Indra's bet on renewing its leadership is starting to pay off. The first results under Ángel Simón as chairman and Josep Maria Recasens as chief executive officer —both Catalan entrepreneurs— paint a picture of prosperity for the Spanish Defence and Technology company: record-breaking revenue figures, historic order backlog and rising operating margins.

A first half of records

The numbers speak for themselves. During the first six months of the year, Indra has invoiced €3.179 billion, representing an increase of 29.7% compared to the same period last year. But what is truly striking is what is happening in the order backlog: it has reached €20.533 billion, practically doubling the figure from the first half of 2024.

Net new contracts have also surged, reaching €5.010 billion with an increase of 58.4%. These figures, as reported by abc.es, support the new management's strategy and allow the company to reaffirm its targets for the full year 2026.

Defence division leads growth

Although all business areas have contributed to the boost, the engine of this growth has been especially the Defence sector. This division already accounts for 31% of group sales and generates 52% of operating profit, establishing itself as Indra's most profitable pillar in a geopolitical context where investment in defence and security industry continues to grow.

This figure takes on particular relevance in Spain, where the consolidation of an internationally scaled defence industry is considered key to national technological sovereignty.

Net profit rising, healthier margins

Beyond revenue, Indra closes the half-year with net profit of €219 million, just above the €215 million from the previous year (+2.1%). However, the most relevant figure comes in ebitda —gross operating profit— which grew a solid 72% to €456 million. The operating margin also improved, reaching 10.7%.

Alliances and new strategic plan

Recasens used the results presentation to make the roadmap clear. The company will work intensively on a new strategic plan whose cornerstone will be excellence in execution: speed, quality and reliability. But, beyond the operational side, the chief executive officer stressed that Indra is pursuing solid alliances both at national and international level.

When asked about potential consolidation operations in the sector, Recasens was clear: "all corporate options are open". However, he stressed that he considers it crucial to establish strategic alliances, as in his view "there is no company on Earth" capable of facing current technological challenges alone. This openness to collaboration fits within Indra's stated objective of strengthening the Spanish Defence ecosystem and generating the scale necessary to compete in an increasingly demanding environment.

What is clear is that the new management duo has inherited —or generated— a moment of strength. Now it remains to maintain the pace and prove that these numbers are not a mirage but the beginning of a new era.