CALDEIRÃO DE BOLSA

Anonymous Escreveu:A ver vamos, se não estão a aproveitar para se desfazerem delas aproveitando retração e este momentos da saida de resultados.

BIGonline Escreveu:Alstom: atingiu prejuízos globais no primeiro semestre do ano de EUR 315 mn
praticamente metade do prejuízo verificado em igual período do ano anterior (EUR
–624 mn), um registo igualmente melhor que o consensus EUR –370 mn. A
empresa reiterou que caminha para uma total recuperação financeira na sequência
de um aumento de 51% nas encomendas em carteira.

FT Investor Escreveu:Rebound in orders gives boost to Alstom

By Mary Watkins in London
Last Update:3:25 AM ET Nov. 18, 2004


Patrick Kron, chief executive of Alstom, on Thursday sought to draw under the French engineering group's recent woes as the he unveiled a strong rebound in orders during the first half, narrower losses and said the recovery plan was on track.


"The financial operations successfully completed during the summer have given us the visibility and the stability needed to implement our recovery plan," he said. "Our balance sheet has been substantially strengthened through a €2bn capital increase. We have stabilised our capital structure with the French state taking a 21.4 per cent share. Finally we have secured access to bonding facilities."

The stronger-than-expected figures together with news that the group had managed to reduce net debt by €1.3bn to €2.4bn and would be able to meet future debt obligations, helped to push shares up. And in early morning trade the shares were trading up nearly 8 per cent at €0.56.

During the first six months of the year net losses narrowed to €315m ($411m) from €624m last time on sales down 12 per cent on a comparable basis at €6.4bn.

There was also an improvement in operating income which rose from €132m to €233m. The operating margin stood at 3.6 per cent versus 1.5 per cent last time.

Mr Kron highlighted the 51 per cent rise in orders to €8.4bn as the clearest sign of that recovery plan was on track, indicating that customers were returning even though market conditions remained tough. "The quality of our orders also shows continuous improvement, with higher margins in line with our profitability targets."

On the back of that progress Alstom also reaffirmed its full-year 2004/05 targets of an operating margin between 3.5 and 4 per cent and free cash flow of about €400m. It also still expects a 6 per cent operating margin for the year to March 2006.

Earlier this year the European Commission gave final approval to a rescue of the engineering group, which will made the French state Alstom's biggest shareholder and allow the company to reduce debts through a debt-for-equity swap and rights issue. As part of that agreement Alstom agreed to divest €1.6bn of assets, while France has agreed to open up the market for railway equipment.

As part of that recovery plan Alstom said it would cut 8,400 jobs. It said yesterday that 6,300 had already left the group.

Earlier this week Alstom's shares fell after Deutsche Bank cut its price target on the stock and said the company lacked sufficient funds to repay debt.

AFP Escreveu:Alstom divise sa perte nette par deux au 1S04/05, confirme ses objectifs


Le groupe français Alstom (infrastructures de l'énergie et des transports) a annoncé jeudi une perte nette de 315 millions d'euros au premier semestre 2004/2005, divisée par deux comparé à la perte nette de 624 millions d'euros essuyée un an plus tôt.

Sur la même période, le groupe a reçu des commandes pour un montant de 8,36 milliards d'euros, en hausse de 51% à données comparables et de 12% en base réelle.

Le groupe a réaffirmé son objectif d'une marge opérationnelle de 6% à l'horizon de mars 2006. Pour le premier semestre 2004/05, elle s'établissait à 3,6% contre 1,5% un an plus tôt.

Le chiffre d'affaires s'élève 6,4 mds EUR contre 8,85 mds EUR, en baisse de 12% à données comparables et en recul de 28% en base réelle. Le résultat opérationnel s'élève à 233 M EUR contre 132 M EUR un an plus tôt.

Ces résultats sont supérieurs à ceux attendus par les analystes. Ces derniers tablaient en effet sur une perte nette comprise entre 245 et 427 M EUR, sur des prises de commandes comprises entre 7,3 et 7,9 mds EUR et sur un résultat opérationnel avoisinant les 230 M EUR.

Les commandes de l'exercice 2004/05 devraient dépasser le niveau atteint lors de l'exercice précédent. Le chiffre d'affaires devrait enregistrer une baisse d'environ 5% comparé à celui de l'exercice 2003/04, réaffirme le groupe dans un communiqué.

"Au vu des résultats encourageants du premier semestre, nous confirmons une prévision de marge opérationnelle entre 3,5% et 4% et de cash flow libre d'environ -400 millions d'euros pour l'ensemble de l'exercice 2004/05", poursuit Alstom.

L'amélioration de la dette, passée à 2,4 mds EUR fin septembre contre 3,7 mds EUR en avril, provient d'une meilleure performance opérationnelle ainsi que d'une diminution des charges financières et de restructurations, explique le groupe

Touro Escreveu:
Todos sabemos que a acção é altamente especulativa e por isso perigosa. Dada a natureza do título, poderemos facilmente assistir a uma subida de igual dimensão nos próximos tempos.

Não devemos esquecer que a acção já subiu cerca de 100% desde os mínimos de Agosto.

A Lehman Brothers tem um objectivo de 0,75 EUR. Quem se terá enganado nas contas? Os próximos dias o dirão.