Spie Sa · EURONEXT:SPIE
Spie Sa — Q3 2024 Earnings Presentation
29 slides from Spie Sa's earnings presentation, Oct 31, 2024
Slide 1: Quarterly information as of September 30th, 2024
Quarterly information as of September 30th, 2024 October 31st, 2024 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: New contract with ENEA for High Voltage power line in Poland
New contract with ENEA for the installation of a High Voltage power line in Poland • SPIE has signed a contract with ENEA Operator to install a 15-kilometre, 110kV overhead power line between Budziechów and Żary in Poland, but also to modernise substations in both locations, enhancing the region’s e
Slide 4: Contributing to the largest solar farm in Wallonia, Belgium
Contributing to the largest solar farm in Wallonia, Belgium • SPIE contributed to the commissioning of Wallonia's largest solar farm, featuring 90,000 solar panels across 30 hectares. The energy produced will cover 10% of the electricity needs for INEOS Inovyn's production site, cutting CO2 emission
Slide 5: Global Services Energy won framework agreements with Vattenfall
Global Services Energy won multi-year framework agreements with Vattenfall for offshore wind farm cable services • SPIE Global Services Energy has secured two multi-year framework agreements with Vattenfall, one of Europe’s largest electricity producers and retailers, for offshore wind farms across
Slide 6: Q3|9m 2024 Trading update
Q3|9m 2024 Trading update
Slide 7: 9m 2024 +13.9% total revenue growth
9m 2024 +13.9% total revenue growth Strong organic growth Contribution from bolt-on Guidance revised at +4.4% acquisitions +9.4% upwards for FY24 EBITA margin Very solid underlying trends in our markets 7
Slide 8: 9m 2024 Financial highlights
9m 2024 Financial highlights +13.1% +13.9% M&A activity revenue increase revenue increase vs. Q3 2023 vs. 9m 2023 Annual Revenue revenue acquired 1 7,131m € c. €432m +1.7% +4.4% 6 Acquisitions organic growth organic growth announced YTD vs. Q3 2023 vs. 9m 2023 Notes: 1. FY 2023 annual revenue 8
Slide 9: 9m 2024 Strong organic growth +4.4%, contribution from acquisitions +9.4%
9m 2024 Strong organic growth +4.4%, contribution from acquisitions +9.4% 9m 2024 Group revenue growth excluding FX Total growth at +1.5% constant FX France +2.0% +3.5% Germany +5.9% +27.1% +33.0% North-Western Europe +6.4% +2.6% +9.0% Central Europe -1.6% +0.5% -1.1% Global Services Energy +19.7% +
Slide 10: France
France Solid and resilient business profile with +1.5% organic growth in 9m 2024 34% of 9m 2024 revenue HIGHLIGHTS Revenue (€m) Solid organic growth in 9m 2024 2,358.6 2,441.3 • Tech FM was well-oriented thanks to Energy Performance Contracts and energy efficiency solutions • Industry Services: we c
Slide 11: Germany
Germany Very strong performance in our biggest addressable market 33% of 9m 2024 revenue HIGHLIGHTS Revenue (€m) 2,325.9 9m 2024 organic growth : +5.9% and Q3 2024 organic growth : +5.7% 1,748.6 • High Voltage and City Networks and Grids significantly propelled the organic growth. These activities r
Slide 12: North-Western Europe
North-Western Europe Very strong performance in the Netherlands 20% of 9m 2024 revenue HIGHLIGHTS Revenue (€m) The Netherlands: Organic growth at a strong level in 9m 2024 despite a particularly challenging comparison basis in Q3 1,436.8 Overall, the momentum was very good 1,318.1 • High Voltage act
Slide 13: Central Europe
Central Europe Very strong dynamism in all segments in Austria Poland, good perspectives but with some phasing effects in High Voltage 8% of 9m 2024 revenue HIGHLIGHTS Revenue (€m) • Performance mitigated by some unfavorable phasing effects in eastern 549.1 countries and very challenging basis in Sw
Slide 14: Global Services Energy
Global Services Energy Remained dynamic, back to a more normative growth after recent very exceptional levels 5% of 9m 2024 revenue HIGHLIGHTS Revenue (€m) Global Services Energy 377.6 • The activity in Global Services Energy was exceptionally high in Q1 292.4 and Q2 with a shutdown operation for cu
Slide 15: SHARE FOR YOU 2024
SHARE FOR YOU 2024 A great success of SPIE’s employee shareholding plan Employee shareholding estimated at c.7.9% of SPIE’s capital (post SFY 2024) Estimated shareholder structure post SFY 2024 Lac1 fund – Bpifrance SPIE •7.9% Employee funds Peugeot Invest •1.9% G.Louette & Managers Public 9.7% 5.5%
Slide 16: Q3|9m 2024 Highlights
Q3|9m 2024 Highlights
Slide 17: Revenue bridge
Revenue bridge €m +13.9% - +0.2% +9.4% 7,131 +4.4% 6,259 +13.7% ex FX 9m 2023 Organic growth Acquisitions Disposals FX 9m 2024 17
Slide 18: Strong delivery on our M&A strategy
Strong delivery on our M&A strategy To further deploy the SPIE model 6 c. € 432m Acquisitions announced Cumulative YTD full-year revenue acquired 2024 closing of the € 230 m1 City Networks and Grids acquisitions signed in 2023 Closed on April 18th, 2024 € 15m 1 Technical Facility Management Closed o
Slide 19: 2024 Outlook
2024 Outlook
Slide 20: Guidance revised upwards for FY 2024 EBITA margin
Guidance revised upwards for FY 2024 EBITA margin Very solid underlying trends in our markets In 2024 SPIE expects: Further organic growth, EBITA margin: at a slower pace than in 2023, at least 7.1% of revenue Solid organic growth expected in Q4 (a minimum of +40 bps increase compared to 2023) Conti
Slide 21: Notes
Notes 21 SPIE
Slide 22: Investor Day 2025
Investor Day 2025 SAVE THE DATE March 7th, 2025 Paris
Slide 23: Appendices
Appendices »)
Slide 24: Quarterly organic growth by segment
Quarterly organic growth by segment In millions of euros Q1 2024 Q2 2024 H1 2024 Q3 2024 9m2024 France +2.2% +2.1% +2.1% +0.4% +1.5% Germany +4.1% +7.8% +6.0% +5.7% +5.9% North-Western Europe +10.0% +6.8% +8.3% +2.9% +6.4% Central Europe +3.2% +3.3% +3.2% -10.7% -1.6% Global Services Energy +43.7% +
Slide 25: Q3 2024 revenue growth by segment
Q3 2024 revenue growth by segment o/w organic o/w external o/w o/w foreign In millions of euros Q3 2024 Q3 2023 Change growth growth disposals exchange France 791.8 772.6 +2.5% +0.4% +2.1% - n.a Germany 866.7 631.0 +37.4% +5.7% +31.7% - n.a North-Western Europe 482.8 448.3 +7.7% +2.9% +4.8% - n.a Ce
Slide 26: 9m 2024 revenue growth by segment
9m 2024 revenue growth by segment o/w organic o/w external o/w o/w foreign In millions of euros 9m 2024 9m 2023 Change growth growth disposals exchange France 2,441.3 2,358.6 +3.5% +1.5% +2.0% - n.a Germany 2,325.9 1,748.6 +33.0% +5.9% +27.1% - n.a North-Western Europe 1,436.8 1,318.1 +9.0% +6.4% +2
Slide 27: New segment reporting (as from 2024) Revenue and EBITA
New segment reporting (as from 2024) Revenue and EBITA Revenue 2023 – new segment reporting Q1 2023 Q2 2023 H1 2023 Q3 2023 9m 2023 Q4 2023 FY 2023 France 789.7 796.3 1,585.9 772.6 2,358.6 920.7 3,279.3 Germany 528.3 589.4 1,117.7 631.0 1,748.6 691.7 2,440.3 North-Western Europe 427.2 442.6 869.8 44
Slide 28: Income statement bridges
Income statement bridges Revenue to Revenue under IFRS €m 9m 2024 9m 2023 Revenue as per management accounts 7,130.7 6,259.2 Holdings activities 20.5 20.2 Contribution of companies not yet consolidated1 (8.9) - Others 1.5 (1.4) Revenue under IFRS 7,143.8 6,277.9 1. This amount corresponds to the rev
Slide 29: IR contact details and next events
IR contact details IR SPIE 2022 Investor Day SPIE 2021 Investor @SPIE IR application Focus on MT perspectives Day Focus on ESG Available for iPad, iPhone Replay available here Replay available here Audrey Bourgeois and Android devices Investor Relations Director +33 1 34 41 80 72 audrey.bourgeois@sp