TALGO: FY2024 RESULTS (ANÁLISIS BANCO SABADELL)
4Q'24 vs. 4Q'23 Results
Sales: € 171.4 M (-5.7% vs. -5.8% consensus);
EBITDA: € -104.4 M (€ 18.2 M in FY2023 vs. € 19.3 M consensus);
FY2024 vs. FY2023 Results
Sales: € 669.2 M (+2.6% vs. n/a BS(e) and +2.6% consensus);
EBITDA: € -46.7 M (€ 82.7 M in FY2023 vs. € 77.0 M consensus);
Net Profit: € -107.9 M (€ 12.2 M in FY2023 vs. € 16.0 M consensus);
The results were poor, hit by the provision from the Renfe fine (€ 116 M, no impact on cash, resulting from the delayed delivery of 30 VHS trains, of which 27 have already been delivered). Sales’24 grew +2.6% (in line), hitting a record high for the...