The company recorded €10.1bn in orders during the first half, but remained in loss after the purchase of Bombardier last year.
Its net loss group share for the first half stood at €21m, versus a loss of €26m in the previous year.
Net loss from continuing operations narrowed to €5m from €15m.
However, the group posted adjusted net profit of €179m for the first half of fiscal year 2022/23, up from €172m in the prior year.
Adjusted EBIT increased to €397m corresponding to a margin of 4.9%, as against €335m corresponding to a 4.5% margin a year ago.
The company recorded free cash outflows of €45m in the first half, due to a €381m hit in operating working capital.
It has a net debt position of €2.3bn, as well as €833m of cash and cash equivalent as of September this year.
Alstom CEO and directors board chairman Henri Poupart-Lafarge said: “Market momentum remains very positive with customers confirming their investment plans in all regions.
“Our operational performance continues to improve as we progress with the integration of Bombardier Transportation according to plan.”
In its outlook for the year to the end of March 2023, the firm expects adjusted EBIT margin in the 5.1% to 5.3% range and a free cash inflow between €100m and €300m.