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Alstom Flags Cash Drain From Lingering Bombardier Skeletons

Jul 07 2021, 12:58 AM July 05 2021, 11:19 PM July 07 2021, 12:58 AM (Bloomberg) Alstom SA Chief Executive Officer Henri Poupart-Lafarge expects costly and painful months ahead as the rail-equipment maker works to turn around the flagging operations of the Canadian rival it acquired. (Bloomberg) Alstom SA Chief Executive Officer Henri Poupart-Lafarge expects costly and painful months ahead as the rail-equipment maker works to turn around the flagging operations of the Canadian rival it acquired. Alstom is detailing on Tuesday a path for improving profitability for the combined group after the Bombardier deal was sealed in January. The French company is forecasting a cash drain in the first half of this year and a return to pre-acquisition margin levels only in the 2024-2025 fiscal year, according to a statement.

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