Alstom Secures Traxx Shunter Locomotive Order with Northrail
At the InnoTrans trade show in Berlin, Alstom announced the signing of a framework agreement with rolling stock leasing company Northrail. This agreement commercially launches a new generation of shunting locomotives initially intended for the German market.
Alstom and Northrail announced on 23 September 2026 the signing of a framework agreement at the InnoTrans trade show in Berlin. The agreement covers the delivery of Traxx Shunter shunting locomotives that could reach up to 100 units.
Northrail is one of the leading European rolling stock leasing companies. It is majority-owned by Rive Private Investment, through the Rive Transportation Assets Income Fund (RTAIF), dedicated to assets contributing to the decarbonization of transport.
Firm Order Worth Nearly 100 Million Euros, Locomotives Designed in Belfort
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The firm part of the order includes hybrid Traxx Shunter shunting locomotives (electric-diesel), accompanied by 10 years of maintenance, for an amount of just under 100 million euros. These locomotives are intended to be put into service in Germany.
They will be designed and assembled at Alstom's centre of excellence in Belfort, France. Deliveries are expected to begin from late 2029. According to the press release, this firm order will be recognized during the second quarter of Alstom's 2026/27 fiscal year.
Total Value Reaching up to 700 Million Euros with Options
The total value of the framework agreement can reach 700 million euros. It provides for the activation of options for additional locomotives, notably for commissioning in France, as well as maintenance for a period of up to 20 years.
This agreement is part of a series of recent orders for the group, following the €1.2 billion contract signed on 11 September 2026 with TransPennine Express in the United Kingdom and the 4.7 billion Canadian dollars agreement concluded on 4 September 2026 with Via Rail Canada.
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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.
