Santa Bárbara Sistemas, subsidiary in Spain of the American defense group General Dynamics, recorded in 2025 a net profit of 74.65 million euros, which represents a decrease of 30.1% compared to the almost 107 million obtained in 2024, according to the accounts of the military vehicle manufacturer registered in the Mercantile Registry and consulted by Europa Press through Informa.
The evolution of Santa Bárbara's earnings is conditioned by the divestment in its participations Bridge Systems and Tess Defence, whose shares it sold for 90 and 39 million euros in 2024 and 2025, respectively, as detailed by the company itself in its results report.
These operations generated for Santa Bárbara revenues of 83 million euros in 2024 and 38 million in 2025. If these transactions are excluded, the net profit of the military vehicle manufacturer would have been 24 million euros in 2024 and 37 million in 2025, which would imply an improvement of 54.1%.
In June, the purchase by Indra of 26.34% of the share capital of Tess Defence was formalized, a company in which Escribano and SAPA participate, in addition to Indra and Santa Bárbara.
After this acquisition, Indra came to control 51.01% of the capital of Tess Defence, while the other partners maintain stakes of 16.33% each.
The results report of Santa Bárbara states that the company received 38 million euros from the sale to Indra of part of its shares in Tess Defence.
In the 2025 fiscal year, Santa Bárbara generated cash of 59 million euros and closed the year with 476 million euros in cash and credits to group companies.
Slight increase in sales and Spain as the main market
The net amount of Santa Bárbara's turnover reached 266.7 million euros, with a slight increase of 0.4% compared to 2024.
The Spanish market concentrated 72% of the billing, with almost 191 million euros, which represents an increase of 4.3% compared to the previous year.
The following countries with the highest sales for the company in 2025 were the United Kingdom, with a billing of 40.3 million euros, 47% lower than that of 2024, and Latvia, where revenues amounted to 29.79 million thanks to a contract for combat vehicles with the Latvian Ministry of Defense.
Santa Bárbara indicates that the armed conflicts between Russia and Ukraine and Israel in the Gaza Strip have not had a negative effect on its order book.
However, it admits that certain costs have increased due to the scarcity of some materials, supplies, and services, although the company assures that it has not suffered from "stockouts."