Alstom rises on H1 orders, FCF beat
** Share in Alstom rise about 6% after the French train maker reported higher-than-expected H1 FCF and orders
** Alstom reported H1 cash outflow of 138 million euros ($145.60 million), 63% above a company-provided consensus of -354 million euros, and significantly better than its own guidance of 500-300 million euro outflow
** "FCF was materially better than the consensus due to strong contract liabilities (order intake downpayments)," says Redburn Atlantic
** "A very solid Q2/H1 update," Jefferies notes
** Alstom reports H1 orders at 10.95 billion euros, above a company consensus of 10.48 billion euros
** The company reiterates its FY25 and mid-term guidance
** Deutsche Bank says that the company did not upgrade its guidance, despite the FCF beat in H1, as the group now assumes a phasing of downpayments being more H1-weighted
($1 = 0.9478 euros)
Reporting by Anna Peverieri
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