Madrid, February 28, 2019.- Fernando Abril-Martorell, Chairman and Chief Executive Officer of Indra: “2018 results start to show the benefits coming from the implementation of the transformation, investment, efficiency and cultural change initiatives announced in our new strategic plan 2018-2020, as well as from the positive performance of the new organizations in both IT and T&D. Order intake and backlog kept growing above revenues for another quarter. Organic revenues (in local currency and adjusting the contribution of acquisitions) increased in 2018. The company´s profitability improved again, EBITDA grew in absolute terms and as a percentage of sales, in a year with less contribution of the Eurofighter program and the Elections business”.
“Cash generation was very solid once again, amounting to €168m, which allowed us to enhance our leverage to 1.6x Net Debt/EBITDA. The T&D division showed robust order intake and backlog growth and margin improvement. The Transport segment stood out, showing revenue expansion and coming back to profitability. For its part, Minsait (IT) registered order intake, backlog and revenue growth”.
“In conclusion, 2018 results showed Indra´s return to revenue growth, improvement in profitability and capital structure and debt reduction. We have fulfilled or over fulfilled the guidance committed with the financial community for 2018. Likewise, the expansion of the order intake and backlog, even above revenues, improves the visibility of our future growth. In 2019, Indra expects to continue with its efforts in the transformation process and the cost initiatives in order to offset the persisting competitive pressure that all its businesses face, chiefly Minsait”.
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