Published by Global Banking & Finance Review®
Posted on February 28, 2025
1 min readLast updated: January 25, 2026
Add as preferred source on GoogleTalgo reports a €107.9M loss due to a €116M penalty from Renfe over delivery delays. Sidenor acquires a 29.7% stake, ending rival bids.
(Reuters) - Spanish train maker Talgo posted a full-year net loss of 107.9 million euros on Friday, dampened by a 116 million euro penalty imposed by state-owned railway company Renfe following delivery delays.
The firm had reported a net profit of 12.2 million euros a year earlier
Basque steel maker Sidenor earlier this month agreed to buy 29.7% of Talgo, bringing an end to months of rival bids for a stake in the company.
(Reporting by Ana Cantero in Madrid and Mireia Merino and Marta Serafinko in Gdansk; Editing by Kirsten Donovan)
Talgo posted a full-year net loss of 107.9 million euros.
The loss was primarily due to a 116 million euro penalty imposed by Renfe.
The firm had reported a net profit of 12.2 million euros a year earlier.
Basque steel maker Sidenor agreed to buy 29.7% of Talgo.
The acquisition brought an end to months of rival bids for a stake in the company.
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