Alstom SA (OTCPK:ALSMY) Q2 2019 Earnings Conference Call November 6, 2019 3:00 AM ET
Henri Poupart-Lafarge – Chairman & Chief Executive Officer
Laurent Martinez – Chief Financial Officer
Conference Call Participants
Gael de-Bray – Deutsche Bank
Alexander Virgo – Bank of America
Akash Gupta – JPMorgan
Daniela Costa – Goldman Sachs
Jonathan Mounsey – BNP Paribas
James Moore – Redburn
Ji Cheong – Citi
Alfred Glaser – ODDO
Katie Self – Morgan Stanley
Hello. Good morning everybody. Welcome to our Web Management Conference Call on the Half Year Results for 2019/2020. Good morning everybody. Well, I will go through the overview and then Laurent classically will detail the financial results.
As you can see, we have slightly changed the format, the colors of our — the branding of our slides in order to adapt our branding to our new plan Alstom in Motion and I hope that you will appreciate it.
In terms of highlights of this first half, a few points. The first one is that we have a positive commercial momentum. I would say both reflected in our order intake at €4.6 billion, but also reflected in the global market situation. I will come back to that, but we have a very good development, particularly in Europe.
Past orders have translated into sales growth of 3% or 2% on an organic basis. Of course, as you know and we said it in the past, this is actually more important growth, particularly in Europe and in the rolling stock activities or in Signalling activities, which is more than compensating a decrease in our system activity or in the Middle East which is the main region for systems activities. And as you know we are now ramping down both Dubai and Riyadh, but I will come