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Talgo earns seven million euros until June, 31.7% more, with record orders

Date: September 22, 2023 Time: 20:01:08

Talgo obtained a net profit of 7 million euros in the first six months of the year, which is 31.7% more than in the same period of 2022, as shown by the results of the railway manufacturer published this Thursday.

Net turnover amounted to 288.6 million euros, with a year-on-year increase of 32.5%, while the gross operating result (Ebitda) reached 33.6 million, increasing by 72.1% and with a margin of 11.6%.

Four quarters in recovery

Adjusted EBITDA grew by 49.7% to 35 million euros, and its margin stabilised during the first half after recording four consecutive quarters of progressive recovery to reach 12.1%, compared to 10.7% recorded in June 2022.

The company’s operating funding needs grew to €304.4 million during the first half of the year, reflecting the increase in activity and the current phase of ongoing projects.

Regarding its net financial debt, Talgo has assured that it has “a solid financial profile”, with diversified sources of financing, an average maturity profile of long-term debt of 2.75 years and an average cost of 2.35%, with only 66 million euros in maturities for 2023 and 2024.

Record order book

Following the presentation of its results, the company has reported that its order book is at “historical highs” with a value of 2,700 million euros, of which 26% correspond to manufacturing and remodeling projects.

As for maintenance services, these represent up to 1,900 million euros of the portfolio, which generates “high visibility of income and cash in the long term”. Looking ahead to the remainder of the year, Talgo expects its order book to exceed 4,000 million euros, which would be a record figure.

In turn, the company has stated that industrial visibility and commercial forecasts lead it to confirm its forecasts for the year 2023. In addition, the company recalled that during this first semester it launched a remuneration program of 12 million euros, 20% higher than the previous year.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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