CAF has recorded a 19.1 per cent drop in net profit in the first quarter of this year.
The Spanish rolling stock manufacturer saw net turnover fall to 403.9 million euros from 463.7 million in 2012.
Turnover has, however, remained up on the 2011 figure of 399.3 billion euros.
Net profit came in at 27.5 million and as of March 31, CAF’s order backlog stood at 4.87 billion euros – 85 per cent of which is from international projects.
So far in 2013, CAF has been awarded contracts to supply 12 trams to VAG in Freiburg, Germany, construct a 30 km light rail system in the Taiwanese city of Kaohsiung, supply 16 trams for Estonia and a maintenance agreement for a fleet of commuter trains in Sao Paulo.
