Spie Sa · EURONEXT:SPIE
Spie Sa — Spie Sa Ord — Q1 2025 Earnings Presentation
25 slides from Spie Sa's earnings presentation, Apr 25, 2025
Slide 1: Quarterly information as of March 31st, 2025
Quarterly information as of March 31st, 2025 April 25th, 2025 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: Germany: 3 new substations contracts in Baden-Württemberg
Germany: 3 new substations contracts in Baden- Württemberg as part of Netze BV grid extension program • Planning, development, implementation and commissioning services for 3 substations, of which one greenfield and two renovations/expansions. Completion expected by 2028 • These projects support the
Slide 4: France: ICAM virtual campus with hybrid cloud solution
France: enabling ICAM engineering school’s new virtual campus with hybrid cloud solution • SPIE ICS has designed a new-generation virtual campus for ICAM, providing its 4,500 students with a workplace accessible from any device • This new platform incorporating latest technologies from Citrix, Nutan
Slide 5: France: One SPIE contract at Saint-Dizier military air base
France: “One SPIE” contract for electrical infrastructure and cybersecurity at Saint-Dizier military air base 113 • SPIE Industrie responsible for securing high-voltage networks, delivering electrical and automation works, and ensuring the safety of runway lighting • SPIE ICS provides full supervisi
Slide 6: SPIE Global Services Energy awarded offshore wind contract Netherlands
SPIE Global Services Energy awarded wind contract offshore the Netherlands • As part of its successful diversification into wind energy projects, SPIE GSE was selected by global marine contractor Van Oord for termination and testing of inter-array cables on the Ecowende wind farm offshore the Nether
Slide 7: Q1 2025 Highlights
Q1 2025 Highlights Gauthier Louette Chairman & CEO
Slide 8: A solid start to 2025: underlying trends unaltered
A solid start to 2025 Underlying trends unaltered +2.1% organic M&A execution Solid revenue growth on a high driving continued growth in Q1 2025: comparison basis expansion +8.5% 2 transactions closed, (+6.2% in Q1 2024) 1 signed, all integration processes on track 8
Slide 9: Solid revenue growth
Solid revenue growth Continued strong momentum in Germany and North-Western Europe Q1 2025 total growth at constant FX Germany +7.2% +19.9% +27.2% France -2.1% +1.4% -0.8% North-Western Europe +7.5% +0.8% +8.3% Central Europe -4.1% +4.9% +0.8% Global Services Energy -10.0% -10.0% Group +2.1% +6.4% +
Slide 10: Germany: Unabating strong momentum
Germany Unabating strong momentum 33% of Q1 2025 revenue Revenue (€m) Strong contribution from 2024 acquisitions; high organic growth sustained 789.7 ▪ High growth in Transmission & Distribution services: 621.0 – High Voltage: driven by structurally strong demand, backlog at all-time high with solid
Slide 11: France: Resilience in mixed economic environment
France Resilience in mixed economic environment, high comparison basis 34% of Q1 2025 revenue Revenue (€m) Slight organic contraction against highest quarterly comparison basis of 2024 ▪ Customer wait-and-see attitude in sectors sensitive to short-term fluctuations in business 819.9 813.5 confidence
Slide 12: North-Western Europe: Strong start to the year
North-Western Europe Strong start to the year 21% of Q1 2025 revenue Revenue (€m) ▪ The Netherlands: • High-Voltage: strong growth driven by sustained energy transition investments and 472.4 511.4 grid expansion projects in response to network congestion • Building Solutions: solid performance, stro
Slide 13: Central Europe: Continued sequential improvement
Central Europe Continued sequential improvement 7% of Q1 2025 revenue Revenue (€m) ▪ Poland: • High Voltage market benefiting from strong energy transition investments, 177.3 179.9 production to ramp up in H2, supported by high backlog • Building Solutions impacted by high comparison basis in Q1; st
Slide 14: Global Services Energy: Solid activity levels
Global Services Energy Solid activity levels, exceptionally high comparison basis 5% of Q1 2025 revenue Revenue (€m) ▪ Q1 2024 had benefited from an exceptional shutdown maintenance operation 134.9 120.5 ▪ Solid activity levels in Q1 2025, supported by: Q1 2024 Q1 2025 – Strong demand in West Africa
Slide 15: Q1 2025 Revenue
Q1 2025 Revenue Jérôme Vanhove Group CFO
Slide 16: +8.5% total revenue growth
+8.5% total revenue growth €m +8.5% +6.7% -0.3% 0.0% +2.1% 2,415 2,226 +8.5% Total growth at constant FX Q1 2024 Organic growth Acquisitions Disposals FX Q1 2025 16
Slide 17: Organic growth: high comparison basis in Q1 2025
Organic growth: high comparison basis in Q1 2025 Group organic revenue growth 6,2% 6.2% 5,4% 5.4% 4.2% 4,2% 2.1% 2,3% 1.7% 1,7% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 17
Slide 18: M&A execution driving continued expansion in attractive markets
M&A execution driving continued expansion in attractive markets 1 2 Rich pipeline A rich pipeline of of bolt-on opportunities Acquisition signed Acquisition closed opportunities c. € 19m revenue 1 closed end of January 2025 Long-Term ~150 identified targets Building Solutions Integrator of building
Slide 19: Outlook
2025 Outlook Gauthier Louette Chairman & CEO
Slide 20: 2025 outlook confirmed
2025 outlook confirmed Strong total growth, pushing Continued expansion Proposed dividend Group revenue well above the of EBITA margin at c.40% of Adjusted net income1 €10bn mark attributable to the Group ✓ Further organic growth ✓ Active bolt-on M&A Note: 1. Adju sted for i) oper atin g in come ite
Slide 21: Q&A
QsaA SPIE
Slide 22: Appendix
Appendix
Slide 23: Q1 2025 revenue growth by segment
Q1 2025 revenue growth by segment o/w organic o/w external o/w o/w foreign In millions of euros Q1 2025 Q1 2024 Change growth growth disposals exchange Germany 789.7 621.0 +27.2% +7.2% +19.9% - - France 813.5 819.9 -0.8% -2.1% +1.4% - - North-Western Europe 511.4 472.4 +8.3% +7.5% +2.2% -1.4% - Cent
Slide 24: Revenue to revenue under IFRS bridge
Revenue to revenue under IFRS bridge €m Q1 2025 Q1 2024 Revenue as per management accounts 2,415.0 2,225.5 Holdings activities (a) 3.3 3.5 Others (b) 2.6 (41.2) Revenue under IFRS 2,420.9 2,187.8 Notes: (a) Non-Group revenue from SPIE Operations and other non-operational entities mainly related to y
Slide 25: Financial schedule and IR contact details
IR contact details IR SPIE 2025 Investor Day SPIE 2022 Investor Day @SPIE IR application Investor Relations Replay available here Replay available here Available for iPad, iPhone investors@spie.com and Android devices Financial schedule 2025 Annual General Meeting: April 30th, 2025 Dividend ex-date