Indra has today unveiled the strategic plan, “Leading the future”, with which it seeks to become “the leading Spanish multinational in defence, aerospace and advanced digital technologies”. The business roadmap of the company chaired by Marc Murtra, directed by José Vicente de los Mozos and which is 28% owned by the State, involves giving a significant boost to the defense area, taking advantage of the rise in military spending, creating a company dedicated to the space that seeks possible alliances with Hispasat, a public company, and other companies, and brings new partners into Minsait, the technology area, aggressively reviewing its portfolio to also reposition the division in the market.
For the new Indra, the defense area will be a priority in the coming years. It is a country project aligned with the Government, the EU and NATO. With a series of defined strategic lines, the company's objective is to focus the activity of the military division and be part of the coordination of European programs as other community countries with a powerful defense industry, such as Germany, France and Italy, already do. Indra explains in its strategic plan that its mission is “to become the reference integrator in defense programs.”
At this moment, Indra has more than 50% of committed organic sales in its military division. 70% of them belong to eight military programs. The main one is the FCAS, the future European combat aircraft that is the jewel in Indra's crown. The company is the national coordinator and provider of sensor systems at the same level of commitment (33%) as France and Germany, which is historic for a Spanish defense company. The other seven military programs highlighted by Indra are the NH-90 helicopter, the Tigre helicopter, the 8x8 armored vehicle, the Eurofighter fighter, the A-400M aircraft, the Chinook helicopter and the F-100 frigate.
Indra has also revealed today the best kept secret: what the future of Minsait will be. After an in-depth study of the company's capabilities and having received some interest in the market to acquire the area, the company's management leadership has decided to maintain, at least for the moment, the integrated technology division and go on the market in looking for new partners to turn it into “the main information technology company in Europe and Latin America.”
That is, Minsait will not have the “for sale” sign in its entirety, as of today, but will be part of Indra with an “aggressive” review of its portfolio and an increase in its business autonomy with the entry of the companies who are interested in strengthening the shareholding of the technology division. The mobility area, until now as its own division, will be integrated into the area. Minsait continues to be the part of Indra with the highest income, but also the one that employs the most staff. Of 53,000 employees, 43,000 belong to Minsait.
The president of Indra, Marc Murtra, explained today that "we are going to maintain a considerable stake in Minsait, because we see that in the field of defense, advances in digitalization are developed first in the civil field and are then used in the military". Indra's role in Minsait, therefore, will "always" be "relevant," added Murtra.
Within the war room that Indra raised in recent months to develop the strategic plan, the segregation of Minsait and its possible sale were studied. But to have completely divested itself of its information technology subsidiary would be to leave Indra without an essential part of its business at this time.
The sale of Minsait was publicly defended by the British investment fund Amber Capital, one of Indra's main shareholders who has a director on the company's governing body. Its founder Joseph Oughourlian told Bloomberg: “We are pushing for a division of the company between technology and defense or a complete sale or merger of the technology division.” The State Society of Industrial Participations (SEPI) never supported this position.
Indra also plans to create a company specifically dedicated to space with the aim of generating a turnover of up to 1,000 million in 2030 (in 2023 it had a turnover of 40 million). At this point, the company's CEO, José Vicente de los Mozos, has indicated in a meeting with analysts that Hispasat, chaired by Minister Pedro Duque, is a candidate to ally with Indra in this area, although not the only one. The group will also seek to close business alliances with other partners, accelerate the decarbonization of its activities and take advantage of the momentum of artificial intelligence.
At a business level, Indra plans to more than double its turnover in the coming years. Of the 4,300 million revenues in 2023, the strategic plan sets the objective of reaching 6,000 million in 2026 and 10,000 million in 2030. The company plans to earn 900 million between 2023 and 2026, and 3,000 between 2024 and 2030.
