The facts

  1. Alstom’s board reviewed preliminary, unaudited results for the six months ended 30 September 2026. Adjusted EBIT margin was about −4%, compared with 6.4% in the same period a year earlier; sales rose 3% to €9.3 billion. [1]

  2. The company cut its 2026/27 adjusted EBIT margin forecast to about 1% from 6.5% and lowered expected car production to about 4,000 from 4,400–4,500. [1]

  3. Alstom changed its full-year free-cash-flow outlook from positive to an outflow of €1.5 billion, citing delays to milestone payments, extended homologation and later-than-expected entry into commercial service for major projects. [1]

  4. The company cited technical issues and additional testing requirements on the Coradia Max platform, as well as margin revisions on selected projects executed for and from Germany. [1]

  5. Reuters reported that Alstom shares fell 30% in early Paris trading after the outlook cut. Reuters said the warning came less than seven months after an earlier margin and cash-flow outlook reduction. [2]

  6. Alstom said it aims to reduce debt by about €2 billion by September 2027; its half-year results are scheduled for 17 November. [1]

Still unconfirmed

  • The figures are preliminary and unaudited; final half-year results are due 17 November.
  • The release does not quantify the separate contribution of each affected project to the outlook cuts.
  • The reported 30% share-price fall was in early Paris trading; it is not a closing-price return.

Sources

References support the numbered facts above. Source checks: 2 Nov 2026, 13:24 UTC.

The financial figures are Alstom’s preliminary, unaudited results. The 30% price move is attributed to Reuters and limited to early Paris trading; no close-to-close baseline is implied.

  1. Alstom’s preliminary first half 2026/27 results

    Alstom · Primary source · 2 Nov 2026

    Company release of preliminary, unaudited first-half results and revised full-year guidance.

  2. Alstom plunges as it slashes outlook second time in 2026

    Reuters via MarketScreener · Reporting · 2 Nov 2026

    Reuters report on the revised outlook, Germany and Coradia Max issues, and the early Paris trading share move.

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