Nearshore Americas
Indra Sistemas

Europe’s Indra Sistemas Posts 82% Profit for 2017

European technology services firm Indra Sistemas has posted 127 million euros (US$157 million) in net profit for 2017, an increase of a stunning 82% over the previous year.

The sharp surge in profit was largely due to the rising sales at Tecnocom, a Spanish computer services firm that Indra acquired in May last year for US$324 million. Tecnocom contributed US$316 million to the company’s sales figures.

Considering its financial report, Indra’s sales in Latin America increased 16% in the fourth quarter of last year.

This is a huge turnaround for Indra since it laid off thousands of staff in 2016 in an effort to make annual savings of up to US$248 million.

The IT firm, which has extensive operations across Latin America, is a priceless asset for Spain because it supplies technology to the nation’s state-run defense departments.

Founded in 1993 with the merger of four companies (Inisel, CESELSA, Eritel, and Disel), Indra provides technology services to a wide range of sectors, including transport and traffic, energy and industry, government and healthcare, financial services, security and defense, telecommunications, and media.

It grew into a large player in the Latin American IT sector when it acquired a 100% holding in Politec, one of the most prominent IT companies in Brazil.

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Today, Latin America represents more than 30% of Indra’s revenue, and the company is said to have employed 15,000 people in the region, where it runs eight software labs and 17 centers of excellence.

Narayan Ammachchi

News Editor for Nearshore Americas, Narayan Ammachchi is a career journalist with a decade of experience in politics and international business. He works out of his base in the Indian Silicon City of Bangalore.

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