Vladimir Maximovich Sergievskii's questions to ALSTOM (ALSMY) leadership • Q2 2022
Question
Vladimir Maximovich Sergievskii asked about project execution, questioning the reason for a ~EUR 200 million increase in provisions and the driver behind a EUR 650 million rise in contract assets.
Answer
CFO Laurent Martinez clarified that the provision increase was not due to heightened risk but was a mechanical accounting impact under IFRS 15, resulting from booking economically positive options on negative-margin contracts. He reaffirmed that the overall risk assessment on the ex-BT portfolio is unchanged. The increase in contract assets is driven by the production ramp-up.