Slide 1: Annual results 2011/12
Annual results 2011/12 Patrick Kron 4 May 2012
Slide 2: Annual results 2011/12
Annual results 2011/12 Main events 2011/12 Financial results 2011/12 Outlook Annual results 2011/12– 4 May 2012 – P 2
Slide 3: Main events 2011/12
Main events 2011/12 Results in line with guidance, high level of orders ● 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 opera
Slide 4: Solid commercial activity thanks to emerging markets
Main events 2011/12 Solid commercial activity over the last 18 months, thanks to emerging markets 12 11.5 10.2 ● Sound level of orders 7.8 − A 14% increase compared to FY 2010/11 7.1 7 − €6.6 billion in new orders during the 4th quarter ● 60% of orders from emerging markets S1 S2 S1 S2 S1 S2 2009/10
Slide 5: First success in the offshore wind market
Main events 2011/12 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, Course
Slide 6: New partnerships in Russia and CIS
Main events 2011/12 New partnerships in Russia and CIS ● 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 tram
Slide 7: Continued focus on technology and innovation
Main events 2011/12 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 : commerci
Slide 8: Capital expenditures targeting emerging markets
Main events 2011/12 Capital expenditures targeting emerging markets Capital expenditures in emerging ● Thermal Power markets − Steam turbines : Alstom/Bharat Forge common In € million plant under construction in India 224 ● Renewable Power 167 69 − Wind : new assembly plant in Bahia, Brazil − Hydro
Slide 9: Annual results 2011/12
Annual results 2011/12 Main events 2011/12 Financial results 2011/12 Outlook Annual results 2011/12– 4 May 2012 – P 9
Slide 10: Group order intake
Group order intake Growth in the four activity sectors + 14% 21.7 19.1 9.4 Thermal Power Thermal Power 8 + 17% 2 Renewable Power Renewable Power 1.9 + 5% 4 Grid Grid 3.5* Transport 5.7 + 11% 6.3 Transport *Grid consolidated from June 2010 to March 2011 2010/11 2011/12 In € billion / Actual figures A
Slide 11: Orders received by destination in 2011/12
Orders received by destination in 2011/12 Thermal Power Renewable Power Grid Transport Europe 44% North America 12% Asia-Pacific 25% Africa Middle East Latin America 13% 6% Annual results 2011/12– 4 May 2012 – P 11
Slide 12: Group backlog
Group backlog Backlog representing 30 months of sales 46.8 + 5% 49.3 Thermal Power 18 18.8 Thermal Power Renewable Power 4.2 4.3 Renewable Power 5 Grid Grid 5.1* Transport 19.5 21.2 Transport *Grid consolidated from June 2010 to March 2011 2010/11 2011/12 In € billion / Actual figures Annual results
Slide 13: Thermal Power - Main contracts and agreements
Thermal Power - Main contracts and agreements Steam 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 Gas 14 gas turbines sold in R
Slide 14: Renewable Power - Main contracts and agreements
Renewable Power - Main contracts and agreements Hydro Latin America : equipment for hydro plants in Brazil and Peru India : 1st pumped-storage power plant under construction Wind Brazil : contracts for 8 onshore wind farms Ethiopia : 54 ECO74 turbines New energies Acquisition of a 40% stak
Slide 15: Grid - Main contracts and agreements
Grid - Main contracts and agreements 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
Slide 16: Transport - Main contracts and agreements
Transport - Main contracts and agreements Locomotives Russia : order of 200 freight electric locomotives for Alstom/TMH High and very high speed Poland : contract for 20 Pendolino and maintenance France : 30 Euroduplex for SNCF Regional and suburban trains Germany : 56 Coradia trains in Köln
Slide 17: Group sales
Group sales Gradual recovery after a low point in 1st quarter - 5% 20.9 19.9 Thermal Power 9.7 - 10% 8.7 Thermal Power Renewable Power 1.9 + 4% 2 Renewable Power Grid 3.7* 4 Grid Transport 5.6 - 8% 5.2 Transport *Grid consolidated from June 2010 to March 2011 2010/11 2011/12 In € billion / Actual fi
Slide 18: Group income from operations and operating margin
Group income from operations and operating margin Operating performance impacted by low sales, in line with guidance - 10% 7.5% 7.1% 1,570 1,406 2010/11 2011/12 In € million / Actual figures Annual results 2011/12– 4 May 2012 – P 18
Slide 19: Income from operations and operating margin by Sector
Income from operations and operating margin by Sector Thermal Power Renewable Power 9% 9.7 % 879 850 8.9 % 7.4 % 173 150 2010/11 2011/12 2010/11 2011/12 Grid Transport 7.1 % 6% 6.2 % 398 5.1 % 218* 248 264 *Grid consolidated from June 2010 to March 2011 2010/11 2011/12 2010/11 2011/12 Annual results
Slide 20: Group net income
Group net income Increase in net income + 58 % 732 462 2010/11 2011/12 In € million / Actual figures Annual results 2011/12– 4 May 2012 – P 20
Slide 21: Rise in net debt
Rise in net debt Net debt impacted by a negative free cash flow (1,286) Net debt (573) 31 March 2011 Free cash flow (183) Dividends (303) 2010/11 (2,492) (147) Acquisitions Others Net debt 31 March 2012 In € million / Actual figures Annual results 2011/12– 4 May 2012 – P 21
Slide 22: A strong balance sheet
A strong balance sheet Rise in equity 4,434 4 152 4,152 31 March 2011 31 March 2012 In € million / Actual figures Annual results 2011/12– 4 May 2012 – P 22
Slide 23: Annual results 2011/12
Annual results 2011/12 Main events 2011/12 Financial results 2011/12 Outlook Annual results 2011/12– 4 May 2012 – P 23
Slide 24: Strategic priorities
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
Slide 25: Guidance over 3 years (FY 2012/13 to FY2014/15)
Guidance over 3 years (FY 2012/13 to FY2014/15) Assuming a sound level of orders over the period ● 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 Annual results 2011/12–
Slide 26: www.alstom.com
www.alstom.com