The technology group Indra has hired Boston Consulting Group ( BCG) to help you design the strategic plan that the group wants to present to investors on 8 July with the conclusion of an investor day. With the help of the consultant, the technology group wants to address the problems that have surfaced in recent months, with a sharp reduction in profitability has led to record losses of 92 million euros in 2014 -Front benefits net of 116 million for 2013- that have joined another 20 million in the first quarter of 2015. Due to this situation, the board decided on Monday not to distribute dividend for 2014. The combination of these factors led to the Group trading closed with a fall of 9.07%, which became more than 10%.
Among the measures that will be presented on July 8 and is currently being developed, indicated a reduction in labor costs, especially in markets like Spain and Brazil, some of the most affected by the loss profitability. In Spain studying a ERE that could affect 2,000 people, as reported by Expansion on 30 April, which would be 9.2 percent of a workforce that, at the end of the first quarter was situated on 21 746 workers. This represents 1,150 employees more than in the same period last year. Spanish template Indra division accounts for 56% of the total workforce of the group, while 298 million turnover contributed Spain in the first quarter, account for only 42.5% of total sales, although the Spanish business is the only one that has grown considerably.
The company has already begun work with BCG for developing the strategic plan, but officials said the group say they are still in a very early stage of development. The technology group recently noted that “the presentation of this strategic plan will address issues such as policies or future investments in growth geographies perspective, what we do with businesses and geographies that have no prospect of sufficient critical mass in the future mechanisms for increasing revenues, or pathways that are presented to reduce costs, among others. ” In short it comes to choosing where you are going to invest in the future and where it will divest and how they have to cut costs.
Indra has been subjected to various fluctuations in recent times, especially for the determination of the Minister of Defense, Pedro Morenés to dismount the previous CEO of the group, Javier Monzon, the president of the company, target achieved at the end of last January. The entry into the capital of Telefonica, who took a 3% directly and another 3% in derivatives led to the proposal as a substitute in the presidency of Fernando Abril-Martorell, former CEO of Telefonica and Prisa, which took possession of office the next day made public the entrance to the operator, on 30 January. Since the arrival of Abril-Martorell, the strategic realignment of the company has become a priority and in the same line fits the latest addition to the board of the group, which has supplied the low Monica de Oriol with the arrival of Enrique de Leyva, a specialist in strategic consulting was responsible for McKinsey’s office in Madrid.
According to many analysts, Indra is a company with a portfolio of products and services very large and very complex , resulting in the organization behind it is also complex and expensive, since, among other things, the corporate core has about 700 employees.
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