French group Alstom targets higher sales, profit for 2023

PARIS (Reuters) - French transport infrastructure group Alstom, whose planned tie-up with Siemens' rail arm was scrapped earlier this year, outlined a new strategy plan on Monday aimed at boosting its sales and profit for 2022-2023.

Alstom said it was targeting an adjusted EBIT (earnings before interest and tax) margin of about 9% in 2022-2023, up from an adjusted EBIT margin of 7.1% in 2018-2019.

The company added it would target an average annual growth rate of sales of about 5% for the 2019-2023 period and would set out a dividend policy with a targeted pay-out ratio between 25% and 35%.

(Reporting by Sudip Kar-Gupta, Editing by Sherry Jacob-Phillips)