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Alten (ATE) investor relations material
Alten H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue declined 1.1% year-over-year to €4,099M, with France up 4.3% and international down 3.7%.
Organic revenue fell 4.5%, mainly due to a sharp drop in the Automotive sector (-16%) and declines in Telecoms, Electronics, and Public Sector.
Operating profit on activity was €346.5M (8.5% of revenue), above the anticipated 8.1%.
Net income dropped 42.6% to €106.9M, impacted by non-recurring items and goodwill impairment.
Free cash flow was €239.9M (5.9% of revenue), despite significant non-recurring items.
Financial highlights
Operating profit on activity margin decreased from 9.1% to 8.5% year-over-year.
Operating profit fell 28% to €199.6M (4.9% of revenue), impacted by non-recurring costs and goodwill impairment.
Net cash position at year-end was €390M, with gearing at -17.5%.
Working capital requirements improved by €33.5M, aided by better DSO and lower activity.
Significant goodwill impairment of €67.4M and non-recurring profit/loss of -€46.3M.
Outlook and guidance
Q4 2025 showed sequential stabilization, with Civil Aeronautics and Banking/Finance returning to growth.
Visibility remains limited for early 2026; Q1 is expected to confirm trend reversal and refine full-year outlook.
Civil Aeronautics, Banking, Energy, and Defense sectors expected to drive growth in 2026.
Targeting a rapid return to an operating profit on activity (OPA) margin of around 10%.
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