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MarketScreener Homepage  >  Equities  >  Bolsas y Mercados Espanoles  >  Indra Sistemas, S.A.     IDR   ES0118594417


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INDRA SISTMS'A' : Indra Implements Toll Management Systems on Three Highways in Texas for € 10.6 M

09/08/2011 | 07:00am EST

Indra, the premier IT company in Spain and a leading IT multinational in Europe, was awarded a contract with Tex Toll Services a subsidiary of Cintra in USA which is in turn a branch of Ferrovial. The contract includes the implementation of the electronic toll collection back office systems on the SH-130 (Austin) and on the LBJ Express and North Tarrant Express highways (Dallas) for € 10.6 M. It reinforces Indra’s position in the transport and traffic segment in USA where the company has already implemented its toll collection solutions as well as its ticketing technology for several projects.

Besides the development, implementation and maintenance of the electronic toll systems back office on three highways it also includes the setup of two high-availability data processing centers, one in Austin and the other in Dallas. This innovative solution possesses a multi concession feature specifically designed to meet Ferrovial’s needs in USA. The feature will help reduce a significant amount of expenses as it allows management and integrated operation of the toll collection of the three highways.

With the electronic toll collection system users can pay using TAG, a device installed on the car, without having to stop or slow down. Thanks to the technology implemented by Indra, transactions taking place at each free-flow collection point will be processed in a fast and reliable fashion; the correct fares will be identified as well as the connection can be established with Texas Department of Transportation in Austin or North Texas Tollway Authority in Dallas to charge the fare from the users’ accounts automatically.

The first part of the project has an execution period of 12 months and it consists of the implementation of the back office on the SH-130 in Austin. The next stage includes the works for the LBJ Express (I-635) and is expected to be operational by 2013, while the North Tarrant Express will be ready by 2014. After each implementation, there will be an  additional year for warrant, maintenance and operation.

Regarding the SH-130 it should be mentioned that is is a newly built corridor stretching for 64 km along the Southeast of Austin. It will employ an electronic toll collection system without barriers.

The LBJ Express (I-635) is a 27.4 km corridor at the North of Dallas acting as a collector road for two arterial highways - I-35 and I-75 - which connect with Dallas’ downtown. On the other hand, the North Tarrant Express links the city of Dallas with Forth Worth, covering a distance of 21.4 km. The last two projects will incorporate two or three more lanes per direction which will be operated using the electronic toll collection system without barriers and the fares will depend on the time of the day and traffic.

Consolidation in the transport and traffic segment in USA

For Indra undertaking the integration of the toll systems for three representative highways in Texas represents a significant reference in the segment of transport and traffic in USA in order to consolidate the company’s presence.

Indra was the sole supplier of the toll collection systems for Indiana’s Toll Road highway. It also implemented its ticketing systems in the St Louis Light Rail in Missouri and in the Metro of Austin, Texas.

Indra's ticketing technology has recently been distinguished with an “Honorable Mention” at the Austin Access Awards 2010. Besides this, last year as well, the IT multinational received the Beacon Award in the transport and traffic category, a well-known distinction granted by IBM in USA for the DA Vinci platform, a worldwide reference solution for rail traffic management.

Growing presence

Indra has been present in USA since 1994. The company has references in the automated maintenance and simulation systems segments and has become the sole foreign supplier of training systems for the US Navy.

In addition to the above-mentioned projects in the transport and traffic markets, we should also mention the delivery of a , located in the American Eurocopter center in Dallas (Texas). The company is also developing several banking projects with different Spanish financial entities with presence in the country.

Indra is the premier Information Technology company in Spain and a leading IT multinational in Europe and Latin America. It is ranked as the second European company in its sector according to investment in R&D with nearly € 500 M during the last three years. In 2010 revenues reached € 2,557 M of which a 40% came from the international market. The company employs more than 31,000 professionals and has clients in more than 110 countries.

Ferrovial in USA

Ferrovial subsidiary Cintra is one of the leading private developers of transport infrastructure in the world in terms of amount of projects and total capital invested. It currently manages over 2,900 km of highways through concessions in Spain, Canada, USA, Portugal and Ireland among other countries.

© Publicnow 2011
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Sales 2020 3 063 M 3 719 M 3 719 M
Net income 2020 -41,4 M -50,2 M -50,2 M
Net Debt 2020 570 M 692 M 692 M
P/E ratio 2020 -35,7x
Yield 2020 -
Capitalization 1 289 M 1 563 M 1 565 M
EV / Sales 2020 0,61x
EV / Sales 2021 0,56x
Nbr of Employees 47 922
Free-Float 67,3%
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 8,78 €
Last Close Price 7,32 €
Spread / Highest target 80,3%
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Spread / Lowest Target -29,0%
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Fernando Abril-Martorell Hernández Chairman & Chief Executive Officer
Javier Lázaro Rodriguez Chief Financial Officer
Cristina Ruiz Ortega Director & Executive VP-Information Technology
Ignacio Santillana del Barrio Independent Director
Santos Martínez-Conde Gutiérrez Director
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INDRA SISTEMAS, S.A.4.87%1 569
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