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Indra Sistemas (IDR) investor relations material
Indra Sistemas Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Backlog grew 35% and order intake rose 20% year-over-year, with revenue up 6% and net profit up 58%, partly due to the TESS consolidation and operational improvements.
Strategic focus on Aerospace and Defense, with significant acquisitions (TESS, Airtech D.A.S., Hispasat, Isdesat, AERTEC) and expansion of industrial footprint in Spain and the US.
Workforce increased by 5% year-over-year, with Defense headcount up 35% and 3,000 new hires toward a 2026 target of 5,000.
The group completed the first phase of its strategic plan a year ahead of schedule, surpassing 2025 targets and reaffirming 2025 and 2026 financial guidance.
Share price has tripled since March 2024, with market capitalization reaching €9 billion.
Financial highlights
9M25 revenues reached €3,611m (+6% YoY), EBITDA €405m (+10% YoY, margin 11.2%), EBIT €319m (+10% YoY, margin 8.8%), and net profit €291m (+58% YoY).
Free cash flow for 9M25 was €57m, down from €94m YoY, due to higher working capital needs and increased investment in defense.
Net debt stood at €114m (vs. net cash of €86m at end-2024), with a net debt/EBITDA ratio of 0.2x.
Cash position of €604m and €790m in available credit lines; gross financial debt at €717m.
Cost of gross debt reduced to 3.2%, with average debt maturity extended to 3.2 years.
Outlook and guidance
On track to achieve or exceed 2025 and 2026 financial targets, with revenue, EBITDA, and EBIT close to guidance.
Ambition to reach €10 billion in revenue before 2030, with potential to achieve this by 2028.
Free cash flow expected to exceed €300 million for full year 2025.
Defense backlog expected to surpass €10bn in 2026, supported by major contract wins and pre-financing.
Capital Markets Day in Q2 2026 will outline the next phase of the strategic plan.
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