The Guipuzcoan railway and bus manufacturer CAF hopes to continue its “growth path” this year, for which it focuses on strategic markets, especially Europe, and on “improving profitability”, so that it maintains expectations of its strategic plan that plans to increase sales to 4.8 billion euros in 2026.
For this year, CAF “continues to maintain the profitable growth ambition of the strategic plan”remarked the CEO of Construcciones y Auxiliar de Ferrocarriles SA, Javier Martínez Ojinagain his speech before the ordinary general meeting that was held this Saturday at the company’s headquarters in Beasain (Gipuzkoa).
The CEO of CAF has informed the shareholders of the main achievements of 2023 and the company’s priorities and perspectives for this year, after the intervention of the president of the board of directors, Andrés Arizkorretawhich has been responsible for reporting on the recent review of the corporate code of conduct and the approval of the ‘Human Rights Due Diligence Policy’, among other reports.
Martínez Ojinaga has assured that CAF “has managed to follow the established roadmap” despite the fact that in the last year and a half some hypotheses on which it developed its strategy in 2022 “have been affected” by “geopolitical and macroeconomic” events that have caused industrial impacts -in supply chains and costs- and financial, due to “the significant and accelerated” increase in interest rates.
Despite this context, The Basque company closed 2023 with “a very positive evolution in all variables”as demonstrated by21% increase in sales which, as he recalled, reached the global figure of 3,825 million euros, about 3,000 corresponding to the railway business and the rest to the bus business, which is handled by its subsidiary Solariswhose profitability has been experiencing “a progressive improvement.”
“These results – he highlighted – confirm that we are going in the right direction and we are prepared to lead the future of sustainable, interconnected, multimodal and safe mobility.”
The CEO has emphasized that during the last financial year CAF has achieved “key milestones” for its future “aligned” with its strategic route and among them he has cited the high hiring in both lines of business.
In this sense, he has highlighted the awards for the supply and maintenance of ‘tri-mode’ trains for LNER in the United Kingdom, seven suburban and medium distance trains for Renfe and agreements for regional trains with ‘Coradia Polyvalent’ of France.
The contract is “historic” both in the railway services and in Solaris since “each one exceeds, and for the first time in its history, the symbolic figure of 1,000 million euros,” he added, according to the Efe agency.
In the segment of busesMartínez Ojinaga has announced that they have obtained contracts for a large number of units, not only electric but also in fleets of hydrogen-powered vehiclesas is the case of cities like the Italian ones Bologna and Venice and Barcelona.
Overall, he added, the order book continues to expand to reach 14.2 billion euros and, with this, “future activity” is made visible to fulfill your plans.
It is also, as he has pointed out, a “broadly diversified” portfolio, where Europe gains weight” and that has not included in that figure some 8,000 million “allocable future options.”
At Solaris it has been possible to “reverse the trend and return to the path of growth, profitability and financial stability”while consolidating its leadership in the market e-mobility. “It once again occupies the first position in the zero-emission urban bus market in Europe, with a share – he has specified – of 15%.”
About the technology of hydrogen“the leadership is even more striking” since one of every two hydrogen urban buses in Europe has been marketed by its subsidiary, he assured.
As to innovationhas renewed the company’s commitment to exploring new solutions, in energy accumulation, alternative traction, hydrogen, remote and autonomous driving tests or digital solutions, while indicating that CAF is open to artificial intelligence “as a driving force.” competitiveness”, a field in which it has already done some tests.
The manager recalled that the company not only manufactures and maintains trains but also It also grows in comprehensive projects and signage.
In this area, he has advocated for strengthen its market share in Spain, in road signalingand on the other hand has congratulated itself for being chosen among the four companies authorized to provide digital signaling services in the train control systems of the United Kingdom.
