In a statement, the defense, aerospace and technology company said that revenues for the first three months of 2024 increased by 22%. Breaking down by division, sales of ATM, Defense, Mobility and Minsair rose 63%, 56%, 19% and 12%, respectively.
Indra’s profits rose 40% to 61 million euros in the first quarter of the year year-on-year, with all divisions – ATM, Defense, Mobility and Minsait – recording double-digit growth in sales volume.
In a statement, the defense, aerospace and technology company said that revenues for the first three months of 2024 increased by 22%. Breaking down by division, sales of ATM, Defense, Mobility and Minsair rose 63%, 56%, 19% and 12%, respectively.
Indra’s EBITDA margin rose to 10.4% in the months under review, slightly above the 10% observed in the same quarter. “This improvement in profitability is mainly due to the growth in the divisions with the highest operational profitability: Defense and ATM”, explains Indra, adding that, “in absolute terms, EBITDA grew 27%”.
According to the company, the portfolio rose to 7,199 million in the period under analysis in a year-on-year comparison, “driven by Minsait and ATM”. “The ratio between the order book and sales in the last twelve months was 1.58x, compared to 1.73x in the same period of the previous year”, reveals in the same note.
With regard to free cash flow, the multinational reports an increase to 68 million euros in the first quarter, more than double that recorded in the same quarter of 2023 (27 million euros), which the company justifies with “ greater operational profitability” and “improvement in working capital variation”.
Finally, Indra’s net debt stood at 89 million euros in March this year, below the 107 million euros in December last year, but higher in a year-on-year comparison (27 million in March 2023).
Marc Murtra, president of Indra, highlights the “solid way” in which the company’s Strategic Plan began, recalling the “first milestone” of “the approval by the Board of Directors of the creation of Indra Space”. In the words of the same person responsible, the entity “will be the cornerstone of activity in the space business”.
“These are solid quarterly results and the first small step towards executing our strategy”, highlighted Murtra.
In turn, general director José Vicente de los Mozos states that the first three months of 2024 were characterized “by significant growth in commercial and financial indicators and an improvement in profitability and cash generation, thanks to the work of everyone the men and women who make up Indra”.
“All of them, without exception, are focused on the effective development of our Strategic Plan – Leading the Future – announced on March 6th. Without a doubt, these quarterly results are an excellent starting point for achieving the objectives we set for ourselves”, adds the same person in charge, quoted in a statement.
