Indra Sistemas (IDR) Investor presentation summary

Strategic vision and business focus

• Aims to be a leading Spanish multinational in Defence & Aerospace and Advanced Digital Technologies, with a strong presence in over 140 countries and more than 62,000 employees.

• Strategic plan emphasizes growth in Defence, Space, Air Traffic Management, Mobility, and digital services (Minsait), with significant investments in R&D and talent.

• Expansion of industrial footprint and supply chain standardization to support increased production and delivery reliability.

• M&A activity focused on Defence & Aerospace, with recent acquisitions (Hispasat, Hisdesat, AERTEC) and divestments to streamline operations.

• ESG leadership recognized by top global indexes, with ambitious climate targets and consistent recognition as a top employer.

Financial performance and projections

• FY25 revenues reached €5.46bn (+12.7% YoY), EBITDA €636m (11.7% margin), and EBIT €517m (9.5% margin).

• Backlog surged to €16.1bn (+122%), order intake to €12.8bn (+139%), and free cash flow to €364m (+11%).

• Net debt increased to €583m, mainly due to acquisitions, with a net debt/EBITDA ratio of 1.0x.

• 2026 guidance updated: revenues >€7bn, EBIT >€700m, cumulative FCF >€900m for 2024–2026.

• Consistently exceeded financial targets since 2023, with strong growth in Defence and digital business lines.

Divisional highlights

• Defence: Backlog €11.3bn (+282%), order intake €8.2bn (+675%), revenues €1.4bn (+36%), with margins impacted by TESS consolidation.

• Air Traffic Management: Revenues €523m (+12%), order intake €726m (+24%), margins affected by project write-downs but strong global presence.

• Mobility: Revenues €398m (+10%), order intake €469m (+14%), margin improvements and notable international contracts.

• Minsait: Revenues €3.13bn (+5%), EBITDA margin 8.9%, with growth in public sector and energy, and margin acceleration in 2H'25.