Talgo SA

Common Name

Talgo

Country

Spain

Sector

Industrials

Industry

Railroads

Employees

3,420

Ticker

TLGO

Exchange

Bolsas y Mercados Españoles

Website

www.talgo.com

Description

Talgo S.A. is a Spain-based manufacturer specializing in the design, production, and maintenance of high-speed and intercity passenger trains, as well as auxiliary railway equipment. Founded in 1942 a... Show more

EU Taxonomy

Talgo's EU Taxonomy Data Preview

In 2025, Talgo was subject to the Corporate Sustainability Reporting Directive (CSRD)'s requirements, which mandated the company to publish EU Taxonomy disclosures.

The company reported the eligibility and alignment of Turnover, Capital Expenditure (CAPEX) and Operating Expenditure (OPEX) with the EU Taxonomy, helping assess the extent to which its business activities align with Europe's environmental sustainability goals.

Talgo has also provided an activity-level breakdown of its EU Taxonomy disclosures. This granular reporting enhances transparency around which economic activities of Talgo are considered environmentally sustainable and contribute to at least one of the six environmental objectives defined under the EU Taxonomy framework.

turnoveropexcapex

Metric	2025	2024	2023
Total Taxonomy Aligned Turnover	98%^a	99%^b	100%^c
Total Taxonomy Eligible Turnover	98%^a	99%^b	100%^c
Activity Level Taxonomy Aligned Turnover (1 activity)
3.3 CCM/CCA - Manufacture of low carbon technologies for transport	98%^a	99%^b	100%^c

Metric	2025	2024	2023
Total Taxonomy Aligned Opex	61%^a	66%^b	91%^c
Total Taxonomy Eligible Opex	61%^a	66%^b	100%^c
Activity Level Taxonomy Aligned Opex (1 activity)
3.3 CCM/CCA - Manufacture of low carbon technologies for transport	61%^a	66%^b	91%^c

Metric	2025	2024	2023
Total Taxonomy Aligned Capex	94%^a	94%^b	86%^c
Total Taxonomy Eligible Capex	94%^a	94%^b	100%^c
Activity Level Taxonomy Aligned Capex (2 activities)
3.3 CCM/CCA - Manufacture of low carbon technologies for transport	94%^a	93%^b	86%^c
7.6 CCM/CCA - Installation, maintenance and repair of renewable energy technologies	N/A	1%^b	N/A

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Verified Sources Behind Talgo’s EU Taxonomy Data

Every figure on this dashboard has a transparent audit trail. With Tracenable, each data point is traceable back to its original source, viewable directly inside our platform.

a. Talgo's Sustainability Report 2025

b. Talgo's Sustainability Report 2024

c. Talgo's Sustainability Report 2023

d. Talgo's Financial Report 2022

Insights into Talgo's Revenues from Sustainable Activities

In 2025, Talgo reported EU Taxonomy-eligible revenues of EUR 605.81 million, representing 98% of its total turnover. Of this amount, EUR 605.53 million of Talgo's revenues was classified as EU Taxonomy-aligned, indicating that 98% of the revenue-generating activities undertaken by the company substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).^a

Talgo's Taxonomy-Eligible Turnover Over Time

Total Taxonomy Eligible Turnover
Total Taxonomy Aligned Turnover

Have Talgo's revenues become more sustainable over time?

Since 2022, Talgo's taxonomy-aligned revenues decreased by 2%, indicating a long-term decline in environmentally sustainable revenue performance.^{a, d}

Compared to the previous year (2024), Talgo's taxonomy-aligned revenues decreased by 1.01%, suggesting that Talgo may have deprioritized sustainable activities, shifted focus away from green offerings, or reduced transparency in its EU Taxonomy reporting.^{a, b}

How much of Talgo's revenue is eligible under the EU Taxonomy?

In 2025, Talgo reported that EUR 605.81 million of its revenue was eligible under the EU Taxonomy, representing 98% of the company's total turnover. Of this amount, EUR 605.53 million (98% of total revenue) was classified as Taxonomy-aligned. This means that 0% of Talgo's revenue is eligible but not aligned, indicating that these activities did not meet the technical screening criteria, failed to comply with the Do No Significant Harm (DNSH) requirements, or lacked evidence of meeting the Minimum Safeguards.^a

How much of Talgo's eligible revenue is aligned with the EU Taxonomy?

In 2025, Talgo reported that EUR 605.53 million of its revenue was aligned under the EU Taxonomy, representing 98% of its total turnover.^a

This strong alignment suggests that Talgo has strategically integrated environmentally sustainable activities into its core business model, positioning itself as a leader in the green transition.

Talgo's Eligibility & Alignment Overview

Talgo's Contribution to Environmental Objectives

Total Taxonomy Aligned Turnover

How is Talgo's taxonomy-aligned revenue distributed across the EU environmental objectives?

In 2025, Talgo reported that its taxonomy-aligned revenue was distributed across the following EU environmental objectives^a:

Climate Change Mitigation: 98%
Climate Change Adaptation: 0%
Sustainable Use and Protection of Water and Marine Resources: 0%
Transition to a Circular Economy: 0%
Pollution Prevention and Control: 0%
Protection and restoration of biodiversity and ecosystems: 0%

How much revenue does Talgo earn from selling climate-related solutions ?

In 2025, Talgo reported that EUR 605.81 million of its total revenue was associated with activities contributing to the EU taxonomy climate-related objectives (Climate Change Mitigation and Climate Change Adaptation). This accounted for 98% of the company's total revenue,indicating that Talgoprimarily focuseson solutions that support climate action through its commercial activities.^a

Insights into Talgo's CAPEX from Sustainable Activities

In 2025, Talgo reported EU Taxonomy-eligible CAPEX of EUR 45.87 million,representing 94% of its total CAPEX. Of this amount, EUR 46.01 million of Talgo's CAPEX was classified as EU Taxonomy-aligned, indicating that 94% of the company's investments were directed toward economic activities that substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).^a

Talgo's Taxonomy-Eligible Capex Over Time

Total Taxonomy Eligible Capex
Total Taxonomy Aligned Capex

Have Talgo's increased its investment in sustainable activities over time?

Since 2022, Talgo's taxonomy-aligned capital expenditure (CAPEX)increased by 4.44%,pointing to a long-term shift toward greater investment in environmentally sustainable activities recognized under the EU Taxonomy.^{a, d}

Compared to the previous year (2024), Talgo's taxonomy-aligned CAPEX remained relatively stable, indicating that Talgo maintained consistent levels of green capital expenditure, with no significant expansion or retreat in its taxonomy-aligned investment strategy.^{a, b}

How much of Talgo's capital expenditure (CAPEX) is eligible under the EU Taxonomy?

In 2025, Talgo reported that EUR 45.87 million of its capital expenditure (CAPEX) was eligible under the EU Taxonomy, representing 94% of the company's total CAPEX. Of this amount, EUR 46.01 million (94% of total CAPEX) was classified as Taxonomy-aligned. This means that 0% of Talgo's CAPEX is eligible but not aligned, indicating that these investments either did not meet the technical screening criteria, failed to comply with the Do No Significant Harm (DNSH) requirements, or lacked evidence of meeting the Minimum Safeguards (MSS).^a

How much of Talgo's eligible CAPEX is aligned with the EU Taxonomy?

In 2025, Talgo reported that EUR 46.01 million of its CAPEX was aligned under the EU Taxonomy, representing 94% of its total capital investment.^a

This strong alignment suggests that Talgo is directing a significant portion of its capital investments toward environmentally sustainable assets or activities, reinforcing a strategic focus on long-term sustainability.

Talgo's Eligibility & Alignment Overview

Talgo's Contribution to Environmental Objectives

Total Taxonomy Aligned Capex

How is Talgo's taxonomy-aligned CAPEX distributed across the EU environmental objectives?

In 2025, Talgo reported that its taxonomy-aligned capital expenditure (CAPEX) was distributed across the following EU environmental objectives^a:

Climate Change Mitigation: 94%
Climate Change Adaptation: 0%
Sustainable Use and Protection of Water and Marine Resources: 0%
Transition to a Circular Economy: 0%
Pollution Prevention and Control: 0%
Protection and restoration of biodiversity and ecosystems: 0%

How much Talgo is investing in climate-related solutions?

In 2025, Talgo allocated EUR 45.87 million of its CAPEX to activities contributing to the EU Taxonomy's climate-related objectives (Climate Change Mitigation and Climate Change Adaptation). This represented 94% of the company's total capital expenditure,indicating that Talgois prioritizing climate-focused investments as a central part of its overall capital strategy.^a

Insights into Talgo's OPEX from Sustainable Activities

In 2025, Talgo reported EU Taxonomy-eligible OPEX of EUR 8.59 million,representing 61% of its total operating expenses (OPEX). Of this amount, EUR 8.65 million of Talgo's OPEX was classified as EU Taxonomy-aligned, indicating that 61% of the company's operating expenses were directed toward economic activities that substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).^a

Talgo's Taxonomy-Eligible Opex Over Time

Total Taxonomy Eligible Opex
Total Taxonomy Aligned Opex

Have Talgo's increased its spending in sustainable activities over time?

Since 2022, Talgo's taxonomy-aligned operating expenditure (OPEX)decreased by 23.75%,indicating a long-term decline in sustainability-related operational spending, which may reflect shifting priorities or reduced emphasis on green initiatives.^{a, d}

Compared to the previous year (2024), Talgo's taxonomy-aligned OPEX decreased by 7.58%, suggesting that Talgo may have reduced spending on environmentally sustainable activities, adjusted its operational priorities, or decreased the scope of its taxonomy-related disclosures.^{a, b}

How much of Talgo's operational expenditure (OPEX) is eligible under the EU Taxonomy?

In 2025, Talgo reported that EUR 8.59 million of its operational expenditure (OPEX) was eligible under the EU Taxonomy, representing 61% of the company's total OPEX. Of this amount, EUR 8.65 million (61% of total OPEX) was classified as Taxonomy-aligned. This means that 0% of Talgo's OPEX is eligible but not aligned, indicating that these expenditures either did not meet the technical screening criteria, failed to comply with the Do No Significant Harm (DNSH) requirements, or lacked evidence of meeting the Minimum Safeguards (MSS).^a

How much of Talgo's eligible OPEX is aligned with the EU Taxonomy?

In 2025, Talgo reported that EUR 8.65 million of its OPEX was aligned under the EU Taxonomy, representing 61% of its total operational expenditure.^a

This strong alignment suggests that Talgo is allocating a significant share of its operating budget to environmentally sustainable activities, signaling a strategic emphasis on day-to-day sustainability performance.

Talgo's Eligibility & Alignment Overview

Talgo's Contribution to Environmental Objectives

Total Taxonomy Aligned Opex

How is Talgo's taxonomy-aligned OPEX distributed across the EU environmental objectives?

In 2025, Talgo reported that its taxonomy-aligned operational expenditure (OPEX) was distributed across the following EU environmental objectives^a:

Climate Change Mitigation: 61%
Climate Change Adaptation: 0%
Sustainable Use and Protection of Water and Marine Resources: 0%
Transition to a Circular Economy: 0%
Pollution Prevention and Control: 0%
Protection and restoration of biodiversity and ecosystems: 0%

How much of Talgo's operational budget supports climate-related solutions?

In 2025, Talgo allocated EUR 8.59 million of its OPEX to activities contributing to the EU Taxonomy's climate-related objectives (Climate Change Mitigation and Climate Change Adaptation). This represented 61% of the company's total OPEX,indicating that Talgois focusing a significant share of its operational spending on supporting climate action through its day-to-day activities.^a

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Talgo's EU Taxonomy Data Preview

Verified Sources Behind Talgo’s EU Taxonomy Data

Insights into Talgo's Revenues from Sustainable Activities

Talgo's Taxonomy-Eligible Turnover Over Time

Have Talgo's revenues become more sustainable over time?

How much of Talgo's revenue is eligible under the EU Taxonomy?

How much of Talgo's eligible revenue is aligned with the EU Taxonomy?

Talgo's Eligibility & Alignment Overview

Talgo's Contribution to Environmental Objectives

How is Talgo's taxonomy-aligned revenue distributed across the EU environmental objectives?

How much revenue does Talgo earn from selling climate-related solutions ?

Insights into Talgo's CAPEX from Sustainable Activities

Talgo's Taxonomy-Eligible Capex Over Time

Have Talgo's increased its investment in sustainable activities over time?

How much of Talgo's capital expenditure (CAPEX) is eligible under the EU Taxonomy?

How much of Talgo's eligible CAPEX is aligned with the EU Taxonomy?

Talgo's Eligibility & Alignment Overview

Talgo's Contribution to Environmental Objectives

How is Talgo's taxonomy-aligned CAPEX distributed across the EU environmental objectives?

How much Talgo is investing in climate-related solutions?

Insights into Talgo's OPEX from Sustainable Activities

Talgo's Taxonomy-Eligible Opex Over Time

Have Talgo's increased its spending in sustainable activities over time?

How much of Talgo's operational expenditure (OPEX) is eligible under the EU Taxonomy?

How much of Talgo's eligible OPEX is aligned with the EU Taxonomy?

Talgo's Eligibility & Alignment Overview

Talgo's Contribution to Environmental Objectives

How is Talgo's taxonomy-aligned OPEX distributed across the EU environmental objectives?

How much of Talgo's operational budget supports climate-related solutions?

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