Alstom Sa · EURONEXT:ALO
Alstom Sa — FY2012/13 Earnings Presentation
28 slides from Alstom Sa's earnings presentation, May 6, 2013
Slide 1: EPG Presentation
EPG Presentation Patrick Kron - CEO May 2013
Slide 2: Agenda
Agenda 1. Key figures 2012/13 2. Preparing future performance 3. Adapting to current challenging environment 4. Appendices P2
Slide 3: Key figures 2012/13
Key figures 2012/13 In € million A robust performance in 2012/13 March 2012 March 2013 Variation Orders 21,706 23,770 +10% Book-to-bill ratio 1.09 1.17 Backlog 49,269 52,875 +7% Sales 19,934 20,269 +2% Income from operations 1,406 1,463 +4% Operating margin 7.1% 7.2% Net income 732 802 +10% Free cas
Slide 4: Alstom's portfolio
Alstom’s portfolio A balanced portfolio with leading positions Sales breakdown FY 2012/13 Services: A growth lever in an uncertain environment P4
Slide 5: Agenda
Agenda 1. Key figures 2012/13 2. Preparing future performance 3. Adapting to current challenging environment 4. Appendices P5
Slide 6: Strong backlog
Strong backlog Orders momentum supported by geographical redeployment Examples of major FY2012/13 commercial successes Order intake by geography In € billion 21.7 23.8 THERMAL POWER RENEWABLE POWER 19.1 1.1 1.2 14.9 • 12 turbines sold vs 14 • 2 major projects in 2012/13: 0.9 in FY11/12 (5.0 GW Hydro
Slide 7: R&D – a key pillar of Alstom strategy
R&D – a key pillar of Alstom strategy Recent R&D efforts paying-off R&D expenses R&D expenses: 3.6% of sales in FY2012/13 Grid integration 703 737 • Enhancing leadership in traditional segments, 682 and 554 586 558 3.4% 3.4% • Allowing new entry or further penetration of 3.6% fast growing and high
Slide 8: Innovative product offering
Innovative product offering New products* : 20% of 2012/13 (equipment) orders Equipment orders FY 2012/13 Key examples of new products THERMAL POWER RENEWABLE POWER • Upgraded GT26, GT13 • Eco 122 wind turbines • Power automation and • Variable pump storage in control Hydro GRID TRANSPORT • HVDC (UH
Slide 9: Sustained CAPEX for future growth
Sustained CAPEX for future growth CAPEX focused on strategic priorities In € million CAPEX 2012/13 CAPEX by Sector 521 470 504 43% 505 38% 361 297 315 334 34% 9% 23% 29% 170 224 190 109 23% FY2009/10 FY2010/11* FY2011/12 FY2012/13 Emerging markets Mature markets % of emerging markets 17% 22% * With
Slide 10: Agenda
Agenda 1. Key figures 2012/13 2. Preparing future performance 3. Adapting to current challenging environment 4. Appendices P 10
Slide 11: Market environment remaining challenging
Market environment remaining challenging Short-term contrasted demand THERMAL POWER RENEWABLE 33% POWER 40% Gas Hydro • Growing overall share in energy mix despite postponed New market recovery in mature countries • Current slowdown, but growth expected to resume Installed base Steam • Growing rehab
Slide 12: Market environment remaining challenging
Market environment remaining challenging Short-term contrasted demand GRID TRANSPORT 33% 40% HVDC Rolling stock • Strong demand in HVDC market with solid key drivers • Continued expansion in urban and regional rolling stock (renewable energy integration, Supergrid development, • Europe remaining sou
Slide 13: Optimisation of operational footprint
Optimisation of operational footprint Efficiency improvement and positioning in high growth markets Ufa Hydro Kassel Grid Sorel Tracy Transport France Wind Astana Transport France Hydro Chingang Grid Chattanooga Thermal Spain Wind Shanghai Grid Annaba, Transport Bhutan Hydro
Slide 14: Operational excellence – cost competitiveness
Operational excellence – cost competitiveness Efficiency measures in place • Thermal Ddd Power Renewable • Ddd Power • Ddd Grid Transport • Ddd Supply chain/Sourcing • Standardisation • Restructuring of • Restructuring of • Optimising • Increase LCC sourcing content & modularisation industrial base
Slide 15: Operational excellence – cash focus
Operational excellence – cash focus Constant effort on Free Cash Flow All Sectors striving to optimise working capital components, notably through • Lead-time reduction • Decrease of inventories • Tighter management on payables and receivables Prioritisation of capex • Level expected to remain s
Slide 16: Outlook
Outlook CONTEXT OUTLOOK Robust 2012/13 performance • Sales to grow organically at low single digit Short-term performance expected to be impacted by • Lower volumes driven by • IFO margin expected to gradually increase with • A more challenging environment than initially expected • Stable IFO ma
Slide 17: Contacts & agenda
Contacts & agenda CONTACTS AGENDA Delphine BRAULT Vice President Investor Relations 28 May 2013 +33 (0)1 41 49 26 42 Filing of Registration Document Anouch MKHITARIAN Investor Relations Manager +33 (0)1 41 49 25 13 02 July 2013 Perrine DE GASTINES Individual Shareholders Coordinator Annual General M
Slide 18: Disclaimer
Disclaimer This presentation contains forward-looking statements which are based on current plans and forecasts of Alstom’s management. Such forward-looking statements are by their nature subject to a number of important risk and uncertainty factors (such as those described in the documents filed by
Slide 19: Agenda
Agenda 1. Key figures 2012/13 2. Preparing future performance 3. Adapting to current challenging environment 4. Appendices P 19
Slide 20: Thermal Power Key figures
Thermal Power Key figures +2% In € million 9,366 9,574 • Sustained orders with a book-to-bill above 1 for the 5th consecutive semester Orders and book-to-bill 1.07 • 12 gas turbines booked vs 14 in FY11/12: nearly twice 1.04 the level booked last year in MW (5.0 GW vs. 2.8 GW) • Strong activity in s
Slide 21: Renewable Power Key figures
Renewable Power Key figures +0% In € million 2,026 2,029 • Rebound of Hydro orders in H2 (Columbia, Ethiopia) as Orders and expected book-to-bill 1.13 1.00 • Strong commercial activity in wind with major contracts in Brazil 2011/12 2012/13 -11% 2,027 • H1 impacted by lack of significant milestones r
Slide 22: Grid Key figures
Grid Key figures +26% In € million 5,058 • Strong successes in HVDC (800kV UHVDC contract in 4,003 Orders and 1.32 India and offshore HVDC in Germany) book-to-bill • Good flow of small and mid-sized contracts 1.00 2011/12 2012/13 -5% 4,013 3,829 • Customers slowing down some projects, impacting sale
Slide 23: Transport Key figures
Transport Key figures +13% In € million 6,311 7,109 • High level of orders, leading to strong book-to-bill Orders and 1.30 • Orders particularly active in Europe and Americas book-to-bill 1.22 • Urban transport and regional trains representing the bulk of orders 2011/12 2012/13 +6% 5,458 5,168 • Str
Slide 24: Income statement
Income statement In € million March 2012 March 2013 Variation Sales 19,934 20,269 2% Income from operations 1,406 1,463 4% Operating margin 7.1% 7.2% Grid PPA & acquisition costs (156) (60) Restructuring costs (83) (137) Capital gains & other (95) (79) EBIT 1,072 1,187 11% Financial result (177) (22
Slide 25: Free cash flow
Free cash flow In € million Positive free cash flow March 2012 March 2013 after two years of negative figures Income from operations 1,406 1,463 Change in Working Capital driven by: Restructuring cash out (159) (201) • Mix of orders weighing Depreciation 340 348 on the level of downpayments Capi
Slide 26: Net debt & equity evolution
Net debt & equity evolution In € million Net debt evolution Equity evolution 343 1 802 (236) (240) (2,492) (2,342) 5,104 408 4,434 (236) 343 (365) 31-Mar-12 Capital Free cash Dividends Acquisitions 31-Mar-13 31-Mar-12Net income Capital Dividends Pensions Other 31-Mar-13 increase flow & Other increas
Slide 27: Solid financial structure
Solid financial structure Actively managing balance sheet Liquidity position: ample room for manoeuvre Gross debt: gradual repayment starting end 2014 In € billion 3.4 3.5 In € million Gross Cash 750 750 750 Undrawn 500 500 500 Credit line 350 31 March 12 31 March 13 • A €1.35 billion syndicated cre
Slide 28: www.alstom.com
www.alstom.co ALSTOM Shaping the futire