Indra improves its profitability (+14.6%) and accelerates its revenue growth (+19.4) in 3Q22

9M22 Order intake up +21.0% vs 9M21, with double-digit growth both in Minsait and in Transport & Defence.

Revenues in 9M22 grew +14.0% vs 9M21, mainly bolstered by Minsait (+19.0%). 3Q22 revenue growth accelerated to +19.4% vs 3Q21, with both divisions showing double-digit growth. FX contributed positively with €50m in 9M22 vs €-41m in 9M21.

9M22 EBIT reached €204m, +19% increase year-on-year (excluding capital gain from the sale of San Fernando´s facilities), thanks to the improvement of the Operating Margin in both divisions compared to 9M21.

T&D EBIT margin reached 11.3% and Minsait 5.8% in 9M22.

Free Cash Flow in 9M22 was €54m vs €5m in 9M21, bringing Net Debt/EBITDA ratio down to 0.6x compared to 1.7x in September 2021.