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    Guillermo Peigneux

    Research Analyst at UBS Group AG

    Guillermo Peigneux's questions to ALSTOM (ALSMY) leadership

    Guillermo Peigneux's questions to ALSTOM (ALSMY) leadership • Q1 2024

    Question

    Guillermo Peigneux of UBS Group AG asked about the sustainability of the company's 7% organic growth rate and whether any bottlenecks prevent maintaining this level compared to the 5% guidance.

    Answer

    CFO Laurent Martinez acknowledged the strong Q1 start, driven by an acceleration in Rolling Stock, and confirmed the company is on its execution trajectory. While he reiterated the full-year guidance of at least 5% organic growth, he stated he would not bet on maintaining a 7-8% rate on a continuous mid-term basis.

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    Guillermo Peigneux's questions to ALSTOM (ALSMY) leadership • Q4 2023

    Question

    Guillermo Peigneux of UBS sought quantification for the 'significantly positive' free cash flow guidance for fiscal '24 and asked if the 'linear' margin progression to the 8-10% target implies reaching the lower end of the range.

    Answer

    CFO Laurent Martinez reiterated the 'significantly positive' free cash flow guidance, stating a precise range would be provided with H1 results. Chairman and CEO Henri Poupart-Lafarge confirmed the margin improvement will be linear, not back-end loaded, and acknowledged that the company would reach the 8-10% target range 'from the bottom of it'.

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