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    Delphine Brault

    Research Analyst at ODDO BHF

    Delphine Brault's questions to ALSTOM (ALSMY) leadership

    Delphine Brault's questions to ALSTOM (ALSMY) leadership • Q1 2024

    Question

    Delphine Brault of ODDO BHF asked for commentary on the gross margin of orders booked in Q1 and for an update on any remaining tensions within the supply chain.

    Answer

    CFO Laurent Martinez expressed pleasure with the quality of Q1 order intake, confirming profitability is consistent with the 8-10% mid-term target and that cash profiles support the 80% cash conversion goal. Regarding the supply chain, he noted that while the peak of the electronics crisis has passed, the situation remains tense but is well-monitored and not seen as a major risk.

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    Delphine Brault's questions to ALSTOM (ALSMY) leadership • Q4 2023

    Question

    Delphine Brault of ODDO BHF inquired about the organic growth rate for the rolling stock division and the reasons for the €200 million shortfall in the execution of Bombardier legacy contracts against initial expectations.

    Answer

    Chairman and CEO Henri Poupart-Lafarge clarified that while standalone rolling stock growth was modest, it was closer to 3-4% when including the rolling stock portion of the fast-growing Systems division. He attributed the legacy contract variance to a specific project phasing delay in the U.K. due to customer requirements, which is expected to be resolved in the current fiscal year.

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