Escribano M&E increases its stake in technology company Indra to 8%.

Escribano, a leading Spanish company in innovation and technology for defence and security, has increased its stake in Indra to 8%. The company, which was already Indra's second industrial partner after acquiring 3.4% of its shares last May, and which intends to continue growing within the listed company, has strengthened its position as a benchmark in the Spanish defence sector with an additional 4.6%. Escribano thus fulfils its objective of consolidating its presence in Indra to help promote and position the Defence Sector in Spain.
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Ángel Escribano (President) and Javier Escribano (CEO) (Picture source: Escribano M&E)

This is a strategic investment operation aimed at consolidating its business position, promoting the creation of new technologies, developing new capacities, and creating qualified jobs throughout Spain.

The operation will contribute to the development of current and future Defence programmes in which the company is involved, both for international and domestic markets. This is the case of its recent establishment in Cordoba, where it will invest 20 million euros in the production of new smart ammunition and rocket launcher technologies, creating more than 200 new highly qualified direct jobs, and it is not the only site chosen by Escribano to demonstrate its commitment to territorial cohesion.
Escribano, in figures (audited accounts by Ernst & Young, S.L.)

Escribano, founded in 1989, has stood out for its profitable growth, with an average annual growth rate of around 35% over the last 10 years, thanks to the vertical integration of its production capacity and the incorporation of its engineering departments, a milestone that has led to an increase in the number of employees from 80 in 2010 to more than 750 today, 40% of whom are women, with an average age of between 30 and 35 years, most of whom are engineers and technicians.

This growth is the result of the Escribano brothers' firm commitment to investment in innovation and R&D&I, which accounts for 68% of their operating profit (13 million euros in 2022) and has increased by 126% in the last two years.

The company currently exports to more than 25 countries and plans to close 2023 with a turnover of 120 million euros. It has also recently obtained a BBB ("Investment Grade") credit rating, which certifies its solvency to carry out business activities and which only 8% of the companies audited achieve.

Escribano continues its strategy of creating qualified employment and new technological capacities with national sovereignty, committing itself to industrial cooperation through consortia and contributing to the growth of Spanish industry, having invested more than 77 million euros in Spanish companies over the last 3 years.

Defense News November 2023