Patrick Kron, Alstom chief executive, on Tuesday conceded that his dream of merging the trains to turbines group with nuclear company Areva appeared to be receding, but staked his claim to his target’s lucrative energy transport business.

Unveiling a 30 per cent rise in annual net profit to €1.2bn ($1.6bn), Mr Kron said that Alstom would be a bidder for the business, valued at between €3bn and €5bn, if Areva should decide to sell.