Indra soars on the stock market after presenting record revenues in 2023 and exceeds 3,000 million in capitalization

José M. Rodríguez Silva

Updated Wednesday, February 28, 2024-11:45

Indra

obtained a net profit of 206 million euros in 2023, which represents an

increase of 19.8% compared to the 172 million euros recorded the previous year

, and will distribute a dividend of 0.25 euros per share charged to the 2023 profits, the same shareholder remuneration as the previous year, according to the results presented by the company this Wednesday before the National Securities Market Commission (CNMV).

Likewise,

the company earned 4,343 million euros in 2023

, which represents an increase of 12.8% compared to the 3,851 million euros in 2022, according to

Europa Press.

Specifically, the turnover of the Transport and Defense division stood at 1,576 million euros, which represents an increase of 18.1% in relation to the 1,335 million euros in 2022, while Minsait, the technology subsidiary of the group, earned 2,767 million euros (+9.9% year-on-year).

Indra has explained that the income of the Transport and Defense division increased "due to the strong growth" of Defense and Security, which grew by 24% due to the greater contribution of the FCAS and Eurofighter projects, as well as the Air Traffic department. with a 25% increase due to "good performance" in India, Belgium and Senegal, as well as the inorganic contribution of the Selex division of ATM in the United States and Park Air.

By markets, Spain represented 50% of the company's turnover, while America accounted for 21%, Europe 19%, and the Asia, Middle East and Africa region 10%.

FORECASTS FOR 2024

Indra's forecasts for 2024 point to a revenue target of around 4,650 million euros - in local currency -, which is 7% more than the 4,343 million euros of the last year.

Likewise, it plans to close this year with an Ebit of around 400 million euros, that is, 15.3% more than the 347 million euros in 2023. However, the company's estimates for this year are based on a reduction in free cash flow to 250 million euros, which would be 19.9% ​​less than the 312 million euros in 2023.

In this context, the company will present its strategic plan for the coming years on March 6.

15 million for Mataix

The former CEO of Indra,

Ignacio Mataix

, who left the position on May 18 and was replaced by José Vicente de los Mozos,

received 15.5 million euros

in 2023, emoluments that include a remuneration of 5.19 million euros and shares valued at 10.28 million euros, according to the remuneration report sent by the company to the National Securities Market Commission (CNMV).

In this way, the 15.5 million euros that Mataix received multiplied by ten the 1.52 million euros he earned the previous year.

On the other hand, the current CEO of Indra, José Vicente de los Mozos, pocketed 1.14 million euros, of which 930,000 euros correspond to his cash remuneration and 199,000 euros to the gross profit of the shares he owns in the company. company.

Meanwhile, the president of Indra,

Marc Murtra

, received a total of 609,000 euros in 2023, of which 598,000 euros correspond to his cash remuneration (+2% year-on-year) and 11,000 euros to his remuneration "for other concepts."

However, the member of Indra's current board of directors who earned the most in 2023 was

Luis Abril

, who received emoluments of 5.97 million euros, almost seven times more than the 894,000 euros of the previous year.

The figure corresponds to a cash remuneration of 1.23 million euros (+41.6%), to which are added shares worth 4.7 million euros and a remuneration for "other concepts" of 34,000 euros .

In this way, the total remuneration of Indra's board of directors in 2023 stood at 24.88 million euros, which represents an increase of 2.6 times compared to the 9.37 million euros of the previous year.

Mataix's remuneration alone, which was increased by remuneration in shares after his departure, accounted for 62.3% of the total amount of emoluments of the Indra board of directors.