Backlog of orders puts positive spin on disappointing first quarter results for CAF.
The Spanish manufacturer saw its revenue and profits dip in the first part of 2015 by 18.4 per cent to €306.6 million and 21.7 per cent to €20.1 million respectively. CAF has blamed the results on problems with “scheduling”.
CAF also pointed to the first quarter of 2014 and the one off income from the sale of its shareholding in the Seville Metro concessionaire.
Despite the poor performance, CAF recorded a record order backlog of €5.4 billion – up 14.2 per cent on the previous year – not including a €118 million order with Norwegian operator Flytoget for eight new high-speed Oaris train sets. CAF’s EBITDA margin also rose, increasing by 6.2 per cent.
Exports accounted for 84.4 per cent of the company’s total turnover.
Orders in 2015 to date include trams for Saint Etienne and Utrecht, a fleet of new cars for the Caledonian Sleeper service and a signalling contract for the Monforte del Cid – Murcia AVE line.
