Alstom Rail Full-Year Report 2023

Emerging stronger, Alstom delivers good FY 2022/23 results in a growing Rail market

• Orders received at €20.7 billion. Book-to-bill ratio at 1.25
• Sales at €16.5 billion in 2022/23, up 7% vs. last year
• aEBIT2 at €852 million, up 11%
• Adjusted Net Profit2 at €292 million
• Free Cash Flow at €199 million
• FY 2023/24 outlook:
  o aEBIT margin: around 6%
  o Free Cash Flow: significantly positive
• Mid-term targets to be reached in FY 2025/26:
  o aEBIT margin: 8-10%
  o Free Cash Flow conversion above 80%

In the U.K., Alstom has re-aligned the order intake for the train service agreement of Elizabeth line with Transport for London for a 32-year contractual concession period up to 2046, recognizing €1.1bn in the third quarter, and the Group signed a Technical Support and Spares Supply Agreement (TSSSA) with Govia Thameslink Railway (GTR) for a period of five years and five months to align with the duration of GTR’s National Rail Contract. And in Spain, the Group has been awarded a contract by Renfe to supply 49 additional Coradia StreamTM high-capacity trains.