Indra has detailed today to the National Securities Market Commission (CNMV) the conditions of the purchase operation of 89.68% of Hispasat, the Satellite Services operator of Redeia, for 725 million euros. The market received the news with falls greater than 2% in a morning marked by the forts but, after ten in the morning, the setback is aggravated above 4% and places Indra as the worst of the Ibex next to Arcelor.
First of this Monday, the company has launched a presentation in which it ensures that the integration of Hispasat and Hisdesat in Indra will generate synergies of between 20 and 30 million euros already in 2026. These synergies could climb up to 50 or 70 Millions in 2030. With all the above, Indra expects Hispasat to contribute 400 million euros in revenue, which translates into 190 million euros of gross exploitation result (EBITDA) and 50 million euros of net result (EBIT). His CEO, José Vicente de los Mozos, has reiterated after the operation that the Indra Space Division can reach 1,000 million income in 2030.
In this way, the company reaffirms its objectives of the Strategic Plan 2024-2026 that predicted revenues of more than 6,000 million euros and an increase in the EBITDA of 12%, to exceed 750 million at the end of next year. It also awaits an EBIT of 600 million, 10% more.
Indra tries to convince the benefits of this acquisition. Some investors had shown certain repairs to the purchase when considering that it would not generate value for the firm. Indra fell 3.75% on January 23, after this newspaper revealed that the operation would be executed imminently.
The company acquires the Spanish satellite manager at a time of high competition, after great millionaires such as Elon Musk or Jeff Bezos have opted for this sector. In addition, Hispasat comparable, such as the French Eutelsat, have suffered a strong deterioration in the stock market in recent years.
Faced with this, Indra wants to convince the market that the operation is positive. “The integration of Hispasat and the future consolidation of Hisdesat also provides important synergies for the growth of the operations and income of Indra Group. From the operational point of view, integration allows synergies to standardize an important part of the elements of the operations that Indra Space performs, taking advantage of the capacities end-to-end of the Newco of Space ”details the company in a statement.
“Through the standardization of elements such as airplane, links between satellites and other elements, Indra Space will expedite production and achieve industrialized manufacturing on scale. This approach takes advantage of Indra’s industrial experience to deal with the growing demand for miniaturized satellites and positions Indra Space at the forefront of satellite technology of the future, ”adds the Ibex-35 company.
“The acquisition responds to Indra Group’s objective to ensure control of communications in space, with increasing importance in both civil and military world. After taking 100% of Deimos in 2024, Indra Group now adds the capacities of Hispasat and Hisdesat to the development of their Newco Space, which will be called Indra Space, ”explains the defense and technology firm.
“The ambition of Indra Group is to reach a relevant market share in the Spanish and European space sector. First, it aims to increase its presence in key programs to become a European Tier-1. It is already positioned in important initiatives such as IRIS2, Galileo, Egnos and Copernicus, and has the ambition to expand to future opportunities such as spatial surveillance, Leo PNT and the next -generation land observation programs, ”adds Indra.
while the remaining 10.32% remains in the hands of, on the one hand, the State Society of Industrial Partys (SEPI), which has 7.41% of the capital, and the Center for Technological and Industrial Development (CDTI) , which holds 2.91%. The company has ensured financing of 700 million euros for the operation, the rest will be covered with the existing box.
For his part, the Minister of Economy, Commerce and Company, Carlos Corpora, has considered a “very good news for Spain” on Monday, the purchase of 89.68% of Hispasat by Indra, since it reinforces “a strategic company in A key sector forward ”, such as industrial technology in the field of defense.
“I believe that we must also be happy and hopeful that we can have another leading company also in this area,” said body in statements to RNE collected by Europa Press.
