Alstom: half-year revenue at 9.3 billion (+3 per cent), cuts 2026/27 guidance

Adjusted margin at -4% due to issues with the Coradia Max

(Il Sole 24 Ore Radiocor) - Alstom has cut its forecasts for the 2026/27 financial year following a first half-year weighed down by execution issues on certain projects in Europe, particularly the Coradia Max platform. In the six months to 30 September, the French rail group posted revenues of €9.3 billion (+3 per cent) but with an adjusted EBIT margin of around -4 per cent, compared with +6.4 per cent a year earlier. The decline is largely due to the revision of gross margins on projects carried out for and by Germany. For the full financial year, Alstom now forecasts an adjusted EBIT margin of around 1 per cent (compared with the 6.5 per cent previously indicated), implying a rebound of around 6.5 per cent in the second half. Organic revenue growth has also been revised downwards and is now expected to be in the low to mid single-digit range (previously around 5 per cent). Free cash flow is expected to be -1.5 billion, whereas it was previously forecast to be positive.

com-Liv