Alstom Q1 sales up 5.3%, completes rights issue
Recasts and adds detail, paragraphs 1-3, 5-6
By Mathias de Rozario
July 23 (Reuters) -French train maker Alstom ALSO.PA reported a 5.3% rise in first-quarter sales on Tuesday on solid growth across all its divisions but particularly in services, and affirmed its full year guidance.
It generated 4.39 billion euros ($4.8 billion) in sales in the three months to June 30, versus 4.18 billion euros in the year earlier quarter.
"We see solid growth across all product lines, with strong performance in Services during this quarter", CEO Henri Poupart-Lafarge said in a statement.
Alstom, which makes trains and signalling systems for urban and regional rail networks, said it had also finalised a 1-billion euro rights issue and a hybrid bond sale for 750 million euros during the quarter.
It expects the sale of its North American conventional signalling business to Knorr-Bremse AG to take place during the second quarter to also solve its cash problems, due in part to problem contracts inherited after the 2021 acquisition of Bombardier's BBDb.TO rail business.
For its full fiscal year 2024/2025, Alstom confirmed organic sales growth of around 5%, adjusted EBIT margin of around 6.5 % and free cash flow generation within a 300 million euro to 500 million euro range.
($1 = 0.9214 euros)
Reporting by Mathias de Rozario
Editing by David Goodman and Emelia Sithole-Matarise
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