Indra Sistemas SA

07/27/2021 | Press release | Distributed by Public on 07/27/2021 13:08

Indra increased close to 10% its EBIT and FCF targets for 2021. Indra’s revenues and profitability exceeded the pre-crisis volumes of 1h19

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27 July 2021Spain

  • Net Profit amounted to €55m in 1H21 vs €-75m in 1H20 and €34m in 1H19 (+63%)
  • 1H21 revenues went up +11.6% in local currency vs 1H20 (+9% in reported terms) and +10% in local currency vs 1H19 (+5% in reported terms), accelerating its growth until +18% in local currency in 2Q21 vs 2Q20
  • Reported EBIT stood at €100m in 1H21 vs -€78m in 1H20 and €79m in 1H19 (+27%)
  • 1H21 revenues in Minsait increased by +9% in constant currency vs 1H20 and +11% vs 1H19, pushing EBIT margins above 5% in the period (vs -6.2% in 1H20 and 2.8% in 1H19)
  • 1H21 T&D revenues went up +16% in local currency vs 1H20 and +8% vs 1H19; Defence & Security outperformed with +22% in local currency. 2Q21 T&D EBIT margin improved vs 2Q20 and vs 2Q19.
  • Cash generation in 1H21 was €-25m (excluding €-25m of the workforce transformation plan) vs €-88m in 1H20
  • Net debt reached €546m vs €670m in June 2020. Net Debt / EBITDA LTM ratio stood at 2.1x in June 2021 vs 2.7x in June 2020
  • Backlog reached another new historic absolute high (€5,366m), implying 1.7x backlog/revenues LTM