Annual Report 2024
Talgo is an industrial Group belonging to the railway sector and specialized in the manufacture and maintenance of, mainly, high-speed and very high-speed trains.
Our commercial activity has two main areas:
Thanks to its innovative character, the company has developed proprietary solutions that enable it to achieve the highest levels of quality, availability, reliability, safety and respect for the environment in all its products, always remaining at the forefront of railway technology.
Contribute to the increase of sustainable mobility through the development of railroad transportation and deliver a differential value to our customers and to all the people we connect.
Become a leader in the Spanish railway industry with presence in the international industrial markets, acknowledged worldwide for our innovation and technological capability, quality, reliability and the added value of our products and services.
Be a product and services supplier that can provide comprehensive and innovative solutions in new markets and market segments.
Talgo is a client-oriented company, and customers are our raison d'être. That is why our business leadership, mission, culture and organizational strategy are fully geared towards building long-term relationships and commitment with the clientèle.
Focusing on quality, implementation and execution of projects is beneficial to our clients as well as to us, since this approach contributes to sustainability and profitability in the future.
Our employees are an essential part of everything we do. That's why we are committed to investing in the development of their knowledge and skills, both present and future, by working to create inclusive work environments that enable us to attract, develop and retain the best talent.
From the very beginning, innovation has been one of the main pillars, which allowed Talgo to create its own differential technology with a clear added value featuring its products. Our industry is driven by the current trends such as the growth of cities or decarbonization, which create new demands for mobility, in particular, for public transportation. With innovation in its DNA, Talgo creates and implements new solutions that guarantee our customers and passengers intelligent, reliable, fully available, adapted, comfortable and sustainable means of transport.
The added value of our products and services has one of its main focuses on the passenger experience, safety and comfort, contributing at the same time with our clients to ensure sustainability through energy efficient, recyclable and durable products, which allow them to reduce the carbon footprint of their operations and gain in durability of their assets.
The head office is located in Las Matas, Madrid (Spain). However, customer-focused approach and pursuit of full customer satisfaction led Talgo to have a direct and permanent presence in many countries all over the world.
Business model
Strategic framework
The purpose of this model is to provide long-term value for the stakeholders. It is based on a solid financial model focused on stable business growth and maintaining attractive returns for shareholders; and on a sustainable model that maximizes efficiency and social commitment by reducing the environmental impact of its activities.
Talgo offers innovative and sustainable railway solutions, integrating design, manufacturing, and maintenance.
Portfolio of products and services
Talgo has a broad portfolio of products and services, offering solutions adaptable to the needs of each customer, with a focus on the key railway sectors and maintenance services.
Talgo Avril represents the company's most advanced train and an optimal solution for operators with high capacity demand.
Thanks to its extremely lightweight design and wider body width, it is positioned as the world's most efficient very high-speed train.
Talgo Intercity trains travel tens of millions of kilometers each year in Europe, Asia and America.
The new Talgo 230 development offers operators maximum versatility with a wide range of fully customizable options, including better traction and train performance throughout its life cycle, and excels in ensuring the best possible passenger experience.
Talgo offers low-consumption single-deck electric trains with the floor height same as that of the station platform, without steps or steep ramps, allowing easy movement between the coaches, also for people with reduced mobility.
Talgo has developed Br 105, a locomotive that can operate anywhere and is perfect for high-speed operations. With a modular design and easily adaptable to the rail operator's specifications, Br 105 is Talgo's most advanced traction vehicle.
Talgo, accredited as an Entity in Charge of Maintenance (ECM) according to the European Union legislation and in accordance with the EU Regulation 2019/779, has the necessary knowledge and experience to perform the four functions of maintenance, both for its own fleets and those of the third parties, offering a service tailored to the customer needs through the most modern techniques in the railway industry.
Talgo offers various rolling stock maintenance models that are tailored to the customer: from the Full Service Agreement (FSA) model, in which Talgo performs comprehensive maintenance, allowing the customer to focus solely on the operation, to customized models, which can include, among others, partial (light) maintenance, on-demand heavy maintenance or spare parts management, depending on the customer's needs.
Talgo offers a comprehensive rail maintenance service adapted to each customer, with advanced technology, specialised personnel and tailor-made solutions.
Talgo's history has been intrinsically linked to innovation since its foundation. Innovation is the backbone of the company, our very first development being the concept of an independently rotating wheel with a special guiding system.
Talgo's differential technology and continuous improvement in the design of products and services place the company in a leading position in terms of efficiency and respect for the environment.
Talgo's commitment to innovation translates into more accessible, efficient and sustainable trains.
Through ecodesign implemented comprehensively in the engineering process of its trains, Talgo aims to reduce the environmental impact from a product life cycle perspective.
The running gear system characteristic of Talgo trains, based on a single-axle articulated coupler between the cars and independent guided wheelsets, and the construction of lighter cars through the use of aluminum alloys and shorter cars, provide very important advantages in terms of system efficiency and environmental protection.
The configuration of cars allows for an optimized width while still adhering to the applicable gauge. Therefore, new high-speed trains have the capacity to carry nearly 600 passengers in a single-deck train, significantly enhancing their transport efficiency.
Talgo has worked on increasing the efficiency of traction systems, optimizing regenerative brakes, developing efficient automatic driving systems and managing consumption in different operating modes.
Talgo is working on the optimization of the aerodynamic properties of the train; to date we have designed the smallest cross-section on the market, which contributes to reducing train movement resistance and therefore requires less energy consumption.
Talgo also focuses on the design of trains powered by renewable fuels, in particular by renewable hydrogen. These projects represent a significant step forward in reducing carbon emissions from rail transport running on non-electrified tracks.
Talgo trains offer maximum accessibility for people with reduced mobility, the elderly, travelers with baby strollers or heavy luggage. The train floor is at the same level as the platform and has the same height along the entire train, with no steps or ramps inside the vehicles
Talgo has developed TSMART, an Intelligent Maintenance system, which features a number of technologies and functions like real-time monitoring of train systems with sensors; therefore, information about the trains running in any location is collected and analyzed for predictive maintenance purposes. This, increases the reliability and availability of the trains, reduces the life-cycle costs and improves operational efficiency and quality.
Innovation is part of Talgo's DNA. In line with the above, we continue working on new disruptive projects that keep driving us towards further improvement and growth.
The main innovation projects are focused on the following areas of activity:
Some of the innovation projects 2024
Talgo has implemented a prototype laboratory train for hydrogen technology validation, transforming Talgo’s Series 4 diesel regional train into a new hydrogen and lithium-battery traction prototype with fuel cells and hydrogen storage tanks.
Talgo leads the Hympulso project, in consortium with six other companies, which seeks to develop hydrogen technology applied to rail mobility by integrating the entire value chain, from the generation of renewable hydrogen, through the supply infrastructure, its use in trains and its impact on railway infrastructure.
Talgo is working on the use of new materials that shall remain sustainable throughout the entire service life cycle in order to increase the capacity of the trains by reducing the weight of components and the recyclability rate. Some of the ongoing projects are:
A new modular toilet cabin has been developed for night and day trains that is more accessible to all passengers, including persons with functional diversities and/or dependents. These WCs use intelligent assistants (natural language processing), allowing to use different toilet and train functions by means of voice interaction.
In 2023 Talgo INSPIRE was founded to focus company's efforts on the development of collaborative projects with startups. Under the model known as Venture Client, Talgo seeks for solutions that would improve our processes, products and services, opening doors to the rail sector for the startups and providing them with opportunities for growth and global expansion. Some of the projects carried out are:
Quality is one of the key strategic levers of Talgo performance and reputation and also acts as a fundamental ally in sustainability.
The quality organizational model rests on three pillars:
Quality is Efficiency and Efficiency is Sustainability
From this perspective, three closely related lines were detected, essential for obtaining a sustainable development model:
For yet another year, Talgo has been awarded "Silver Performance Level" for its manufacturing and maintenance centers in Spain under IRIS (International Railway Industry Standard), ISO 22163. Talgo remains in the top 10% of companies worldwide with this certificate. The extension of IRIS certification strengthens Talgo's position in the railway industry and provides new opportunities to continue to focus on continuous improvement.
In addition, Talgo also has many certifications that support its commitment to Quality in different corporate areas, for example: ISO 9001:2015, ISO 14001:2015, ISO 27001 and ISO 45001.