Talgo general meeting

Talgo's annual General Shareholders Meeting, held at its Las Rozas headquarters in Madrid, highlighted a record-breaking fiscal year for the company in 2023. The company reported all-time high revenues of €652 million, a 39% increase from 2022, and a 55% rise in EBITDA to €76.5 million. The order book also reached a new peak of €4,223 million, driven by €2,100 million in new orders from markets such as Germany and Denmark. The meeting emphasized two key priorities: enhancing industrial capacity and optimizing financial resource efficiency.

The company continues to expand its international presence, with CEO Gonzalo Urquijo noting high activity in manufacturing projects, including the Avril platform for high-speed trains in Spain and intercity projects for Deutsche Bahn and DSB. Talgo's maintenance activities have also grown, particularly with new deployments in Egypt, now spanning eight countries. This expansion provides long-term revenue visibility and supports the company’s robust growth trajectory.

In 2023, Talgo completed a shareholder remuneration programme, distributing €12 million through a flexible dividend and a share buy-back initiative. President Carlos Palacio emphasized the company’s focus on international projects, particularly in Europe, the Middle East, and North Africa, targeting high-speed and long-distance segments. He also acknowledged the ongoing support from shareholders during a year marked by a takeover bid from Magyar Vagon, stressing commitments to preserving employment, industrial capacity, and patent ownership in Spain.

Talgo remains a global leader in the design, manufacture, and maintenance of high-speed and intercity trains, with a strong presence in various countries including Spain, Germany, Denmark, and Saudi Arabia. The company is renowned for its innovation, distinctive technology, and reliability, supported by a diverse team of over 3,300 employees from around 50 nationalities. Talgo continues to play a crucial role in decarbonizing mobility, notably through projects like the Haramain high-speed railway in Saudi Arabia and the Talgo 230 Intercity trains for Deutsche Bahn and DSB.