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 (2x) and lowered capex outlook by €10m; as for backlog execution, they expect to end the year at 45% (40% previous) and an improvement in the BtB ratio to 3.5x (3x previous).

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