The company also says that its financial success is supported by its maintenance activity as well as the commercialisation of maintenance equipment.

Talgo registered a net turnover of €579.8m in 2016, an 11.3% increase compared with the previous year and its adjusted Ebitda in 2016 stood at €113.3m with its adjusted Ebitda margin at 20% in line with its margin targets for 2016.

Talgo’s full year results for 2016 show that 82% of the company’s revenues come from its industrial activity and international projects.

Talgo has begun manufacturing 603 passenger cars for Kazakhstan Railways (KTZ) after a second order was placed, and also delivered three overnight trains to Russian Railways (RZD) which entered service between Berlin and Moscow in December 2016.

Los Angeles Country Metropolitan Transport Authority (LACMTA) awarded a contract to Talgo for the refurbishment of rolling stock in the United States, and Spanish operator Renfe awarded Talgo a contract to supply and maintain 15 high-speed trains. Talgo says these contracts have been of huge strategic importance.