The Diplomat
Talgo has been awarded a contract by the Egyptian State Railways (ENR) to manufacture and maintain for 15 years seven Talgo night trains for a combined value of 280 million euros.
The company informed the Spanish Securities and Exchange Commission yesterday that the vehicles are expected to be delivered from 2024.
The entry into force of the contract is subject to a condition related to its financing, which Talgo expects to be resolved in the coming months.
The firm recorded an attributable net profit of 5.5 million euros during the first half of the year, 46% less than in the same period of 2020.
The company had a turnover of €217.7m, down 25.7% from the same period last year, due to an economic downturn in manufacturing due to supply chain disruptions. The company’s order backlog exceeded 2.9 billion euros at the end of June.
