Alstom Reports First Quarter 2025/26 Results
Alstom has published its financial performance for the first quarter of the 2025/26 fiscal year, covering the period from 1 April to 30 June 2025.

Alstom has published its financial performance for the first quarter of the 2025/26 fiscal year, covering the period from 1 April to 30 June 2025.
The company reported 4.1 billion EUR in new orders and 4.5 billion EUR in sales, reflecting a 2.8% increase on a reported basis compared to the same quarter last year. When adjusted for currency and scope effects, organic growth in sales stood at 7.2%.
The order intake represents an 11.8% increase compared to Q1 2024/25, with contributions from various segments and regions. Europe accounted for 85% of total new orders, driven by significant contracts in France and Bulgaria.
Alstom’s backlog stood at 92.3 billion EUR as of 30 June 2025, offering continued visibility for the company’s operations.
Henri Poupart-Lafarge, Chief Executive Officer of Alstom said:
Alstom’s commercial performance is off to a good start. First-quarter orders have surpassed the €4 billion mark, with a strong view on the pipeline for the second quarter, bolstered by momentum in North America. All product lines have contributed to organic sales growth, particularly with projects in Germany beginning to ramp up. We confirm guidance for this fiscal year and Alstom’s medium-term ambitions. Stability and visibility underscore the resilience of our business and our teams.
Among the notable contracts this quarter, Alstom received an order from SNCF Voyageurs for 96 additional RER New Generation (NG) trainsets for Paris’s RER D line. Funded by Île-de-France Mobilités, this order is valued at around 1.7 billion EUR and builds on a framework agreement signed in 2017.
In Bulgaria, Alstom leads a consortium awarded a contract by the Ministry of Transport and Communications for 35 Coradia Stream electric trains and associated maintenance services over 15 years. Alstom’s share of the 720 million EUR contract amounts to 600 million EUR.
From a sales perspective, Rolling Stock remained the largest contributor, generating 2.4 billion EUR in revenue – a 3% increase on a reported basis and 5% on an organic basis.
Services delivered 1.07 billion EUR in sales, remaining flat on a reported basis and showing 2% growth organically. Activity was supported by ongoing work in Germany, Italy, South Africa, and North America.
Signalling revenue reached 603 million EUR, representing a 5% decrease on a reported basis due to the divestment of the North American conventional signalling business last year. However, organic growth in this segment stood at 9%.
Systems posted sales of 425 million EUR, up 25% on a reported basis and 36% organically. Performance was supported by turnkey project activity in Brazil and the Philippines, along with steady delivery in Mexico and France.
Project Milestones
Alstom achieved several notable project milestones during the quarter. In France, the first train for the Grand Paris Express Line 18 was delivered, and Omneo trains began operating on the Marseille–Toulon–Nice route.
In the UK, a new Aventra fleet began service with London Northwestern Railway. In Sweden, Alstom completed its first commercial deployment of ERTMS. India saw the launch of metro services in Kanpur and Indore, while in the US, the first Innovia automated people mover was delivered to Atlanta’s Hartsfield-Jackson International Airport.