- Order intake increased by +8% in 1H20 vs 1H19, pushed by the strong growth registered in Transport & Defence, reaching the backlog another historic high (€5,094m), implying +15% growth.
- Revenues fell -2% in local currency (-4% in reported terms) in 1H20, affected by the impact of covid. Revenues in the second quarter decreased -5% in local currency and -8% in reported terms.
- Operating Margin amounted to €43m in 1H20 vs €102m in 1H19 (equivalent to 2.9% operating margin vs 6.6% in 1H19) affected by the delays and the lower activity due to covid.
- 1H20 EBIT reached €-78m vs €79m in 1H19 (€-97m in 2Q20 vs €40m in 2Q19) affected by the delays and lower activity due to the covid, which has more impact in the second quarter, and by the impairments of intangible assets (€-95m).
- Cash generation in 1H20 improved in €+149m vs 1H19. Net Debt / EBITDA LTM ratio (excluding the impact of IFRS 16 and the impairments of intangible assets) up to 2.7x vs 2.4x in 1H19.
- Indra continued to strengthen its solid liquidity position during the quarter, and has more than €1,100m between cash and available lines as of June 30, 2020.
- Indra has launched a postcovid action plan to redirect investments and optimize costs to adapt to the structural changes of the business, which already include a negative impact on EBIT of €95 million in this quarter due to impairment of intangible assets. The estimated annual savings from 2021 onwards are €100m.
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