Indra Sistemas Sa Ord

Good morning and welcome to our 2024 first half results presentation. I'm Ezequiel Nieto, Head of Investor Relations, and as usual, let me refer you to the disclaimer on slide number three that shows the legal framework under which this presentation must be considered. First, let me introduce the participants of this call. Omar Murtra, Executive Chairman of Indra, José Vicente de los Mossos, CEO of Indra, Antonio Mora, Chief Control Officer, and Luis Abril, Managing Director of Meansight. Marc, the floor is yours.

Thank you, Ezequiel.

Good morning to everybody. Welcome to this conference call in which we are pleased to present our results for the first half of 2024. I extend my thanks to all of you for your attendance. It is an honor for me to address you today in my capacity as Indra's executive chairman. The first half of 2024 has been important for INDRA, focused on setting us on the right implementation of our new strategic plan for 2024-2026, Leading the Future, unveiled in March of this year. That is our focus, execution. As defined in our strategic plan, Indra's vision is to become the Spanish multinational of reference in defense and aerospace and advanced digital technologies. Over the last three months, since the announcement of the plan, we have seen good progress, acting as a driver to build a path that will meet our leading the future strategic plan targets. Our double-digit growth in revenues, EBITDA, net income, and free cash flow compared to the first half of 2023 is, in our view, a good headline of our performance. Our increased operational profitability, evidenced by improved EBIT and EBITDA margins, demonstrate the impact of the actions and initiatives we have executed over the past months, some of which we will discuss today. The financial performance is a testament to the work we have made in each of Indra's businesses. In our efforts to develop a defense ecosystem around Indra, we follow a collaboration and cooperation strategy with stakeholders in the sector. As part of it, Indra invested in ITP in the third quarter of 2023 and has now received a 59.6 million euro dividend payment, representing the first returns on its investments. Please remember, ITP is not a financial investment for us. It is an industrial investment, but it has given us a good first return. In air traffic management, we're focused on maintaining our leadership position in Europe, Middle East, and Latin America, ultimately aiming to become the number one player globally, reinforcing our position in North America and Asia Pacific. We are making progress in these new priority geographies, North America and Asia Pacific, leveraging key collaborations to access major renovation programs. In MINSIGHT, we are working hard to evolve towards a digitally-focused portfolio, integrating capabilities in artificial intelligence, cloud, cybersecurity, and other high-potential technologies to establish an industry-leading offering. In fact, digital and solutions joint sales accounted for 50% of Mindsight sales. Integration of mobility into Mindsight, as laid out in our strategic plan, is set to further drive our digital-focused offering. Also worth highlighting are the advancements made over the last months in our technology roadmap. We are immersed in a process to identify the key future technologies, capabilities, and productions in which to invest. This initiative builds upon previous tech developments Indra has been working on, and its progress until 2030 will be closely monitored by a tech control tower. We're strengthening our organization with new appointments. We have recently appointed Miguel Fortez-Agarau, formerly Deputy CFO and Investment Director of the Nortia Group, as our new Chief Financial Officer, also joining INDRA's Executive Committee. Additionally, we are launching a new geographical organization, which our CEO will detail later on, resulting in the appointment of new regional directors. Latin America and South Europe will be led by Pedro Rodríguez Vega, previously in charge of Minsight's international business. Middle East will be headed by Luis Permuy Muñoz Rivero, who has been responsible for Indra's business in Asia, the Middle East and Africa since 2016. United States, United Kingdom and Northern Europe will be overseen by José Jacinto Monge Bravo, who joins the Indra Group. The rest of the world will be coordinated in an export model by Jose Luis Gasco, formerly responsible for the Asia Pacific region. Thank you for your attendance and attention. I will now give the floor to our CEO, Jose Vicente Los Mozos.