Alten demonstrates solid growth in 2023 despite a slight decline in operating margin

In 2023, Alten experienced satisfactory organic growth of 9%, driven mainly by the civil aviation, automotive, and defense & security sectors. With an overall revenue increase of 7.6%, the company strengthens its position, particularly internationally where it made 5 acquisitions. However, the year saw its operating margin decrease to 9.4% from 11.1% in 2022, impacted by the consolidation of less profitable entities and unfavorable calendar effects.

Despite a decrease in operating margin and net income attributable to the group, which dropped from 12.1% to 5.7% of revenue, Alten maintains a positive net cash position of 297 million euros. The adjusted free cash flow generation shows a significant increase of 23.5%, confirming the financial strength of the company. Alten continues its targeted external growth strategy with the acquisition of 5 foreign companies in 2023.

The company anticipates a slowdown in organic growth in the first half of 2024, followed by a likely rebound in the second half of the year. Alten remains confident in its ability to generate satisfactory organic growth and to continue on the path of targeted external growth in 2024.