Alstom secures €460 million contract for driverless metro in Riyadh
The railway manufacturer based in Saint-Ouen-sur-Seine has signed a new contract with the Royal Commission for Riyadh City for the supply of driverless metro trains. The agreement concerns the expansion of a fleet already in service in the Saudi capital.
Fleet expansion for three lines of the Riyadh metro
Alstom announced on September 28, 2026 the signing of a contract with the Royal Commission for Riyadh City (RCRC) for the supply of additional driverless metro trains for lines 3, 4 and 6 of the Riyadh network, as well as their integration into the existing infrastructure.
These new trains will expand the fleet already deployed and will be maintained by Alstom under the existing operations and maintenance contract for these three lines. The order adds to the 116 driverless trains already delivered for the Riyadh metro network.
A value of approximately 460 million euros
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The contract is valued at approximately 460 million euros, or approximately 585.5 million dollars according to the statement. The order will be recognized in the second quarter of Alstom's 2026/27 financial year.
The new trains will be based on Alstom's Metropolis trains and Urbalis CBTC signaling technology, and will be integrated into the fully automated Riyadh metro network, notably on the yellow line which will serve the 2030 World Expo.
Network in service since late 2024
The Riyadh metro network entered commercial service in late 2024 and has carried more than 100 million passengers since. Alstom has been present in Saudi Arabia since 1951 and has established the regional headquarters for its Middle East zone in Riyadh.
This announcement comes a few days after the signing, at the InnoTrans trade show in Berlin, of a framework agreement with German lessor Northrail covering Traxx Shunter shunting locomotives.
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Context
Period
Period: S1 2027
Key reported figures
Revenue: 9 300 millions d'euros
Quarterly revenue: 9 300 millions d'euros
Revenue growth: 3 %
Free cash flow: -1 248 millions d'euros
1 100 millions d'euros
Guidance from the release
« Marge d'exploitation ajustée d'environ 1 % pour l'exercice fiscal 2026/27, contre 6,5 % annoncé précédemment » ; « Cash-flow libre de (1,5) milliard d'euros pour l'exercice fiscal 2026/27, contre une génération de cash-flow libre positive précédemment »
Risks mentioned
Difficultés persistantes d'exécution de Coradia Max et allongement du calendrier d'homologation
Décalage de paiements de jalons sur exercices futurs et impact sur cash-flow 2026/27
Risques opérationnels identifiés sur autres projets allemands nécessitant rationalisation
Opportunities identified
Demande solide pour les solutions ferroviaires et portefeuille d'opportunités robuste
Initiatives opérationnelles et plan de désendettement en cours pour renforcer le bilan
Capital Markets Day T2 2027 présentant la trajectoire financière à moyen terme et marges vers 8-10%
Outlook / guidance
Expected revenue: 19 746 millions d'euros
Management commentary: « Croissance organique du chiffre d'affaires comprise entre 2 % et 4 % au cours de l'exercice fiscal 2026/27, contre environ 5 % précédemment »
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
