Titagarh Wagons Ltd, which is in talks with the Italian government for support to boost its operation in Europe, is confident of making a turnaround of its arm there by next year, a top company official said on Wednesday. The Italian arm of the group, Titagarh Firema, which had reported a loss of around Euro 9 million in FY’22, including one-off exceptional expenses totalling Euro 4.5 million due to operational restructuring, is hopeful to become EBITDA (earnings before interest, taxes, depreciation, and amortisation) positive in the current fiscal and will take another year to be “net positive”, he claimed.
