Half Year 2024 Spie SA Earnings Call Transcript
Key Points
- SPIE SA (FRA:4SP) achieved a high organic growth rate of 5.8% in H1 2024.
- EBITDA margin increased by 30 basis points to 5.6% of revenue.
- Revenue reached an all-time high of EUR 4.7 billion for the first half of the year.
- Germany became the largest contributing country in terms of revenue and EBITDA.
- The company successfully completed several bolt-on acquisitions, adding EUR 245 million of additional annual revenue.
- Leverage ratio increased by 0.1x compared to H1 2023, reaching 2.4x.
- Switzerland continued to be impacted by very challenging comparison basis.
- Revenue from fiber activities in France decreased as expected.
- Integration costs are expected to be higher in the second semester of the year.
- Political uncertainty in France may create hesitancy among customers.
Hello, and welcome to the SPIE Half Year 2024 Results Call. My name is Jess, and I'll be your coordinator for today's event. Please note, this call is being recorded.
(Operator Instructions)
I will now hand over to your host, Gauthier Louette, Chairman and CEO; and Jérôme Vanhove, Group CFO, to begin today's call. Thank you.
Good morning, ladies and gentlemen, and thank you for attending our conference for H1 results 2024. As you know, today is a very special day in Paris with the opening ceremony of the Olympic Games. And speaking of Olympic games on Page 3, we recently installed the high-voltage substation at the Parc des Princes for the Paris municipality. The goal is to ensure electrical supply for incoming events while minimizing diesel generator usage.
Carbon emissions will be reduced by 90% for events such as football matches through direct connection to the electrical grid. And on that same note, on Page 4,
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