France · Delayed Price · Currency is EUR Alten Earnings Call Transcripts
Fiscal Year 2026
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H1 revenue was €2.01bn, with organic growth returning and operating margin rising to 8.9%. FY 2026 guidance was raised to 1.7%-1.9% organic growth and a 9.2% operating margin, while automotive weakness and AI-related pricing remain key considerations.
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Q1 2026 saw a slight revenue decline but organic growth and margin improvement are expected for the year. Most sectors and geographies are stabilizing, with strong performance in defense and energy, but telecoms and semiconductors remain weak.
Fiscal Year 2025
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Revenue declined 1.1% year-over-year, with a 4.5% drop at constant scope, but operating margin exceeded expectations at 8.5%. AI integration and offshore expansion are driving efficiency, while M&A and share buyback decisions hinge on 2026 opportunities.
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Revenue declined 4.5% in 2025 to €4.143 billion, but Q4 showed signs of stabilization, especially in aerospace, defense, and energy. Automotive and telecom sectors remained weak, while margin for 2025 is expected to slightly exceed prior guidance.
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Turnover rose to €2.84B in H1 2025, but organic growth declined amid sector headwinds and fewer business days. Outlook for 2025 remains gloomy with a projected -5.2% to -5.5% organic decline and operational margin at 8–8.1%.
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Turnover rose to €2.84 billion in H1 2025, but organic business declined 3.6% amid sector headwinds and fewer business days. Outlook for 2025 remains cautious, with an expected organic decline of -5.2% to -5.5% and operational margin around 8%.
Fiscal Year 2024
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2024 saw stagnation with -0.2% organic growth and 9.1% operating margin, as France outperformed but Germany and other regions struggled. Management expects a tough H1 2025 but is cautiously optimistic for H2 if macro conditions improve.
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2024 saw a broad-based slowdown, with revenue down slightly and significant declines in automotive and aerospace, though France and select regions showed resilience. 2025 is expected to start with a 3% organic degrowth and continued cost optimization, with sector and regional performance remaining mixed.
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Q3 2024 saw worsening growth erosion due to last-minute project cancellations, especially in automotive and aerospace, with turnover reaching €3.117 billion and organic growth nearly flat. Outlook for Q4 and 2025 remains negative, with no signs of recovery and continued client uncertainty.
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EBIT margin dropped to 8.4% in H1 2024 due to project delays and weak IT services demand, with organic growth nearly flat. M&A drove headcount growth, especially in India, but high acquisition prices limit further deals. Outlook remains cautious, with no rebound expected before 2025.
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Turnover for H1 2024 rose 2.8% to €2.8 billion, with France outperforming international markets. Revised 2024 guidance anticipates 1.1%-1.4% organic growth and 8.7%-8.9% operational margin, as project delays, sectoral slowdowns, and cost controls shape the outlook.