French engineering giant Alstom has credited the strong commercial performance of its renewable power division in 2013/14 to several hydro orders booked over the period, along with successes in wind, notably in Brazil.
Alstom Renewable Power registered €2.6B of orders in the year to March 2014, up by 40% from €2.0B in 2012/13. The division, which offers EPC solutions, turbines and generators, control equipment and maintenance for the hydro, wind, geothermal and solar power sectors, was the only business unit within Alstom that saw the value of its orders increase year on year.
Overall, Alstom booked €21.5B of orders in FY 2013/14, down 10% compared to last year.
Alstom says that growth in renewable power orders was "fuelled by hydro projects booked in Albania, Turkey, Canada, India, Israel, and by strong orders in wind in Brazil."
The company highlighted the €120M contract for work on the 300MW Gilboa pumped storage power plant in Israel, and the €100M deal to supply six Francis turbine-generators for two new hydropower plants on the Devoll river in Albania, as 'major commercial successes.'
In FY 2013/14, Alstom also won three major contracts in Turkey for work on the Alpaslan II (292MW), Upper Kaleköy 1 (636MW) and Tepekisla 2 (72MW) hydro projects, worth around €100M in total.
In India, Alstom was awarded another contract worth over €100M by GVK Power and Infrastructure Ltd to equip the 850MW Ratle hydropower plant.
In Canada, Alstom booked a C$90M order one of four new powerhouses that make up Hydro-Québec's 1550MW La Romaine hydroelectric complex.
Between 1 April 2013 and 31 March 2014 Alstom's sales stood at €20.3B, showing a 4% organic growth compared to last year. Income from operations amounted to €1,424M, down 3%, with a 7% operating margin. The net profit decreased from €768M in 2012/13 to €556M, affected mainly by higher restructuring and financial charges as well as some specific write-offs and provisions.
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