European Event-Driven Analyst

Jesus Rodriguez Aguilar

Jesús is an Insight Provider (Event-driven) on the Smartkarma network, where he looks across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations. He has served as Economic and Business Advisor at the Spanish Congress in Madrid. Prior to that, he has worked in the City of London: as a Credit Analyst at Bloomberg; Event-driven associate at former boutique European Research; and doubled as Special Situations and Equity-linked VP (convertible bonds) at Merrill Lynch. Jesús has an MBA from the London Business School, a BA (Hons.) degree in Economics from the Complutense University in Madrid, and a BA (Hons.) in Law from U.N.E.D., also in Madrid.

Building the Arsenal: Indra’s Possible Merger with EM&E

Event-Driven

<ul>
<li>Indra is shifting to a pure-play defence and space company, divesting from IT services (Minsait) to achieve higher valuation multiples in line with aerospace and defence peers.</li>
<li>Hispasat and Hisdesat acquisition will generate €400 million in revenue and €190 million EBITDA by 2026, with synergies reaching €50-70 million EBITDA by 2030.</li>
<li>Indra’s valuation could rise 40-60% by 2026, as defence and space grow to 65% of revenue, increasing EV/EBITDA multiples from ~7x to 10-12x.</li>
</ul>


Indra is shifting to a pure-play defence and space company, divesting from IT services (Minsait) to achieve higher valuation multiples in line with aerospace and defence peers.
Hispasat and Hisdesat acquisition will generate €400 million in revenue and €190 million EBITDA by 2026, with synergies reaching €50-70 million EBITDA by 2030.
Indra’s valuation could rise 40-60% by 2026, as defence and space grow to 65% of revenue, increasing EV/EBITDA multiples from ~7x to 10-12x.


Indra’s Transformation into a Pure-Play Defence and Space Company

Indra Sistemas Sa

Indra’s Transformation into a Pure-Play Defence and Space Company