Talgo SA
LSE:0R99
Talgo SA
Talgo SA engages in the designing and manufacturing of rolling stock and provision of maintenance services to worldwide rail operators. The company is headquartered in Las Rozas De Madrid, Madrid and currently employs 2,670 full-time employees. The company went IPO on 2015-05-07. The firm's activities are divided into three business segments: Rolling stock, Auxiliary machines and Others, as well as General. The Rolling stock division is responsible for the train production, as well as for the maintenance of trains that use the Company's technology. The Auxiliary machines and Others segment provides manufacture and technical service of lathes, as well as sale of related spare parts. The General area includes corporate operations. The firm's product range comprises high speed rolling stock, intercity trains and locomotives, among others. The company offers products and services worldwide to a number of railway operators, such as Amtrak, Metrovias, Russian Railways, Metro Beijing, Fertagus, Chiltern Railways, Jernhusen AB and Bochum Trams. The firm operates manufacturing plants in Spain and Kazakhstan.
Talgo SA engages in the designing and manufacturing of rolling stock and provision of maintenance services to worldwide rail operators. The company is headquartered in Las Rozas De Madrid, Madrid and currently employs 2,670 full-time employees. The company went IPO on 2015-05-07. The firm's activities are divided into three business segments: Rolling stock, Auxiliary machines and Others, as well as General. The Rolling stock division is responsible for the train production, as well as for the maintenance of trains that use the Company's technology. The Auxiliary machines and Others segment provides manufacture and technical service of lathes, as well as sale of related spare parts. The General area includes corporate operations. The firm's product range comprises high speed rolling stock, intercity trains and locomotives, among others. The company offers products and services worldwide to a number of railway operators, such as Amtrak, Metrovias, Russian Railways, Metro Beijing, Fertagus, Chiltern Railways, Jernhusen AB and Bochum Trams. The firm operates manufacturing plants in Spain and Kazakhstan.
Revenue: Reported revenue was EUR 443.1 million for the quarter, with management noting that adjusting for the DB impact would put revenue around EUR 480 million.
EBITDA Improvement: EBITDA improved to minus EUR 3.3 million from minus EUR 16 million in the previous period, with management emphasizing further improvement if not for specific project impacts.
Equity Strengthening: A capital increase of EUR 45 million was announced, with additional convertible bonds totaling EUR 105 million, resulting in an equity reinforcement of EUR 150 million.
Financing & Liquidity: The company secured increased funding capacity, including a syndicated loan raised to EUR 650 million, a new EUR 120 million revolving credit line, and additional bonds of EUR 500 million.
Backlog & Outlook: Backlog stands at EUR 4.8 billion, with potential to rise closer to EUR 7 billion if pending deals close. Full-year revenue guidance remains at EUR 560–590 million, or EUR 600–630 million adjusted for DB.
Order Intake Guidance: Order intake outlook for the year is EUR 2.3 billion, unchanged from previous guidance.
Margins: Management expects margins to improve in future periods due to better contract terms and operational optimization, though specific long-term margin guidance was not provided.
