69 Other emerging 44 56 Porto Alegre - Brazil 45 Chennai - India Mundra - India 39 14 12 41 33 Bahia - Brazil 28 2009/10 2010/11 2011/12
Preparing the future A partnership policy strengthened in the BRICs JV with Atomenergomash New partnerships in Russia JVs with Transmasholding * To be finalised INTER RAOUES New partnerships in China RENOVA Rostechnologies Global partnership with SEC in boilers* KER JV with Bardella 5 JV Transport + partnerships for EMU and locomotives New partnerships in Kazakhstan 3 JV Power + partnership in nuclear 9 JV Grid Footprint Grid New partnership in India Power Transport & JV with Bharat Forge Existing partnerships Cooperation agreement with BHEL JV with NTPC in Service Recent partnerships P 19 Grid n°1 in India
Preparing the future Some capacities adapted to lower demand SITUATION PROGRAMME 31/03/2012 THERMAL POWER Restructuring plan Reduction of 3,500 permanent by March 2012 (-20% of employees in Western Europe and NAM) largely completed TRANSPORT Restructuring plan achieved Reduction of 1,380 positions by March 2013 at more than 50% (-8% of employees in Western Europe) P 20
Thermal Power Philippe Cochet
Offering and positioning GAS STEAM NUCLEAR Coal/oil power plants & Integrated solutions for Gas power plants & components conventional islands & components 37,500 employees components AQCS Air Quality Control Systems For reliable, competitive and clean Power Automation & Controls PAC power generation Installed Base Services THERMAL SERVICES P 22
Key figures Strong rebound of orders and increase of operating margin In € million Orders Sales Income from operations and operating margin 9,725 -10% 9,366 879 +17% -3% 8,726 850 7,975 9.7% 9.0% 2010/11 2011/12 2010/11 2011/12 2010/11 2011/12 P 23
Main events 2011/12 Solid level of orders in a sluggish environment • A stronger presence in emerging countries • A better balance between turnkey contracts and component sales : − 14 gas turbines (including 6 in Russia) − 3 large steam power plants in Asia and Eastern Europe − Steam turbine – generators for a nuclear power plant in Russia − Partnership agreement in China for CO 2 Capture and Storage P 24
Main events 2011/12 Investments maintained at a high level • A sustained effort in Research & Development for next generation of gas Capex turbines • Design of efficient boilers adapted to the Asian and Middle East markets Mundra • Significant investment in production capacities with new facilities to address the Indian market Durgapur Shahabad Belfort P 25
Strategic priorities Further develop service activity • Expand business in Asia, Russia and Middle East • Growth Growth Strengthen presence on the 60 Hz market (USA) • Grow component sales • Develop the next generations of gas turbines • Innovation Innovation Keep a technological edge in steam turbines & generators • Develop offering of Power Automation & Controls systems • Reinforce actions on safety • Operational Operational Improve quality • excellence excellence Reduce lead times and improve cost competitiveness • P 26
Renewable Power Jérôme Pécresse
Offering and positionning HYDRO 9,500 employees OFFSHORE WIND ONSHORE WIND Technologies adapted to THERMAL SOLAR all sources of renewable energy for the new build and the installed base GEOTHERMAL BIOMASS TIDAL WAVE
Key figures Increase in orders and sales In € million Orders Sales Income from operations and operating margin 2,026 +5% +4% 2,027 1,941 1,936 173 -13% 150 7.4% 8.9% 2010/11 2011/12 2010/11 2011/12 2010/11 2011/12 P 29
Main events 2011/12 A sustained level of orders accross the board Several major contracts in mature and emerging markets • Hydro: Tehri (India), Santo Antonio do Jari (Brazil), Chaglia (Peru) • Offshore wind: Saint-Nazaire, Courseulles-sur-Mer, Fécamp (France) • Onshore wind: Taza (Morocco), Miassaba, Rio Dos Ventos (Brazil) • Solar: studies for Sasol (South Africa) • Biomass: Plainfield, South Boston (USA) • Solar - Sasol FEED Study - South Africa Hydro - Tehri 1,000 MW - India Wind - Taza 150 MW - Morocco Biomass - S. Boston 50 MW - USA P 30
Main events 2011/12 Key investments to develop technological portfolio and industrial set up closer to the markets • Sustained Research & Development spending: Largest offshore wind turbine launched - Haliade 150 – 6MW Hydro technological centres in Canada (Sorel-Tracy) and in Brazil (Taubaté) Haliade 150 – 6MW • New manufacturing sites in fast growing markets: hydro in Ufa (Russia), onshore wind in Bahia (Brazil) • Creation of a new business « New Energies » encompassing solar, geothermal, biomass as well as wave and tidal energies Bahia - Brazil P 31
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