We financially stripped... Indra

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Integral service around a transaction
BY : Diego GutiérrezMarch Fri, 2018

We analyse the main financial variables of the 2017 financial year for the Spanish multinational Indra, one of the leading global technology and consulting companies. We also take a look at the main financial acquisitions it has carried out in recent years.

We analyse the main financial variables of the 2017 financial year for the Spanish multinational Indra, one of the leading global technology and consulting companies. We also take a look at the main acquisitions it has made in recent years.

About Indra

Indra is a leading global technology and consulting company, the world's leading provider of proprietary solutions in specific segments of the Transport and Defence markets, and the leading Information Technology company in Spain and Latin America.

Specifically, the Spanish multinational is a world leader in the development of integral technological solutions in the following fields:

  • Defence and Security.
  • Transport and Traffic.
  • Energy and Industry.
  • Telecommunications and Media.
  • Financial services.
  • Public administrations.
  • Health.
  • Digital Transformation, through its Minsait unit.

Indra's revenue distribution by vertical markets

Indra Corporate Finance Analysis


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BrainlyBrainly is an online e-learning and social education platform that allows its users to help each other with school work problems.Poland$14MOct 2017
OrnikarOrnikar is the first French online driving school.France€10MMar 2018 is a user-to-user microlearning platform for companies and startups.United Kingdom$5,5MFeb 2017


Babylon HealthBabylon Health offers an accessible and affordable health service in the hands of people all over the world.United Kingdom$60MApr 2017
Pharmacy2UPharmacy2U is the UK's leading online pharmacy, which also provides a confidential online private doctor service.United Kingdom£40MMar 2018
Ada HealthAda Health offers a new approach to personalised health, backed by sophisticated artificial intelligence technology.Germany€40MOct 2017
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The Spanish multinational's revenue, EBIT and net profit grew by 11%, 21% and 62% respectively in 2017, thanks to the contribution of Tecnocom following its acquisition and Indra's organic growth in the year.

Indra ex Tecnocom's revenues, EBIT and net profit also increased in 2017: by 2%, 23% and 88% respectively, due to the contribution of Public Administrations & Healthcare (due to the Elections business), Energy & Industry (due to better dynamics in the Oil & Gas sector), as well as the Air Traffic (ATM) business.

Moreover, EBITDA in 2017 grew by 16% year-on-year to €266M. The EBITDA margin stood at 8.8% in 2017 (9.4% excluding Tecnocom restructuring costs), slightly higher than the 8.5% of the previous year.

Net debt decreased to €588M, compared to €680M in September 2017, mainly due to the acquisitions of Tecnocom, Paradigma and GTA (€248M) and the consolidation of its debt (€10M). The leverage level amounted to 2.2x in September 2017.
EBITDA for the last 12 months, more than offsetting the impact of the acquisitions in the year. Excluding the integration of the acquired companies, Net Debt would have been reduced to €309m and operating leverage to 1.2x (2.3x in December 2016).


Latest Indra acquisitions


BENEFICIARIESSpanish companies.
PURPOSE OF THE PROGRAMMEAid for international market-oriented business projects presented by a single Spanish company within an international consortium. These projects may include both industrial research and experimental development activities.
CHARACTERISTICS OF THE AID- Duration: The duration of these projects may be from 12 to 36 months, starting in 2018.
- Budget: The minimum eligible budget is €150,000.
- Typology: Individual R&D projects.
- Legal nature: Grant.
TYPES OF AIDThe maximum grant amount per project is €400,000, with the following limits:
- For small enterprises, up to 50% of the approved bankable budget.
- For medium-sized enterprises, up to 40% of the approved bankable budget.
- For large companies, up to 30% of the approved bankable budget.

Receipt of aid will be incompatible with any other grant or aid for the same project.
- The call will be open from 7 May to 5 June 2018.
INFORMATION+34 946 42 41 42
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