"The group will obviously comply with all sanctions and all applicable laws and has decided to suspend all deliveries to Russia," Alstom said in a statement, also confirming the "suspension of all future investment in Russia".
Alstom's turnover in Russia represented less than 0.5% of the group's consolidated turnover (which reached 14 billion euros pro forma in 2020/21), according to a spokesperson.
As for the 20% stake in Transmashholding (TMH), a Russian group "which mainly serves the local market", its book value "will be reassessed as part of the closing of the 2021/22 financial year" (which ends end of March), the group added.
“There was no commercial or operational link between Alstom and TMH,” he insisted.
In Alstom's financial report for the first half of 2021/22, the book value of Alstom's stake in TMH was €482 million.
TMH's contribution to Alstom's net income was slightly negative, at -2 million euros, the group recalled.
Alstom also indicated that the discussions around the sale of 188 locomotives to the Ukrainian railways UZ, for 880 million euros - and 2.4 billion by adding maintenance over forty years -, were "suspended due to the context" .
The CEO of Alstom Henri Poupart-Lafarge had signed on February 8 in Kiev, under the eyes of Emmanuel Macron, a memorandum of understanding which provided for the signing of the contract before March 31.
The financing protocol was finalized in May during a visit by Economy Minister Bruno Le Maire to Ukraine.
Alstom said in its press release that the contract did not appear in its order book or in the group's 2021/22 outlook.
Apart from this contract, which was mainly to benefit the Alstom factory in Belfort, the group's sales in Ukraine were "negligible", according to a spokesperson.
In two weeks of conflict in Ukraine, Alstom shares have lost more than 15% on the Paris Stock Exchange.
It rose 6.48% on Wednesday morning at 9:38 a.m. (0838 GMT) in a market up 3.60%.
© 2022 AFP