French engineering services group Alten SA reported first-half 2026 revenue of €2.01 billion, beating analyst forecasts and sending its shares up 6.5% in after-hours trading.
Operating profit rose 26.9% to €187.3 million from €150 million a year earlier, while net income attributable to the group exceeded €100 million, up more than 38% from €82.6 million. Operating margin expanded 160 basis points to 8.9% from 7.3% in H1 2025, with management guiding for a full-year margin of around 9.2%.
Free cash flow came in at €105 million — equal to 5% of revenue — up 33% year-over-year. Total cash position stood at €313 million at the end of June. The company returned €65 million through share buybacks, repurchasing 1.8 million shares representing 2.4% of capital. Gearing remained at 14%.
Organic growth was 1.6% in absolute terms, or 1.2% after adjusting for M&A activity. CEO Simon Picquette cautioned that the figure was below historical norms, noting the company previously averaged 8% to 10% organic growth. Full-year 2026 organic growth guidance was raised to 1.7%–1.9% from prior expectations.
Revenue breakdown showed aeronautics, space and defense as the leading segment, accounting for roughly 40% of turnover when combined with energy and nuclear. Automotive contributed 13.7% (down from 20% in 2022), while energy and environment made up 11.9%. Industrial equipment represented 8.1%, life sciences 7.4%, and rail 3%.
Total engineering headcount rose to 52,200 in June from 51,000 in December, with a long-term target of 80,000 employees. Picquette indicated that acquisition announcements were expected "in the weeks and months to come," possibly before year-end or in Q1 2027. Alten reported flat to difficult results throughout 2024 and 2025.
On the technology front, CFO Cyril Malargé said AI would change engineering economics but noted the impact in Alten's business would be limited because client teams tend to be small and specialized.
Alten's shares traded at $75.08 after the report, up from a previous close of $70.50, on their way toward a 52-week high of $83.70. The stock has gained 36.77% over the past six months.
