Talgo : Improvement in the performance is under way: we remain positive
>Progress in maintenance, efficient cash management - In Q2, Talgo benefited from increased train production, tight cost management and improved service activity to sequentially boost margins (11.7% margin in Q2 vs 9.1% in Q1, 7.8% in Q4 and 6.5% in Q3). Maintenance is now benefiting from Talgo trains running at more than 75% of their capacity compared with 50-60% at the beginning of the year; this improvement is, in our view, key for margin recovery. Note that at t...Talgo is engaged in designing, manufacturing, repairing and maintaining the railway rolling stock, as well as the manufacturing, assembling, repairing and maintaining the engines, machinery and parts of the railway systems. Co. has an industrial presence in seven countries: Spain, Germany, Kazakhstan, Uzbekistan, Russia, Saudi Arabia and U.S.A. Co. has an active fleet in Europe, Asia and North America that comprises of 94 high-speed trains and more than 1,400 Talgo tilting passenger cars. Also, Co. purchases, redesigns, constructs, leases and sells all types of real estate.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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