Indra increased its net profit by 40%, to 61 million, and its income by 22%, to 1,118 million, during the first quarter of 2024 compared to the same period of the previous year. These results allow the group, majority owned by the State Society of Industrial Participations (SEPI), to confirm “all the financial objectives” for the year set out in its strategic plan. The company's roadmap is to reach a turnover of 6,000 million in 2026 and reach a business volume of 10,000 million in 2030, which is more than double the current figures.
The order book grew in all Indra's business units, except for defense. If the military area was key for the company to earn 206 million last year, in the first three months of 2024 the defense order portfolio has fallen to 3,059 million, 2% less than in the same period of 2023. Contracting, for its part, stood at 295 million, 4.3% more and income was 191 million, 56% more.
Minsait, the technology division that is partially for sale, was the area that reported the highest income to Indra. Two out of every three euros invoiced came from that division, up to 731 million. The air traffic area, for its part, increased its income by 63%, to 116 million; and mobility had a turnover of 79 million, 19% more.
Indra's order book between January and March 2024 reached 7,199 million, 6% more than the previous year, driven by Minsait and the air traffic area.
Several contracts were especially important for Indra's first results of the year. Firstly, two agreements for air traffic management in Canada and Colombia. In addition, Minsait managed to increase its income due, mainly, to its agreements with public administrations and for the counting of votes in elections.
The exchange rate subtracted 7 million from Indra's income due to the depreciation of currencies in Argentina and Chile. The group's debt grew to 89 million, compared to 27 million in March 2023. However, as of December of last year Indra owed 107 million
“We have firmly begun 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,” said the president, Marca Murtra, who has just gained executive powers.
The CEO, José Vicente de los Mozos, stated, for his part, “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.”
Indra's most important project at the moment is the future European combat aircraft, the FCAS. The multinational chaired by Marc Murtra is seeking to scale the project by allying with technology centers in the country and has reached an agreement with the Barcelona Supercomputing Center (BSC) and the Galician technology center Gradiant, as La Vanguardia has learned. The objective is for the Catalan computing center to collaborate in the development of highly innovative technologies to incorporate them into the fighter that will be operational from 2040.
It is the first time that Spain participates at the same industrial level as France and Germany in a military project. The three countries have committed to investing 8 billion. In the third of the Spanish project, Indra is in charge of developing the part of the combat cloud, which will allow data to be exchanged in real time with any aircraft, ship, armored vehicle or satellite.
The BSC's task will be to develop its specialization in artificial intelligence and supercomputing. Gradiant will contribute its advances in so-called cognitive radios, capable of learning, adapting and making decisions in real time.
Indra launched a public competition to detect SMEs, startups and research centers that collaborate in the ambitious project and received 80 proposals from 70 entities throughout the territory. The objective of the group is that the Defense ministries of Spain, Germany and France have, at the end of the program, an advanced military system, unique in the world.
