Quarterly net revenue fell by 12.8% to €403.9m while CAF's order backlog decreased by 2.2% to €4.8bn, with 85% of sales being generated outside Spain. However, the company's Ebitda margin improved from 11.1% in first quarter 2012 to 13.8% this quarter.

During the first quarter of 2013, CAF was awarded a turnkey contract for the construction of a 30km light rail line in Kaohsiung, Taiwan. CAF's share of the contract is valued at €100m and comprises the supply of vehicles, electrification, signalling and ticketing systems. In São Paulo, Brazil, CAF won a five-year contract worth more than €120m to maintain two of Paulista Metropolitan Trains (CPTM) train fleets.

Other first quarter orders won by CAF include a €40m contract to supply Freiburg Transport (VAG), Germany, with 12 Urbos 3 LRVs, and a €44m deal to supply TLA in the Estonian capital Tallinn with 16 LRVs.