ALTEN H1 2026 slides: margins expand as growth returns

French engineering and technology consulting firm ALTEN (EPA:ATE) released its half-year 2026 results on September 25th in Paris, marking a return to organic growth and significant margin expansion. The company's shares jumped 6.5% in after-hours trading, reaching $75.08, as investors welcomed the improved operational performance and higher guidance for the full year.

Revenue for the first half of 2026 amounted to €2,109.2 million, marking 1.2% growth reported and 1.6% on like-for-like basis. Operating margin on activity rose to 8.9% from 7.3% in the previous year, while free cash flow surged 33% year-over-year to €104.3 million.

The results represented a significant turning point for the company, which had struggled with weak automotive markets and macroeconomic challenges throughout 2024 and 2025. In response, ALTEN has strategically realigned its focus towards high-growth sectors such as aerospace, defense, and energy, while reducing its automotive exposure from 20% of revenue in 2022 to 13.7% currently.

Chairman Simon Azoulay, CEO Cyril Malargé, and Deputy CEO Bruno Benoliel delivered the presentation, highlighting the company's repositioning and robust financial performance.

ALTEN's first-half results showcased clear improvements across multiple financial metrics, with revenue growing 1.6% on a like-for-like basis, a sign of returning expansion. The company's international operations, which make up 64.5% of total revenue, remained stable with a slight 0.8% like-for-like growth. France alone contributed to the growth with 3.3% organic growth, while Germany and the UK returned to organic growth after difficult periods. Eastern Europe contracted by 4.7% due to automotive weakness.