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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Alstom    ALO   FR0010220475

ALSTOM

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German Finance Minister: Mistake to refuse creation of corporate European champions

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02/08/2019 | 03:40pm EDT
FILE PHOTO: German Chancellor Angela Merkel and Finance Minister Olaf Scholz

LONDON (Reuters) - German Finance Minister Olaf Scholz said on Friday Europe needed to allow the emergence of large European firms through consolidation to be able to compete with their global peers, such as those from the United States.

"Refusing the idea of building big European Champions by consolidation could be a mistake," Scholz said in a keynote speech at the London School of Economics.

"Sometimes size matters," he said in response to a question about the tie-up between Alstom and Siemens, which was blocked by the EU regulators, scuppering efforst to create a European rail champion.

Asked about the European Commission's sharp revision of economic growth rates across the block, Scholz said this was "not a catastrophe"

"There is a slowdown, but it is still growth...after many years of growth it is just something that happens," he said.

(Reporting by Karin Strohecker, editing by Abhinav Ramnarayan)

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Sales 2019 8 209 M
EBIT 2019 537 M
Net income 2019 711 M
Finance 2019 2 270 M
Yield 2019 1,24%
P/E ratio 2019 13,74
P/E ratio 2020 20,25
EV / Sales 2019 0,84x
EV / Sales 2020 0,76x
Capitalization 9 155 M
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