Home / Business and Economy / Alstom Shares Soar on 2.5B Euro Contract Wins
Alstom Shares Soar on 2.5B Euro Contract Wins
5 Jan
Summary
- Alstom's stock reached its highest point since July 2023.
- The company announced rolling stock contracts valued at approximately 2.5 billion euros.
- Orders were secured in both the Americas and Europe, boosting demand indicators.
French train manufacturer Alstom experienced a significant stock price increase, reaching its highest point since July 2023 on Monday. This surge followed the company's announcement of securing substantial rolling stock contracts across the Americas and Europe, collectively valued at approximately 2.5 billion euros ($2.9 billion).
The newly announced deals comprise a major 1.4 billion euro contract in the Americas. Additionally, Alstom secured a 600 million euro framework agreement and a separate 500 million euro order for additional rolling stock and maintenance services within Europe.
Market analysts highlighted the impressive order intake during the October-December quarter, with a book-to-bill ratio near record levels. This ratio, measuring new orders against fulfilled orders, stood at approximately 1.5x, signifying strong current demand for Alstom's products and services.
