Q3 2024 Spie SA Earnings Call Transcript
Key Points
- SPIE SA (STU:4SP) reported a strong organic growth of 4.4% over the first nine months of 2024, reflecting the strength of its business and market position.
- The company revised its 2024 EBITA margin guidance upwards to at least 7.1%, indicating a minimum 40 basis points improvement.
- SPIE SA's bolt-on acquisitions contributed significantly to revenue growth, adding 9.4% to total revenue, aligning with its growth strategy.
- The company achieved a record revenue of EUR 7.1 billion for the first nine months of 2024, representing a 13.9% increase.
- SPIE SA's Global Energy Services reported a strong 19.7% organic growth, driven by exceptional shutdown operations and the acquisition of Correll Group.
- Organic growth in Central Europe was weak at minus 1.6% over the nine months, impacted by unfavorable contract phasing and a high comparison base in Switzerland.
- The company experienced a slowdown in fiber activities in France, which continued to impact growth in Q3.
- SPIE SA faced challenges in Poland due to unfavorable phasing effects in transmission line projects, affecting revenue growth.
- There is political uncertainty in France, which has led to some slowdown in decision-making by customers.
- The company noted a deceleration in Q3 compared to Q2, attributed to contract delays and price normalization.
Hello, and welcome to the SPIE quarterly information 2024 call. Please note this conference is being recorded. (Operator Instructions) I will now hand you over to your host, Gauthier Louette, Chairman and CEO; and Jerome Vanhove, Group CFO, to begin today's conference. Thank you.
Good morning, ladies and gentlemen. Thank you for attending this call for our Q3 trading update. Before we deep dive into the Q3 performance, let me start with some recent wins that illustrate our high-value and mission-critical solution.
So SPIE has been chosen by ENEA Operator in Poland to install a 50-kilometer long 110 kV power line and modernize the substation in the western part of Poland. This project is key to strengthening the region's energy infrastructure and supporting Poland's shift to renewable. In Poland, we have roughly 100 kilometers of power line already in progress. So SPIE is at the forefront of modernizing Poland's energy network.
On Slide 4, this contract is a good
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
