Spie Sa · EURONEXT:SPIE
Spie Sa — Q1 2024 Earnings Presentation
28 slides from Spie Sa's earnings presentation, Apr 25, 2024
Slide 1: Quarterly information as of March 31st, 2024
Quarterly information as of March 31st, 2024 April 25th, 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: Today, April 25th, is the World Safety Day
Today, April 25th, is the World Safety Day At SPIE, Safety is everyone’s business • April 25th, 2024: on the World Safety Day, SPIE holds its Safety Day 2024 • Safety workshops organised at all sites, in all countries 3
Slide 4: SPIE held its 6th Innovation Day in Rotterdam
SPIE held its 6th Innovation Day in Rotterdam Dedicated to employees and partners • The event brought more than 600 participants to explore and share the most innovative solutions developed by employees and partners • More than sixty projects were submitted this year, highlighting the pioneering tal
Slide 5: Extension and modernisation of a substation in Poland
Extension and modernisation of a substation in Poland • SPIE signed an agreement with PSE (Polskie Sieci Elektroenergetyczne), the main TSO in Poland, for the extension and the modernisation of the Dunowo substation • The project entails adapting the substation to integrate new 400 kV lines and repl
Slide 6: SPIE implements smart digital solutions at the Elbphilharmonie in Hamburg
SPIE implements smart digital solutions at the Elbphilharmonie in Hamburg • SPIE implemented extensive measures for digital building operation including installation of future-proof technologies, transparent energy management and controlling, and modernization of the hazard management system • SPIE
Slide 7: Q1 2024 Trading update
Q1 2024 Trading update
Slide 8: Q1 2024 Positive dynamics on our markets overall
Q1 2024 Positive dynamics on our markets overall Strong organic growth Contribution from bolt-on 2024 outlook at +6.2% acquisitions +5.1% confirmed Very good start to the year 8
Slide 9: Q1 2024 financial highlights
Q1 2024 financial highlights +11.6% M&A activity revenue increase vs. Q1 2023 Annual Revenue revenue acquired 1 2,226m € c. €245m +6.2% 2 Acquisitions organic growth announced in Q1 vs. Q1 2023 Notes: 1. FY 2023 annual revenue 9
Slide 10: Q1 2024: organic growth +6.2%
Q1 2024: organic growth +6.2% France very solid and Germany at a good level of organic growth Remarkable dynamic in The Netherlands, Austria, Poland and GSE Q1 2024 Group revenue growth excluding FX Total growth at +2.2% constant FX France +1.7% +3.8% Germany +4.1% +13.5% +17.6% North-Western Europe
Slide 11: France
France Very solid +2.2% organic growth despite a very high comparison basis 37% of Q1 2024 revenue HIGHLIGHTS Revenue (€m) Very solid organic growth in Q1 2024 819.9 • Building Solutions continued to be supported by highly technical solutions featuring 789.7 substantial components on energy efficien
Slide 12: Germany
Germany Good level of organic growth and dynamic roll-out of the SPIE model 28% of Q1 2024 revenue HIGHLIGHTS Revenue (€m) Germany: good level of organic growth +4.1% in Q1 2024 621.0 1 • High Voltage activities were very dynamic thanks to the ongoing ramp up of 528.3 several projects nurtured by ma
Slide 13: North-Western Europe
North-Western Europe Very high level of organic growth, +10.0% 21% of Q1 2024 revenue HIGHLIGHTS Revenue (€m) Very high level of activity in The Netherlands supported by: 472.4 • High Voltage activities that were driven by renewables connexions and modernization of the grids, as well as Bridges and
Slide 14: Central Europe
Central Europe Very strong dynamism driven by Austria and Poland 8% of Q1 2024 revenue HIGHLIGHTS Revenue (€m) • Very strong organic growth in Central Europe, excluding Switzerland, 177.3 mainly driven by: 1 158.5 • Austria, where our markets are very favourable bolstered by the investments made in
Slide 15: Global Services Energy
Global Services Energy Exceptional level of organic growth, good mid-term visibility 6% of Q1 2024 revenue HIGHLIGHTS Revenue (€m) Global Services Energy 134.9 • Exceptional level of organic growth despite the already high comparison basis • The activity was propelled by the full ramp-up of several
Slide 16: Outstanding delivery on bolt-on M&A strategy
Outstanding delivery on bolt-on M&A strategy To further deploy the SPIE model 2 c. € 245m Acquisitions full-year revenue in Q1 2024 acquired1 City Networks and Grids Closed on April 18th, 2024 Nurturing c. € 230m 1 a rich pipeline of bolt-on Leading player in telecommunication infrastructure (fibre
Slide 17: Q1 2024 Highlights
Q1 2024 Highlights
Slide 18: Revenue bridge
Revenue bridge €m +11.6% +5.1% - +0.3% 2,226 +6.2% 1,994 +11.3% ex FX 18
Slide 19: 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 Secured bac
Slide 20: Outlook
Outlook «
Slide 21: Structural trends supporting our growth
Structural trends supporting our growth It’s a good time to be an electrical engineer SHIFT IN ENERGY LOW DIGITAL ENERGY EFFICIENCY CARBON TRANSFOR- MIX MOBILITY MATION Supported by Energy price ESG Electrification & EU regulations , Reindustrialization durably high requirements decarbonation 21
Slide 22: 2024 outlook confirmed
2024 outlook confirmed In 2024 SPIE expects: Further organic growth, Further EBITA margin at a slower pace than in 2023 increase Continuation of a dynamic bolt-on Proposed dividend at c.40% of M&A strategy, remaining at the Adjusted net income1 core of SPIE’s business model attributable to the Group
Slide 23: Notes
Notes 23 SPIE
Slide 24: Appendices
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Slide 25: Q1 2024 revenue growth by segment
Q1 2024 revenue growth by segment o/w organic o/w external o/w o/w foreign In millions of euros Q1 2024 Q1 2023 Change growth growth disposals exchange France 819.9 789.7 +3.8% +2.2% +1.7% - - 1 Germany 621.0 528.3 +17.6% +4.1% +13.5% - - North-Western Europe 472.4 427.2 +10.6% +10.0% +0.6% - - 1 Ce
Slide 26: New segment reporting (as from 2024)
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 1 528.3 589.4 1,117.7 631.0 1,748.6 691.7 2,440.3 North-Western Europe 427.2 442.6 869.8
Slide 27: Income statement bridges
Income statement bridges Revenue to Revenue under IFRS €m Q1 2024 Q1 2023 Revenue as per management accounts 2,225.5 1,994.0 Holdings activities 3.5 4.5 Others1 (41.2) 3.7 Revenue under IFRS 2,187.8 2,002.3 1.The amount in Q1 2024 mainly corresponds to the revenue contributions from ROBUR (1 month)
Slide 28: Financial schedule
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 and Android devices Audrey Bourgeois Investor Relations Director +33 1 34 41 80 72 audrey.bourgeois@sp