Indra Closes 2010 with Net Profit of EUR 189 M

As indicated by the Company on 24 January when it unveiled its 2011 guidance, in 2010 Indra met all the targets announced at the beginning of last year. The strength of the Group’s performance outside Spain in terms of revenue and order intake is particularly noteworthy:

Revenue rose 2% to EUR 2.6bn, within the target range announced at the beginning of the year. Revenue in the international markets rose 10% and represented 40% of the total, while revenue in the domestic market was down 3%.

Order intake in 2010 rose 7% to EUR 2.8 bn, topping the initial target of 5%.

The order backlog expanded by 12% to EUR 2.9bn at 31 December 2010, 1.14x revenue for the year and higher than the year-earlier figure.

The recurring EBIT margin (i.e. EBIT before one-off expenses/revenue) was 11.2%, in line with the target of defending the 2009 margin.

The Company has delivered these targets despite having to tackle especially challenging market conditions which, as it advanced at the beginning of last year, required capacity cuts entailing non-recurring expenditure of EUR 33M.

Extraordinary costs recognised cover all the measures deemed necessary by the Company; no further measures are expected to be adopted in 2011.

As a result, 2010 net profit amounted to EUR 189M, 4% lower than in 2009. Stripping out these non-recurring expenses, net profit would have risen by more than 10%.

Source: Indra


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