Alten (ATE) Q1 2026 TU earnings summary

Executive summary

• Q1 2026 revenue was €1,053.7 million, down 0.8% year-over-year, with France up 1.3% and international down 1.9%.

• Organic growth was +0.1% year-over-year, with a minor positive scope effect of 1.1%.

• Activity is stabilizing, driven by growth in Aerospace and Defense & Security, while Automotive, Telecom, and Life Sciences continue to decline.

• Workforce stands at 154,000, including 51,851 engineers, boosted by acquisitions.

• One acquisition completed: an IT Services company with €68 million revenue and 470 consultants.

Financial highlights

• France revenue: €374.3 million (+1.34% YoY); International revenue: €679.4 million (-1.91% YoY).

• At constant scope and exchange rates, group revenue grew 0.1% year-over-year.

• Aerospace, Defense, Security & Naval accounted for 26.6% of revenue, with Aerospace at 17.1% and Defense, Security & Naval at 9.5%.

• Automotive & Rail contributed 16.8%, while Energy, Life Sciences, Telecoms & Industrial Equipment together made up 31.2%.

• Bank, Finance & Insurance represented 25.4% of revenue.

Outlook and guidance

• Organic growth for H1 and full year 2026 forecasted between 0% and -0.5%, with operating profitability expected to exceed 2025’s 8.6%.

• No precise guidance due to macroeconomic and geopolitical uncertainties, especially in the Middle East.

• Margin improvement expected to be gradual, with sector recovery anticipated.