CAF In 2025, it achieved a turnover of 4.487 billion euros, driven by record contracts in its bus division. Solaris and the strength of the railway business, ensuring a promising future as its current strategic plan comes to a close.
Record hiring and order book
The year 2025 has marked a milestone for the company headquartered in BeasainTotal hiring amounted to 6.027 millones de eurosThis represents a 28% increase compared to the previous year. This commercial dynamism has boosted the order book to a record high of 16.235 millones de euros, which provides operational visibility equivalent to 3,6 times its annual sales.
The performance of Solariswhich for the first time exceeded €2.000 billion in contracts. The bus subsidiary has achieved significant penetration in strategic markets such as Canadá and the region DACH (Germany, Austria and Switzerland), consolidating its leadership in the zero-emission urban mobility segment in Europa.
| Financial Magnitude (M€) | 2024 Exercise | 2025 Exercise | Variation (%) |
|---|---|---|---|
| Sales (Turnover) | 4.212 | 4.487 | + 7 % |
| EBIT (Operating Profit) | 216 | 246 | + 14 % |
| Net Income Attributable | 103 | 146 | + 42 % |
| Order Book | 14.695 | 16.235 | + 10 % |
Strategic milestones and internationalization
In the railway sector, the Group CAF It was awarded the largest contract in its history with the Belgian operator SNCB, valued at 1.700 billion euros for the supply of trains AM30Furthermore, the company has made progress in implementing its own signaling technology. OPTIO (CBTC) in automated subway projects in Nápoles y Helsinki.
The bus division has also shown extraordinary growth. During 2025, 1.631 units were delivered, of which the 79% correspond to the zero emissions range (electric and hydrogen). Among the most relevant contracts are:
- Supply of trolleybuses for Vancouver (Canada).
- First orders for electric buses in Estados Unidos (Seattle and San Francisco).
- Massive contracts in Polonia with MZA Varsovia y GZM Metropolis.
Profitability and Sustainability: The Road to Net Zero
Operating profitability (EBIT margin) improved to 5,5%, thanks to efficient execution and a strong product mix. Furthermore, the group's financial health is reflected in the reduction of its Net Financial Debt to €188 million, placing the ratio DFN/EBITDA at an excellent 0,5x.
In terms of sustainability, the group has reported a 30% reduction in Scope 1 and 2 emissions, and a 43% reduction in Scope 3 emissions, aligning with its objective to achieve net zero emissions by 2045These results allow us to propose a gross dividend of €1,52 per share, 14% more than the previous year.
Key points and frequently asked questions about CAF results
What is the current order book of CAF?
At the close of 2025, the portfolio reached 16.235 millones de euros, a historic record that does not include recent pending awards worth more than 2.300 billion euros, such as the contract with SNCB in Belgium.
What is the role of electric mobility in the bus business?
It is predominant and strategic. 86% of the buses delivered By 2025 they will integrate electric mobility technologies (zero and low emissions), and Solaris It maintains a 58% market share in the urban hydrogen bus niche in Europe.
What are the company's prospects for the year 2026?
El Group CAF It expects to continue the growth trend with a high single-digit increase in sales, improved profitability and financial stability, as it faces the final year of its 2026 Strategic Plan with a controlled balance.
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