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Indra shoots up its profits by 76% in the first quarter | Economy

Indra facilities.
Indra facilities.

Indra has shot up its net profits by 76% to 39 million euros up to March compared to 22 million euros in the same period of the previous year. The company has invoiced 851 million euros, 13.3% more than between January and March in reported terms thanks to the growth of the two main areas of the company Minsait (17.5%) and Transport and Defense (6%), As reported this Friday to the National Securities Market Commission (CNMV.

The gross operating profit (Ebitda) was 87 million euros, with an increase of 36.6% supported by the increase of more than two percentage points in the company’s margins, which have exceeded 10% in gross terms and have been set at 8.2% in operating terms.

The company, as it did on several occasions in the 2021 financial year, has broken its portfolio record by reaching 6,000 million with 5,897 million euros as of March 31, 12.5% ​​more in reported terms and practically doubling the volume of security and defense contracts (98%) with the contracting of the Eurofighter MK1 radars for Germany and Spain.

The company has also closed the quarter with a positive free cash flow of 13 million euros, compared to the negative magnitude of 17 million euros the previous year. Net debt has decreased to 215 million in March, 25 million euros less than in December and 57% less in year-on-year terms. The company has reiterated its targets of €3.55bn of revenue, reported Ebit of over €270m and free cash flow of over €170m.

In the first quarter, the State Industrial Participation Company (SEPI) increased its stake in Indra from 18.7% to 28% of the capital. It has also introduced changes in senior management, with the resignation of Cristina Ruiz as CEO, responsible for the technology area, and the appointment of Luis Abril Mazuelas as executive director and general manager responsible for the IT business area. Previously, at the end of March, the financial director, Javier Lázaro, communicated his decision to leave the company.

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