The chief executive officer of Indra, Josep Maria Recasens, has reiterated that the Special Modernization Programs (PEM) planned for 2026 are not "in danger" and that the company trusts in a "similar behavior to that of 2025" in the development of these projects.
During the presentation of results for the first nine months of the fiscal year, held this Thursday, Recasens was asked about the situation of the PEM and recalled that their final approval is not "in his hands", but rather depends on the decisions of the Ministry of Defense.
"It depends on the Minister of Defense to decide when those programs will be made public," he has pointed out, underscoring that one of those PEM has already been communicated to Navantia, which, in his view, shows that the schedule is still following its course.
No signs of risk in the 2026 PEM
Indra's top executive has insisted that, from the Spanish defense and technology company, they do not see "any indication, deviation or risk of the 2026 PEM". In this context, he has ratified the goal of capturing 600 million euros coming from these programs.
"We can comfortably reach that amount," Recasens commented in the conference with analysts and investors, keeping the company's forecasts unchanged.
The executive has explained that these prospects are supported by the good progress of the work of the Tess Defence consortium —in which Indra participates, with 51.1%, and Sapa Placencia, Escribano Mechanical & Engineering (EM&E) and Santa Bárbara Sistemas (GDELS), with 16.3% each—, as well as by the continuity of the Eurofighter program.
Advances in the VAC program and forecasts until the end of the year
Regarding the Chains Support Vehicle (VAC) program for the Spanish Army, also managed through Tess Defence, Recasens has indicated that they are "in a very good situation".
"We are in conversations with our final clients, who are the Ministry of Defense and the Army, to specify certain elements of the project," he stated, emphasizing that the team is "confident" in meeting their clients' expectations thanks to the close collaboration with their partners in Tess Defence.
The executive has reiterated that the company's forecasts are to "manage to launch the project before the end of the year". "We see no indication that this could deviate from our expectations," he insisted, and then highlighted that they are "very happy and honored by the help they have received from the final client".
In parallel, the market has reacted favorably to the accounts presented by Indra. Around eleven in the morning, the multinational’s shares were advancing 3.77%, to 65.58 euros, placing it as the stock with the best performance of the entire session.