SPIE's Record-Breaking 2024: A Year of Accelerated Growth and Sustainability Leadership

In 2024, SPIE, a leading multi-technical services and digital services provider, delivered outstanding results, marking another year of record-breaking performance. The company's revenue grew by nearly 14%, reaching €9,901 million, driven by a dynamic +4.2% organic growth in the fourth quarter. This impressive growth was supported by the energy transition and digital transformation markets, as well as the company's strategic focus on bolt-on acquisitions.

SPIE's EBITA soared +21.9% to an all-time high of €712 million, with the EBITA margin expanding by 50 basis points to reach 7.2%. This remarkable performance was driven by operational excellence, selectivity, pricing power, and accretive acquisitions. The company's adjusted net income increased by +22.0% to €420 million, and the recommended dividend was raised by +20.5% to €1.0 per share.



SPIE's intense bolt-on M&A strategy played a significant role in its record-breaking performance. The company made 8 bolt-on acquisitions in 2024, totalling €457 million of annual revenue, focused on the Group's fastest growing markets, primarily Germany, and sectors such as renewable energy, telecom infrastructure, and pharmaceuticals. This rich pipeline of bolt-on acquisition opportunities provided a quality, recurring contribution to total revenue growth, further enhancing SPIE's sound financial structure.

SPIE's sustainability leadership was further solidified in 2024, with 49% of its revenue aligned with the EU Taxonomy for sustainable activities. The company made significant progress in reducing its Scope 1 and 2 carbon emissions, reaffirming its commitment to decarbonation targets. SPIE's strong balance sheet, with a year-end leverage kept as low as 1.6x, further demonstrates the company's financial discipline and resilience.

Looking ahead to 2025, SPIE is poised for another year of strong growth and financial performance. The company's outlook includes continued expansion of its EBITA margin, driven by further organic growth and active bolt-on M&A. With accelerating growth and best-in-class margins, as well as the well-advanced integration of recent acquisitions, SPIE is confident in its business model and the vast, long-term opportunities in its markets.

Gauthier Louette, Chairman & CEO of SPIE, commented on the company's 2024 performance: "2024 was yet another year of record-breaking results for SPIE. Revenue grew by nearly 14%, highlighting our strong positioning on attractive markets, as well as the remarkable execution of our bolt-on acquisitions strategy. EBITA reached a new record high of 712 million euros, rising 22% year-on-year, as we managed to step up our margins by 50 basis points. Free cash flow reached an outstanding 570 million euros, supported by exceptional working capital performance. This strong performance allows us to propose a dividend of €1.0 per share, representing an increase in excess of 20% compared to 2023."

In conclusion, SPIE's record-breaking 2024 performance is a testament to the company's strategic focus on bolt-on acquisitions, operational excellence, and sustainability leadership. With a strong outlook for 2025, SPIE is well-positioned to continue its impressive growth trajectory and solidify its market leadership in the energy transition and digital transformation markets.