• Revenue reached €346 million up by 20% as compared to the first half of 2023, and EBITDA reached €40.9 million, a 22% increase.
• As of June 2024, book order exceeds €4,000 million

Talgo, a leading company in the design, manufacture and maintenance of high-speed, lightweight rail vehicles, recorded a €346 million revenue during the first half of 2024, a 20% increase compared to €288.6 million achieved in the same period of the previous year.

Revenue increase during the first six months of the year came as a result of the commercial success of the previous exercises and also as a consequence of the strong industrial manufacturing activity, with projects both in Spain and overseas: DB (Germany), DSB (Denmark) and Renfe (Spain). In addition, the maintenance activity kept its recurrent and stable profile, contributing approximately with 40% of total revenue.

EBITDA margins also increased during the first half of 2024 to reach €40.9 million (a 22% year-on-year increase from €33.6 million in H12023), reinforced by the increase of the activity and the efforts made to keep an efficient structure. Additionally, activity growth allowed to increase net profit to €14.6 in the same the reporting period.

Solid order book and commercial positioning

Talgo’s order book exceeds 4,000 million euros in the first half of 2024, with a 80% share of international projects outside Spain (such as DB -Germany or DBS -Denmark), reflecting the company’s internationalisation process. Furthermore, the recently awarded contracts consolidate Talgo’s positioning in the rail passenger market with its technology, certified and operating in the main European markets, and especially with a strong demand in countries where Talgo has successfully tested its technology, Europe and the Middle East and North Africa (MENA) areas.

It must be noted that most of the new orders came from both new customers and contract extensions from existing customers, as an example of their satisfaction with Talgo and which imply a significant commercial impact on Talgo’s positioning worldwide.

The key behind this commercial boost is a proven and exclusive Talgo technology that guarantees fully accessible and lightweight solutions, offering a very low consumption that allows a key positioning in rail transport in the current process of global decarbonisation.

Talgo has a solid financial profile, with around €300 million of accessible liquidity. The strong balance confers Talgo a high financial capacity to face current and future projects.

Outlook

Currently, and in addition to the current order book which is balanced between manufacturing, which guarantees strong revenue growth, and maintenance, which is a recurring cash and revenue generator, Talgo continues to analyse opportunities for the following 24 months for a total worth over €6,000 million and which would allow the Company to continue expanding its technology in new markets along existing ones. In that sense, 64% of all the potential projects are identified in the European market, with an additional 31% in the Middle East and Northern Africa.

In this context, and as Talgo announced at the General Shareholders’ Meeting held last June, the execution of manufacturing projects and the optimisation of industrial capacity are the main operational challenges. The company also plans to maximise the efficiency of financial resources at a unique moment of commercial positioning.

About Talgo

Talgo is a leader in the design, manufacture and maintenance of high-speed and intercity trains, with industrial presence in Spain, Germany, Denmark, Saudi Arabia, Egypt, Kazakhstan, Uzbekistan and the United States. Recognised worldwide for its capacity for innovation, unique and distinctive technology and reliability, the company has a team of more than 3,300 people of around 50 nationalities.

Talgo is the main supplier of high-speed and very high-speed trains to Renfe, and the supplier of trains for the “Haramain” project between Mecca and Medina in Saudi Arabia. Talgo is also the manufacturer chosen by Deutsche Bahn in Germany and the DSB in Denmark to decarbonise their mobility with Talgo 230 Intercity trains.

More info:

VK Comunicación
Virginia Knörr Barandiaran/Maite Gutierrez
Móvil: 629156031/ Móvil: 639197133
E-mail: maite@vkcomunicacion.com