Collaborateur SPIE éoliennes
Press release

Quarterly information as at March 31st, 2023

Published on 28 April 2023
  • Record level of quarterly organic growth for the second quarter in a row
  • Continuing increase of EBITA margin

Q1 2023 results confirm a very good dynamic on our markets

  • Total revenue growth: +11.2% (at constant FX) with the contribution of external growth for +3.6% and the impact of the disposal of our UK activities for -3.2%
  • Outstanding organic growth at +10.9%, reflecting the good momentum on our markets and our pricing power in an inflationary context
  • EBITA at €84.6 million, up +20.2% year-on-year
  • EBITA margin at 4.2% of revenue, +30 bps compared to Q1 2022

Full-year outlook confirmed

  • Mid-single-digit organic growth
  • Further EBITA margin increase
  • High focus on bolt-on M&A remaining at the core of SPIE’s business model
  • The proposed dividend pay-out ratio will remain at c.40% of Adjusted Net Income1 attributable to the Group
In millions of euros (unaudited) Q1 2023 Q1 20222 Change
Revenue 1,994.0 1,791.7 +11.3%
Organic growth +10.9% +3.3%  
EBITA 84.6 70.4 +20.2%
EBITA margin 4.2% 3.9% +30bps

Gauthier Louette, Chairman & CEO, commented:
“SPIE delivered a record-breaking organic growth for the second quarter in a row. The EBITA increased further compared to Q1 2022 illustrating our ability to enhance our margins despite the inflationary context. This strong performance confirms once again the solid dynamic of our markets, driven by the growing customers’ needs for energy savings, electrification and decarbonation solutions. It further demonstrates SPIE's unique strategic edge as a key enabler of the energy transition. This very good performance in the first quarter reinforces our confidence for 2023”.

To access the full press release, please click here. 

1. Adjusted for the amortisation of allocated goodwill and exceptional items
2. Including UK activities consolidated for 12 months in 2022

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