Indra Sistemas S.A.

Indra Sistemas is engaged in the design, development, manufacture, assembly, repair, and installation of computer software and applications. Through its subsidiaries, Co. is engaged in consulting, graphic design and multimedia, web design and marketing, internet development and electronic trade, systems integration and hosting geared business to business and business to consumer, as well as in internet financing and electronic marketing. Co. serves defense and security, transport and traffic, energy and industry, telecom and media, finance and insurance, and public administration and healthcare markets. Co. operates primarily in Europe, the United States, Canada, and Latin America.
  • TickerIDR
  • ISINES0118594417
  • ExchangeMadrid Stock Exchange
  • SectorSoftware & Computer Services
  • CountrySpain

Indra Sistemas Sa: 3 directors bought

Three Directors at Indra Sistemas Sa bought 48,200 shares at between 6.110EUR and 6.140EUR. The significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing ...

Andres Bolumburu

INDRA: 1H’20 RESULTS (ANÁLISIS BANCO SABADELL)

2Q'20 vs. 2Q'19 Results Sales: € 749 M (-7.6% vs. -6.9% BS(e) and -6.8% consensus); EBIT: € -97M (vs. € 40 M in 2Q’19 vs. € 2 M BS(e) and 18 M consensus); Net Profit: € -81 M (vs. € 16 M in 2Q’19 vs. € -7 M BS(e)). 1H'20 vs. 1H'19 Results Sales: € 1.5 Bn (-4.0% vs. -3.8% BS(e) and -3.8% consensus); EBIT: € -78M (vs. € 79 M in 2Q’19); Net Profit: € -75 M (vs. € 34 M in 2Q’19). The results came in below expectations, hit by Covid-19 (delays and lower commercial activity, with an impact of around € 62 M measured by IDR) and by impairments on intangible assets (€ 95 M, without impact on cash), al...

Andres Bolumburu

INDRA: RDOS. 1S’20 (ANÁLISIS BANCO SABADELL)

Rdos. 2T'20 vs 2T'19: Ventas: 749 M euros (-7,6% vs -6,9% BS(e) y -6,8% consenso); EBIT: -97M euros (vs 40 M euros en 2T’19 vs 2 M euros BS(e) y 18 M euros consenso); BDI: -81 M euros (vs 16 M euros en 2T’19 vs -7 M euros BS(e)). Rdos. 1S'20 vs 1S'19: Ventas: 1484 M euros (-4,0% vs -3,8% BS(e) y -3,8% consenso); EBIT: -78M euros (vs 79 M euros en 2T’19); BDI: -75 M euros (vs 34 M euros en 2T’19). Rdos. por debajo de lo esperado impactados por el Covid-19 (retrasos y menor actividad comercial, con impacto de c.62 M euros en EBIT) y por saneamiento de activos intangibles (95 M euros, sin impact...

Research Department

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 23 TO 30 OCTOBER 2019 (ANÁLISIS BANCO SABADELL)

European Portfolio We lower Volkswagen’s weight and raise that of Airbus. European High Yield Portfolio Air Liquide, Allianz, Daimler, SAP & Vivendi No changes this week. Spanish Recommended Portfolio No changes this week. 5-Stock Recommended Portfolio ACS, Caixabank, Cellnex, Ferrovial & Telefónica No changes this week. 5 High-Yield Stock Portfolio Iberdrola, Merlin, Repsol, Santander & Telefónica No changes this week. Mid&Small Recommended Portfolio Applus, CAF, Dominion, Enagás, Ence, Indra, Logista, Másmóvil, Sacyr & Unicaja No changes this week.

Jérôme VINERIER

Short term view - INDRA SISTEMAS : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €8.415. The background trend would be questioned should prices rise above €10.781.

Jérôme VINERIER

Analyse court terme - INDRA SISTEMAS : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 8,415 €. La tendance de fond serait remise en cause en cas de franchissement de 10,781 €.

Jérôme VINERIER

Analyse court terme - INDRA SISTEMAS : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 8,415 €, puis 7,620 €. Le franchissement de 10,781 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - INDRA SISTEMAS : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €8.415, then €7.620. Passing €10.781 would question the continuation of the fall.

Jérôme VINERIER

Analyse moyen terme - INDRA SISTEMAS : Le mouvement se poursuit.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 8,400 €, puis 7,460 €. Le franchissement de 12,400 € remettrait en cause la suite de la baisse.

Indra Sistemas Sa: 3 directors bought

Three Directors at Indra Sistemas Sa bought 48,200 shares at between 6.110EUR and 6.140EUR. The significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing ...

Andres Bolumburu

INDRA: 1H’20 RESULTS (ANÁLISIS BANCO SABADELL)

2Q'20 vs. 2Q'19 Results Sales: € 749 M (-7.6% vs. -6.9% BS(e) and -6.8% consensus); EBIT: € -97M (vs. € 40 M in 2Q’19 vs. € 2 M BS(e) and 18 M consensus); Net Profit: € -81 M (vs. € 16 M in 2Q’19 vs. € -7 M BS(e)). 1H'20 vs. 1H'19 Results Sales: € 1.5 Bn (-4.0% vs. -3.8% BS(e) and -3.8% consensus); EBIT: € -78M (vs. € 79 M in 2Q’19); Net Profit: € -75 M (vs. € 34 M in 2Q’19). The results came in below expectations, hit by Covid-19 (delays and lower commercial activity, with an impact of around € 62 M measured by IDR) and by impairments on intangible assets (€ 95 M, without impact on cash), al...

Andres Bolumburu

INDRA: RDOS. 1S’20 (ANÁLISIS BANCO SABADELL)

Rdos. 2T'20 vs 2T'19: Ventas: 749 M euros (-7,6% vs -6,9% BS(e) y -6,8% consenso); EBIT: -97M euros (vs 40 M euros en 2T’19 vs 2 M euros BS(e) y 18 M euros consenso); BDI: -81 M euros (vs 16 M euros en 2T’19 vs -7 M euros BS(e)). Rdos. 1S'20 vs 1S'19: Ventas: 1484 M euros (-4,0% vs -3,8% BS(e) y -3,8% consenso); EBIT: -78M euros (vs 79 M euros en 2T’19); BDI: -75 M euros (vs 34 M euros en 2T’19). Rdos. por debajo de lo esperado impactados por el Covid-19 (retrasos y menor actividad comercial, con impacto de c.62 M euros en EBIT) y por saneamiento de activos intangibles (95 M euros, sin impact...

Charles Lepetitpas ...
  • Nicolas David

Indra Sistemas : Disappointing Q2 2020 results, leading to a massive savings plan

>Q2 growth broadly in line with expectations - Indra's Q2 2020 results, reported yesterday after the close, came in at € 749m, 2% ahead of expectations (vs css: € 737m; ODDO BHF: € 746m). Q2 organic growth came in at -6.6%, in line with our expectations (vs ODDO BHF: -6.4% org.) with a slightly less pronounced decline than expected in T&D, at -8% org (vs ODDO BHF: -11.6% organic; Q1 20: -6.8% org). In contrast, Indra posted organic growth of around -5.7%, slightly sho...

Research Department

INFORME DIARIO 30 JULIO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: ARCELOR, BBVA, CAF, ENCE, FERROVIAL, IBERDROLA, INDRA, MASMOVIL, MERLIN, NEINOR, NH HOTELES EUROPA: AIRBUS, AIR LIQUIDE, AB INVEB, AIRBUS, SAFRAN, TOTAL, VOLKSWAGEN El Ibex de nuevo a la cola de Europa Jornada relativamente tranquila en la mayoría de los índices europeos salvo el Ibex, lastrada por los bancos y los valores turísticos. Así, dentro del Euro STOXX encabezaron las ganancias Inmobiliario y Retail frente Bancos y Autos que registraron las mayores caídas. Por el lado macro, en EE.UU. los inventarios mayoristas cayeron más de lo esperad...

Charles Lepetitpas ...
  • Nicolas David

Indra Sistemas : Résultats T2 2020 décevants, entrainant un plan d’économies massif

>Croissance T2 globalement en ligne avec les attentes - Indra a publié hier après Bourse un CA T2 2020 de 749 M€, 2% supérieur aux attentes (vs Css : 737 M€ ; ODDO BHF : 746 M€). La croissance org T2 ressort à -6.6% en ligne avec nos attentes (vs ODDO BHF : -6.4% org.) avec une baisse de T&D un peu moins forte que nous l'anticipions, à -8% org (vs ODDO BHF : -11.6% org. ; T1 20 : -6.8% org). A l’inverse, Indra affiche une croissance org. de c. -5.7% légèrement inférie...

Tony Lebon

Different risk profiles, two Buy opportunities in the convertible bonds space

We discuss in this report the key topics to have in mind when analyzing services companies such as Econocom and Indra Sistemas in the context of the Covid-19 crisis: cyclicality of the various activities, geographical mix, variable vs fixed costs, temporary variabilization of the cost base thanks to partial unemployment (with different mechanisms depending on the jurisdictions), liquidity and debt maturity profile, questions around non-recourse factoring, shareholding structure, ...

Tony Lebon

Different risk profiles, two Buy opportunities in the convertible bonds space

We discuss in the report the key topics to have in mind when analyzing services companies such as Econocom and Indra Sistemas in the context of the Covid-19 crisis: cyclicality of the various activities, geographical mix, variable vs fixed costs, temporary variabilization of the cost base thanks to partial unemployment (with different mechanisms depending on the jurisdictions), liquidity and debt maturity profile, questions around non-recourse factoring, shareholding structure, a...

Tony Lebon

Indra Sistemas : ITP Aero: what potential impact on the credit side?

Indra Sistemas confirmed last Friday that conversations are being held with Rolls-Royce aimed at exploring the potential acquisition by the group of a majority stake in Rolls-Royce’s Spanish subsidiary ITP Aero. In a separate statement, the group added that any potential deal would be financed through a combination of debt and a rights issue. - If the group decides to acquire a 75% stake in ITP Aero for EUR 1bn, half of which financed by shares, the pro forma reported leverage woul...

Tony Lebon

Indra Sistemas : ITP Aero: what potential impact on the credit side?

Indra Sistemas confirmed last Friday that conversations are being held with Rolls-Royce aimed at exploring the potential acquisition by the group of a majority stake in Rolls-Royce’s Spanish subsidiary ITP Aero. In a separate statement, the group added that any potential deal would be financed through a combination of debt and a rights issue. - If the group decides to acquire a 75% stake in ITP Aero for EUR 1bn, half of which financed by shares, the pro forma reported leverage woul...

Jean-Rene Meduri

INDRA- 2Q18 Comments

Salini reported 1H18 results with a slight profitability decrease at constant FX and excluding a 1H17 positive one-off item. Net debt increased on the back of working capital seasonality. We expect the likely disposal of the plants & paving division (P&P) to improve Salini’s financial structure.

Baptiste Lebacq

ODDO BHF Small & MIDCAP MORNING NEWS - 07/23/2020

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Baptiste Lebacq

ODDO BHF Small & MIDCAP MORNING NEWS - 23/07/2020

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Anis Zgaya ...
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • Hela Zarrouk
  • Jean-François Granjon
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas David
  • Oussema Denguir
  • Salma Bouraoui
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 05/12/2020

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INDRA SISTEMAS SA sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of INDRA SISTEMAS SA (ES), active in the Computer Services industry. As regards its fundamental valuation, the title now shows 2 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date February 25, 2020, the closing price was EUR 9.61 and its target price was estimated at EUR 8.73.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Indra Sistemas - AGM 24 June 2020

Concerns arise over the level of independence on the Board: 53.8% according to Indra and 46.2% per ECGS guidelines, since we do not consider Ms. Aquerreta, new nominee, as independent due to her recent affiliation with Deloitte, auditor since 2016. Hence, we recommend shareholders to oppose her appointment in item 5.1.In  item 8, shareholders are called to approve the 2020-2022 Remuneration Policy. ECGS welcomes the Company's efforts to align executive remuneration with the assessment of the impact of COVID-19. However, we regret that 40% of the annual bonus depends on qualitative assessments ...

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