Spie Sa Ord (SPIWF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the SPEE 2025 Full Year Results Conference Call. For the first part of the conference call, the participants will be in listen-only mode. During the questions and answers session, participants are able to ask questions by dialing pound key five. Chairman and CEO and Jerome Van Hove, Group CFO, please go ahead. Good morning, everyone. Thank you for joining us today for our full year results. I'm with Jérôme Branot, our Group CFO, and Alexandre Bonazel, our Head of Investor Relations. In 2025, we recorded a high-quality performance with outstanding cash generation. It does illustrate once again the strength and agility of our model, the relevance of our strategy, and the quality of our execution. We are well ahead on our EBITDA margin trajectory, and we are upgrading our 2028 margin ambition accordingly. To begin, I would like to share a few recent contract examples that reflect our strong positioning. In Germany, we have been awarded three new substation contracts in Baden-Württemberg, supporting Netzebewe's grid expansion plan. It is based on a long and trusted partnership with more than 70 projects delivered together since 2006. At General Contractors, SPIE will oversee the full project scope from planning to commissioning. These projects will enhance grid reliability and support the integration of renewable energy fully in line with Germany's energy transition priorities. This award represents SPIE's ability to deliver end-to-end grid infrastructure projects and its contribution to modernizing Europe's power networks. In France, SPIE is strengthening its long-standing partnership with Bouygues Telecom for the operation and maintenance of its national data center network. This new contract builds on 15 years of collaboration and covers mission-critical se...