Spanish train manufacturer Talgo has reported strong financial performance for fiscal year 2023, showcasing significant growth and a robust outlook for the future. During its Annual General Meeting held at its headquarters in Las Rozas, Madrid, Talgo outlined its key priorities going forward, namely enhancing its industrial capacity and optimizing financial efficiency.
The company celebrated a record revenue of €652 million, marking a substantial 39% increase from 2022. This positive trend is further emphasized by the company’s EBITDA, which rose significantly by 55% to €76.5 million. Talgo’s commitment to sustainable growth is evident in its robust order book, which closed the year at a historical high of €4,223 million, a 54% increase from the previous year.
This strong performance was driven by securing €2,100 million in new orders, including contracts with prominent clients like Deutsche Bahn in Germany and DSB in Denmark. The company’s CEO, Gonzalo Urquijo, highlighted the continued execution of manufacturing projects with high activity, including high-speed projects for Renfe and Adif in Spain and intercity projects for the European market. Talgo’s dedication to customer satisfaction is demonstrated by its maintenance activities, which continue to provide customers with the best reliability and availability ratios.
Talgo’s president, Carlos Palacio, expressed confidence in the company’s future growth, stating that the majority of its revenue will come from international projects, particularly in the European Union, the Middle East, and North Africa. He also expressed gratitude to shareholders for their continued support during a year marked by the takeover bid by Magyar Vagon. Palacio reaffirmed the company’s commitment to preserving employment and industrial capacity in Spain, maintaining its headquarters and management in Spain, and protecting its patent ownership while ensuring the best outcome for all shareholders and employees.
