INDRA SISTEMAS 3Q16 Results
​Spanish IT firm, Indra held a conference call yesterday evening to discuss 3Q16 results. Revenue was down 5% yoy at constant currency rate to €619m while adjusted EBITDA was up 16% to €50m i.e. an 8.1% margin (+155bps vs. 3Q15). The stock lost more than 10% as Indra missed market expectations due to delays in some projects as well as the loss of a significant contract with Vodafone. In addition, management remained very elusive in terms of guidance.
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.
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