Alstom (ALO) AGM 2026 summary

Opening remarks and agenda

• The meeting was opened with thanks to shareholders, introduction of the new CEO, and confirmation of legal formalities and quorum for voting.

• The agenda, resolutions, and required documents were made available to shareholders, with statutory auditors present.

• Presentations included financial review, CSR achievements, governance, and remuneration, followed by Q&A and voting.

• Chairman and General Counsel opened the meeting, outlining the agenda and introducing key speakers for the session.

Financial performance review

• FY 2025/26 saw a record commercial year with €27.6bn in order intake and 7.2% organic sales growth.

• Adjusted EBIT margin was 6.1%, with margin headwinds from FX, volumes, and certain contracts.

• Adjusted net profit rose to €559 million, and net profit attributable to the group improved to €324 million.

• Free cash flow reached €336 million, supporting a reduction in net financial debt, which increased to €404 million.

• Q4 car production was lower than expected due to industrialisation challenges, impacting financials.

Board and executive committee updates

• Board composition changed with the departure of the former CEO and the appointment of new directors, maintaining high independence and diversity.

• Three director mandates expired; two new directors and the CEO were proposed and introduced for four-year terms.

• Committee leadership updated, with new chairs for Audit, Ethics, and Nominations committees.