FWIW...Alstom's Fiscal 2000 Net Profit, Revenue Rise 15%
Dow Jones Online News, 05/22/2000 16:12
PARIS -(Dow Jones)- Anglo-French engineering group Alstom SA posted a 15% increase in both profit and revenue for fiscal 2000 despite a drag from the company's energy operations.
For the year ended March 31, the company posted a net profit of 349 million euros ($313.8 million), compared with 303 million euros in the year-earlier period. Revenues rose 15% to 16.23 billion euros.
Alstom (ALS) said its operating profit rose 3% to 729 million euros. Excluding energy operations, which were hit by lower-than-expected operating profit, the company said its operating profit would have risen 23%.
The company said its operating profit after financial income fell 8.8% to 667.1 million euros. Alstrom had a 62 million euro loss, compared with a year-earlier gain of 24.2 million euros.
The loss was from the impact of the 1.48 billion euro buyout to Swiss-partner ABB for ABB's stake in their ABB Alstom Power joint venture, and the deal's affect on Alstom's debt position.
Alstom now has 3.56 billion euros in total debt, nearly triple the year-earlier 1.29 billion euros, while long-term debt now stands at 998.9 million euros, compared with 89.4 million euros.
(Compiled from Dow Jones Newswires and other sources)
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