Q3 2024 Indra Sistemas SA Earnings Call Transcript
Key Points
- Indra Sistemas SA (ISMAY) reported significant financial growth with EBITDA up by 21%, EBIT by 27%, and net income by 26% compared to the previous year.
- The company's backlog has surpassed EUR7 billion, indicating strong client trust and a robust pipeline.
- Net debt has been significantly reduced to EUR70 million from EUR233 million the previous year.
- The company has made strategic acquisitions, including TESS Defense and MQA, to bolster its capabilities in defense and digital solutions.
- Indra Sistemas SA (ISMAY) is expanding its global presence, particularly in North America and APAC, with new contracts in air traffic management.
- The Minsait division experienced slower revenue growth in Q3 compared to previous quarters, partly due to the absence of election-related business.
- There is uncertainty in the business environment, which could impact future growth, particularly in the Minsait division.
- The integration and expected revenue contribution from TESS Defense remain unclear, with no immediate impact on EBIT or EBITDA levels.
- The company faces challenges in maintaining profitability in newly acquired businesses like Selex and Park Air due to lower initial margins.
- Currency fluctuations, particularly in Argentina, Brazil, and Mexico, have impacted financial results, contributing to a EUR25 million forex impact.
(Music Playing) You see them--. Thank you very much. Good morning. I'm Ezequiel Nieto Investor Relations. And as usual, let me refer you to this claiming on slide number three, that shows the legal framework under which this presentation must be considered. First of all, let me introduce the participants of this call, Jose vicente Los mozos, CEO of Indra; Luis Abril, Managing Director of Minsait, and Miguel Forteza, our Chief Financial Officer, Jose vicente. The floor is Yours.
Thank you. Good morning, everybody and thank you for being with us this morning for our nine month 24 result presentation. First of all, I want to welcome our new CFO Miguel Forteza who joined us last September.
I'm pleased to report that we have delivered a set of results that prove that we are on track to meet our goals, our revenue, EBITDA, EBIT and net income all increased at double the rate. In fact,
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