Alten Raises Organic Growth Forecast to 2% After Third-Quarter Acceleration
Key Facts
Alten Group raised its organic growth forecast for 2026 to around 2% after growth accelerated in the third quarter, the company said in its results announcement. The group reported revenue of 1,055.2 million euros for the quarter, up 6.4% from the same period in 2025. Organic growth was 3.6%, with an increase of 4.3% in France and 3.2% elsewhere. The company said activity continued to grow despite an "uncertain economic and geopolitical environment." The forecast revision reflects an improved pace of activity in the third quarter, but comes against an unfavorable comparison base in the fourth quarter of 2025, when activity recorded strong growth.
Alten said the acceleration in organic growth came mainly from North America and Asia, with the aerospace, defense and security, marine and rail sectors recording strong growth. The company said the energy and services sectors posted "satisfactory" growth. By contrast, contraction in the automotive, telecommunications and electronics sectors eased, although the company did not say they had returned to growth. The figures point to uneven performance across activities, with transport and defense sectors and markets outside France contributing to the acceleration in the quarter. The company did not disclose growth rates by sector or geographic region in its announcement.
In the nine months ended September, group revenue rose 2.9% from the same period a year earlier, while organic growth was 2.3%. The increase varied by geography, with revenue rising 6.0% in France, compared with 1.3% elsewhere. Organic growth in the third quarter, at 3.6%, was therefore higher than the rate recorded for the nine months as a whole. Growth outside France in the quarter was also stronger than in France, reversing the revenue performance over the nine-month period. The figures reported by the company highlight a shift in activity momentum toward overseas markets in the third quarter.
In results published in September, Alten had forecast organic growth of between 1.7% and 1.9% in 2026 and an operating margin on activity of around 9.2%. The new forecast raises expected organic growth to around 2%, above the previous range. The company said its operating margin on activity "continues to improve," reaching around 9.3% in 2026. The new margin estimate is therefore above the September forecast of around 9.2%. Alten linked its growth forecast revision to the acceleration in activity in the third quarter, while acknowledging continued economic and geopolitical uncertainty and the effect of a strong comparison base at the end of 2025.
In France, the business climate indicator for industry stood at 101 in September, one point above its long-term average of 100, according to the National Institute of Statistics and Economic Studies. The institute said the indicator was stable compared with the previous month. These indicators provide context for business activity in France, but do not change the figures Alten reported for its revenue and growth.
The National Institute of Statistics and Economic Studies is scheduled to publish its first estimate of French national accounts for the third quarter on October 30, 2026, at 7:30 a.m. The preliminary estimate of the consumer price index for October was also scheduled for release that day at 8:45 a.m. Alten's announcement did not include a forecast for either economic release. The company said it will publish its full-year 2026 results on February 23, 2027, at 5:40 p.m. Central European Time. The annual results will be the group's next opportunity to report its performance for the full year.