ALSTOM S.A: Aide-memoire ahead of H1 2026/27 publication
Aide-memoire ahead of H1 2026/27 publication
REMINDER: This Aide-Memoire is intended solely as a retrospective summary of information previously disclosed by Alstom. It does not contain any new information and does not constitute an early release of results.
6 October 2026 – Alstom presents below an aide-memoire ahead of its H1 2026/27 results to be released on 17 November at 6pm CET.
Orders
Alstom reported €2.6bn of orders in Q1 2026/27.
The table below summarises the large orders (more than €200m per order) booked during the second quarter.
In addition, the table below shows the total value of base orders (less than €200m per order) that have historically been booked in Q2 in the last four fiscal years, keeping in mind seasonality (H2 generally stronger for base orders than H1).
| Orders destination | Value (in € million) | Description | Link to press release |
|---|---|---|---|
| Israel | 750 | Turnkey LRV contract with long term maintenance | Link |
| Australia | 270 | Option for 25 additional commuter trains | Link |
| Canada | 3,000 | 313 rail cars with 15-year maintenance | Link |
| UK | 1,200 | 29 battery-electric trains with maintenance | Link |
| Saudi Arabia | ~460 | Driverless metro trains for 3 lines and maintenance | Link |
| Sweden | ~350 | Option for 35 additional high speed regional trains | Link |
| South Africa | 800 | 8 commuter trains, signalling system & maintenance | Link |
| Q2 orders (in € billion) | FY 2022/23 | FY 2023/24 | FY 2024/25 | FY 2025/26 |
|---|---|---|---|---|
| Base orders (less than €200m) | 2.4 | 1.5 | 2.2 | 2.1 |
| Large orders (more than €200m) | 2.0 | 3.1 | 5.1 | 4.3 |
| Total order intake | 4.4 | 4.6 | 7.3 | 6.4 |
Operations
In the first six months of the fiscal year 2026/27, the Group has achieved key operational milestones:
- Homologation: The TGV‑M has received marketing authorisation from the European Union Agency for Railways.
- Serial production: The Regio2N platform in France has reached its 500th manufactured trainset, while Alstom has finalised delivery of the 106-train fleet renewal programme for Singapore’s NorthSouth and East-West MRT lines.
- Entry into service of rolling stock across multiple geographies including Australia (metros in Perth, trams in Melbourne), the United Sates (Hartsfield–Jackson Atlanta International Airport), Egypt (Cairo Monorail), Brazil (metros in Sao Paulo), France (battery-powered trains).
Sales
At the FY 2025/26 results on 13 May 2026, Alstom guided for organic sales growth of around 5% for FY 2026/27.
Alstom reported Q1 2026/27 organic sales growth of 4.8%
Regarding inorganic sales drivers:
- Alstom expects foreign exchange to be slightlypositive on H1 FY 2026/27 sales (breakdown of sales by currency is given on page 34 of the FY 2025/26 analyst presentation).
- No scope impact on H1 FY 2026/27 sales.
Adjusted EBIT
The table below shows the adjusted EBIT margin reported in recent years.
| FY 2021/22 | H1 2022/23 | FY 2022/23 | H1 2023/24 | FY 2023/24 | H1 2024/25 | FY 2024/25 | H1 2025/26 | FY 2025/26 |
|---|---|---|---|---|---|---|---|---|
| 5.0% | 4.9% | 5.2% | 5.2% | 5.7% | 5.9% | 6.4% | 6.4% | 6.1% |
Reminder of main elements of FY 2026/27 guidance
- Group book-to-bill ratio above 1
- Sales organic growth around 5%
- Car production of 4,400-4,500
- Adjusted EBIT margin around 6.5%
- Positive Free Cash Flow
- Seasonality driving Free Cash Flow consumption of around €(1.5) billion in H1 FY2026/27
About Alstom
Alstom is the pure rail leader, committed to making rail the backbone of sustainable transport. We design and deliver a complete range of future-ready solutions – from high-speed and regional trains to metros, monorails, trams, turnkey systems, end-to-end services, infrastructure, signalling and digital rail solutions. With 87,800 people in 61 countries, Alstom brings together global expertise and local know how to make every journey smarter, cleaner and more enjoyable. Together with our partners and customers, we realise the power of rail. Listed in France, Alstom generated revenues of €19.2 billion for the fiscal year ending 31 March 2026.
For more information, please visit www.alstom.com
Contacts
Investor Relations:
Cyril GUÉRIN – T: +33 (0)6 07 89 36 16
cyril.guerin@alstomgroup.com
Guillaume GAUVILLE – T: +44 (0)7 588 022 744
guillaume.gauville@alstomgroup.com
Jalal DAHMANE – T: +33 (0)6 98 19 96 62
jalal.dahmane@alstomgroup.com
This document contains forward-looking statements which are based on current plans and forecasts of Alstom’s management. Such forward-looking statements are relevant to the current scope of activity and are by their nature subject to a number of important risks and uncertainty factors (such as those described in the documents filed by Alstom with the French AMF) that could cause actual results to differ from the plans, objectives and expectations expressed in such forward-looking statements. These forward-looking statements speak only as of the date on which they are made, and Alstom undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
This document does not constitute or form part of a prospectus or any offer or invitation for the sale or issue of, or any offer or inducement to purchase or subscribe for, or any solicitation of any offer to purchase or subscribe for any shares or other securities in the Company in France, the United Kingdom, the United States or any other jurisdiction. Any offer of the Company’s securities may only be made in France pursuant to a prospectus having received the visa from the AMF or, outside France, pursuant to an offering document prepared for such purpose. The information does not constitute any form of commitment on the part of the Company or any other person. Neither the information nor any other written or oral information made available to any recipient or its advisers will form the basis of any contract or commitment whatsoever. In particular, in providing the information, the Company, its affiliates, shareholders, and their respective directors, officers, advisers, employees or representatives undertake no obligation to provide the recipient with access to any additional information.