Indra earns 66 million between January and June, 19.9% ​​more, with a record in its order book

The company improves its annual guidance and breaks a portfolio record

Indra has recorded a net profit of 66 million euros in the first half of the year, 19.9% ​​more than in the same period of the previous year, according to the results report published this Wednesday before the National Securities Market Commission ( CNMV).

Revenues in the same period have exceeded 1,805 million euros driven by Minsait, with an increase of 11.6% in reported terms compared to the previous year.

Likewise, the firm's portfolio has once again set a historical record, increasing by 12.6%, to stand at 6,044 million euros.

The gross operating profit (Ebitda) of the technology and defense company was 174 million euros, 19.5% more than that registered in the first half of 2021.

Likewise, the firm has registered a positive cash flow of 24 million euros, compared to a negative 50 million euros in 2021.

The growth of the firm in the last twelve months has also allowed the ratio between debt and Ebitda to be lowered to 0.6 compared to 2.1 in June 2021, which translates into a drop in net debt of 61.6% up to 210 million euros.

During this quarter, Indra has also benefited from the evolution of Latin American currencies such as the Colombian peso, the Mexican peso and the Brazilian real, which have had a positive impact of 28 million euros on the accounts during the semester, of which 21 million euros correspond to the second quarter.

In a statement, Indra's CEO, Ignacio Mataix, celebrated "another quarter of growth" for the firm and highlighted cash generation "very positively."

"We continue to see strong demand in our main businesses, which is not yet reflecting the general worsening of the macroeconomic outlook in our main markets," the manager assured.

For this reason, the company has improved its guidance for the end of the year with a projection of revenues above 3,600 million euros, a reported operating profit (reported Ebit) of more than 280 million euros and a free cash flow above of 175 million euros.

MINSAIT AND TRANSPORT AND DEFENSE

Minsait has been the main source of growth in the group's turnover, increasing its income by 17.2%, to 1,212 million euros, with an Ebitda of 94 million euros, 14.2% more, although this magnitude has receded in the second quarter of the year.

The company has reduced to 7.8% (-0.2 points) the margins of the information technology division, which accumulates more than 1,500 million euros in contracts so far this year. Likewise, the six firms acquired last year have contributed 18 million euros in revenue.

For its part, Transport and Defense has invoiced 593 million euros until June, 1.6% more, after slowing down its growth in income in the last quarter due to a lower contribution from the Eurofighter project and less activity in projects in Asia, the Middle East and Africa in air traffic and transportation.

This area, however, has shot up its Ebitda by 26%, to 80 million euros, with margins of 13.4%, 2.6 percentage points more.

The firm has triggered its net contracting with 793 million euros until June due to growth in Defense

However, the company has warned that the contracting out of the Frigates project signed with Lockheed Martin in 2019, which exceeds 150 million euros, will take place in the next quarter.

At the group level, the workforce at the end of June was 54,933 employees, 10% more than in June 2021 thanks to growth in America, where it has added more than 3,000 employees, and Spain, where the firm has incorporated 1,880.