Indra segregates its space business into a subsidiary

The group wants it to be “the cornerstone that brings together activities in the field of space business in the coming years.”

Indra ‘s board of directors approved this Monday the segregation of its space business unit to later integrate its activities into a newly created limited liability company called Indra Espacio and which will be “fully owned” by the former .

According to the statement sent to the National Securities Market Commission (CNMV), the segregation is configured as a first phase within the framework of Indra’s final objective of creating an entity that will be “the cornerstone that brings together the activities in the coming years.” in the field of space business” , in line with the provisions of its Strategic Plan 2024-2030.

Furthermore, the firm has explained that, given that the beneficiary company will be newly created and will be fully owned directly by Indra, the spin-off will be carried out in accordance with the simplified procedure provided for in articles 71 and 53 of Royal Decree-Law 5/2023. , of June 28, transposing, among others, European Union directives on structural modifications of commercial companies, by reference to the provisions of articles 63 and 56 of said regulation.

However, the operation must be submitted to a vote at the ordinary general meeting of shareholders , whose date of celebration and call will be announced by the board of directors in accordance with the legislation and internal regulations of Indra.

Strategic plan

Indra already announced on March 6 through its new ‘Leading the Future’ plan that it expected to invoice 6,000 million euros in 2026 and reach a business volume of 10,000 million euros in 2030, a figure that is more than double that of the 4,343 million euros that came in last year.

In this context, the company anticipated a new structure of its areas of activity, currently composed of the departments of Defense, Air Traffic Management (ATM), Mobility and Minsait (the company’s technological subsidiary).

Indra will change this structure and will now have the areas of Defense, Air Traffic Management, Space, Minsait (which will include Mobility) and “new industrial businesses” , which have yet to be defined.

Thus, the company indicated that it would include new partners in Minsait to increase its autonomy and also that it would create a new subsidiary dedicated to the space sector . As for this new company, its creation would take place between 2024 and 2026 to achieve a turnover of around 1,000 million euros in 2030.

On the other hand, the company’s forecasts aim to achieve an operating margin of 12% in 2026 and 14% in 2030 and a net operating profit margin (Ebit) of 10% in 2026 and 12% in 2030. 2023 Indra’s operating margin was 10.3% and the Ebit margin was 8%.

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