Slide 1: Results Presentation First Quarter 2024
Results Presentation First Quarter 2024 7 May 2024
Slide 2: Disclaimer
Disclaimer This presentation has been prepared and issued by Talgo, S.A. (the “Company”) for the sole purpose expressed herein. Therefore, neither this presentation nor any of the information contained herein constitutes an offer, sale or exchange of securities, invitation to purchase, sale or excha
Slide 3: Executive Summary – Key Highlights
Executive Summary – Key Highlights ▪ Magyar Vagon presented takeover bid for 100% Talgo shares at Q1-2024 5.0 €/share. CNMV admitted the offer on April 22nd, which remains subject to CNMV approval and receipt of the corresponding Accident freq.2 11.5 Business regulatory and antitrust authorizations1
Slide 4: Business performance
Business performance ▪ Recently awarded projects have driven Talgo’s backlog to historical highs of over €4.0 bn… o Most relevant new manufacturing orders are contract extensions (DB and DSB), which reduce execution risk and contribute to stable margin visibility. o Maintenance services business sup
Slide 5: Key financial figures
Key financial figures Revenues (€m) EBITDA (€m) and margin (%) 166.5 25 +31% 20.1 +34% 126.7 20 15.0 15 10 11.9% 12.0% 5 0 Q1-2023 Q1-2024 Q1-2023 Q1-2024 EBITDA EBITDA margin ▪ Revenues reached €166.5 m in Q1-2024 reflecting robust manufacturing activity, with DB (Germany), DSB (Denmark), and Renfe
Slide 6: Outlook FY-2024
Outlook FY-2024 Current Outlook Outlook update FY-2024 Profitability ✓ EBITDA: c. 11.5% ✓ Working Capital: Stable3 Capital structure ✓ Net Financial Debt: c. 3.0x aEBITDA Q1-2024 business performance ✓ Capex: c. €30 m1 and current expectations allows Talgo to confirm FY-2024 outlook Business ✓ 2023-
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