Alstom Unsp/Adr (ALSMY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to the outstanding half-year results for fiscal year 2025-2026. My name is George and I'll be your coordinator for today's event. Please note this conference is being recorded and for the duration of the call, your lines will be in the listen-only mode. However, you will have the opportunity to ask questions towards the end of the presentation and this will be done by pressing star 1 on your telephone keypad to register your question. If you require assistance any time, please press star zero and you'll be connected to an operator. I'd like to hand the call over to your hosts, Mr. Henri Poupard-Lafarge, CEO, and Mr. Bernard Bilpy, Executive Vice President and CFO. Please go ahead. Thank you. Thank you. Good evening. Good evening, everybody, and thanks for joining Alstom's first half results conference call. I'm Henri Poupal-Affar, Group CEO, and I'm joined by Bernard Delpit, EVP and CFO. I will first comment on the highlights of the first half before Bernard will walk you through the financial results. I will then comment on guidance before opening the floor for your questions. So let me start with the key figures for the first half. Orders reached 10.5 billion euros with strong commercial momentum in Q2, particularly driven by holding stock in North America. The book-to-bill ratios stood at 1.2, fully aligned with full year guidance. Sales came in at 9.1 billion euros, reflecting 7.9% organic growth with all product lines and regions contributing. Adjusted EBIT was 580 million euros, up 13% year-on-year, representing a 6.4 margin compared to 5.9% in the same period last year. Free cash flow was negative, 740 million euros as expected, reflecting typical in higher seasonality. The solid performance underscores the strength and resilience of our busi...