Cergy, April 25^th, 2025

Solid revenue growth in Q1 2025

• Q1 2025 revenue: €2,415 million, up +8.5% year-on-year
• +2.1% organic growth, on a high comparison basis (+6.2% in Q1 2024)
• Continued strong momentum in Germany and North-Western Europe
  
  

M&A execution driving continued expansion on attractive markets

• Integration of all 2024 acquisitions progressing well and in line with plan
• Closing of Elektromontaż-Poznań and Corporate Software acquisitions (Central Europe) in January 2025
• Acquisition of LTEC Group (c. €19 million annual revenue) announced on April 16th, 2025: strengthening Building Technology & Automation offering in Poland
• Healthy pipeline of opportunities ahead

2025 outlook confirmed

• Strong total growth pushing revenue well above the €10 billion mark, driven by further organic growth and active bolt-on M&A
• Continued expansion of EBITA margin

Gauthier Louette, Chairman & CEO, commented:
“SPIE has made a solid start to 2025. Momentum was particularly strong in Germany and North-Western Europe, reflecting our leadership positions in buoyant energy markets, as well as positive trends across all divisions, while France demonstrated resilience in the current mixed economic environment, against a high comparison basis. Amid heightened geopolitical and macroeconomic uncertainty, unabating high demand for energy transition-related services across Europe, together with our continued focus on selectivity and operational discipline, reinforce our confidence in achieving our full-year targets. In particular, our current margin trajectory is well-oriented, underpinned by sustained focus on operational excellence and pricing power. We are also progressing well on the M&A front, with all integration processes in plan, and a healthy pipeline of opportunities for this year.”