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☆ European countries tighten borders
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +5 min

These countries have reinstated stricter checks:* Austria introduced checks at its border with the Czech Republic in October, set to last until Dec. 6. * Denmark in August tightened border control for arrivals, including those from Schengen countries, at Copenhagen airport to boost security after incidents of Koran burnings. * Germany announced controls in September on its land borders with Poland, the Czech Republic and Switzerland, set to stay in place until Dec. 4. * Sweden strengthened checks in August on its borders, giving border police more power including body searches and increased use of electronic surveillance. * France as of November reintroduced controls on its borders with Schengen members, citing what it called terrorism threats.

Persons: Fabrizio Bensch, Berlin, Matteo Piantedosi, Gerald Darmanin, Olivier Sorgho, Stéphanie, Milla Nissi, Frances Kerry Organizations: REUTERS, European, Austria, EU, Kremlin, Thomson Locations: Forst, Germany, Austria, Czech Republic, Slovenia, Hungary, Ukraine, Denmark, Copenhagen, Poland, Switzerland, Berlin, East, Italy, Norway, Slovakia, Sweden, France, Belgian, Brussels, Africa, Croatia, Finland, Russia, Helsinki, Moscow, Gdansk

☆ Factbox-European Countries Tighten Borders
▼ + stars: | 2023-11-24 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +5 min

Persons: Berlin, Matteo Piantedosi, Gerald Darmanin, Olivier Sorgho, Stéphanie, Milla Nissi, Frances Kerry Organizations: Reuters, European, Austria, EU, Kremlin Locations: Austria, Czech Republic, Slovenia, Hungary, Ukraine, Denmark, Copenhagen, Germany, Poland, Switzerland, Berlin, East, Italy, Norway, Slovakia, Sweden, France, Belgian, Brussels, Africa, Croatia, Finland, Russia, Helsinki, Moscow, Gdansk

☆ Alstom to cut 1,500 staff, sell assets
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

A logo of Alstom is seen at the Alstom's plant in Semeac near Tarbes, France, February 15, 2019. REUTERS/Regis Duvignau/File Photo Acquire Licensing RightsNov 15 (Reuters) - Alstom (ALSO.PA) on Wednesday said it would cut jobs, sell assets and was considering a capital increase in a bid to boost its balance sheet and alleviate investor concerns over high debt. The maker of France's iconic TGV trains said it aimed to cut about 1,500 staff to help meet its confirmed mid-term targets. Alstom plans to cut its net debt by 2 billion euros ($2.2 billion) by March 2025. As of Sept. 30, it had a net debt of 3.43 billion euros.

Persons: Regis, Henri Poupart, Lafarge, Philippe Petitcolin, Safran, Olivier Sorgho, Milla Nissi, Silvia Aloisi Organizations: Alstom, REUTERS, Traders, Thomson Locations: Semeac, Tarbes, France, Gdansk

☆ Adyen lowers mid-term sales target, aims to slow hiring
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

The Adyen logo is seen at the reception desk of the company's headquarters in Amsterdam, Netherlands August 24, 2018. "Overall targets are lowered from previous targets and while likely more realistic, they still look ambitious," Jefferies analysts said in a note. Adyen added it would aim to improve its core profit (EBITDA) margin to above 50% in 2026. This year so far, Adyen has lost about half its market value which currently stands at 21.58 billion euros. It said it would slow down hiring, and that it hired 175 full-time employees over the quarter, which was "substantially below" Jefferies' expectations.

Persons: Eva Plevier, Adyen, France's, Jefferies, Olivier Sorgho, Piotr Lipinski, Elaine Hardcastle, Josie Kao Organizations: REUTERS, Netflix, Spotify, Jefferies, New, Thomson Locations: Amsterdam, Netherlands, New York, U.S

☆ STMicro beats third quarter sales forecasts
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Sarah Meyssonnier/File Photo Acquire Licensing RightsOct 26 (Reuters) - European chipmaker STMicroelectronics (STMPA.PA) beat expectations on Thursday for third quarter sales, helped by demand from the automotive sector. However, the company, whose clients include Tesla (TSLA.O) and Apple (AAPL.O), said it expects a drop in sales in the fourth quarter. Third quarter net revenues rose 2.5% year on year to $4.43 billion, beating the average of $4.38 billion expected by analysts in an Refinitiv poll. STMicro said it expects fourth quarter sales to fall about 3% year on year to $4.30 billion. STMicro on Thursday added it projects a gross margin of 46% in the fourth quarter, give or take 200 basis points.

Persons: Sarah Meyssonnier, Jean, Marc Chery, STMicro, Olivier Sorgho, Clarence Fernandez, Sonali Paul Organizations: REUTERS, Apple, Automotive, Electronics, Thomson Locations: Montrouge, Paris, France, U.S, China

☆ EssilorLuxottica sees 'slight deceleration' in Q3 vs first half
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

A logo of EssilorLuxottica exhibition space is displayed at SILMO in Villepinte, near Paris, France September 24, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsOct 19 (Reuters) - Luxury eyewear maker EssilorLuxottica (ESLX.PA) on Thursday reported third-quarter revenue of 6.3 billion euros ($6.68 billion) with Asia-Pacific sales growth of 11.75% bolstered by China. Shares of luxury goods companies have come under pressure as cash-strapped consumers cut spending on high-end goods, while growth has also been slowing in China. French luxury company LVMH (LVMH.PA) last week reported slower sales growth in the third quarter. EssilorLuxottica reiterated its 2023 target of "mid-single-digit annual revenue growth" from 2022 to 2026 and an operating profit representing 19% to 20% of revenue by the end of that period.

Persons: Benoit Tessier, Ray, Bernstein, EssilorLuxottica, Stéphanie Hamel, Olivier Sorgho, Jane Merriman Organizations: REUTERS, Thomson Locations: Villepinte, Paris, France, Asia, Pacific, China, North America

☆ French retailer Casino agrees initial deal to sell stake in Exito Group
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

A logo of French retailerÊCasinoÊis pictured outside aÊCasinoÊsupermarket in Nantes, France, July 27, 2023. REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsPARIS, Oct 16 (Reuters) - Indebted French supermarket chain Casino (CASP.PA) said on Monday it had agreed an initial deal to sell its stake in Latin American retailer Almacenes Exito (IMI.CN) to Grupo Calleja. Casino's board on Friday approved a pre-agreement to sell its entire stake in Almacenes Exito to Grupo Calleja, a leading grocery retailer in El Salvador, it said. Casino is in the midst of a restructuring after years of debt-fuelled acquisitions had brought it to the verge of default. The price per share may be reduced by extraordinary dividend distributions, asset transfers or similar transactions made by Exito, Casino added in a statement.

Persons: Stephane Mahe, Almacenes, Exito, Sudip Kar, Olivier Sorgho, Jacqueline Wong, Lincoln Organizations: REUTERS, Rights, Grupo Calleja, Casino, Thomson Locations: aÊCasinoÊsupermarket, Nantes, France, El Salvador, Almacenes

[1/2] A logo of Alstom is seen at the Alstom's plant in Semeac near Tarbes, France, February 15, 2019. The shares were heading for their worst one-day drop in over 20 years as of 1140 GMT, down 37%, which wiped some 3 billion euros ($3.16 billion) from Alstom's market value. The group said it now expects a cash outflow of 500-750 million euros over the full year, after a preliminary first-half outflow of 1.15 billion euros, well above the consensus for a 152 million euro outflow cited by Jefferies. The cost of insuring Alstom's debt against the risk of default shot to its highest since last November, according to data from S&P Global Market Intelligence. Citi analysts were less concerned about liquidity, but said "the past track record on cash means cash improvement is now very much a 'show me' story".

Persons: Regis Duvignau, Jefferies, Angelo Meda, JP Morgan, Olivier Sorgho, Danilo Masoni, Chiara Elisei, Amanda Cooper, Alexander Smith Organizations: Alstom, REUTERS, Banor SIM, Deutsche Bank, P Global Market Intelligence, Traders, Citi, Thomson Locations: Semeac, Tarbes, France, Paris, Milan, Britain

☆ 'Barbenheimer', rains in Northern Europe spur Kinepolis sales
▼ + stars: | 2023-08-17 | by ( Olivier Sorgho | ) www.reuters.com time to read: +1 min

Aug 17 (Reuters) - Belgian cinema operator Kinepolis (KIPO.BR) said on Thursday July was one of its best months in terms of sales as blockbuster films "Barbie" and "Oppenheimer", along with rainy weather in Northern Europe, lured people into cinemas. "Here in... Northern Europe, we essentially had in the month of July good cinema weather, meaning a lot of rain," Duquenne said. Duquenne said that in Spain, where Kinepolis owns 10 cinema complexes, people "often come to the cinemas because we do have air conditioning". On Thursday, Kinepolis posted record half-year sales, as attendance at its cinemas grew 22.8% year-on-year to 16.8 million visitors. That figure still fell short of pre-pandemic levels, standing at 74.8% of the attendance in the first half of 2019, excluding the cinemas Kinepolis took over and inaugurated.

Persons: Oppenheimer, Eddy Duquenne, Mario, Barbie, Duquenne, Kinepolis, Olivier Sorgho, Devika Organizations: Mario Bros, Thomson Locations: Belgian, Northern Europe, ., Belgium, Netherlands, United States, Spain

☆ EU greenhouse gas emissions fall 3% in the first quarter
▼ + stars: | 2023-08-16 | by ( Olivier Sorgho | ) www.reuters.com time to read: +1 min

REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsCompanies Eurostat FollowAug 16 (Reuters) - Greenhouse gas emissions in the European Union fell by nearly 3% in the first quarter of 2023, even as the bloc's economy grew slightly, statistics agency Eurostat said on Wednesday. The EU's emissions over the January to March quarter amounted to 941 million metric tonnes of CO2 equivalents, down 2.9% from a year earlier, while the economy grew 1.2% year-on-year. Emissions fell in 21 of the bloc's 27 countries, with the largest decreases seen in Bulgaria, Estonia and Slovenia. Households were responsible for the biggest share - nearly a quarter - of total greenhouse gas emissions, Eurostat said, while manufacturing accounted for a fifth. Electricity and gas supply - the sector where emissions fell the most - still contributed 19% to the total figure, with agriculture accounting for 13% and transportation and storage responsible for 10%.

Persons: Neurath, Wolfgang Rattay, Olivier Sorgho Organizations: REUTERS, European, Eurostat, heatwaves, Electricity, Thomson Locations: Cologne, Germany, Portugal, Spain, Bulgaria, Estonia, Slovenia, Ireland, Latvia, Slovakia, Denmark, Sweden, Finland

☆ Factbox: European countries imposing windfall taxes on banks
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +4 min

But he and Finance Minister Bruno Le Maire have ruled out the possibility of a windfall tax. HUNGARYHungary's government has tweaked windfall taxes imposed on key sectors of the economy in a decree published in June, saying banks can reduce their 2024 windfall tax payments by up to 50% if they increase their Hungarian government bond purchases. ITALYItaly approved on Aug. 8 a one-off 40% tax on profits banks reap from higher interest rates and it plans to use the proceeds to help mortgage holders. LITHUANIALithuania's parliament approved in May a windfall tax on the banking industry's net interest income for 2023 and 2024 following a sharp rise in European Central Bank interest rates. It is expected to raise 6 billion Swedish crowns a year.

Persons: Ralph Orlowski, Emmanuel Macron, Bruno Le Maire, Christian Lindner, Alessandro Parodi, Matteo Allievi, Olivier Sorgho, Silvia Aloisi, Tom Sims, Holger Hansen, Marta Frąckowiak, Alexander Smith Organizations: Germany's Deutsche Bank, REUTERS, Finance, HUNGARY Hungary's, European Central Bank, Swedish Government, Thomson Locations: Frankfurt, Germany, Italy, CZECH REPUBLIC, Czech, France, GERMANY, HUNGARY, ITALY Italy, LITHUANIA, SPAIN Spain, SWEDEN, Britain

☆ STMicroelectronics posts higher Q2 sales helped by automotive demand
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

July 27 (Reuters) - European chipmaker STMicroelectronics <STMPA.PA> on Thursday projected improvement in third-quarter sales as it slightly beat market expectations for the second quarter, defying earlier downbeat statements by some of its peers. STM said it expects third-quarter net revenues of $4.38 billion, a touch above the $4.32 billion it posted in the third quarter last year. STM's second-quarter sales rose 12.7% year-over-year to $4.33 billion, slightly above a consensus from Refinitiv data, which had expected $4.27 billion. It now expects revenues in 2023 of $17.4 billion, give or take $150 million. In April, it guided for a range of 17.0 billion to $17.8 billion.

Persons: Chipmakers, Taiwan's TSMC, Jean, Marc Chery, Olivier Sorgho, Jacqueline Wong, Kim Coghill Organizations: Texas, NXP Semiconductors, Industrial, Electronics, Thomson

☆ Randstad flags tougher job market, earnings beat forecasts
▼ + stars: | 2023-07-25 | by ( Olivier Sorgho | ) www.reuters.com time to read: +2 min

July 25 (Reuters) - Randstad (RAND.AS), the world's biggest staffing firm, on Tuesday flagged weaker demand in a "challenging" jobs market, even as it beat expectations for second-quarter core earnings. "We've had an enormous surge in demand post-COVID ... from there we have sort of gradually seen demand pull back," he added. The company's shares recouped early losses to rise 3.5% by 1013 GMT, as its quarterly core profit beat market forecasts. Underlying earnings before interest, tax and amortisation (EBITA) fell 12% to 271 million euros ($299.8 million), but exceeded the 260 million seen in a company-provided poll. An employer survey from the World Economic Forum earlier this year found that employment could decrease 2% by 2027.

Persons: Sander van't Noordende, We've, Marc Zwartsenburg, Randstad, van't Noordende, Olivier Sorgho, Jacqueline Wong, Milla Nissi, Emma Rumney Organizations: ING, Economic, Thomson Locations: U.S, Britain, China, North America, Europe, Northern Europe, Asia, Pacific, America, Gdansk

☆ Migration pushes EU population back to growth in 2022
▼ + stars: | 2023-07-11 | by ( Olivier Sorgho | ) www.reuters.com time to read: +1 min

REUTERS/Michele TantussiJuly 11 (Reuters) - The European Union's population rose for the first time in three years in 2022, boosted by migration into the bloc even as more people died than were born, the EU's statistics office Eurostat said on Tuesday. The political alliance's population rose from 446.7 million on Jan. 1, 2022 to 448.4 million people a year later. "The observed population growth can be largely attributed to the increased migratory movements post-COVID-19 and to the mass influx of displaced persons from Ukraine who received temporary protection status in EU countries," Eurostat said. Eurostat said only seven countries recorded a drop in their populations in 2022, including Italy whose population fell by nearly 180,000 people. The twenty remaining countries within the bloc saw their populations rise.

Persons: Michele Tantussi, Olivier Sorgho, Milla Nissi, Christina Fincher Organizations: REUTERS, Eurostat, Thomson Locations: Ukraine, Tegel, Berlin, Germany, Italy, Gdansk

☆ Aegon bets on Transamerica to boost cash flow and dividend in 2025
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

June 22 (Reuters) - Transamerica owner Aegon (AEGN.AS) on Thursday forecast a higher free cash flow and dividend in 2025, flagging untapped potential in the U.S and stepping up its strategy to invest in higher-return assets. The Dutch-listed insurer said it sees free cash flow of about 800 million euros ($878.96 million) in 2025, up from the 600 million it expects for 2023. It also projects a dividend per share of around 0.40 euros in 2025, from around 0.30 euros expected for 2023. It also sees untapped potential in the insurance market in the U.S, where it is present through its subsidiary Transamerica. Transamerica, Aegon's largest business, will further invest in its insurance distribution network World Financial Group (WFG), and will aim to increase earnings from its retirement business.

Persons: WFG, Olivier Sorgho, Clarence Fernandez, Sharon Singleton Organizations: Aegon, ING, Financial, Aegon's, Thomson Locations: U.S, United States, Aegon's

☆ Telecoms firm Veon to invest $600 mln in mobile unit Kyivstar
▼ + stars: | 2023-06-21 | by ( Marc Jones | ) www.reuters.com time to read: +2 min

LONDON, June 21 (Reuters) - Telecoms company Veon (VON.AS) said on Wednesday it would invest $600 million in the infrastructure of its Ukrainian subsidiary Kyivstar, the war-ravaged country's largest mobile network. The Amsterdam-listed company said the funds would help upgrade the mobile operator's infrastructure, including improving connectivity and 4G services throughout Ukraine. The country has seen much of its mobile infrastructure hit by Russian rocket attacks. Kyivstar's technical teams have performed nearly 150,000 repairs since Russia invaded last year, Veon said, adding it ensured that 93% of the network is operational. Kyivstar has lost around 7% of its active customer base - or roughly 1.7 million subscribers - since the war started last February.

Persons: Veon, Oleksandr Komarov, Kyivstar, Komarov, Aleksander Torbakhov, Olivier Sorgho, Clarence Fernandez, Sherry Jacob, Phillips, Sharon Singleton Organizations: Reuters, Thomson Locations: Amsterdam, Ukraine, Russian, Russia, London

☆ Dassault Systemes targets doubling of earnings per share by 2028, announces new CEO
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +1 min

June 9 (Reuters) - French software provider Dassault Systemes (DAST.PA) on Friday forecast a doubling of its earnings per share (EPS) by 2028, and announced a new CEO. Dassault said it plans to reach non-IFRS EPS between 2.20 euros and 2.40 euros by 2028, roughly double the 1.13 euros it posted for the full year of 2022. Proponents say subscription models give companies a more predictable revenue stream, which helps planning and managing costs. "Dassault Systèmes will increase its addressable markets from €100 billion today to €1 trillion by 2040," the company said in a statement. Reporting by Olivier Sorgho and Augustin Turpin; Editing by Tom Hogue and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Pascal Daloz, Bernard Charlès, Olivier Sorgho, Augustin Turpin, Tom Hogue, Gerry Doyle Organizations: Dassault, Thomson

☆ Universal Music reiterates AI concerns as quarterly profit slumps
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

April 26 (Reuters) - Universal Music Group (UMG.AS), the label representing Drake and Taylor Swift, on Wednesday posted a slump in first-quarter core profit due to compensation expenses, and reiterated concerns over AI-made music. Core profit, or earnings before interest, taxes, depreciation and amortisation (EBITDA), slumped 43.4% in constant currency to 261 million euros ($288.04 million), due to non-cash, share-based compensation expenses, part of an equity compensation plan announced last year. Excluding these expenses, adjusted EBITDA was 522 million euros, up 13.0% on the same basis, and beating a consensus cited by Credit Suisse which had expected 513 million euros. UMG's CEO, Lucian Grainge, has come under shareholder pressure over an "excessive" $100 million pay deal, The Financial Times reported on Wednesday. Labels now face challenges like slowing global revenue growth in recorded music, particularly in established markets like the U.S, while the emergence of AI-generated music adds to their concerns, as many laws do not currently deem the replication of artists' voices as strictly illegal.

☆ Universal Music profit slumps due to compensation expenses
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

April 26 (Reuters) - Universal Music Group (UMG.AS), the label representing Drake and Taylor Swift, on Wednesday posted a significant drop in core profit due to compensation expenses, even as sales edged up in the first quarter. Core profit (EBITDA) for the first quarter fell 43.4% at constant currency to 261 million euros ($288.07 million), with the metric's margin also dropping to 10.6% from 20.6% in the same quarter a year earlier. The drop was due to non-cash, share-based compensation expenses of 261 million euros during the quarter, part of a global equity compensation plan announced in the fourth quarter of last year, UMG said. UMG's CEO Lucian Grainge has come under shareholder pressure over an "excessive" $100 million pay deal, The Financial Times reported on Wednesday. The group nonetheless posted higher first quarter sales, helped by growth in recorded music and music publishing.

☆ OVHcloud cuts sales growth target citing economic conditions
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

April 19 (Reuters) - French cloud services provider OVHcloud (OVH.PA) on Wednesday trimmed its forecast for full-year revenue growth, citing the macroeconomic context and delays in certain projects. The company now sees organic revenue growth between 13% and 14% in 2023, against a previous outlook of growth in range of 14%-16%. Societe Generale analyst Derric Marcon earlier this week pointed to an interview this month where Amazon's (AMZN.O) CEO suggested a continued slowdown in AWS, the U.S. company's cloud services arm. OVHcloud updated its adjusted core profit (EBITDA) margin target for full-year 2023, forecasting that it will be above 36%, against a previous forecast for it to be in line with the 39.0% posted in 2022. It reported half-year sales of 439 million euros ($481.41 million), broadly in line with the 437.3 million expected on average in a company-provided poll.

☆ France's OVH expands into India amid growing cloud adoption
▼ + stars: | 2023-03-20 | by ( Olivier Sorgho | ) www.reuters.com time to read: +2 min

March 20 (Reuters) - French software firm OVHcloud (OVH.PA) has launched its first data centre in India as it expands in the Asia-Pacific region aiming to capitalise on growing cloud adoption amid heightened concerns over data privacy, it said on Monday. The new data centre in Mumbai will provide Indian businesses with local computer and storage infrastructure to meet changing data compliance needs as India digitalises and pushes for more data protection, OVH said. "The Indian market is a very...fast-growing market," CEO Michel Paulin told Reuters, adding OVH had already sold a few hundred servers. "We will continue to recruit in India," Paulin said, adding OVH had created jobs last year in Mumbai to prepare the launch and implement the technical infrastructure. But the need for digital and cloud solutions was still there, Paulin said.

☆ Heineken blames Russia exit delay on local paperwork
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

March 7 (Reuters) - Heineken (HEIO.AS) on Tuesday blamed the delay in its Russia exit on local bureaucracy that it said was beyond its control, and reiterated it still planned to exit the country. Last month, a story by investigative website Follow The Money questioned whether Heineken had followed through on its March 2022 promise to leave Russia, including selling its non-Heineken international brands like Amstel. "There's no ambiguity about our promise: we will leave Russia," Heineken said in a Q&A section on its website on Monday, to which it referred in Tuesday's statement. Heineken is the third largest brewer in Russia and the local business accounts for just 2% of its global sales, the company said. Danish rival Carlsberg (CARLb.CO) said on Tuesday its chief executive Cees't Hart would retire at the end of September after seeing through the sale of its Russian business.

If they start to reverse, then you'll see things reversing for next year, but we have to wait and see," he said. Slashing prices also reflects stiffening competition in some markets as companies struggle with waning consumer demand and households tighten budgets. Kraftliner prices, up 60 euros per tonne in the first half, have since fallen by 120 euros a tonne. Europe's gas rollercoasterWAGES AND BORROWING COSTSSome companies won't make cuts though, as they protect margins or face higher wages and borrowing costs. "It does signal a retreat in operating margins for firms like Smurfit, hence the negative reaction in the share price this morning," he said.

☆ Train maker Alstom's sales gain steam as orders beat estimates
▼ + stars: | 2023-01-25 | by ( Olivier Sorgho | ) www.reuters.com time to read: +1 min

[1/2] A logo of Alstom is seen at the Alstom's plant in Semeac near Tarbes, France, February 15, 2019. REUTERS/Regis Duvignau/File PhotoJan 25 (Reuters) - French train maker Alstom (ALSO.PA) posted an 8% rise in third-quarter sales on Wednesday, helped by forecast-beating orders, particularly in Europe. Revenue in the October-December period, Alstom's fiscal third quarter, amounted to 4.22 billion euros ($4.60 billion), compared with 3.92 billion euros in the same period a year earlier. Quarterly orders, of which most came from Europe, increased by 13% to 5.15 billion euros, and were 11% ahead of a consensus cited by J.P.Morgan. Alstom's orders "highlight high level of activity in rail industry which is already visible in large order announcements of companies", J.P.Morgan analyst Akash Gupta said in a note to clients.

☆ Train maker Alstom's sales gain steam from European orders
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

[1/2] A logo of Alstom is seen at the Alstom's plant in Semeac near Tarbes, France, February 15, 2019. REUTERS/Regis Duvignau/File PhotoJan 25 (Reuters) - French train maker Alstom (ALSO.PA) on Wednesday posted an 8% rise in third-quarter sales, helped by strong orders in Europe. The COVID-19 pandemic and the war in Ukraine have hiked input costs and worsened supply-chain problems for train manufacturers, but a ramp-up in orders has nonetheless fuelled Alstom's sales growth. Revenue in the October-December period, Alstom's fiscal third quarter, amounted to 4.22 billion euros ($4.60 billion), compared with 3.92 billion in the same period a year earlier. Quarterly orders increased by 13% to 5.15 billion euros, with majority of them coming from Europe, the company said.

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