Spie Sa · EURONEXT:SPIE
Spie Sa — Q1 2022 Earnings Presentation
24 slides from Spie Sa's earnings presentation, Apr 29, 2022
Slide 1: Quarterly information as of March 31st, 2022
Quarterly information as of March 31st, 2022 Avril 29th, 2022 SPIE, sharing a vision for the future SPIE, sharing a vision for the future
Slide 2: Disclaimer
Disclaimer Certain information included in this document 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 strategi
Slide 3: Q1 2022 Highlights
Q1 2022 Highlights Gauthier Louette Chairman & CEO 3 SPIE, sharing a vision for the future
Slide 4: Q1 2022: a solid quarter in terms of revenue and EBITA
Q1 2022: a solid quarter in terms of revenue and EBITA Solid organic growth confirming a good momentum EBITA increased by +17.7% compared to Q1 2021 Full-year outlook unchanged 4
Slide 5: Q1 2022 highlights
Q1 2022 highlights Revenue growth EBITA EBITA margin + 10.8% € 70.4m 3.9% At constant FX Group EBITA Of revenue + 3.3% + 17.7% + 20bps organic Vs. Q1 2021R1 Vs. Q1 2021R1 Full-Year outlook unchanged Note: 1 Restated to include the contribution of the unsold part of former SAG Gas & Offshore activiti
Slide 6: Q1 2022 revenue: confirming the good momentum
Q1 2022 revenue: confirming the good momentum Q1 2022 revenue growth vs Q1 2021R1: % of Q1 2022 revenue At constant FX France 37% +3.7% +6.4% +2.8% Germany & Central Europe 34% +6.5% +5.5% +12.0% Of which : Germany at +8.5% North-Western Europe 22% -3.2% +22.8% +19.7% +5.4% excluding the impact of t
Slide 7: France: Good momentum across all divisions
France: Good momentum across all divisions Q1 revenue change Highlights of Q1 2022 ◼ Positive momentum across all divisions, on the 37% Group revenue back of strong markets +6.4% Total Growth ◼ High comparison basis (+4.3% in Q1 2021) ◼ Information and Communication Systems activities remaining a ke
Slide 8: Germany & Central Europe: Solid performance in Germany
Germany & Central Europe: Solid performance in Germany Q1 revenue change Highlights of Q1 2022 Germany & ◼ Germany: 34% Group revenue Central Europe • Strong organic growth of +8.5% (vs. +4.0% in Q1 Germany 2021) +12.2% +12.0% Total Growth • Excellent performance across nearly all divisions, in part
Slide 9: North-Western Europe: Positive momentum in all countries
North-Western Europe: Positive momentum in all countries Q1 revenue change Highlights of Q1 2022 ◼ The Netherlands 22% Group revenue • Good market trends benefitting to all divisions +20.6% Total Growth especially Industry services • Good momentum at Worksphere and integration well on track with fir
Slide 10: Oil & Gas and Nuclear: Well-oriented markets
Oil & Gas and Nuclear: Well-oriented markets Q1 revenue change Highlights of Q1 2022 7% Group revenue ◼ Oil & Gas Services +5.1% Total Growth • Acceleration in organic growth • Good order intake favoured by higher barrel price level +4.5% Organic ◼ Nuclear Services • Grand Carénage program well on t
Slide 11: Q1 2022 Financial Results
Q1 2022 Financial Results Jérôme Vanhove Group CFO 11 SPIE, sharing a vision for the future
Slide 12: Income statement highlights
Income statement highlights €m Q1 2022 Q1 2021R1 Change Q1 2021 Revenue 1,791.7 1,611.5 +11.2% 1,610.8 EBITA 70.4 59.8 +17.7% 59.7 EBITA Margin 3.9% 3.7% +20 bps 3.7% Note: 1 Restated to include the contribution of the unsold part of former SAG Gas & Offshore activities (2021 revenue: €0.7m; 2021 EB
Slide 13: Q1 revenue bridge
Q1 revenue bridge €m: +11.2% +0.4% +7.6% -0.1% 1,791.7 +3.3% 1,611.5 +10.8% ex FX Q1 2021R Organic Acquisitions Disposals1 FX Q1 2022 Note: 1 Disposal of ATMN Industrie by SPIE Nucléaire in January 2022. 13
Slide 14: Q1 2022 EBITA margin +20bps improvement compared to Q1 2021
Q1 2022 EBITA margin +20bps improvement compared to Q1 2021 Group EBITA (€m) and EBITA margin (% of revenue) +17.7% 70.4 W 59.8 58.2 3.9% 3.7% 3.6% 1 2 Q1 2020R Q1 2021R Q1 2022 Note: 1 Restated to include the contribution of SPIE UK’s schools facilities management activity, reintegrated into the co
Slide 15: SPIE's cost base exposure to current inflation can be contained
SPIE has historically proven its ability to protect its margins against inflation SPIE’s cost base exposure to current inflation can be contained Our cost structure Levers of action People related costs: +50% Indexation clause that enables to pass inflation onto • People costs (including SPIE’s empl
Slide 16: Outlook
Outlook Gauthier Louette Chairman & CEO 16 SPIE, sharing a vision for the future
Slide 17: Full-Year outlook unchanged
Full-Year outlook unchanged In 2022, SPIE expects: Organic growth: at least 3.0%, increasing compared to pre-covid levels (at 2%) Continued EBITA margin progression Stepped-up bolt-on M&A: total full-year revenue to be acquired in 2022 in the order of €250 m A broadly stable leverage1 ratio includin
Slide 18: SPIE 2022 Investor Day
SPIE 2022 Investor Day April 29th, 2022, 10:00am CET Join via: www.spie2022-investor-day.fr/ 18
Slide 19: Q&A
Q&A 19 SPIE, sharing a vision for the future
Slide 20: Appendix
Appendix 20 SPIE, sharing a vision for the future
Slide 21: Shareholding structure
Shareholding structure 8.2 % - 6.7% employee funds - 1.5% management 5.2 % 81.6 % Public 5.0 % Note; All information as at 12/31/2021 except Bpifrance Investissement (Feb 8th, 2022) 21
Slide 22: Q1 2022 revenue growth by segment
Q1 2022 revenue growth by segment o/w organic o/w external o/w o/w foreign In millions of euros Q1 2022 Q1 2021R1 Change growth growth disposals2 exchange France 670.8 630.2 +6.4% +3.7% +2.8% - n.a. Germany & CE 600.3 534.9 +12.2% +6.5% +5.5% - +0.3% o/w Germany 502.0 448.4 +12.0% +8.5% +3.5% - n.a.
Slide 23: Income statement bridges
Income statement bridges Revenue to Revenue under IFRS EBITA to Operating income €m Q1 2022 Q1 2021 €m Q1 2022 Q1 2021 Revenue as per management accounts 1,791.7 1,610.8 EBITA 70.4 59.7 Holdings activities 4.8 4.8 Amortization of allocated goodwill (15.1) (13.1) Others 3.7 1.3 Restructuring costs 0.
Slide 24: Financial schedule
IR contact: Financial schedule Audrey Bourgeois +33 (0)1 34 41 80 72 audrey.bourgeois@spie.com SPIE 2021 Investor Day investors@spie.com 29 April 2022: Investor Day Focus on ESG 11 May 2022: Annual Shareholders Meeting Replay available here 20 May 2022: Dividend ex-date 24 May 2022: Dividend payment