Indra - Decent 1Q18, guidance reiterated
Indra posted decent 1Q18 results. Revenue was up by 12% yoy to €714m (but flattish on a like-for-like basis) boosted by strong growth in the IT segment (64% of total revenue) due to the acquisition of Tecnocom in April 2017. Topline performance (-4% yoy) in the most margin accretive segment – Transport and Defense (36% of total revenue) – was a bit
disappointing because of delays in some projects in transport.
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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