Alstom Unsp/Adr (ALSMY) Q1 2027 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Alstom twenty twenty sixtwenty twenty seven First Quarter Orders and Sales Conference Call. For the first part of the conference call, the participants will be in listen only mode. During the questions and answer session, participants are able to ask questions by dialing 5 on their telephone keypad. Now I will hand the conference over to Bernard Delpy, Executive Vice President and CFO. Sir, please go ahead. Thank you. Good morning, everyone, and thanks for joining Alstom's orders and sales update for the first quarter of fiscal year twenty twenty six-twenty twenty seven. And let's start with orders on Slide three. The group recorded €2,600,000,000 of order intake in the first quarter. This represents a book to bill ratio of 0.5 compared with 0.9 in Q1 last year. Similar to prior years, we expect order intake to accelerate in the coming months and reach a book to bill ratio above 1% for the full year, starting with Q2, where we also expect a book to bill above one. Some additional color by product line and region. Rolling stock was the largest contributor this quarter, representing around €1,200,000,000 of orders. In particular, the group was awarded a locomotive contract in the Africa, Middle East and Central Asia region for €800,000,000 Services delivered a solid performance with €800,000,000 of order intake, with, in particular, contracts for locomotive maintenance in India and several service contracts in Northern Europe. Signalling recorded €600,000,000 of orders, benefiting notably from around €300,000,000 of orders in Egypt. So as a whole, a low volume but good quality of order intake, with locomotives being a form we push for and with average margin on new orders being accretive to overall gross margin in the backlog. At the end of June, the bac...