Indra's profits drop 4% to US$262mn in 2010

Tuesday, March 8, 2011

Spanish systems integrator Indra saw its annual net profits fall 4% to 189mn euros (US$262mn) during 2010, according to results released by the company.

According to Indra, the company has had to adjust its production structure, resulting in extra costs of 33mn euros. Without the extra costs, Indra said its net profit was up 10% during the year.

Total sales for Indra during 2010 grew 2% to 2.56bn euros. Orders received grew 12% to 2.9bn euros in 2010, while bookings reached 2.88bn euros, representing 7% growth over 2009.

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Indra's 2010 sales in Latin America grew 41% and accounted for 15% of total sales. According to Indra, international markets have become one of the company's main growth drivers in recent years. International sales grew 10% in 2010 and represented 40% of total sales.

For 2011, Indra said that domestic difficulties will remain an issue as they were last year, when sales slipped 3%, but that there are signs of recovery. Indra expects sales to grow more than 2% this year, with international markets continuing to grow and the domestic market falling slightly. The company also said it expects bookings to be higher.