Alstom SA said Thursday that its third-quarter sales and orders rose amid strong momentum for the rail market.
Sales for the October-December period rose to 2.06 billion euros ($2.30 billion) from EUR2.01 billion a year earlier, the French train maker ALO, +0.34% said.
Orders for the quarter increased to EUR3.56 billion from EUR3.39 billion the year previous. Alstom said order intake was particularly dynamic thanks to strong momentum in Europe and Asia-Pacific.
“The rail market is clearly undergoing a very positive momentum, in particular driven by growing environmental concerns,” Alstom Chairman and Chief Executive Henri Poupart-Lafarge said.
The company backed its mid-term target of average annual sales growth of around 5% for the next financial years through fiscal 2023 and an adjusted earnings before interest and taxes margin of around 9% in fiscal 2023.
Alstom warned that fiscal 2020 will be a year of growth stabilization, and that sales and margin growth for the year will be lower than the average targets of its mid-term view.