Spain's Indra sees revenue, profit soaring on European defence spending [Reuters]
RED ELECTRICA UNSP/ADR (RDEIY)
NASDAQ:AMEX Investor Relations:
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Source: Reuters
The company expects earnings before interest, taxes, depreciation and amortisation (EBITDA) to soar to more than 750 million euros ($814 million) in 2026 from 446 million euros in 2023, on a rise in revenue to 6 billion euros from 4.34 billion last year. It sees a further rise in revenue to 10 billion euros by 2030. Indra said increased spending by European countries on modernising defence systems, as well as the new wave of digitalisation led by artificial intelligence, cloud computing and cybersecurity would provide opportunities for growth. The radar systems manufacturer aims to grow within the European military sector, where it competes with the likes of France's Thales (TCFP.PA) , opens new tab and Italy's Leonardo (LDOF.MI) , opens new tab Indra will set up a new space company and include its mobility business in tech unit Minsait with the entry of strategic partners, Indra's Chief Executive Jose Vicente De los Mozos said while presenting the company's strategy to 2030.
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