Global marketsUpdated November 2

Alstom shares plunge after a profit-forecast cut.

Alstom’s German train orders are the snag: Bloomberg says the company is struggling to deliver a series of them, with delays bringing cost overruns. After Alstom cut its profit forecast, its shares tumbled. The Financial Times’ headline put the drop at 28%; Bloomberg later reported a fall of around 30% in Paris. Bloomberg says the delays and cost overruns are pushing Alstom to consider asset sales to shore up its balance sheet. The Financial Times also reports a plan to cut €2bn in debt, and describes this as the second major profit warning under new CEO Martin Sion.

2 publishers3 reports

Coverage started November 2