Spie Sa · EURONEXT:SPIE
Spie Sa — Q1 2026 Earnings Presentation
29 slides from Spie Sa's earnings presentation, Apr 24, 2026
Slide 1: Quarterly information as of March 31st, 2026
Quarterly information as of March 31st, 2026 April 24th, 2026 SPIE, sharing a vision for the future
Slide 2: Disclaimer
Disclaimer Certain information included in this presentation are not historical facts but are forward-looking statements. These forward-looking statements are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding present and future business stra
Slide 3: Safety, an absolute priority for the Group
Safety, an absolute priority for the Group World Day for Safety and Health at Work (April 28th, 2026) SAFETY DAY 2026 • April 28th, 2026: on the World Safety Day, SPIE holds its Safety Day 2026 • Safety workshops organised at all sites, in all countries 3
Slide 4: Germany: installation of five new substations for TenneT in Schleswig-Holstein
Germany: installation of five new substations for TenneT in Schleswig-Holstein • Mandated to install 5 new 380/110 kV substations for transmission system operator TenneT: responsible for technical management under a general contractor arrangement • Consortium comprised of SPIE, Matthäi and Wiesensee
Slide 5: France: completion of an electrification project, supporting the low-carbon transition of ALK
France: completion of an electrification project, supporting the low-carbon transition of ALK • Electrification project completed for ALK at its Vandeuil (Marne) pharmaceutical plant • Gas equipment replaced by electrical solutions, reducing CO₂ emissions by nearly 305 tonnes per year and improving
Slide 6: Netherlands: new multi-year maintenance contract & electric charging solutions for the Port of Rotterdam
Netherlands: new multi-year maintenance contract & electric charging solutions for the Port of Rotterdam • New three-year electrical maintenance contract for Hutchison Ports ECT in the Port of Rotterdam, with a two-year extension option • Scope covering the ECT Delta and Euromax terminals, including
Slide 7: Q1 2026 Highlights
Q1 2026 Highlights
Slide 8: Q1 2026 key highlights
Q1 2026 key highlights Stronger seasonality impact in Q1 not affecting full-year outlook M&A contribution in Q1 26 +2.7% Revenue growth 4 acquisitions announced to +1.7% date with c. €667m annual at constant FX revenue acquired 2026 outlook confirmed Including -0.9% organic growth 8
Slide 9: +1.7% revenue growth (excluding FX impact)
+1.7% revenue growth (excluding FX impact) Sustained momentum in underlying trends Q1 2026 Group revenue growth excluding FX Total growth at +0.0% constant FX Germany -1.4% +2.6% +1.2% France +0.6% +1.3% +1.9% North-Western Europe -0.9% +1.3% +0.3% +13.2% Central Europe -8.2% +1.4% +6.5% Global Serv
Slide 10: Germany
Germany Very strong underlying momentum 33% of Q1 2026 revenue Revenue (€m) ▪ Organic growth reflecting high comparison base (+7.2% in Q1 25) and harsh weather conditions during the first weeks of the year 789.7 799.2 ▪ Catch-up over the coming quarters, thanks to secured operational capacity ▪ Tech
Slide 11: France
France Solid performance 34% of Q1 2026 revenue Revenue (€m) ▪ City Networks and Building Solutions continuing to weigh on organic growth as 813.5 829.3 expected ▪ Technical FM performing well, supported by recurring revenues and long-standing client relationships Q1 2025 Q1 2026 ▪ Industry deliveri
Slide 12: North-Western Europe
North-Western Europe Demanding comparison base in Q1 2025 21% of Q1 2026 revenue Revenue (€m) ▪ -0.9% organic growth, against a demanding comparison base in Q1 2025 (+7.5%) ▪ +1.6% contribution from the 2025 acquisitions of Rovitech and Voets & Donkers 511.4 513.2 ▪ The Netherlands: • Project-driven
Slide 13: Central Europe
Central Europe Total growth benefiting from sustained M&A activity in 2025 8% of Q1 2026 revenue Revenue (€m) ▪ Organic growth -8.2%: temporary weather-related disruptions to outdoor activities in 179.9 193.4 Poland and Austria (high voltage, telecoms, transport infrastructure) ▪ Production expected
Slide 14: Global Services Energy
Global Services Energy Challenging backdrop for Oil & Gas activities 5% of Q1 2026 revenue Revenue (€m) ▪ Challenging backdrop for Oil & Gas activities and impact of the Iran conflict in 120.5 115.2 March, leading to the temporary suspension of certain maintenance contracts in Qatar and Iraq Q1 2025
Slide 15: Outstanding M&A activity in Germany and Central Europe
Outstanding M&A activity in Germany and Central Europe While maintaining sound financial policy 4 Acquisitions announced in 2026 c. € 667m Cumulative full-year revenue acquired 7 € m1 € 180m 2 Building security systems & Specialised industrial services smart technical solutions Announced on March 25
Slide 16: M&A Germany
SPIE April 2026 16
Slide 17: Strategic expansion in industrial services in Germany: ROFA
Strategic expansion in industrial services in Germany Acquisition of ROFA Industrial Automation AG Acquisition of ROFA Industrial Automation AG, solidifying our leadership position in Germany Warehouse & logistics automation c. €430m 2025 revenue 20% Leading player in highly Diversified client Susta
Slide 18: Strategic expansion in industrial services in Germany: SGS Industrial Services
Strategic expansion in industrial services in Germany Acquisition of SGS Industrial Services Acquisition of SGS Industrial Services, strengthening expanding industrial services capabilities c. €180m 2025 revenue Strong industrial expertise in Diversified and long-standing EBITA margin slightly north
Slide 19: Q1 2026 Revenue
Q1 2026 Revenue
Slide 20: +1.5% total revenue growth
+1.5% total revenue growth €m +1.5% +0.4% +2.7% -0.1% -0.2% -0.9% -0.4% 2,450 2,415 +1.7% Total growth at constant FX Q1 2025 Organic growth Acquisitions Disposals Internal transfer1 FX Q1 2026 Note: Internal transfer in Q1 2026 of the former Robur non-German operations, previously recognized in SPI
Slide 21: 2026 Outlook
2026 Outlook
Slide 22: 2026 outlook confirmed
2026 outlook confirmed 2026 outlook Strong total growth, driven by Continued expansion of Proposed dividend further organic growth and EBITA margin at c.40% of Adjusted net income1 active bolt-on M&A attributable to the Group Note: 1. Adjusted for i) operating income items restated from the Group’s
Slide 23: SPIE
SPIE
Slide 24: Appendix
Appendix
Slide 25: Q1 2026 revenue growth by segment
Q1 2026 revenue growth by segment o/w o/w o/w organic o/w external o/w internal foreign In millions of euros Q1 2026 Q1 2025 Change growth growth disposals transfer1 exchange Germany 799.2 789.7 +1.2% +0.0% +2.6% - -1.4% - France 829.3 813.5 +1.9% +0.6% +1.3% - - - North-Western Europe 513.2 511.4 +
Slide 26: Revenue to revenue under IFRS bridge
Revenue to revenue under IFRS bridge €m Q1 2026 Q1 2025 Revenue as per management accounts 2,450.3 2,415.0 Holdings activities (a) 3.3 3.3 Others (b) (10.2) 2.6 Revenue under IFRS 2,443.4 2,420.9 Notes: (a) Non-Group revenue from SPIE Operations and other non-operational entities mainly related to y
Slide 27: Shareholding structure
Shareholding structure Success of SPIE’s 2025 employee shareholding plan SPIE is one of the few companies listed on the SBF 120 index whose employees are the first shareholder c.25,000 10% Employees participating from - 8.1% employee funds 17 countries - 1.9% management +16% vs. 2024 >6,000 Public 9
Slide 28: Our contracts structure
Our contracts structure Offers good visibility and recurring revenue Visibility on revenue Recurring revenue at the beginning of the year thanks to the nature of our contracts Recurring indicative pattern of our secured revenue Mission critical observed on 1st January every year services Multi-year
Slide 29: Financial schedule
IR contact details IR SPIE 2025 Investor Day SPIE 2022 Investor Day @SPIE IR application Investor Relations Replay available here Focus on MT perspectives Available for iPad, iPhone investors@spie.com Replay available here and Android devices Financial schedule Annual General Meeting April 30th, 202