Indra Sistemas : Guidance pointing to an attractive recovery in 2021
>Organic decline of just -1% in Q4 - After trading yesterday, Indra reported Q4 sales of € 890m, in line with forecasts (consensus: € 883.3m, ODDO BHF: € 886m). Organic growth was -1.2%, slightly ahead of our forecast (ODDO BHF: -2.1%) and showing a huge improvement relative to Q3 2020 (-7.1% org.) thanks to a return to growth in the T&D division to +3% y/y org. (ODDO BHF: 2.9% y/y org), driven surprisingly by the Transport & Traffic business (+6% org) and not by Def...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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