Talgo : Ramp-up of new projects driving results
>9M 2023: sales up 34% and adjusted EBITDA margin of 13.7% - Talgo’s 9M 2023 results, reported Tuesday evening, largely beat consensus expectations (see our first take), with the group holding a conference call in the day yesterday.Sales came in 34% higher vs 9M 2022 at € 470.3m (css at € 437m) and the adjusted EBITDA margin came to 13.7% (css at 12.1%), +280bp vs 9M 2022. Adjusted EBITDA includes one-off items relating to contract extensions. We estimate the mar...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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