- Attributable profit set to grow between 18% and 22% in 2008
- Management expects a significant improvement in profitability, specifically an estimated EBIT margin of 11.3% to 11.5%
- International growth remains a strategic priority
Indra, Spain's leading IT company and one of the main players in Europe expects to post year-on-year revenue growth of between 8% and 10% in 2008. International expansion remains a strategic priority and revenues generated abroad are expected to outpace revenue growth in Spain.
Guidance for growth in the order intake is 9% to 10%. We expect growth in the order intake to outpace topline growth once again, further boosting the backlog.
Management is expecting significant growth in operating profitability, specifically an EBIT margin of between 11.3% and 11.5%, implying margin expansion of at least 1.3 percentage points since the integration of Azertia and Soluziona.
Finally, the company expects growth in attributable profit of between 18% and 22% over the FY07 figure.
Meeting these targets will enable Indra to cement its profile as a high growth, highly profitable company, as it continues to grow faster than the sector average and its main peers.
Faster international growth
In 2008, international growth will remain a cornerstone of the company’s growth strategy. The company aims to establish a leadership position in all its operating markets. Europe will remain Indra’s biggest international market, followed by Latin America where the company has an extensive presence with over 4,000 professionals. The US and Asian markets will also be important.
The company will continue to develop initiatives in 2008 designed to cement its ability to compete locally and globally as appropriate for each of the various businesses in which it competes.
2007 close
In anticipation of the definitive 2007 close, Indra can confirm that it has met all the targets set and previously announced for the year, specifically:
- Revenue growth of 11% on pro-forma 2006 consolidated revenues (€1.95bn) to €2.17bn.
- An EBIT margin of 11%, as projected, excluding one-off costs incurred in connection with the integration of Azertia and Soluziona.
- An order intake 8% higher than revenues at around €2.33bn, reinforcing the backlog, which will come in at around €2.26bn.
Reported attributable profit, for which no guidance had been given, will be around €148m.