talgo

Spanish economy 24th January 2024

Talgo concludes buyback programme with acquisition of 2.5 million shares representing 1.99% of share capital

Link Securities | The railway manufacturer informed the National Securities Market Commission (CNMV) yesterday that, following the latest acquisitions reported yesterday, it has reached the maximum monetary amount established in the Buyback Programme, having invested €9,999,521.35 and acquired a total of 2,517,562 shares representing 1.99% of Talgo’s share capital. Thus, the company announces the completion of the Buyback Programme. Talgo is currently bidding for a contract from state-owned operator Deutsche…

In Europe 21st December 2023

Talgo among candidates to participate in Germany’s largest-ever train order

Link Securities | The German government, through Deutsche Bahn (DB), has launched the largest train order in its history, with the aim of improving service quality, according to Expansión newspaper. Thus, it wants to sign a contract programme for up to 95 units of ICE high-speed trains, with a first order of 33 trains to be put into operation in 2030. In terms of volume, it is an investment budget…

European economy 13th December 2023

Talgo competes with CRRC for Bulgaria’s largest ever train order

Link Securities| Talgo (TLGO) and the Chinese giant CRRC, the world’s largest train manufacturer, are vying for a €613-million order to build 20 medium-distance electric units for Bulgaria’s railways, the business and finance daily Expansión reports on Tuesday. It is the largest train order ever placed by the country and is financed by the European Union’s NextGen funds. According to the information provided to the Bulgarian Ministry of Transport, CRRC…

In Europe 21st November 2023

Takeover bid again highlights possibility of corporate operation in Talgo, subject to Trilantic’s approval

Banc Sabadell announced last week, reacting to a publication in the press, that it had received a preliminary expression of potential interest in launching a takeover bid for 100% of the company’s shares by a Hungarian business group (a family holding company according to the press) at a price of €5/share, which would represent a premium of +28% over the previous day’s closing price (+43% over the average of the…

In Europe 16th November 2023

Germany, Denmark and Spain projects put Talgo’s 3Q23 revenues higher than 3Q22’s

Norbolsa| The company yesterday presented its 3Q23 results, with revenues of €470.3m, which were +34% higher than in 3Q22, thanks to projects in Germany, Denmark and Spain. EBITDA margin grew by +68% to EUR 64.5m versus 3Q22 to reach 13.7% (10.9% previous), thanks to the implementation of the risk mitigation measures being carried out. Finally, the company improved margin guidance to 13% (12% previous), slightly increased DFN/EBITDA ratio to 2.5x…

In the World 25th September 2023

Saudi railway operator could execute extension of contract for AVE to Mecca, potential benefit for Talgo

Banc Sabadell | The Saudi Arabian rail operator (SAR) has reportedly sent a letter to the AVE to Mecca consortium, of which Talgo (TLGO) is the member in charge of the manufacture and maintenance of the trains, indicating that it could soon execute the option to purchase an additional 20 Talgo trains (part of the original 36-unit contract), a contract that could amount to ~€700 million (~16% of Talgo’s portfolio)….

European economy 27th June 2023

Danish Parliament approves contract extension for Talgo to supply eight additional intercity trains for €184m

Banc Sabadell| Talgo (TLGO) announced on Friday at the opening that the Danish parliament has approved the extension of the contract with DSB for the supply of eight additional intercity Talgo 230 trainsets (and fleet parts for their maintenance) for a sum of €184 million (~4% of the portfolio including the DB contract and Egypt). Assessment: Positive news although of little impact given that the contract was already announced and…

Companies, Relevant News Item, Spanish economy 31st May 2023

Good news for Talgo and CAF: Adif to start second phase of long-distance rail liberalisation

Renta 4 | Adif has announced that it will start the second phase of the liberalisation of long-distance rail transport. The lines to be put out to tender are those to Murcia, Galicia, Extremadura, the Basque Country and Asturias. Renfe, Iryo, Ouigo, Eco Rail, Euskotren and FGC have already expressed interest in participating in this contract. One of the key points is that Adif will include in the tender the…

Companies, Relevant News Item 26th May 2023

Talgo to make the first Talgo Avril units available to Renfe in November

Link Securities| Talgo (TLGO) will make the first units of the Talgo Avril very high-speed train available to Renfe in November. According to a statement by the company on Tuesday, they will be ready to go into commercial operation. In this sense, Talgo has indicated that the November date will be reached “provided that the other actors involved in this process comply with the deadlines they have provided Talgo with…

Companies, In Europe, Relevant News Item, Spanish economy 18th May 2023

Talgo signs new €1.3bn contract to supply 56 trains to Deutsche Bahn

BSabadell : According to press reports, Deutsche Bahn has awarded Talgo (TLGO) a contract for the supply of 56 additional trains, which it is understood are of the Talgo 230 model and which would form part of the contract it is currently executing (23 trains worth €550 million). At the prices of the first order the contract could exceed €1.3 billion (~40% of Talgo’s current portfolio). Assessment: If the news…

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