Indra reports 2022 net profit up 20% to 172 million euros and raises the dividend
Indra delivered a solid 2022, posting a net profit of 172 million euros, a 20% increase from the previous year. This strong performance enabled the board to raise the dividend to 0.25 euros per share, up from 0.15 euros the year before. The company also confirmed a positive trajectory in its capital returns while maintaining a healthy balance sheet.
Group revenues rose 14% to 3,851 million euros, driven by sustained momentum across major business units. Minsait climbed 18% year over year, supported by a continuing digital services cycle, while Defense expanded by 6%, reflecting ongoing demand for strategic programs and dual-use technologies. The results were presented to the National Securities Market Commission (CNMV) on the latest financial update.
Indra’s gross operating profit, or EBITDA, reached 400 million euros, up 14.3%, while operating profit, EBIT, hit a record 300 million euros for the group. This profitability enhancement aligns with improved operating efficiency and a favorable mix across businesses, underscoring the strength of the portfolio and execution capabilities.
The recruitment portfolio also marked a record, totaling 6,309 million euros with a roughly 16% year-on-year increase, reflecting continued demand for talent and technology services across markets. The year closed with a workforce of 56,735 employees, an 8.9% rise from 2021. In Spain, the crew surpassed 30,000 workers, rising by more than 1,900 staff members as activity broadened domestically and internationally.
“Historical” exercise
Ignacio Mataix, CEO of Indra, described the year as a milestone for portfolio breadth and billing growth, noting double-digit gains in most segments. He highlighted the group’s outstanding commercial performance and the signing of the Future European Combat Air System (FCAS) program as pivotal milestones. Mataix emphasized that the results, together with a robust balance sheet, a high-quality and sizable portfolio, and a strong team, set an excellent foundation for strategic decisions and future growth.
According to the divisions, Transport and Defense together billed 1,335 million euros, contributing 10.3% more to EBITDA of 200 million euros after a 9% uplift in the last quarter. The firm also improved its operating margin by 0.9 percentage points, approaching 13%. Minsait, in its turn, posted 2,517 million euros in revenue, an 18% increase in reported terms, delivering a total EBITDA of 201 million euros. The margin for this division rose by one percentage point to 7.3%.
Dividend and financial position
Following a return of capital to shareholders in the prior year, Indra again declared a dividend of 0.25 euros per share for the current period, representing a 67% increase year over year. The payout date is scheduled for July 12. Strong cash generation further enabled the company to reduce net debt by 82%, bringing it down to 43 million euros.
Management presented a market outlook that anticipates revenue surpassing the 4,000 million euro threshold, with operating profits above 315 million euros and free cash flow exceeding 200 million euros in the coming years. This guidance reinforces confidence in continued expansion and sustained profitability across the group, supported by a diversified portfolio and disciplined financial management.
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