The difficulties accumulate and the pace begins to resemble a long downhill. In a matter of months, Alstom, the world’s number two rail industry with a turnover of 17 billion euros, has suffered one setback. Between chaotic delivery delays as in the case of SNCF TGV M, a sudden drop in the share price in October from around 22 to 12 euros per share, a hole in the coffers of 1 billion euros in the first half of 2023, a debt of 3.4 billion euros in September or even the announcement in mid-February of 1,500 job cuts worldwide, to 293 in France… The flagship of France’s industry is feeling bad.
“Alstom’s problems are piling up and real questions are being raised about the financial health of the group,” says Delphine Sene, a transport specialist at the consulting firm Alenium Consultants. A paradox, given the dynamic market they are in and their order book. “In this case it is full and almost overflowing. The company is present in 63 countries, employs more than 80,000 employees worldwide, and accumulates orders worth 90 billion euros.
Source: Le Parisien
I am John Casanova. I am an author at 24 news recorder and mostly cover economy news. I have a great interest in the stock market and have been writing about it for many years. I am also interested in real estate and have written several articles on the subject. I am a very experienced investor and have a lot of knowledge to share with others.
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