Alstom reports preliminary results with record orders but weaker profitability
Rail transport manufacturer Alstom announced preliminary financial results for fiscal year 2025/26, reporting a record order intake but profitability below expectations due to project execution challenges.
Alstom, a global leader in rail transport solutions, released its preliminary, unaudited financial results for fiscal year 2025/26 on April 16, 2026. The company secured a record order intake of €27.6 billion, pushing its total backlog to over €100 billion. Sales increased by 4%, with organic growth reaching 7% during the period.
The adjusted profit margin stood at approximately 6%. Alstom attributed this figure to longer-than-anticipated production ramp-up phases and supply chain constraints affecting a limited number of rolling stock projects. Free cash flow was around €330 million, falling short of expectations due to unfavorable factors impacting contract-related working capital.
"While the Group delivered a strong order intake and met its cash generation targets in FY25/26, profitability lagged behind expectations," stated new CEO Martin Sion in a press release. He further indicated that the company is initiating immediate actions to stabilize performance and is preparing deeper operational changes to restore sustainable execution, cash generation, and profitable growth.
For fiscal year 2026/27, Alstom projects an improved adjusted profit margin of approximately 6.5% and positive free cash flow. The company plans to unveil an operational transformation plan and new medium-term ambitions later in the fiscal year. The full, audited results for FY25/26 are scheduled for publication on May 13, 2026.