At the annual general meeting of shareholders held at Talgo’s headquarters in Las Rozas, the company presented its financial results for 2023, this is reported by the railway transport news portal Railway Supply.

Talgo

Talgo’s main priorities for the future include strengthening industrial potential and maximizing the efficient use of financial resources.

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2023 was a record year for Talgo in many respects.

The company’s revenue reached 652 million euros, which is 39% more compared to 2022.

EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 55%, amounting to 76.5 million euros.

The order backlog at the end of the year also reached a record level of 4.223 million euros, which is 54% more than the previous year.

Talgo was able to attract new orders totaling 2.100 million euros from major clients such as Deutsche Bahn (Germany) and DSB (Denmark).

The main task for the coming years for the company remains further growth to ensure the long-term sustainability of the business.

As part of the shareholder reward program completed in 2023, Talgo paid out 12 million euros in flexible dividends and a new share buyback program.

The company’s CEO, Carlos Palacio, noted that in the coming years, the main part of the income will come from international projects, especially from Europe, the Middle East, and North Africa.

Gonzalo Urquijo, CEO of Talgo, emphasized that in 2023, the company continued to actively implement production projects, including high-speed rail lines for Renfe and Adif in Spain, as well as interregional projects for Deutsche Bahn and DSB.

Palacio expressed gratitude to shareholders for their trust and support in 2023 and the first half of 2024, highlighting that protecting employment and industrial potential in Spain remains a priority.

Talgo, a leader in the design, manufacture, and maintenance of high-speed and interregional trains, continues to successfully operate in the international market.

Talgo is the main supplier of trains for Renfe and the Haramain project in Saudi Arabia, as well as the chosen manufacturer for Deutsche Bahn and DSB within the framework of mobility decarbonization programs.

These achievements highlight Talgo’s ability to adapt to the challenges of the times and remain at the forefront of its industry, offering high-quality solutions for railway transportation and confirming its significance in the global market.

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