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France

France

Alstom's power revenues fall

FRANCE: Alstom's power business, the target of a GE takeover, saw its sales fall by 25% last year, but improved margins meant a smaller fall in profit.

Alstom's Eco 122 turbine sold particularly well in Brazil last year
Alstom's Eco 122 turbine sold particularly well in Brazil last year

Sales from the renewable power, thermal power and grid divisions fell to EUR 11 billion in the year to 31 March, from EUR 14.8 billion the pervious year.

Stronger margins in the thermal power division helped to buoy operating profit for the power business as a whole, with it falling from EUR 1.3 billion to EUR 1.2 billion.

Alstom said last week that it is considering a EUR 12.35 billion ($16.9 billion) offer for its power business from GE. Siemens is considering an alternative bid for the power business.

The French manufacturer said that it had experienced "strong commercial activity in wind", with most of its major contracts coming from the Brazilian market, particularly for its ECO 122 model.

Sales in the renewables division grew by 1% to EUR 1.8 billion "thanks to the development in wind".

The period saw the reorganisation of the company's Spanish industrial footprint in wind with two factories closed as a result of the slowing down of the Spanish market.

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