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Last updated : 13/11/2026 - 11h48
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Alstom Secures Order for 30 Avelia Horizon Trains for Eurostar

The Board of Directors of SNCF Voyageurs has approved an additional order of 30 high-speed trains from Alstom, intended for Eurostar's international operations.


Alstom Secures Order for 30 Avelia Horizon Trains for Eurostar

Details of the Order

According to the press release, the optional tranche of the framework contract between SNCF Voyageurs and Alstom is valued at nearly 1.4 billion euros. This order includes 30 next-generation Avelia Horizon trainsets, with options for up to 20 additional units. The first deliveries are scheduled to begin in 2031. This program follows two previous orders: SNCF Voyageurs had already ordered 115 trains, including 100 for France and 15 for Europe. This new tranche aims to meet the growing demand for high-speed rail equipment in the European market.

Features of the Avelia Horizon Trains

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The new Avelia Horizon trains, in their quadri-voltage version, are designed to operate across the rail networks of five countries: Germany, Belgium, France, the Netherlands, and the United Kingdom. They will notably travel through the Channel Tunnel, connecting London (St Pancras International) to the continent. This marks the first operation of a high-speed double-decker train on this route. Each train will consist of two compact power cars and nine articulated double-decker coaches. The announced capacity exceeds 1,000 passengers in multiple unit operation, with a top speed of 320 km/h. The manufacturer highlights a 20% reduction in energy consumption and a 30% reduction in maintenance costs compared to the previous generation.

Production and Investment

Alstom indicates that the production of these trains will involve 10 of its 14 French sites. The power cars will be manufactured in Belfort, passenger cars in La Rochelle, while control electronics, motors, bogies, traction, and onboard equipment will be distributed among several national sites. The enhancement of industrial capacities is accompanied by an investment of 150 million euros in the concerned sites. Alstom's Avelia range covers speeds between 200 and 350 km/h, with more than 1,000 trains in service across 25 countries.



Sector Machines et équipements industriels › Machines / équipements industriels


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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.

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