(AOF) – SNCF Voyageurs has confirmed the order for 35 additional RER NG trains from Alstom for an amount of nearly 520 million euros, 100% financed by Île-de-France Mobilités. This new order brings to 166 the total number of RER NG ordered for the RER D and RER E lines. The RER NG has been running on the RER E line since November 2023 and will be gradually deployed on the RER D line by the end of the 'year. This order is part of the framework contract signed in 2017 between SNCF Voyageurs and Alstom.
Since November 2023, the first RER NG have gradually been put into service on the RER E line.
Their deployment on the RER D line is planned by the end of 2024.
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Key points
– World leader in rail transport, from trams and metros to TGVs with 35% share of the global market, reinforced by the acquisition, in 2021, of Bombardier Transport;
– Turnover of €17.6 billion, 62% generated in Europe, 17% in the Americas, 14% in Asia-Pacific and 7% in the rest of the world;
– Offer covering all rail construction professions: rolling stock for 52% of sales, services (maintenance, remote control of vehicles, networks, passengers, etc.) for 24%, signaling for 15% and systems for 9%;
– Business model based on:
– the complementarity of geographical areas between Alstom -France, Italy, Spain, India, South-East Asia, North Africa and Brazil- and Bombardier Transportation -United Kingdom, Germany, Scandinavia, China and North America,
– control of the value chain and selectivity of order taking;
– Open capital, held 17.4% by the Caisse de dépôt et placement du Québec and 7.5% by BpiFrance, Philippe Petit-Colin chairing, since June 2024, the board of 12 directors, Henri Poupart-Lafarge being reappointed as general manager for the duration of his term as director.
Challenges
– Agility of the business model:
– adoption of industrial efficiency measures, reduction of overheads and indirect purchases and implementation of synergies with Bombardier Transport – €400 million in 2024/25 – in order to return to positive free self-financing;
– almost total control of component supplies,
– deployment of the digital suite across 100% of the group,
– innovation supported by €750 million in R&D (portfolio of 9,400 patents), serving autonomy & orchestration of mobility and data management – complete range of green traction, owned by fuel cell technology , fully connected transport fleets, etc.;
– Environmental strategy for decarbonization of activity:
– integrated into the innovation strategy: eco-design of the main solutions from 2025, strengthening of natural capital via eco-circularity and the supply of 80% of the electricity consumption of European sites by a Spanish solar farm in 2025
– quickly reducing scope 1 and 2 emissions to 139 ktonsnCO2e (-39% vs March 2022),
– using credit facilities and “green” loans;
– Good visibility, with an order book of 94.4 billion euros at the end of September 2024; subsequently reinforced by projects in Australia, Poland and Germany;
– Solid balance sheet reinforced by the €2 billion debt reduction plan secured in September: hybrid bond issue of €750 million, capital increase of €1 billion and securing the sale of the signaling activity in North America.
Challenges
– Benefits from participation in 30 European programs, including Shift2Rail and IPCEI Hydrogen;
– Results of tests and launches of high-speed or autonomous trains and locomotives;
– After a 5.1% increase in activity in the 1st quarter, 2024-25 objectives: ratio of orders to turnover greater than 1, increase in revenues of around 5%, operating margin of around 6.5% and free self-financing of €300 to €500 million;
– Towards supplying 80% of the electricity consumption of European installations by a Spanish solar farm operated from the beginning of 2025;
– 2024-25 objective: orders to turnover ratio greater than 1, increase in revenues of around 5%, operating margin of around 6.5% and free self-financing of €300 to €500 million;
