Alstom's Fiscal Year 2025/26 Results

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Alstom , global leader in smart and sustainable mobility, reports financial results for the fiscal year FY 2025/26. Martin Sion , Chief Executive Officer of Alstom , said: 'Market momentum is strong, and we have made good progress in recent years, including strong Services performance, improved order quality and strengthened balance sheet. While our teams deliver successfully every day across our portfolio, execution on some major rolling stock contracts continues to weigh on near-term margins and cash generation. This is why our priority is to improve execution quality, including tighter day-to-day project management, reinforced planning discipline and improved coordination across engineering, supply chain and manufacturing. Alstom's strategy and operational plan will be presented at a Capital Markets Day early 2027. The disciplined implementation of this plan is intended to support a progressive improvement in adjusted EBIT margin towards 8-10% over time as well as improved cash generation.' During the fiscal year 2025/26, the Group achieved significant commercial success across multiple geographies, particularly in Europe , in the Americas and in Asia/Pacific , and product lines, mostly in rolling stock and systems. The order intake reached EUR27.6 billion , a 39% increase compared to EUR19.8 billion in the fiscal year 2024/25. In Europe , Alstom recorded an order intake of EUR15.6 billion during the fiscal year 2025/26, compared to EUR13.1 billion in the previous fiscal year. In Portugal , Alstom secured a EUR1.03 billion contract with Comboios de Portugal (CP) to supply 153 Adessia Stream trains, supporting the renewal of Portugal's rail fleet and the expansion of capacity on key passenger routes. In Poland , Alstom signed a landmark agreement with PKP Intercity, Poland's national long-distance rail operator, to deliver 42 Coradia Max double-deck electric multiple units (EMUs) along with 30 years of full-service maintenance. The contract is worth approximately EUR1.6 billion . In France , The SNCF Voyageurs Board of Directors has approved an additional order for 30 new-generation Avelia Horizon very high-speed trains for around EUR1.4 billion . The new Avelia Horizon trains will be operated by Eurostar and will travel through the Channel Tunnel , a first for a double-deck high-speed train. Moreover, Alstom has won an additional order for 15 new-generation Avelia Horizon very high-speed trains, worth approximately EUR600 million . Alstom has secured a contract to supply SNCF Voyageurs with 96 additional RER NG trainsets, valued at approximately EUR1.7 billion , following the financing agreement by Ile-de-France Mobilites. In Serbia , Alstom will deliver a fully integrated, turnkey metro solution, including 32 Metropolis trains. The contract is worth approximately EUR915 million . Last year's performance in Europe was predominantly driven by significant orders from customers in Germany , France , United Kingdom , and Italy . In the Americas , Alstom reported an order intake of EUR7.9 billion in the fiscal year 2025/26, compared to EUR3.4 billion in the 2024/25 fiscal year. In the United States Alstom won two major contracts. The first contract, valued at EUR2.0 billion , involves the manufacture of 316 commuter rail cars for the Long Island Rail Road (LIRR) and Metro North Railroad . The second major contract in United States was signed to supply NJ TRANSIT with an additional 200 Multilevel III commuter rail cars and 12 ALP-45 dual-power locomotives to modernize its fleet. This new rolling stock purchase is valued at EUR1.0 billion . This fleet will serve passengers traveling within the state and commuting to New York City and Philadelphia . In Canada , Alstom will manufacture 70 state-of-the-art, six-car Metropolis metro trains for the Toronto Transit Commission (TTC). The agreement includes new subway trains to replace the fleet on Toronto's Line 2 and to support subway extension projects. The contract is worth approximately EUR1.4 billion . Last year's performance in the Americas was driven by significant orders from Metrolinx and from the Port Authority of New York and New Jersey (PANYNJ). In Asia/Pacific , the order intake reached EUR2.9 billion in the fiscal year 2025/26, compared to EUR1.7 billion in fiscal year 2024/25. In Australia , Alstom , as part of the TransitLinX Alliance , has been awarded a EUR1.0 billion share of a EUR4.9 billion contract by the Suburban Rail Loop Authority in Melbourne . The share includes 13 automated Metropolis metro trains with 15-year maintenance, the Urbalis Communications Based Train Control (CBTC) system, cybersecurity, wired and wireless communications, stations platform screen doors, as well as overall system integration. In New Zealand , Alstom has secured a EUR538 million contract in Wellington for 18 Adessia Stream B battery trains and 35 years of maintenance. Last year's performance in Asia/Pacific was driven by significant contract with the Public Transport Authority of Western Australia (PTA) in Australia . In Africa / Middle East / Central Asia , the Group reported EUR1.3 billion order intake compared to EUR1.6 billion over the same period last fiscal year. Alstom has signed a systems contract in the AMECA region, as part of a consortium. Alstom's share represents approximately 30% of the total contract value, corresponding to approximately EUR700 million . Last year's performance in Africa / Middle East / Central Asia was predominantly driven by significant order from the Moroccan National Railway Office (ONCF). Operational milestones In France , Alstom's MF19 new-generation metro entered service on Line 10 of the Paris Metro in October 2025 , marking a major milestone in the modernisation of the Ile-de-France Mobilites network. MF19 will replace three generations of rolling stock across eight lines. Alstom's latest CBTC-based on-board speed control system, developed in partnership with RATP and meeting its Octys standards, has been successfully launched on Line 10. In Spring 25, Alstom also delivered the first trainset for Line 18 of the Grand Paris Express, marking the start of testing on the new line's infrastructure. Following an extensive testing programme, the submission of the TGV M authorisation for placing on the market to the European Union Agency for Railways (ERA) in December 2025 marks the start of the final phase of the approval process ahead of the launch of commercial service. In the United States , Alstom marked the launch of Amtrak's NextGen Acela service on the Northeast Corridor in August 2025 , bringing America's fastest trains into commercial operation at speeds of up to 160 mph. Built in the United States , the new fleet offers increased capacity and enhanced passenger comfort while modernising the country's busiest rail corridor. At North American airports, Alstom demonstrated strong execution in Automated People Movers (APMs). In March 2026 , new Innovia R vehicles entered passenger service at Tampa International Airport as part of a major modernisation of the airport's system. In February 2026 , the Group also completed delivery of the initial 26 car Innovia APM fleet for Denver International Airport , with an additional 19 vehicles ordered in 2025 to further expand and renew the system. In December 2025 , Alstom delivered Australia's first brownfield CBTC installation with the opening of Melbourne's Metro Tunnel . The project deploys Urbalis Flo CBTC on an existing network, enabling higher frequency services and reduced headways. The new tunnel and signalling system more than double Melbourne's underground rail network. In India , Alstom's metro trains entered commercial service in Bhopal in December 2025 , marking a major step in the country's urban transport modernisation, integrating the latest generation of CBTC signalling technology to ensure enhanced safety, reliability, and operational efficiency. In Delhi , Metro Line 7 and Line 8 extensions commenced revenue service in March 2026 with Alstom's Metropolis trains, and Alstom's CBTC based signalling was delivered for the Line 7 extension. In the fiscal year 2025/26, Alstom produced 4,284 cars, down 2% compared to 4,383 in the prior fiscal year. In particular, following a broadly flat performance over the first nine months of the fiscal year 2025/26, the Group produced 1,206 cars in the fourth quarter down 6% compared to 1,282 over the same period in the prior fiscal year. Sales Alstom's sales amounted to EUR19.2 billion for the fiscal year 2025/26, representing 4% growth on an actual basis and 7% on an organic basis as compared to the prior fiscal year. In Europe , sales reached EUR11.6 billion , accounting for 61% of the Group's total sales and representing an increase of 11% on an actual basis. It was mainly driven by the continued execution of large rolling stock contracts, including the RER NG trains for Ile-de-France Mobilites network, the Regio 2N regional trains, the Avelia high-speed trains for SNCF, the Coradia Stream regional trains for Trenitalia in Italy and the double-deck M7-type multifunctional coaches for SNCB in Belgium . The ramp-up of Coradia Max contracts in Germany has also been a strong growth contributor. On the other hand, large rolling stock contracts such as trains for the Paris Metro for RATP in France is close to completion, therefore generating lower level of sales as compared to the same period in the prior fiscal year. In Americas , sales stood at EUR3.2 billion , accounting for 17% of the Group's sales, with 9% in the United States alone. This marks a 12% decrease compared to same period last fiscal year on an actual basis, and a 3% decrease on an organic basis. The decline in organic revenue was mainly driven by the ramp-down in the Latin Americas, in particular Tren Maya project for the National Fund for the Promotion of Tourism in Mexico reaching the end of its manufacturing phase, together with the Metropolis trains for Sao Paulo Metropolitan Train System in Brazil . The projects of San Francisco Bart and Multilevel III commuter cars for NJ Transit remain key sales contributors within the North America region. Reported sales were also impacted by the disposal of the North American signalling business during the prior fiscal year. In Asia/Pacific , sales amounted to EUR2.6 billion , accounting for 13% of the Group's sales and representing a decrease of 5% compared to last year on an actual basis and an increase of 1% on an organic basis. Organic growth was delivered mainly in Systems, driven by the North-South Commuter Railway Extension project in Philippines and the Wanda line project in Taiwan , and in Services with the ramp-up of maintenance contract for VLocityTM regional trains fleet in Victoria in Australia . In Africa / Middle East / Central Asia , sales stood at EUR1.8 billion , contributing to 9% to the Group's total sales and representing an increase of 7% compared to the prior fiscal year on an actual basis and 12% on an organic basis. The rolling stock contract for the X'Trapolis Mega commuter trains in South Africa as well as the Prima freight locos for Kazakh Railways are the main sales contributors within the region. (C) 2026 Electronic News Publishing, source ENP Newswire

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