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... 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 and headquartered in Madrid, the company operates through key segments including Rolling Stock, which focuses on train production and upkeep; Auxiliary Machines and Others, covering underfloor wheel lathes, measuring tools, shunting cars, and spare parts; and General corporate functions. Renowned for its innovative lightweight articulated train technology, Talgo S.A. offers very high-speed trains, power heads, locomotives, and refurbishment services worldwide. Its products serve sustainable mobility needs across Europe, America, the Middle East, North Africa, the Commonwealth of Independent States, and APAC. With a history of pioneering variable gauge systems and hybrid propulsion, Talgo S.A. emphasizes efficiency, safety, and environmental responsibility, positioning it as a global benchmark in the railway sector for intercity, standard, and high-speed rolling stock.
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.
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2025
2024
2023
2022 - 2017
Total Taxonomy Aligned Turnover
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Total Taxonomy Eligible Turnover
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3.3 CCM/CCA - Manufacture of low carbon technologies for transport
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2025
2024
2023
2022 - 2017
Total Taxonomy Aligned Opex
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Total Taxonomy Eligible Opex
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3.3 CCM/CCA - Manufacture of low carbon technologies for transport
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Metric
2025
2024
2023
2022 - 2017
Total Taxonomy Aligned Capex
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Total Taxonomy Eligible Capex
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3.3 CCM/CCA - Manufacture of low carbon technologies for transport
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7.6 CCM/CCA - Installation, maintenance and repair of renewable energy technologies
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Limited Data Preview
You are viewing a limited preview of Talgo’s EU Taxonomy dataset. The full dataset, available for download, includes eligibility and alignment metrics for turnover, CAPEX, and OPEX across all EU Taxonomy categories, at both aggregate and activity level, with historical coverage back to 2022.
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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 objectivesa:
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 objectivesa:
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 objectivesa:
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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