Indra’s business has performed well and in line with expectations, enabling management to reiterate all of its targets for 2013. Net profit in the first nine months of the year amounted to €66.6m, while sales stood at €2,123m, broadly flat year-on-year. Sales outside Spain, which now account for 60% of the total, continue to climb, specifically by 15% in Latin America and 13% in Europe and North America. The Spanish market contracted by 11%, showing an improvement in the third quarter with respect to the first-half performance.
Order intake stood at €2,177m, continuing to outpace sales. The backlog reached, €3,448m down by 3% year-on-year and representing 1.17 times sales for the last 12 months.
Recurrent EBIT amounted to €167m, implying a margin of 7.9%, in line with the guidance for 2013. Indra concluded its 2013 resource streamlining and rationalisation programme during the third quarter, which meant the recognition of €27m of extraordinary costs.
Net profit for the nine-month period came to €66.6m, down by 29% year-on-year. Recurrent net profit (before extraordinary costs) totalled €87.4m. Net debt amounted to €707m at the close.
Source / Author: Indra