Spain's Talgo posts $8 million loss in Q1 amid weaker revenues, production drop
26/05/2025 17:46
May 26 (Reuters) - Spanish train maker Talgo TLGO.MC reported on Monday a net loss of 7.1 million euros ($8.08 million) for the first quarter, in which it saw slightly lower revenues and a decline in manufacturing activity. The results come amid ongoing talks to formalise the sale of a 29.7% stake in the company to a consortium led by Basque steel maker Sidenor. Talgo put its 2025 guidance on hold due "the difficulty of estimating the main business metrics" given its ongoing acquisition process and other negotiations. In the same period last year, the company had more than quadrupled its net profit to 10.4 million euros, boosted by strong revenues and a record order backlog. However, it posted a loss of 107.9 million euros in the full year due to a 116 million euro penalty imposed by state-owned railway company Renfe following delivery delays. ($1 = 0.8789 euros) (Reporting by Mireia Merino; Editing by David Latona) ((Mireia.Merino@thomsonreuters.com; Reuters Messaging: mireia.merino.thomsonreuters.com@reuters.net))