The defense, aerospace and technology company said in a statement that revenues for the first three months of 2024 increased by 22%. Broken down by division, ATM, Defense, Mobility and MNSAT sales increased 63%, 56%, 19% and 12%, respectively.
Indra’s profits rose 40% to €61 million in the first quarter year-on-year, with all its divisions – ATM, Defence, Mobility and Minsait – recording double-digit growth in turnover.
The defense, aerospace and technology company said in a statement that revenues for the first three months of 2024 increased by 22%. Broken down by segment, ATM, Defense, Mobility and MNSAT sales increased 63%, 56%, 19% and 12%, respectively.
Indra’s EBITDA margin rose to 10.4% in the months under review, slightly above the 10% recorded in the same quarter. “This improvement in profitability is mainly due to growth in the divisions with the highest operating profitability: defense and ATM,” explains Indra, adding that “in absolute terms, EBITDA increased by 27%.”
According to the company, the portfolio rose to $7,199 million in the period under analysis in a year-over-year comparison, “driven by Minsait and ATM.” “The ratio between order book and sales in the last 12 months was 1.58 times, compared to 1.73 times in the same period of the previous year,” the same note said.
Regarding free cash flow, the multinational company reported an increase to 68 million euros in the first quarter, more than double what was recorded in the same quarter of 2023 (27 million euros), which the company justifies by “greater operating profitability” and “Improving working capital variance.”
Finally, Indra’s net debt was €89 million in March this year, lower than €107 million in December last year, but higher compared to last year (€27 million in March 2023).
Mark Murtra, President of Indra, highlights the “strong way” in which the company’s strategic plan has begun, recalling the “first milestone” of “board approval for the creation of Indra Space”. In the words of the responsible person himself, the entity “will be the cornerstone of activity in the space business.”
“These are strong quarterly results and the first small step towards executing our strategy,” Murtra explained.
In turn, General Manager José Vicente de los Mozos says that the first three months of 2024 were marked by “significant growth in commercial and financial indicators and an improvement in profitability and cash generation, thanks to the work of everyone, men and women who make even Indra.”
“All of them, without exception, are focused on the effective development of our strategic plan – Driving the Future – which was announced on March 6th. There is no doubt that these quarterly results represent an excellent starting point for achieving the goals we have set for ourselves.”
“Writer. Analyst. Avid travel maven. Devoted twitter guru. Unapologetic pop culture expert. General zombie enthusiast.”