The company revises its targets for the year upwards
Indra has registered a net profit of 90 million euros in the first half of the year, 35.3% more than the 66 million euros in the same period of the previous year, according to the company's results report presented this Thursday before the National Stock Market Commission (CNMV).
The income of the Spanish technology and defense firm in the accumulated of the first six months of the year has been located at 2,012 million euros, which is 11.46% more than the 1,805 million euros of the first half of the year former.
In this sense, the income of Minsait --the group's technology subsidiary-- in the period has been 1,349 million euros (11.3% in interannual terms), while those from the Transport and Defense business were at 663 million euros (11.8%).
Regarding the increase in billing in the Transport and Defense area, Indra highlighted the contribution of the FCAS and Eurofighter projects, as well as air traffic, with "solid activity" in all geographies, especially in Spain, Belgium, the United Kingdom Kingdom, Panama, United States and India.
On the other hand, transport sales fell by 12% due to the decline registered in Spain and in the Asia-Pacific, Middle East and Africa region, "where there was a significant incidence of control and ticketing system projects in Egypt and the interurban system in Riyadh (Saudi Arabia) during the same period of the previous year," the company detailed.
Regarding Minsait's revenues, the company has highlighted the "strong demand" for its services and the growth in all its verticals.
Indra registered a gross operating profit (Ebitda) of 189 million euros (8.3%) up to June, while the net operating profit (Ebit) was 139 million euros (12.8%).
Thus, the company's Ebitda margin in the first half was 9.4%, compared to 9.6% in the same period of 2022, while the Ebit margin stood at 6.9% (6.8 % in June last year).
The firm's order book has once again established a historical record by increasing by 12.82% and reaching 6,819 million euros, compared to 6,044 million euros in the same period last year.
Specifically, the portfolio of the Transport and Defense division amounted to 4,769 million euros (17%), while that of Minsait stood at 2,051 million euros (4%).
In this context, the net contracting of the Transport and Defense area grew by 8% in local currency in the first semester and that of Minsait by 10%.
"These very positive results are a reflection of the strength and commitment of all the teams that make up Indra. I would like to highlight in these data the commercial performance and its corresponding growth in contracting and the acceleration in the growth of turnover and operating result", highlighted the CEO of Indra, José Vicente de los Mozos.
In this context, the company has announced an improvement in its forecasts for the end of the year and, specifically, forecasts revenue of more than 4,150 million euros, compared to previous estimates of 4,000 million euros. In other words, it improves the forecast by almost 4%.
Likewise, it expects to close the course with a reported Ebit of more than 325 million euros, compared to the previous forecast of 315 million euros, for which the company improves its estimate by 3.17%.
On the other hand, it expects to close the year with a reported free cash flow of more than 210 million euros, when its previous forecasts stood at 200 million euros, that is, it has improved them by 5%.
NEW STRATEGIC PLAN
Indra's new strategic plan for the period 2024-2026 and with a vision for 2030 will be presented in the first quarter of 2024 and will be called 'Leading the future', Indra highlighted.
"Based on these magnificent results, we are going to focus the entire company on creating a strategic plan for the years 2024-2026, but with a vision set beyond 2030 (...) It will be based on growth through of different vectors such as the optimization of the international footprint, the simplification and creation of the portfolio and the commitment to value in any of the activities in which Indra is present", detailed De los Mozos.
For his part, the president of Indra, Marc Murtra, has indicated that the company continues on the "path" of changes, transformation and "improvements".
"The arrival of José Vicente (de los Mozos) allows us to give the company a new and important boost in a line of profitable growth, all with the ambition that Indra be the reference in the technological sectors in which it operates. We are before a transforming, inspiring and exciting moment for all of us who are part of Indra. In this new stage we are going to focus all our efforts on continuing to grow profitably and sustainably and on strengthening our technological leadership", Murtra stressed.