Source: Sharecast
For the half year to September end, Alstom said orders received had risen to €11bn from €10.5bn in the same period a year earlier, while sales increased 3% to €9.3bn and the adjusted EBIT margin was around -4%, from 6.4% a year earlier.
Alstom manufactured 1,860 cars in the first half, down 8% from the prior year. Production was affected by execution issues on the Coradia Max platform, with manufacturing paused during the first quarter to resolve identified issues and minimise subsequent retrofit work, it said.
For the full year, the company now expects organic sales growth of low to mid-single digit, versus guidance of 5% previously, partly impacted by lower car production than initially expected.
It expects to report an adjusted EBIT margin of around 1%, down from previous guidance for 6.5%, while the forecast for car production was cut to around 4,000 from between 4,400 and 4,500, partly reflecting the production shortfall recorded in the first half versus planned trajectory.
Chief executive Martin Sion said: "Since my appointment as CEO in April 2026, I have requested rigorous identification and escalation of project-level risks and opportunities, mobilising dedicated teams of Alstom experts on most critical projects, including Coradia Max.
"Today’s announcement reflects the consequences of this exercise with the objective to normalise the group’s performance from next fiscal year. It also reinforces my determination to accelerate operational improvements and calls for a deleveraging plan, with the support of our board, to ensure Alstom realises the full potential of its competitive positioning on the growing rail market."
At 0955 GMT, the shares were down 27% at €11.46.