Gauthier Louette, Chairman & CEO, commented: “SPIE delivered a strong organic growth in the first nine months of the year. The momentum keeps being supported by structural trends such as decarbonation, electrification and energy efficiency solutions. In this regard, our unique positioning to address the acceleration in Transmission and Distribution activities provides us with excellent visibility.

While we see, of course, less impact of cost inflation in our topline, we continue to enjoy a good pricing power which, combined with a favourable mix effect and our proven quality of execution, allows us to further increase our margin. This performance evidences once again the strong added value content of our solutions and the highly mission critical nature of our services.

SPIE was very active in bolt-on acquisitions with a rich pipeline of opportunities in the countries where the Group operates. The recent acquisitions have strengthened SPIE’s profitable growth profile, and the Group will pursue its targeted bolt-on M&A strategy to further deploy the SPIE model with a strong discipline in its financing policy.

In the current macroeconomic environment, SPIE has a resilient and agile business profile addressing the structural trends related to energy transition. As we continue to execute our strategy, we are pleased to revise upwards our guidance 2024 for EBITA margin objective at at least 7.1% of revenue leading to an EBITA growth above 20%.”
 

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_{[1] Adjusted for i) operating income items restated from the Group’s EBITA, ii) the change in fair value and amortisation costs of derivative related to the ORNANE, and iii) the corresponding normative tax income adjustment}