- By vertical, it is worth noting the positive contribution of revenues from Defense & Security (+11%) and Financial Services (+9%). By region, Europe (+16%) and Spain (+5%) are the geographies with the highest revenue expansion.
- EBITDA increased by +10% year-on-year to €48m. EBITDA margin stands at 7.5% in 1Q17, which compares to 6.9% in 1Q16.
- EBIT margin reached 5.2% (versus 4.6% in 1Q16) backed by the positive evolution of the profitability in the IT segment. IT EBIT margin increased to 0.2%, which compares to -1.2% in 1Q16. T&D EBIT margin remained unchanged at 12.3% in 1Q17 (vs 12.4% in 1Q16).
- Despite the early collection in 4Q16 of certain payments expected to cash in throughout the first months of 2017 (of around €80m), Free Cash Flow consolidates its positive performance in the quarter reaching €-5m.
- Net Debt is slightly up to €532m, versus €523m registered at the end of last year. Net Debt/EBITDA LTM remained unchanged to 2.3x, same level as the end of last year, and Average cost of gross debt down to 2.4% vs 2.8% in 1Q16
- Indra confirms the previously communicated indications (which not include Tecnocom) surrounding the expected evolution for 2017 of revenues, EBIT margin and Free Cash Flow pre-Working Capital.
- Tecnocom’s offer reached an acceptance of 97.2%. The transaction was closed on April 27th and Indra executed its forced sale for the remaining capital share. Indra has already started the integration process.
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