Half Year 2019 Spie SA Earnings Call Transcript
Hello and welcome to the SPIE 2019 Half Year Results Conference Call. My name is Courtney, and I'll be your coordinator for today's event. Please note that this conference is being recorded. (Operator Instructions)
I will now hand you over to your host, Gauthier Louette, Chairman and CEO, to begin today's conference. Thank you.
Good morning, ladies and gentlemen. We are very pleased to share with you our first half 2019 results. They are solid, driven by good momentum in Continental Europe and in Oil & Gas. We posted a strong 3.4% revenue growth, excluding ForEx, with a 3.1% organic growth. Our margins are stable, 4.8%. That's a very good level. And we achieved 4 bolt-on acquisitions to date, with a cumulative full year revenue of EUR 210 million. So we have already achieved our targets for the full year.
We are pleased to see a strong rebound in net income, now coming up positive at EUR 44 million. And very importantly, we decreased our net debt by more than EUR 150 million. So altogether,
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