Train manufacturer Alstom is seeking up to €1bn in asset sales and has said it will consider a capital increase after a cash flow warning last month spooked investors and raised concerns about the French company’s debt level.
Henri Poupart-Lafarge, Alstom’s chief executive, told the Financial Times the cash warning had been a “call for change” as he outlined measures to cut the group’s net debt by €2bn over the next year and a half.
Alstom shares slumped by more than a third in early October when it said it expected negative free cash flow of €500mn to €750mn for the year to March 2024.
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