Indra Group's General Shareholders' Meeting ratifies Ángel Escribano as Executive Chairman
- Indra, a driving force in the defence ecosystem
- Growing ambition of the Leading the Future Plan
- 2025 objectives
Indra Group's Ordinary General Shareholders' Meeting, held at the company's headquarters in Alcobendas, Madrid, has ratified and re-elected Ángel Escribano as the company's executive chairman, with the support of a large majority of 98.49% of shareholders, which is a vote of confidence in his management over the last five months at the helm of the company and the strong momentum he has given to its transformation.
The shareholders present or represented at the Meeting approved the group's 2024 annual accounts, management report and sustainability report, as well as the payment of a gross dividend of twenty-five euro cents (0.25 euros) per share from last year's profits, which will be paid on 10 July.
Deloitte Auditores will continue for another year as the auditor of the company and its consolidated group and verifier of sustainability information for 2025, while PriceWaterHouseCoopers Auditores will become the auditor for the financial years 2026, 2027 and 2028, following the support of the shareholders.
The General Meeting also approved the management of the Board of Directors in 2024, as well as the appointment of Eva Fernández Góngora and Oriol Piña Salomó as independent directors, and the re-election as proprietary directors of Jokin Aperribay, representing SAPA Placencia, and Antonio Cuevas and Miguel Sebastián, as members of SEPI. The Board of Directors now has fifty per cent independent directors and complies with the objectives of equal representation and balanced presence of women and men, established in Organic Law 2/2024 of 1 August.
Similarly, the shareholders have approved the amendment of Article 2 of the Articles of Association in order to incorporate more detail on the activities currently carried out by Indra and to complement those that, in execution of the Strategic Plan, Indra will develop, directly or indirectly, in the future, such as the design, engineering, development, manufacture and marketing of military land vehicles, aerial and space devices or vehicles, among others.
Indra, a driving force in the defence ecosystem
'We are the driving force behind the industry and we must be the leading Spanish company with weight, voice and projection in the new world order in which Europe's foreign policy, security and defence - now more than ever - seek to play a leading and decisive role in the new international balance. Indra works every day to drive the industrial ecosystem, pioneering technology, research and production with the highest quality standards,' emphasised the Indra Group's executive chairman at the start of his speech to shareholders.
Ángel Escribano detailed the priority lines of action that structure the company's ‘growth ambition’ and with which it will be ‘the driving force of the industry’ through Indra Space, Indra Land Vehicles and IndraMind, ‘which will become a sovereign platform of reference, capable of competing with the major global players, strengthening European sovereignty and security in cybersecurity and AI’.
The executive chairman also highlighted in his speech the creation of Indra Weapons & Ammunition to become ‘the Spanish national prime contractor in intelligent weapon systems, contributing to the development of a more autonomous and competitive defence industrial base in Spain and Europe’. To this end, Indra aims to build a high-tech offering based on promoting guidance capabilities, unmanned systems such as loitering munitions, directed energy and laser effectors; accelerating the anti-drone systems business; and integrating self-defence systems into platforms.
'I am convinced that this is Indra's moment and that together we can build a stronger, more competitive and more dynamic Indra with a vision focused on global leadership. We have a robust and well-articulated roadmap, market confidence, differentiated technological capabilities and, above all, the best team, with a deep commitment to the company's purpose and a clear mission to contribute to our customers and to Spain,' concluded Ángel Escribano.
Growing ambition of the Leading the Future Plan
For his part, Indra Group CEO José Vicente de los Mozos highlighted during his speech at the Shareholders' Meeting that 2024 and the first months of 2025 have been key for the rollout of the Leading the Future Strategic Plan, whose ‘ambition has been increased with the arrival of the new chairman and is now fully incorporated into the organisation.’ ‘Over the past few months, we have redefined our priorities, refocused investments and activated structural changes that better position us to compete and grow,’ he said.
The CEO detailed the priorities for 2025, which include strengthening the focus on aerospace and defence with the launch of two new businesses, Indra Land Vehicles and Indra Weapons & Ammunition; completing the integration of Indra Space; continuing the transformation of Minsait; and boosting the IndraMind business.
Regarding possible mergers and acquisitions, De los Mozos stated that Indra Group ‘will continue to move forward with its portfolio rotation, continuing the strategy begun in 2024, when we integrated eight companies into the group. We will continue to analyse companies that can provide us with new skills, integration into strategic markets and acceleration of industrialisation.’
According to the CEO of Indra Group, ‘another priority will be the rollout of our industrial plan to strengthen our operational autonomy, optimise costs, reduce lead times and guarantee delivery, with the ultimate goal of ensuring the sovereignty of Spain and Europe.’
To support these priorities, Indra Group is implementing a new organisation, with six new additions to the group's management committee, ‘five of them through internal promotion, which speaks to the good health of our internal talent’.
Both the executive chairman and the CEO of Indra Group have expressed their gratitude to all Indra employees for their dedication and commitment and have highlighted their fundamental role in the company's success.
2025 objectives
Indra Group has confirmed its targets for 2025: sales of over 5.2 billion euros, representing growth of more than 7% compared to 2024; EBIT of over 490 million euros, representing 9.4% EBIT; and free cash flow of over 300 million euros. In addition, as explained by the CEO, ‘we have set ourselves the goal of doubling defence contracts throughout 2025 compared to 2024, which would take us to over 2 billion euros’.
