Form 6-K
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, Dc 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of July 2004
Commission File Number: 1-14836
ALSTOM
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(Translation of registrant's name into English)
25, avenue Kléber, 75116 Paris, France
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(Address of principal executive offices)
Indicate by check mark whether the Registrant files or will file annual reports
under cover of Form 20-F or Form 40-F
Form 20-F X Form 40-F
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Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1):
Yes No X
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Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):
Yes No X
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Indicate by check mark whether the Registrant, by furnishing the information
contained in this Form, is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the Registrant in
connection with Rule 12g3-2(b)
ENCLOSURES:
Press release dated July 1, 2004, "Le Mans Chooses ALSTOM's Citadis for Its New
Tramway"
Press release dated July 7, 2004, "Orders & Sales for the First Quarter of
Fiscal Year 2005 (1st April -30th June 2004)"
Press release dated July 7, 2004, "Green Light From the European Commission"
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ALSTOM
Date: July 9, 2004 By: /s/ Philippe Jaffré
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Name: Philippe Jaffré
Title: Chief Financial Officer
1st July 2004
LE MANS CHOOSES ALSTOM'S CITADIS
FOR ITS NEW TRAMWAY
Le Mans Metropole, which groups the municipalities in the metropolitan area of
the French city Le Mans, has chosen ALSTOM's CITADIS trams for its new tramway.
ALSTOM will supply 23 trams worth about €55 million. Signature of the contract
for the order is expected before the end of September 2004.
ALSTOM will build the CITADIS trams, which are based on service-proven,
standardised and modular components, to the specific requirements of Le Mans.
The 30-meter vehicles will offer rapid, comfortable and safe transport, and
their full low floor offers easy access to all passengers, including those with
impaired mobility. Delivery is expected to begin at the end of 2006 and be
complete in mid 2007.
The CITADIS family of trams offers flexible, modular solutions for rapidly
growing cities. The CITADIS design concept combines standardisation of
components with customisation of interior and exterior design in order to meet
the individual requirements of each city in terms of aesthetics, comfort and
accessibility. 18 cities around the world have chosen CITADIS trams, and ALSTOM
has sold or won orders for more than 600 CITADIS. The 281 CITADIS trams in
commercial service have carried 400 million passengers over 30 million
kilometres.
Press relations: S. Gagneraud / G. Tourvieille
(Tel. +33 1 47 55 25 87)
internet.press@chq.alstom.com
Investor relations: E. Chatelain
(Tel. +33 1 47 55 25 33)
investor.relations@chq.alstom.com
PRESS INFORMATION
7 July 2004
ORDERS & SALES FOR THE FIRST QUARTER OF FISCAL YEAR 2005
(1ST APRIL - 30TH JUNE 2004)
o Confirmed rebound of orders during the first quarter of fiscal year 2005,
+41% as compared to the same period of last year, on a comparable basis
o Sales down 6% as compared to first quarter of fiscal year 2004 on a
comparable basis, due to low orders in the first part of last year
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|TOTAL GROUP FY 2004 FY 2005 |
|COMPARABLE FIGURES ------------------------------------ ------------------|
|(IN € MILLION) Q1 Q2 Q3 Q4 Q1 Q1/Q1 |
| ==================================== ==================|
|ORDERS RECEIVED 2 796 2 678 3 998 4 439 3 941 41% |
| ------------------------------------ ------------------|
|------------------------------------------------------------------------------|
|SALES 3 541 3 697 3 263 3 798 3 312 (6%) |
| ------------------------------------ ------------------|
------------------------------------------------------------------------------
Commenting on ALSTOM's orders and sales, Patrick Kron, Chairman and Chief
Executive Officer, said:
"The orders of the first quarter of fiscal year 2005 confirm the positive trend
we reported in the second semester of last fiscal year. We see this commercial
performance encouraging. This provides us good confidence to achieve our
turnaround."
ALSTOM - 25 avenue Kléber - 75795 Paris Cedex 16 - Tel : 33 (0)1 47 55 25 87 -
Fax : 33 (0)1 47 55 24 38
PRESS INFORMATION
Orders and sales, as reported, were negatively impacted during the first quarter
of fiscal year 2005 by currency translation effects (impact of approximately 5%
on orders and 1% on sales), particularly the Euro versus the US dollar, and by
the disposals of our Industrial Turbines and Transmission & Distribution
activities. The comparable figures (see appendix 2) adjust the reported figures
for these effects.
The reported figures by Sector are presented in appendix 1 and a geographic
breakdown of reported orders and sales is given in appendix 3. We comment below
on the comparable figures.
ORDERS RECEIVED: €3.9 BILLION
Markets remain contrasted: the market in power generation new equipment shows a
positive trend in boilers, hydro and environmental control while remaining low
in gas and steam. By contrast, the power service market continues to grow
steadily. The transport market remains sound.
Orders received for the first quarter of fiscal year 2005 showed a marked
improvement versus the same period of last year, with high performance in Power
Environment, Power Service and Transport.
The orders registered in the first quarter 2005 were much higher than in the
first part of last year, and significantly above the average level registered
last year.
The total backlog, at around €25.9 billion, was equivalent to 22 months of
sales.
SALES: €3.3 BILLION
Sales for the first quarter of fiscal year 2005 were down 6% compared with the
same period of the previous year. This reflected a decline in Power
Turbo-Systems, Power Environment and Marine sales as a result of low order
intake in the beginning of last fiscal year, partly offset by higher sales in
Transport and Power Service.
ALSTOM - 25 avenue Kléber - 75795 Paris Cedex 16 - Tel : 33 (0)1 47 55 25 87 -
Fax : 33 (0)1 47 55 24 38
PRESS INFORMATION
SECTOR REVIEWS
POWER TURBO-SYSTEMS
Order intake at €306 million for the first quarter of fiscal year 2005 was weak,
after a very strong previous quarter.
The main order received in the first quarter of fiscal year 2005 was for a
turnkey combined cycle power plant including two gas turbines GT13E2 to Gautami
Power Ltd in India.
The level of sales at €470 million reflected the declining order volumes of the
first half of fiscal year 2004. Power Turbo-Systems has not yet benefited from
the improvement of the second half of last year's orders.
POWER ENVIRONMENT
The level of order intake in the first quarter of fiscal year 2005 amounting to
€935 million, was well above the corresponding period of last year, in line with
the improvement of the second semester of fiscal year 2004. This reflected the
continuing sound market in environmental control and in hydro. By geography,
high growth was registered in China and North America.
Main orders received included environmental control systems for EDF in France
and Bechtel in the US, a turnkey coal plant for Rothensee in Germany and two
hydro contracts in China.
Sales at €465 million were down the same period of last year, reflecting the low
level of orders in the first half of fiscal year 2004.
POWER SERVICE
Order intake in the first quarter of fiscal year 2005, at €930 million, was 25%
above the same period last year and was outgrowing last year trend, confirming
the continued development of this activity. A significant increase was recorded
in Middle-East.
Sales at €754 million, increased by 11% compared to the same period of last
year, in line with continuous order growth.
ALSTOM - 25 avenue Kléber - 75795 Paris Cedex 16 - Tel : 33 (0)1 47 55 25 87 -
Fax : 33 (0)1 47 55 24 38
PRESS INFORMATION
TRANSPORT
Orders at €1,559 million in the first quarter of fiscal year 2005 remained at a
particularly high level, confirming our good position in an active market,
especially in Europe.
The main orders received included the booking of locomotives for SNCF in France
and a maintenance contract in Australia. Transport also finalised a major
maintenance contract for Bucharest metro and confirmed its success on the
tramway market with the registration of two contracts for Nice in France and
Tenerife Island in Spain.
In the first quarter of fiscal year 2005, sales were at €1,264 million, up 18%
as compared to the same period of last fiscal year.
MARINE
No order was received in the first quarter of fiscal year 2005. Negotiations are
on-going with MSC for the signature of two 1,300 cabins cruise-ships and with
Gas de France for an additional LNG carrier.
The sales figure at €166 million reflected the phasing of revenue recognition
during the period, including the delivery of a cruise-ship to MSC.
POWER CONVERSION
In the first quarter of fiscal year 2005, orders received stood at €140 million,
with main orders located in Germany and in the US.
Sales amounted to €130 million, 11% higher than the corresponding period last
year.
- ends -
CONTACTS
Press enquiries: Gilles Tourvieille / S. Gagneraud
(Tel. +33 1 47 55 23 15)
internet.press@chq.alstom.com
Investor relations: Emmanuelle Châtelain
(Tel. +33 1 47 55 25 33) investor.relations@chq.alstom.com
M Communications: L. Tingström
(Tel. + 44 789 906 6995)
tingstrom@mcomgroup.com
Internet: http://www.alstom.com
ALSTOM - 25 avenue Kléber - 75795 Paris Cedex 16 - Tel : 33 (0)1 47 55 25 87 -
Fax : 33 (0)1 47 55 24 38
PRESS INFORMATION
APPENDIX 1
REPORTED FIGURES (Unaudited)
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| TOTAL GROUP FY 2004 FY 2005 |
| ACTUAL FIGURES --------------------------------- -----------------|
| (IN € MILLION) Q1 Q2 Q3 Q4 Q1 Q1/Q1 | |
| --------------------------------- -----------------|
| Power Turbo-Systems 514 325 663 961 306 (40%) |
| Power Environment 476 566 1 009 593 935 96% |
| Power Service 814 554 1 011 644 930 14% |
| APC 101 122 84 127 140 39% |
| Transport 884 788 1 164 1 873 1 559 76% |
| Marine 105 235 17 24 8 (92%) |
| Corporate and others 51 6 53 185 63 24% |
| --------------------------------- -----------------|
| OR NEW ALSTOM 2 945 2 596 4 001 4 407 3 941 34% |
| --------------------------------- -----------------|
| T&D 821 757 653 0 0 |
| Industrial turbines 269 51 0 0 0 |
| --------------------------------- -----------------|
| TOTAL ORDERS RECEIVED 4 035 3 404 4 654 4 407 3 941 (2%) |
| --------------------------------- -----------------|
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| TOTAL GROUP FY 2004 FY 2005 |
| ACTUAL FIGURES --------------------------------- -----------------|
| (IN € MILLION) Q1 Q2 Q3 Q4 Q1 Q1/Q1 |
| --------------------------------- -----------------|
| Power Turbo-Systems 584 627 460 710 470 (20%) |
| Power Environment 624 707 635 712 465 (25%) |
| Power Service 705 656 769 617 754 7% |
| APC 117 104 130 148 130 11% |
| Transport 1 060 1 237 1 151 1 414 1 264 19% |
| Marine 441 381 63 112 166 (62%) |
| Corporate and others 43 17 54 127 63 47% |
| --------------------------------- -----------------|
| SALES NEW ALSTOM 3 574 3 729 3 262 3 840 3 312 (7%) |
| --------------------------------- -----------------|
| T&D 630 711 732 0 0 |
| Industrial turbines 137 73 0 0 0 |
| --------------------------------- -----------------|
| TOTAL SALES 4 341 4 513 3 994 3 840 3 312 (24%) |
| --------------------------------- -----------------|
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ALSTOM - 25 avenue Kléber - 75795 Paris Cedex 16 - Tel : 33 (0)1 47 55 25 87 -
Fax : 33 (0)1 47 55 24 38
PRESS INFORMATION
APPENDIX 2
COMPARABLE FIGURES (Unaudited)
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| TOTAL GROUP FY 2004 FY 2005 |
| COMPARABLE FIGURES --------------------------------- -----------------|
| (IN € MILLION) Q1 Q2 Q3 Q4 Q1 Q1/Q1 |
| --------------------------------- -----------------|
| Power Turbo-Systems 457 377 664 965 306 (33%) |
| Power Environment 470 556 992 597 935 99% |
| Power Service 743 594 1 013 652 930 25% |
| APC 101 122 84 126 140 39% |
| Transport 869 788 1 175 1 939 1 559 79% |
| Marine 105 235 17 24 8 (92%) |
| Corporate and others 51 6 53 137 63 24% |
| --------------------------------- -----------------|
| OR NEW ALSTOM 2 796 2 678 3 998 4 439 3 941 41% |
| --------------------------------- -----------------|
| T&D 0 0 0 0 0 |
| Industrial turbines 0 0 0 0 0 |
| --------------------------------- -----------------|
| TOTAL ORDERS RECEIVED 2 796 2 678 3 998 4 439 3 941 41% |
| --------------------------------- -----------------|
------------------------------------------------------------------------------
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| TOTAL GROUP FY 2004 FY 2005 |
| COMPARABLE FIGURES --------------------------------- -----------------|
| (IN € MILLION) Q1 Q2 Q3 Q4 Q1 Q1/Q1 |
| --------------------------------- -----------------|
| Power Turbo-Systems 580 629 464 712 470 (19%) |
| Power Environment 611 688 631 715 465 (24%) |
| Power Service 678 653 768 624 754 11% |
| APC 117 103 131 149 130 11% |
| Transport 1 071 1 226 1 153 1 412 1 264 18% |
| Marine 441 381 63 112 166 (62%) |
| Corporate and others 43 17 54 73 63 47% |
| --------------------------------- -----------------|
| SALES NEW ALSTOM 3 541 3 697 3 263 3 798 3 312 (6%) |
| --------------------------------- -----------------|
| T&D 0 0 0 0 0 |
| Industrial turbines 0 0 0 0 0 |
| --------------------------------- -----------------|
| TOTAL SALES 3 541 3 697 3 263 3 798 3 312 (6%) |
| --------------------------------- -----------------|
------------------------------------------------------------------------------
ALSTOM - 25 avenue Kléber - 75795 Paris Cedex 16 - Tel : 33 (0)1 47 55 25 87 -
Fax : 33 (0)1 47 55 24 38
PRESS INFORMATION
APPENDIX 3
GEOGRAPHIC BREAKDOWN
REPORTED FIGURES (Unaudited)
--------------------------------------------------------------------------------------------
| ORDERS SALES |
| ----------------------------------- --------------------------------|
| FY 2004 FY 2004 FY 2004 FY 2004 |
| ------------ ------------ --------- ---------- |
| (IN € MILLION) Q1 Q1 VAR Q1 Q1 VAR |
| Europe 1 957 2 177 11% 2 037 1 737 -15% |
| North America 648 609 -6% 721 521 -28% |
| Latin America 147 182 24% 277 106 -62% |
| Africa/Middle-East 707 145 -79% 303 376 24% |
| Asia/Pacific 576 828 44% 1 003 572 -43% |
| ----------------------------------- --------------------------------|
| TOTAL 4 035 3 941 -2% 4 341 3 312 -24% |
| ----------------------------------- --------------------------------|
--------------------------------------------------------------------------------------------
ALSTOM - 25 avenue Kléber - 75795 Paris Cedex 16 - Tel : 33 (0)1 47 55 25 87 -
Fax : 33 (0)1 47 55 24 38
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
The foregoing document contains, and other written or oral reports and
communications of ALSTOM may from time to time contain, forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Examples of such forward-looking statements include, but are not limited to, (i)
projections or expectations of sales, income, operating margins, dividends,
provisions, cash flow, debt or other financial items or ratios; (ii) statements
of plans, objectives or goals of the Group or its management; (iii) statements
of future product or economic performance; and (iv) statements of assumptions
underlying such statements. Words such as "believes", "anticipates", "expects",
"intends", "aims", "plans" and "will" and similar expressions are intended to
identify forward-looking statements but are not the exclusive means of
identifying such statements. By their very nature, forward-looking statements
involve risks and uncertainties that the forecasts, projections and other
forward-looking statements will not be achieved. Such statements are based on
ALSTOM's current plans and expectations and are subject to a number of important
factors that could cause actual results to differ materially from the plans,
objectives and expectations expressed in such forward-looking statements. These
factors include the factors listed below as well as those described in ALSTOM's
Annual Report on Form 20-F for ALSTOM's fiscal year ended March 31, 2004 at Item
3: "Key Information - Risk Factors": (i) the inherent difficulty of forecasting
future market conditions, level of infrastructure spending, GDP growth
generally, interest rates and exchange rates; (ii) the effects of, and changes
in, laws, regulations, governmental policy, taxation or accounting standards or
practices; (iii) the effects of currency exchange rate movements on the pricing
and competitiveness of ALSTOM'S products, and on the cost of raw materials; (iv)
the effects of competition in the product markets and geographic areas in which
ALSTOM operates; (v) ALSTOM's ability to increase market share, control costs
and enhance cash generation while maintaining high quality products and
services; (vi) the timely development of new products and services; (vii) the
ability to obtain shareholder approval for and implement ALSTOM's new financing
package; (viii) the ability to meet, as necessary, the financial and other
covenants contained in ALSTOM's financing agreements; (ix) the ability to
renegotiate ALSTOM's Bonding Facility in order to obtain bid, performance and
other bonds in amounts that are sufficient to meet the needs of ALSTOM's
businesses; (x) the timing of and ability to meet the cash generation and other
initiatives of the action plan and the financing plans, including the ability to
dispose of certain real estate and other assets on favourable terms or in a
timely fashion; (xi) the results of investigations by the United States
Securities and Exchange Commission ("SEC") and the Autorite des Marches
Financiers; (xii) the outcome of the putative class action lawsuits filed
against ALSTOM and certain of ALSTOM's current and former directors and
officers; (xiii) the results of the European Commission's review of the French
State's involvement in ALSTOM's financing plans and other aspects of ALSTOM's
businesses; (xiv) the availability of external sources of financing on
commercially reasonable terms; (xv) the inherent technical complexity of many of
ALSTOM's products and technologies and ALSTOM's ability to resolve effectively,
on time, and at reasonable cost technical problems, infrastructure constraints
or regulatory issues that inevitably arise, including in particular the problems
encountered with the GT24/GT26 gas turbines and the UK trains; (xvi) risks
inherent in large contracts and/or significant fixed price contracts that
comprise a substantial portion of ALSTOM's business; (xvii) the inherent
difficulty in estimating future charter or sale prices of any cruise ship in any
appraisal of ALSTOM's exposure in respect of Renaissance Cruises and ships that
have been seized from Festival; (xviii) the inherent difficulty in estimating
ALSTOM's vendor financing risks and other credit risks, which may notably be
affected by customers' payment default; (xix) ALSTOM's ability to invest
successfully in, and compete at the leading edge of, technology developments
across all of ALSTOM's sectors; (xx) the availability of adequate cash flow from
operations or other sources of liquidity to achieve management's objectives or
goals, including ALSTOM's goal of reducing indebtedness; (xxi) whether certain
of ALSTOM's markets, particularly the Power Sectors, recover from their
currently depressed state; (xxii) the possible impact on customer confidence of
ALSTOM's financial difficulties, and if so, ALSTOM's ability to re-establish
this confidence; (xxiii) the effects of acquisitions and disposals generally;
(xxiv) the unusual level of uncertainty at this time regarding the world economy
in general; and (xxv) ALSTOM's success in adjusting to and managing the
foregoing risks.
We caution you that this list of important factors is not exhaustive; when
relying on forward-looking statements to make decisions with respect to ALSTOM,
you should carefully consider the foregoing factors and other uncertainties and
events, as well as other factors described in other documents ALSTOM files with
or submits to, from time to time, the SEC, including reports submitted on Forms
20-F and 6-K. Such forward-looking statements speak only as of the date on which
they are made, and ALSTOM undertakes no obligation to update or revise any of
them, whether as a result of new information, future events or otherwise.
7th July 2004
GREEN LIGHT FROM THE EUROPEAN COMMISSION
ALSTOM has taken note of today's decision by the European Commission to confirm
the agreement in principle reached on 26 May 2004 between the French State and
the Commission which approved, under certain conditions, the French State's
participation in the ALSTOM financing package. The French State therefore
becomes a shareholder (approximately 18.5%) in the Company through the
conversion into equity of a 20-year loan granted last summer (TSDDRA).
This confirmation is, after the agreement of our banks on new financial
covenants announced on 23rd June 2004, the second important step in the
implementation of the financing plan. The third one is the shareholders meeting
to be held on 9 July.
Press relations: S. Gagneraud / G. Tourvieille
(Tél. +33 1 47 55 25 87)
internet.press@chq.alstom.com
Investor relations: E. Chatelain
(Tél. +33 1 47 55 25 33)
Investor.relations@chq.alstom.com