In an industry where multi-year delays are commonplace, Stadler Rail has distinguished itself through reliable execution. The Swiss rail manufacturer successfully placed three SMILE high-speed trains into service for Austrian operator WESTbahn on March 1, meeting its scheduled deadline less than two years after the contract was signed. This stands in stark contrast to the standard four-to-five-year timeframe typical for such projects.
Operational Milestones Beyond Austria
Stadler’s recent operational successes extend beyond this single delivery. The company, alongside its consortium partner Siemens Mobility, has secured a contract to retrofit the Copenhagen S-Bahn network for driverless operation. In Turkey, the national railway company TCDD Taşımacılık placed an order for 35 Euro4001 diesel locomotives. Furthermore, in Switzerland, BLT Baselland Transport became the first operator to deploy semi-autonomous trains with GoA2 automation, also supplied by Stadler.
This consistent delivery capability, centered on its primary production facility in Bussnang, is emerging as a key competitive advantage. For WESTbahn, Stadler is the second customer for its SMILE model, following Swiss Federal Railways (SBB), where the train operates under the name ‘Giruno’. The private Austrian operator is leveraging this new rolling stock to challenge state-owned ÖBB on the strategically vital Vienna-Carinthia route.
Austria’s Fastest Passenger Trains Now Running
The three eleven-unit articulated trains, each 202 meters long, are now operating between Vienna and Carinthia via the new Koralm railway. Capable of reaching speeds up to 250 km/h, they currently hold the title of the fastest trains in regular Austrian passenger service. WESTbahn launched with three daily connections per direction, with plans to increase to five on weekends and during holiday periods starting March 26.
Originally developed for the Gotthard Base Tunnel, these trains were adapted for WESTbahn’s needs. Because part of the route traverses the historic Semmeringbahn, where clearance restrictions prohibit double-decker vehicles, WESTbahn opted for a six-year direct lease agreement with Stadler. The trains possess TSI approval for operation in Switzerland, Germany, Italy, and Austria and are equipped with three different power supply systems.
Investor Focus Shifts to Financial Performance
Attention now turns to Stadler’s full-year financial results, scheduled for release on March 18. Market participants are expected to scrutinize the company’s margin development and the efficiency with which its substantial order backlog is being converted into revenue. The timely commissioning in Austria serves as a tangible demonstration of Stadler’s project execution quality—a factor likely to carry weight ahead of the earnings report.
The company’s shares last traded at 20.90 euros, a price level hovering near its 52-week low.