Train maker Alstom gains steam on European orders

STORY: French train maker Alstom is gaining steam.

It posted an 8% rise in third-quarter sales on Wednesday (January 25).

That was driven by forecast-beating orders, especially in Europe.

Overall new business jumped 13% - well ahead of analyst expectations.

Over October to December that took revenue to $4.6 billion.

It wasn’t all smooth running though.

Costs increased due to lingering supply-chain problems, and issues related to the war in Ukraine.

Alstom also faced costs over its acquisition of Bombardier’s rail business.

But Chief Executive Laurent Martinez is bullish.

He told analysts he didn’t expect any slowdown in demand.

Alstom also confirmed its outlook for the coming years.

Analysts at J.P.Morgan said the numbers were indicative of strong activity across the rail sector.

They expect robust figures from peers including Swiss rival Stadler.