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 June 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 June 5, 2004, "Algerian Railways Awards ALSTOM a
Railway-Electrification Contract Worth 88 Million Euros"
Press release dated June 23, 2004, "New Covenants Agreed"
Press release dated June 23, 2004, "Tunis Chooses ALSTOM's Citadis Trams"
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 1, 2004 By: /s/ Philippe Jaffré
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Name: Philippe Jaffré
Title: Chief Financial Officer
5 June 2004
ALGERIAN RAILWAYS AWARDS ALSTOM
A RAILWAY-ELECTRIFICATION CONTRACT
WORTH 88 MILLION EUROS
The national Algerian railway company, SNTF, has awarded an ALSTOM-led
consortium a contract worth 88 million euros for the electrification of three
railway lines in the suburbs of the capital, Algiers. The contract was signed on
5 June in presence of Nicolas Sarkozy, France's Minister of Economy, Finance and
Industry, Mohamed Maghlaoui, Algeria's Minister of Transport, Patrick Kron,
Chairman and CEO of ALSTOM and Abdelhamid Lalaimia, CEO of SNTF.
Under the scope of the contract, ALSTOM will supply and install 300 kilometres
of catenary and three power substations (25 kV). ALSTOM's share of the contract
is 71 million euros.
The electrification of the lines - Algiers to Thenia, Oued Smar to Gue of
Constantine, and El Harrach to El Afroun - is scheduled to be completed by the
end of 2007.
The upgrade will allow the SNTF to improve service in the Algiers suburbs. New
electric multiple units with passenger carrying capacity of 1,800 and top speeds
of 120 km/h will operate on the lines. The SNTF expects to increase its traffic
from 20 million passengers a year currently to 60 million by the year 2010.
ALSTOM's partners in the consortium are Infrarail, a subsidiary of SNTF, which
will carry out civil works, and Baticim, which will supply poles and other
steelwork.
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
23 June 2004
NEW COVENANTS AGREED
ALSTOM's banks have given their unanimous consent to a new set of financial
covenants and to the amendments to its credit agreements required to allow the
implementation of the financial plan.
This constitutes an important step towards the implementation of the global
financial plan presented on May 26 2004, aiming at securing access to bonds and
strengthening the balance sheet.
The two next steps are the EC's approval and shareholders' approval.
Press relations: S. Gagneraud/G. Tourvieille
Tel : +33 1 47 55 25 87
Internet.press@chq.alstom.com
Investor relations: E. Châtelain
Tel : +33 1 47 55 25 33
Investor.relations@chq.alstom.com
Minimum Minimum Maximum Total Maximum Minimum
Interest consolidated debt net debt EBITDA
Cover net worth leverage
(a) (b) (c) (d) (e)
Covenants ---------- --------------- ------------- ----------- ---------
(in € million) (in € million)
September 2004 1,000 4,800
December 2004 4,600
March 2005 1,100 4,450
June 2005 4,650
September 2005 850 4,650 0
December 2005 4,600
March 2006 3 1,150 4,450 4.0
June 2006 4,400
September 2006 3 1,150 4,400 3.6
December 2006 4,400
March 2007 3 1,150 4,400 3.6
June 2007 4,400
September 2007 3 1,150 4,400 3.6
December 2007 4,400
March 2008 3 1,150 4,400 3.6
June 2008 4,400
(a) Ratio of EBITDA (see (e) below) to consolidated net financial expense
(interest expense plus securitisation expenses less interest income).
(b) Sum of shareholders' equity (excluding the cumulative impact of any
deferred tax assets impairments arising after 31 March 2004) and minority
interests (this covenant will not apply if and for as long as ALSTOM is
Investment Grade). For Dates on or after 30 September 2004, the amounts
specified above shall be increased by the net amount received by ALSTOM over
and above EUR 1.700.000.000 from the capital increases planned in the
financial plan presented on 26 May 2004.
(c) Sum of the financial debt and the net amount of sale of trade receivables
(this covenant will not apply if and for as long as ALSTOM is Investment
Grade). For dated on or after September 2004, the amounts specified above
shall be decreased by the amount of the Total Debt that is extinguished
pursuant to the debt for equity swap that is part of the financial plan
presented on 26 May 2004
(d) Ratio of total net debt (total financial debt less short-term investments
and cash and cash equivalents) to EBITDA (see (e) below).
(e) Earnings Before Interest and Tax plus depreciation and amortisation as set
out in Consolidated Statements of Cash Flow less goodwill amortisation and
less capital gain on disposal of investments.
23 June 2004
TUNIS CHOOSES ALSTOM'S CITADIS TRAMS
The Société du Metro Leger de Tunis (SMLT) has announced the provisional award
to ALSTOM of an order worth €80 million for 30 CITADIS tramways. SMLT also
provisionally awarded an order worth €22 million to a consortium of ALSTOM and
SBF, a Tunisian civil-works company, for the infrastructure work for a line
extension.
The new CITADIS tramways will reinforce and renew the fleet of the SMLT, which
operates a 32-kilometer "light metro" network with five lines, a suburban
railway line and a bus network in the Tunisian capital.
These 30-meter long vehicles will offer rapid, comfortable and safe service. The
low floors will offer easy access for all passengers, including those with
reduced mobility. The trams will operate on the current network and on two
future extensions of seven kilometres each.
The infrastructure award concerns the first of these two extensions. ALSTOM will
be responsible for the energy systems and for a part of the trackwork, and its
part of the order will be about 50 percent. Beginning of service on the
extension is planned for mid 2006.
"We're very happy to count the SMLT among our clients and Tunis among the 19
cities that have chosen ALSTOM's CITADIS. The city will be the first on the
African continent to use these tramways," said Philippe Mellier, President of
ALSTOM's Transport Sector. "This choice of ALSTOM in a highly competitive
international environment is a testimony to the proven quality of our systems
and products for rail transport."
The CITADIS design concept combines standardisation of modular, service-proven
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. ALSTOM has sold 600 CITADIS trams around the world. CITADIS trams
in commercial service have carried 400 million passengers over 30 million
kilometres.
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