Indra The year has started with strong growth, after a record 2023. The company’s results for the first quarter of 2024 reflect an increase in income of 22%, compared to the same period of the previous year, to 1,118 million euros.
In this same period, the net result or profit amounted to 61 million euros, which represents a growth of 40% compared to the first three months of 2023 -44 million-. The portfolio exceeded the figure of 7,000 million at the end of March 2024 -7,199 million-. A good part of the orders continue to be in the Defense area -3,059 million-.
Revenues in all divisions of the company had double-digit year-on-year growth (ATM -air traffic- 63%; Defending 56%; Mobility19% and Minsait 12%).
Ebitda grew by 27.2%, to 117 million from 92 million. The company improved profitability both in the Ebitda margin (10.4% in the first quarter compared to 10.0% in the first quarter of 2023) and in the EBIT margin (8.1% compared to 7.1% in the first quarter of 2023). Meanwhile, net debt stood at 89 million in March 2024 compared to 107 million in December 2023 and 27 million in March 2023.
Indra results in the first quarter of 2024. Photo: Indra
For Marc Murtrapresident of Indra, “we have begun with firm steps the implementation of our Strategic Plan, our first milestone being the approval by the Board of Directors of the creation of Indra Espacio, an entity that will be the cornerstone of our activities in the space business. These are solid quarterly results and a first small step in the execution of our strategy.”
In reference to the financial results, José Vicente de los Mozos, CEO of Indra, stated: “The first quarter of the year has been characterized by significant growth in our commercial and financial indicators and by improved profitability and cash generation thanks to the great work of all men and women. which are part of Indra. All of them, without exception, are focused on the effective deployment of our Strategic Plan -Leading the Future-, announced on March 6. Without a doubt, these quarterly results are a great starting point to achieve the objectives we have set.”
The company sets its objectives for 2024 with revenues of more than 4,650 million euros; a reported EBIT of over €400 million and a reported free cash flow of over €250 million.
Indra has announced its results a month after presenting its new strategic plan Leading the Future with which they intend to become a Tier 1 European, in the national Defense coordinator and achieve an annual turnover of 6,000 million euros in 2026 and 10,000 million in 2030. In Space, the company also aspires to create a new company with the entire value chain in Spain.
