Stadler has presented its financial results for 2024, noting the significant impact of three major environmental disasters despite delivering approximately 500 rail vehicles.
In 2024, the company faced substantial disruptions due to severe flooding in Valais (Switzerland), Dürnrohr (Austria), and Valencia (Spain), which delayed production and supply chains.
As a result, an estimated 350 million CHF in revenue has been deferred to 2025 and 2026, contributing to a decline in the EBIT margin to 3.1 percent from 5.1 percent in 2024.
Despite these challenges, Stadler secured strategically important contracts, leading to a rise in its order backlog to 29.2 billion CHF. The company is currently managing 360 ongoing contracts and recorded an order intake of 6.4 billion CHF in 2024.
Impact of Environmental Disasters on Production
In June 2024, flooding in the Rhône Valley affected Stadler’s strategic supplier, Constellium, in Valais. Of the 1,200 tons of aluminium profiles stored, 850 tons were lost. To mitigate the impact, production was partially relocated to Constellium’s plant in Singen, Germany. Full capacity in Valais resumed in February 2025, with backlog recovery expected by August 2025.
What’s more, in September, a dam failure in Dürnrohr led to flooding at Stadler’s commissioning centre, causing the destruction of a newly built ÖBB KISS double-decker train.
The most severe event occurred in October near Valencia, where widespread destruction resulted in significant disruption. Stadler’s facility remained operational, but key external warehouses suffered severe damage. Approximately 40 suppliers were affected, with significant losses in production and warehouse facilities. As a result, 200,000 production hours were postponed, leading to delivery delays of between one and five months for around 50 orders.
Financial Performance and Market Developments
Stadler reported sales of 3.3 billion CHF for 2024, a 10 percent decrease from 3.6 billion CHF in 2023, largely due to the delays caused by the disasters. EBIT for the year stood at 100.5 million CHF, down from 183.3 million CHF in the previous year. Net profit declined to 55 million CHF from 138.6 million CHF.
In contrast to these overall results, the company saw significant growth in its Signaling division, with order intake increasing from 56 million CHF in 2023 to 520 million CHF in 2024. This was driven by a 500 million USD contract for a Central Bus and Train Control (CBTC) system for the Atlanta Metro in the United States.
International Market Developments
Stadler expanded its presence across various markets in 2024, securing major contracts in multiple regions:
- Saudi Arabia: Awarded a contract to supply 10 next-generation intercity trains
- Poland: Koleje Mazowieckie ordered up to 50 FLIRT trains, with an additional 15 units added later
- Switzerland: SBB Cargo placed an order for up to 129 multi-system locomotives
- United States: First light rail contract secured, with up to 80 CITYLINK trams for Salt Lake City
- France: The Paris Metro operator ordered 12 battery-electric locomotives
Focus on Alternative Drive Technologies
Stadler continued its leadership in alternative propulsion technologies, with 280 battery and hydrogen-powered trains sold by the end of 2024. The company remains a key player in the transition to energy-efficient rail transport solutions, with 50 percent of all alternative drive rail vehicles in Europe originating from Stadler.
Organisational Changes and Future Outlook
In 2024, two new members, Danijela Karelse and Niko Warbanoff, joined Stadler’s Board of Directors, replacing Barbara Egger-Jenzer and Kurt Rüegg.
Looking ahead, Stadler anticipates increased production output due to its strong order backlog. The company expects revenue to exceed 5 billion CHF by 2026, with EBIT margins projected to rise to between 6 and 8 percent in the medium to long term.
