Alstom Surpasses 100 Billion Euros in Order Book
French railway group Alstom has announced an order book reaching 100.3 billion euros as of December 31, 2025, driven by new orders of 9.6 billion euros in the third quarter of its fiscal year 2025/26. Quarterly revenue amounted to 4.8 billion euros, up 2.6%, according to the statement released this Monday.
Significant Growth in Orders During Fiscal Q3 2025/26
In the third quarter of fiscal year 2025/26, ending December 31, 2025, Alstom recorded 9.6 billion euros in orders, compared to 4.3 billion euros in the same period of the previous year, the company reports. The Rolling Stock activity accounted for 63% of the quarterly orders. Over the first nine months of the fiscal year, the order volume reached 20.0 billion euros, representing an increase of 31.8% in reported figures and 34.2% in organic figures. The order-to-revenue ratio stands at 1.4 for the Group and 1.8 for the Rolling Stock activity over this nine-month period.
Key Contracts Secured in the Quarter
Among the major contracts signed during the quarter are two optional tranches for the Avelia Horizon high-speed solution in France, totaling approximately 2.0 billion euros, intended for Eurostar and SNCF Voyageurs. In Poland, operator PKP Intercity awarded Alstom a contract of around 1.6 billion euros for 42 Coradia Max trains with a 30-year maintenance agreement, according to the statement. In Canada, the Toronto Transit Commission signed a contract worth 1.4 billion euros for 70 subway trains. In Australia, the group was awarded a 1.0 billion euro portion of the contract for the Suburban Rail Loop East in Melbourne, including 13 automated metro trains and the signaling system. Additional contracts were secured in Mexico for 920 million euros, in Greece for 393 million euros, and in Germany for 500 million euros of options exercised by SFBW.
Revenue Growth in the Third Quarter
Third-quarter revenue amounted to 4.8 billion euros, an increase of 2.6% in reported figures and 5.9% in organic figures after adjusting for unfavorable exchange rate effects, the group indicates. Over the first nine months of fiscal year 2025/26, revenue reached 13.9 billion euros, marking an increase of 3.0% in reported figures and 7.2% in organic figures. The Rolling Stock activity generated a revenue of 7.2 billion euros over nine months, up 3% in reported figures, driven by operations in France, Germany, the USA, and Italy. The Services activity reported a 5% increase in reported figures to 3.4 billion euros, while Signaling advanced by 4% to 2.0 billion euros. The group confirms its outlook for fiscal year 2025/26, with organic revenue growth exceeding 5% and an adjusted operating margin of around 7%.
