Indra doubles profits amid massive rearmament
The Spanish defense and technology company earned €2.45 billion in the first half of the year.
BarcelonaThe current global arms race is pushing countries like Spain to increase their defense spending, prompted by both NATO demands and the European Commission (EC), which has already proposed multiplying the community defense budget by up to five times. While at the end of June, the technology company Indra, the leading Spanish defense company, now counts the State, through SEPI, as the largest shareholder with 28% of the share capital, announced first-half profits that are almost double those of last year. Indra has boosted its profits by 88.6% to €215 million. technological registered throughout last year.
This increase in profits, driven by a turnover of €2.45 billion, which represents 6.3% more than in the first six months of last year, is explained by the operational improvement and the specific impact of the increase on the financial results. armored vehicles for the Spanish Army, the company explained this Wednesday in a statement published by the National Securities Market Commission (CNMV). "Space and advanced technologies," said Indra's president, Ángel Escribano.
The partial sale of Minsait
The company's defense division, the largest business unit, contributed €518 million, representing a 16.14% increase compared to the same period last year. The air traffic division also registered an increase, in this case of 24.6%, to €258 million, while the mobility area contributed €172 million, the same figure as in the first half of 2024. This total represents €1.502 billion, representing the company's business.
Indra's management has long been seeking a buyer for part of this brand, dedicated to consulting, mobility, and information technology-related activities. However, the company is not willing to let a partner in at any price and is therefore awaiting a suitable offer. Specifically, Indra's CEO, José Vicente de los Mozos, said during the results presentation that the sale of Minsait's payments division—known as Nuek—is still underway, but will not happen this year.
