Alstom SA

ALO: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Alstom Earnings: Outlook Strengthens Despite Cash Drag From Ramp-Up

Loredana Muharremi

Jul 25, 2025

Alstom reported EUR 4.5 billion in first-quarter sales, up 7.2% organically, with solid momentum in France and Germany. Orders rose 12% to EUR 4.1 billion, though the book/bill ratio was 0.9 times. FCF burn is expected to remain steep in the first half due to ramp-up mix and light down payments.

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Alstom SA

Alstom Earnings: Outlook Strengthens Despite Cash Drag From Ramp-Up

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