Madrid, July 25, 2019 – Fernando Abril-Martorell, Chairman and Chief Executive Officer of Indra:
“1H19 results are marked by the acceleration of revenue and order intake growth in almost every business and geography where Indra has presence, with our backlog reaching another historic high, as well as by the profitability improvement, boosted by Minsait”.
“T&D and Minsait accelerated their revenue growth in 2Q19, with Transport and Energy & Industry standing out at double digit rates. Digital solutions revenues grew +18% in the half-year. Furthermore, all geographies reflected growth acceleration except for Spain, which stabilized. Latin America posted another sound quarter, with Brazil and the main countries showing revenue expansion, both in local currency and reported figures, and with a significantly lower FX impact vs 2018”.
“Indra improved its profitability in 1H19, with Minsait standing out and posting profitability improvement of 220 basic points despite the lower contribution of the Elections business.”
“Cash generation in 1H19 was affected by the strong seasonality of the working capital, by the revenue growth and other operating items. Working capital evolution will improve during the following quarters thanks to the normalization of the delays in milestone collections concentrated in big projects and the own seasonality of the business”.
“To conclude, 1H19 results are in consonance with our revenue and profitability prospects for the year (Guidance 2019). Our management effort is fully focused on achieving all the targets for 2019, with special attention to the profitability (EBIT) of our operations and the working capital”.
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