Quarterly information at March 31st, 2021

A solid quarter: return to organic revenue growth, EBITA margin at pre Covid-19 level

Cergy, April 30^th, 2021  

Q1 2021 results confirming a good momentum

- Q1 revenue: €1,611 million, up +1.4% on an organic basis (+0.2% on a reported basis) compared to a robust Q1 2020 barely affected by the Covid-19 crisis

- Q1 revenue higher than in Q1 2019R^[1] by +1.1% on an organic basis (+2.9% on a reported basis)

- Strong rebound in France and continued robust organic growth in Germany, with Q1 organic growth at or above +4.0% in both countries

- Q1 EBITA at €59.7 million, up +2.5% year-on-year

- EBITA margin at 3.7%, higher than Q1 2020R1 margin (3.6%) and equal to that of Q1 2019

Strengthening optic fibre networks capabilities in Germany & Central Europe with two bolt-on acquisitions

- Wirliebenkabel: a German specialist in optic fibre broadband network roll-out with 130 employees and €25 million annual revenue

- KEM Montage:  the Austrian market leader in telecommunication infrastructure installation and maintenance with 190 employees and €30 million annual revenue

Full-year outlook unchanged

- Strong rebound in revenue and EBITA margin, both expected very close to 2019 levels

- Bolt-on acquisitions: total full-year revenue to be acquired in 2021 in the order of €200m

- Further reduction in leverage ratio^[2]

Gauthier Louette, Chairman & CEO, commented: ‘SPIE delivered a solid first quarter. Revenue was higher, on an organic basis, than in Q1 2019 and our EBITA margin stood at pre-Covid levels. France and Germany both delivered very good growth at or above 4%, highlighting yet again the vitality of our markets and the relevance of our positioning as an enabler of the energy transition and the digital transformation of our customers. With the acquisition of Wirliebenkabel in Germany and KEM Montage in Austria, SPIE is considerably gearing up its optic fibre network services capabilities in Germany & Central Europe, in order to address this strongly growing market.

SPIE’s quarterly results clearly confirm the good momentum observed since the second half of last year and give us full confidence in our 2021 outlook.’

Download the full press release of the 2021 Q1 results here.

_{[1] Restated to include the contribution of SPIE UK’s schools facility management activity, reintegrated into the continued perimeter in June 2020 (previously under a divesture process)}

_{[2] Ratio of net debt at end December to pro forma EBITDA for the full year, excluding the impact of IFRS 16}