Skip to content
Shares in the French train maker decreased by as much as 36 per cent, to a low of €14.72, wiping out roughly €3 billion of its market value by mid-morning, before closing at €16.64. In a preliminary earnings release, Alstom said its core profit margins were at roughly six per cent, one per cent lower than its seven per cent forecast. (Financial Times)
Talking point: Alstom’s cash flow problems stem in part from the company’s $3.6-billion acquisition of Montreal-based Bombardier Transportation in 2021, which fattened its order book but delayed deliveries. In January, the federal and Ontario governments announced they would manufacture 55 Toronto subway trains at Alstom’s Thunder Bay, Ont., plant, with 55 per cent Canadian content.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
The Big Read
Beacon is building an AI empire by fixing Main Street’s software
Briefing
Inovia raises US$200M for new VC fund as it eyes AI’s impact
43% of eligible Albertans voted ahead of Monday’s referendum
AI chip company Tenstorrent raises US$1.5B, valuing it at US$6.2B
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
