Alstom SA (ALSMY) Q3 2026 Sales/Trading Call January 20, 2026 12:30 PM EST

Company Participants

Bernard-Pierre Delpit - Executive VP & CFO

Conference Call Participants

Gael de-Bray - Deutsche Bank AG, Research Division Akash Gupta - JPMorgan Chase & Co, Research Division Vladimir Sergievskiy - Barclays Bank PLC, Research Division Delphine Brault - ODDO BHF Corporate & Markets, Research Division Daniela Costa - Goldman Sachs Group, Inc., Research Division Lucas Ferhani - Jefferies LLC, Research Division Martin Wilkie - Citigroup Inc., Research Division Louis Billon - AlphaValue SA Jonathan Mounsey - BNP Paribas, Research Division

Presentation

Operator

Hello, and welcome to the Alstom Third Quarter Orders and Sales for Fiscal Year 2025 and 2026. My name is George, and I will be your coordinator for today’s event. Please note that this conference is being recorded. [Operator Instructions]

I’d like to turn the call over to your host today, Mr. Bernard Delpit, Executive Vice President and CFO. Please go ahead, sir.

Bernard-Pierre Delpit Executive VP & CFO

Good evening, everyone. Thanks for joining the group’s orders and sales update for the third quarter of this fiscal year ’25, ’26.

Let’s start with orders on Slide 3. Alstom recorded EUR 20 billion of orders in the first 9 months. The book-to-bill ratio was 1.4, accelerating to 2 in the third quarter. As a result, the backlog reached EUR 100.3 billion, up from EUR 96 billion at the end of September.

Some color by region and product lines. The Americas are on track for the best year ever in terms of commercial momentum, with orders in Mexico and Canada this quarter adding to the large orders in New York and New Jersey booked in the first half.

Europe remains the largest contributor, supported by numerous rolling stock options being exercised in France as well as first-time orders in Central and