Indra sees earnings rise

08 November 2017

Indra’s net profits jumped by 76% to EUR85 million (USD99 million) in the first nine months of 2017 as the partly state-owned Spanish group achieved sales that were 7.8% higher at EUR2.1 billion.

New orders also rose by 13% over the same period of 2016, at the same rate as EBITDA, which reached EUR171 million, boosted by the recent takeover of telecoms company Tecnocom.

While its workforce in Spain grew by 30%, mainly due to the addition of Tecnocom’s employees, their numbers fell by 28% in the Americas – equivalent to more than 4,370 workers, “mainly due to the decline in certain labour-intensive projects in Latin American subsidiaries”, according to a company statement released on 8 November.

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