MADRID, May 7 (Reuters) -

Spanish train maker Talgo said on Tuesday its net profit more than quadrupled to 10.4 million euros ($11.20 million) in the first quarter, boosted by strong revenues and a record order backlog.

Talgo's results reflect an increased activity in the rail sector as Europe is working to replace flights with trains for short-haul journeys as part of its climate commitments.

A year ago, Talgo reported a net profit of 2.4 million euros, dampened by supply chain disruptions and higher financial costs.

In March, Hungarian consortium Ganz-Mavag launched a 619 million euro ($677 million) public tender offer for all Talgo shares, a deal set to face tough scrutiny in Madrid as the government considers Talgo a strategic asset. Talgo had a market value of 545 million euros as of the market's close on Tuesday.

The company reiterated its 2024 guidance for EBITDA margin - a key measure of profitability - at 11.5%, slightly below the 12% posted at the end of the first quarter.

From January to March, Talgo booked a 31% revenue increase from a year ago to 166.5 million euros, and an order book worth 4.06 billion euros.

($1 = 0.9283 euros) (Reporting by Matteo Allievi, editing by Andrei Khalip)