Talgo : Q1 2022 makes management cautious on full-year guidance
>Q1 2022 treads water business-wise - Talgo last Thursday reported (see last Friday’s first take) lower-than-expected earnings vs the consensus (on sales and adjusted EBITDA margins).The group posted sales of € 118m (css at € 128m), down 20% on Q1 2021 and an adjusted EBITDA margin of 10.7% (css at 11.4%), +160bp vs Q1 2021.Weak sales can be attributed to lower production in Q1 (changes in the project mix and slowdown stemming from the supply chain).Gro...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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