Indra rises 8.8% after posting solid Q1 results and projecting Ebit of €400m for full year

Indra Tecnocom

Singular Bank | The Spanish Defence and Technology Consulting company rallied 8.8% today after posting solid 1Q results and projecting Ebit of €400m for the full year, in line with strategic plan forecasts. Net order intake grew 12% year-on-year and backlog reached a new record high of €7.2 billion, bringing the backlog-to-sales ratio to 1.58x. Revenues increased 22%, with double digit growth in the Defence (56%), Mobility (19%) and Minsait (12%) divisions. Operating margin increased to 9.3% from 8.3% and free cash flow was €61m compared to €27m a year ago due to higher operating profitability and improved working capital. Finally, EPS increased 42% year-on-year in Q1. Overall, these results continue to reflect the positive growth and profitability dynamics of the company in recent quarters.

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