# Alstom Shares Fall 25% as German Train Delays Deepen Pressure

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/46591
Published: 2026-11-02T15:55:06.000Z
Updated: 2026-11-02T15:55:06.000Z
Section: Business

> Technical issues with Coradia Max regional trains have spread to other German projects. Alstom’s board is reviewing options to reduce debt by about €2 billion by September 2027.

Alstom shares fell 25% in Paris on Monday, marking their steepest intraday decline since mid-April as delays on German train projects accompanied a fresh cut to the French railmaker’s fiscal forecast. The company withdrew its cash flow guidance in mid-April.

Alstom now expects an adjusted operating margin of about 1%, down from 6.5%, and a free cash flow outflow of €1.5 billion. It also lowered its production target to about 4,000 rail cars from a range of 4,400 to 4,500.

Technical issues with Coradia Max regional trains required retrofits during production. Delays have spread to other German projects, pushing the Coradia program’s gross margin into negative territory.

JPMorgan analyst Akash Gupta called the reset a “painful but necessary clearing event.” Goldman Sachs analyst Daniela Costa said earnings estimates would likely be cut “very meaningfully.”

Alstom’s board is reviewing options to reduce debt by about €2 billion by September 2027.