Good afternoon, welcome to SPIE's 2021 Investor Day focused on ESG. Today, we've set up an agenda which hopefully will help you to know us better through the lens of ESG. We're going to talk about how our services contribute to the energy transition, how we measure this contribution, then we're going to present our CSR roadmap for 2025, and lastly, we will present on how sustainability is embedded in our governance. This is going to be an interactive event, so feel free to ask your questions through the platform, and we will get to them in two Q&A sessions during the event. Your speakers today will be Gauthier Louette, Chairman and CEO, Lieve Declercq, Managing Director of SPIE Nederland, Olivier Domergue, Managing Director of SPIE France, Markus Holzke, Managing Director of SPIE Deutschland & Zentraleuropa, Isabelle Lambert, CSR Director, and Regine Stachelhaus, Independent Director and Chair of the CSR and Governance Committee of SPIE's Board of Directors, and Jérôme Vanhove, Strategy, Development and M&A Director. We hope you enjoy this event, and with that, I will now hand over to Mr. Gauthier Louette, Chairman and CEO of SPIE. Good afternoon, ladies and gentlemen. It's a pleasure to have you today. Thanks for the ones of you who have decided to attend in person, and thanks to the ones who are connected now via video conference. A brief word of introduction to sustainability at SPIE. Sustainability is at the core of our business. We do enable the energy transition to happen. It is our top internal priority. We'll take you through our CSR roadmap. It is embedded in our governance, obviously ensuring consistent and efficient implementation of our sustainability strategy. I keep saying it's a good time to be an electrical engineer. As you see on this chart, electricity is at the heart of energy transition. The electrical mix is moving a lot towards renewable energy. Obviously keeping focusing on low carbon energy with nuclear electricity. We are a very important actor in all the field of transmission, distribution of energy. Number one in Germany, number one in Netherlands, and a very significant actor in France as well. All our customers today do focus on energy efficiency in all sectors of the economy, local authorities with a special focus on public transportation. All our private customers in the area of building are seeking a fast improvement in energy efficiency, and we see our industrial customers as well. What doesn't get measured doesn't get managed. This is why since 2019, we're embarked on a journey using the brand new EU, European Union, Taxonomy. We have decided to try and measure our contribution to the green economy. This was the first measurement in 2019, where we came up with a figure of 35%. You will see today that we have reached 41%, but it's not the whole contribution to carbon reduction within SPIE. Altogether, as you will see in the afternoon, we're looking at contribution about 70% of what we do as a positive contribution to carbon reduction. This is not the end of the journey, obviously. We see that this part of our business tends to grow faster, and we have worked on our bottom-up strategic plan with all our colleagues from the ExCo in the previous months. What we estimate is that the share of our taxonomy line activities should reach about 50% in SPIE's 2025 revenue compared to the 41% of 2020. We also mentioned, and we are going to show you today, what are our commitments towards our own energy carbon emissions. Clearly, we're looking at our Scope 1 and 2. Together with our supply chain, we're looking at our Scope 3. We're also looking at safety. It's been really embedded in SPIE's culture for very many years now. We still have too many accidents. We're looking at the target of reducing the severe accident by half by 2025. I should not mention this word as a target. The only viable target is to be at zero severe accident. We need to work on our path and our trajectory to reach the only goal that really matters. We're working on gender diversity in an environment which has been historically a very male environment, I must confess. We really work at attracting women to our type of business at all levels, at site level, project engineers, but also at top levels, because we need also role models to attract young women to our jobs. I'm very happy to have a role model with Lieve, it is not enough. Clearly, we're looking at increasing the share of women in senior management by 25% within five years from now. To guarantee our commitment in terms of sustainability and CSR, we have really worked with the board of SPIE. I'm very pleased to welcome today Regine Stachelhaus, who is our Chairwoman for the CSR and governance committee. She will take you with all the safeguards we have put in place to guarantee our commitment and our progress in this area. With this, I will hand over to our first speaker of the afternoon, Jérôme Vanhove, who will take you through our strategy in this area. Thank you for your attention. I'll be back later for Q&A. Thank you, Gauthier. Good afternoon, ladies and gentlemen. There is a very clear growing collective awareness about necessary decarbonization, about necessary transition to a green path. As evidenced by our 10-year-old annual report cover page, this is absolutely not new to SPIE. This is absolutely not new to us. For a long time, and especially as we are electricians, as we are a pure player in services to energy, SPIE has been supporting its customers in reducing energy consumptions, in developing low-carbon energies and systems. Climate change and more generally, global warming, is one of the biggest challenges of our times. Climate change mitigation means mandatory energy transition, means a mandatory set of new rules for politicians, for the regulators, so as to allow decarbonization across the economy. As such, the European Union and all member countries constituting the European Union have set new rules, including -55% of CO2 emissions by 2030. The objective is even stronger by 2050, where carbon neutrality should be reached. In the meanwhile, global warming and climate-related events already intensify, and populations, economic agents, must adapt to physical consequences and risks. A decarbonized economy and the energy transition mean that the whole electricity chain must deeply and massively evolve so as to reach all the goals and objectives as set by the European Union. Starting with the power generation, where renewable energy will have to represent up to 65% of the total electricity production by 2030. I call that this has to be seen in light of a status of 37% at the time we speak. This will have an obvious impact on the electrical grid transmission and distribution networks that will have to adapt to the multiplicity of those new renewable sources for electricity production. Regarding buildings, regarding industrial facilities, it's all about energy efficiency. Again, the European Union has set a new goal with an improvement of the energy efficiency by 32.5% by 2030, in comparison with the current performance already observed in 2007. Finally, about mobility. The objective is a reduction of 27% of the CO2 emissions for the entire mobility and transportation sector. These objectives, these goals set by the European Union, are already evidenced by our customers. These across the whole chain, starting with utilities and energy provider. One key customer to us is EDF, obviously, in France. We are making more than EUR 200 million revenues with EDF. EDF will invest so as to double, in the coming 10- years, their renewable energy capacity from 30-33 gigawatts up to 60 gigawatts by that term. It's the same with TotalEnergies. TotalEnergies is again, a key customer to SPIE and for years. TotalEnergies will have to reconsider its positioning. Embarking on the decarbonization, obviously, of its entire organization, and with such, will invest quite massively so as to target renewable energy production by 2030 up to 30 terawatt-hour. We have seen that any changes, any modification on the power generation side systematically involves some adaptation for the electrical grid, the transmission and distribution network. TenneT is one key player. It's a leading transmission service operator, a key customer to SPIE in Germany as well as in the Netherlands. TenneT will invest accordingly up to EUR 5 billion-EUR 6 billion per year so as to adapt the current footprint it is operating. We have, on the other hand, other extent of the chain, all our clients who do operate some buildings, some industrial facilities. These clients will necessarily have to comply and to satisfy low carbon emission new rules. In order to do so, they will necessarily invest so as to modernize their building, so as to adapt their industrial footprint. SPIE is an enabler, is an enabler of the energy transition for our customers, and this across three pillars. My colleague, Lieve, Olivier, and Markus will further explain and present this afternoon what it is about. Three pillars, starting with a shift in energy mix, enabling the shift to a large-scale decarbonized electricity production. Seen from SPIE's position, it is all about the connection of renewable energy power plants onto the electrical grid. Second pillar is about energy efficiency, enabling, again, the energy efficiency across buildings, across infrastructure, public infrastructures, as well as across industries. The third pillar is about mobility, enabling the shift to a sustainable mobility. As per us, we talk about electrical mobility, charging points for electrical vehicles, urban mobility, and of course, public transportation. We are proud to say that at SPIE, we are an enabler to the energy transition. Let's give facts and figures to this statement. All the solution that SPIE is currently providing to its clients accounts for circa 70% of our total revenues. This figure is derived from the independent Net Environmental Contribution organization. Meaning that more than 2/3 of our revenues are enabling our clients towards the energy transition. Out of which, 41%, and Isabelle Lambert will further detail that, but 41% of our revenues are eligible to the very strict, very demanding EU Taxonomy, as we already communicated on. Now, I am pleased to hand over to Lieve, who will introduce you to the first pillar, shift in energy mix. Thank you very much. Thank you, Jérôme. As Jerome just presented, the shift in energy mix, which makes up 23% of our revenue contribution in 2020, is a key pillar in the energy transition of our customers. We will now demonstrate how SPIE enables the shift to a large-scale decarbonized electricity production. Let's first talk about our technical expertise. We can approach this by the value chain. If you look at the value chain, where SPIE's strength has always been that we boost the competencies to act along the full life cycle of the assets from the design phase over maintenance, installation, operation. We are at the heart of our customers, and this also allows us to enable a long-standing relationship with our customers. With 30% of revenue contribution, transmission and distribution has always been at the heart of SPIE, and together with our big customers like EDF, TenneT, Amprion, and Elia. Over the past years, we've also positioned ourselves in the renewable energy production together with big customers like Total, but also very much with a very diversified portfolio of regional and local customers. At the same time, we have gradually gained experience to be ready once the hydrogen market will come to full potential. We would now like to give you a deeper insight in the domains of low carbon electricity production, transmission and distribution, and hydrogen. Thank you, Lieve. Now if we take a look at the EU target in terms of reducing green gas emission, you know that the target is 55% from 1990 - 2030, and it's quite an ambitious challenge for two main reasons. On the one hand, because for the moment, about 75% of all the energy in EU comes from oil, gas, and coal. On the other hand, our EU GDP will keep on growing, and consequently, energy consumption will keep on growing, too. To achieve this goal, changing our energy mix is key. For that, EU relies on two levels. On the one hand, the idea is to increase the production from renewable energy by 65% within 2030 in order to provide about 32% of all energy instead of 23% today. In particular, the part of renewable energy in electricity generation should move from 37% today up to 58% in 2030. The nd part is to increase the part of electricity among all the energy required from 21% - 25% within 2030. SPIE is present on all low-carbon electricity sources, solar, wind, biomass, hydropower, and nuclear as well. As you can see, within 2025, the growth in nuclear and hydro market will remain quite modest, lower than 5%, because to increase capacities in this field, you require new extended power units or dams. At the contrary, the market in solar, biomass, and wind will increase by 10%-20% per year by 2025, because there will be thousands of local initiative in all the SPIE countries, empowered by local recovery plans. On this market, SPIE is enacted, for example, to install wind turbines or solar panels, but also to cable activities while proposing some added value solution for grid connection, and Marcus will talk about that, and operation, including remote monitoring of the power production plants and substation, allowing to increase the productivity and ensure operational continuity between the various decentralized solution. Now, let's focus on a few example of SPIE contribution to the change in energy mix, beginning by offshore wind farm. The story, the following in France, our industry division created an entity dedicated to the marine energy sector in 2019. That's two years ago. As you maybe know, the first offshore wind farm in France managed by EDF Renewables is located at Saint-Nazaire, and it is composed of 80 wind turbines of 6 megawatt each. On this field, SPIE won several contract from the general operator called General Electric, which are including, for example, the monitoring of the 80 wind turbines onshore. For that, we installed 1,000 IoT connected to our SPIE platform called Fabloop, including warnings. This capture will obviously be useful for the offshore maintenance in the second time. We also won the contract for the preservation of the 80 turbines. It means the period between the assembly onshore, which is done in 2020 and 2021, and the offshore installation in 2022. Obviously, in all this period, our IoT and digital platform will be very contributive in order to achieve the operation for preventive, curative, and predictive onshore maintenance for electrical topics like corrosion, for example. We also won a market for the design and production of a high voltage test bench for the 80 turbines. The positive news is that the collaboration with General Electric has now extended to the production on new test benches dedicated to a new range of wind turbines, maybe you heard about, which are called Haliade-X, and which unit power is 13 MW instead of six. We finally won the installation of assembly of the onshore high voltage substation equipment, including commissioning. This is a very positive adventure because the strong commitment of our teams generate new opportunities and new contract we hope to win, it's not the case yet, such as offshore commissioning and maintenance on Saint-Nazaire field, but also a preservation contract, exactly the same for this time, Haliade-X program, 13 MW, on a project called Dogger Bank. This project is located in U.K. It's a 2022, 2025 project, it includes this time, not 80, but three times more, 276 wind turbines of 13 MW each. We shall answer this bid in contribution with SPIE UK. If you take another example, which is the offshore wind farm at Fécamp in France too, where SPIE delivered the electrical and instrumentation installation for GV between Saipem and Bouygues, which is working too for EDF Renewables. This project, this time, addresses 71 wind turbines of 7 MW each. This is really an example of a one SPIE approach, because in the first part of the bid, our teams have capitalized on SPIE Oil & Gas Services good relationships with Saipem in the oil industry. On this contract, which is worth about EUR 11 million for SPIE OGS is in charge of engineering and procurement, while the industry division of SPIE France is in charge of three major topics. Firstly, the onshore installation and cable works for the wind turbines, including lighting, including CCTV, marinized low voltage electrical cabinets, which are produced by SPIE locally in Plouhinec, fiber optical patch panel or fire detection and marine safety radar. We also won the preservation maintenance contract between the installation, exactly the same, and assembly onshore, and including assistance to offshore commissioning and also the installation and commissioning of the offshore high-voltage substation. On top of that, one of our subsidiaries called SPIE Thépault, which is specialized on onshore high-voltage transportation, won the bid to connect by underground cable from the shore to the existing 225,000 volt network in Le Havre at a distance of 32 km. If we move to the nuclear electricity production market, as you know, it's a 100% decarbonized energy available 24/7, where SPIE is a top three player since the construction of the first power plant in France in the 1970s. Ever since, SPIE keeps on accompanying its main clients, led by EDF through the Grand Carénage program, aiming at increasing the lifetime of the existing power plants while preparing the construction of new EPR power plants. I propose you to listen to David Guillon with the MD in charge of our French nuclear division. Thanks, Olivier. Coming from the energy production to its transmission and then to its distribution. This is a highly attractive market driven by the energy transition, increased energy demand, and the delay of renewal investments of the past. Energy transition. The change from fossil energy sources to renewables, plus in Germany, the exit from nuclear energy. Investments have to be done in the energy transmission grid. We talk about new lines from onshore, offshore wind parks, PV farms, or other decentralized production sources. Investments into this energy storage, including net stabilizing equipment in order to balance out grid and voltage fluctuations. Finally, investments into the grid intelligence to gain the ability to monitor and steer the grid flows. In the end, the grid has to become much more intelligent, whereas in the past, the flow of energy was clear from production to consumption. We now move into a world of prosumers. The energy transition also causes the rising demand, for example, because of electro-mobility, but also growth of the economy is increasing demand for energy. SPIE is best positioned in the market because of four main reasons. First of all, we are present alongside the whole length of the grid, from the production over the transmission to the distribution, until the final end consumer. Secondly, we have a lot of knowledge of the grid as we work in this brown field since first-time installations have often been done by us. Thirdly, we are the biggest player in Europe with 16% of our revenue, EUR 1.1 billion, and an employee capacity spread across 9 countries in Europe. Finally, we offer the whole value chain of services, starting from the engineering, the planification, the construction, installation, commissioning and operation, and finally, the service and maintenance. Let's take a look at some examples. The picture shall help us to illustrate two project examples. The first one is the erection of a new air-insulated substation to connect a wind park to the transmission grid. Each wind park needs to have such a small substation to assemble the produced energy from the windmills and to transform the energy to the transmission grid level. The second example is focusing on our technical control center in Berlin. After having erected a large number of these small substations for wind farms, we are monitoring a lot of them in a 24/7 real-time mode. For incident management, service and maintenance, we are using our one SPIE network across Germany. 47 wind parks, two PV farms, and one steel plant are currently under our control. Next to this, we do offer service and maintenance for additional 70 wind parks in Germany. Coming back to the picture again, so the energy is transmitted to the city and there transformed to the distribution grid, and then deployed to the single consumers, a household or an industrial plant. Let's assume that the city there on the slide is Hamburg, and we now move into one district of Hamburg. That's the district of Eilbek, that leads us to our distribution grid example. In order to be able to manage the modernization and new installation of their energy grid, our customer Stromnetz Hamburg awarded us with a one-stop shop solution, with a new contract to completely modernize, newly build, and digitally document the medium and high voltage grid of the district of Eilbek over the next five years. The contract has a base volume of estimated EUR 40 million, basing on a pre-calculated budget value for Stromnetz Hamburg. This is a unique contract which shall ensure quickness of project realization after our detailed design and calculation. This contractual model is exactly made for us as it looks at the whole value chain of services and offers huge potential to expand to other cities. Various studies estimate an investment volume for the expansion and modernization of the distribution grid in German cities from EUR 30 billion-EUR 40 billion until 2030. With this great news, I hand over to Lieve. Thank you, Markus. As I said in our introduction to the theme energy shift, we've been building an experience to be ready once the hydrogen market comes to full potential. The figures on this sheet show that it indeed will be a huge market, as by 2050, 14% of the EU energy mix is predicted to consist out of hydrogen, the 2020 EU Hydrogen Strategy study claims that EUR 6.8 billion of annual investments will be required to be invested in production, storage, and distribution, and retail to achieve this goal. The central question for us is how we will secure business in the hydrogen markets. To answer this, let's have a bit closer look at this market from both an application perspective as from a technical perspective. For one, the value chain ranges from original equipment manufacturers, gas producers, renewable energy producers to hydrogen users. Already now, we service this whole value chain with our current offer. All players, whether they be energy players, oil and gas companies, and utilities, they are moving already now towards green hydrogen production. As industrials want and will need to address their CO2 emissions, methanation is expected to onset soon. The market for HRS solutions, which is the mobile hydrogen solution market, is still in a very early stage. Experts think that the hydrogen market will remain local despite the huge investments needed and also despite the high technicality. With our culture of proximity, being very close to market and very close to customers, we think that SPIE is ideally placed to capture this market. Looking at the technical perspective, this value chain is very complex. There is still a lot of uncertainties about the large scale business case and the multiple combination of existing and innovative technologies needed to produce and distribute hydrogen. These technology, for example, they listen to the names like thermochemical conversion, membrane bioreactors, methanation, hydrogen compression, dehydrogenation, et cetera. To demystify this a bit, if you give it a closer look, in essence, these technologies again are a combination of electricity, of mechanical, of connectivity, of inspection and automation skills. Yes, at high pressure and low temperatures. SPIE, being an integrator by its nature and integrating of technologies by its nature, we are perfectly placed to develop these into one combined hydrogen offer. We also think, and that's also what you read in the market, is that in the end, price competitiveness will be less of a differentiating factor in this market, but the ability to provide solutions and to master specific technologies. Coming back to the question, will we be able to capture the hydrogen market? We definitely say yes. We have a couple of interesting examples to share. At the right of the picture, you see the Gate LNG terminal, the LNG terminal at the port of Rotterdam in the Netherlands. This terminal is the future portal to hydrogen, to carbon conversion, and to carbon capture. It already announced significant investment projects in the coming 10 -years, like Porthos, like liquid bio-LNG, like hydrogen truck loading facilities, et cetera. We've been awarded the first of this range of interesting investment project called the Jetty Bypass. It was a very complex project of extreme importance to the customers. Our scope of works included the engineering, the prefabrication, the pre-shutdown coordination, and all mechanical works, including the installation. This Jetty Bypass had, after months of preparation, just to be installed in a six days timeframe, which shows how competent we are in our experience. At the left, you see two hydrogen refueling stations in France, one in Cherbourg, and the other one in Le Havre. There, our scope of work, again, included the full scope of works, the preparatory studies and permitting, the design, the detailed design, the construction, and works in electricity, instrumentation, piping and installation and commissioning. It was done together with companies like McPhy, which shows that we can provide turnkey projects to our customers in the hydrogen markets. Not on this sheet, but still very relevant, is that we also can offer hydrogen engines to replace high diesel-consuming generators at construction sites. Thank you. Lieve. Now let's move to the second pillar, and the second pillar is to reduce energy consumption by optimizing energy efficiency for buildings, for cities, and for industry. Overall, let's remember that the EU target in energy efficiency improvement is 32% from 2007 to 2030. Obviously, buildings are the biggest greenhouse emitter in Europe and in France, for example, housing and commercial buildings stand for 1/4, 25% of the greenhouse gas emission. All over Europe, regulation leads new buildings to consume less and less energy. In France, for example, the new regulation called the Environmental Regulation 2020 urges to reduce by 75% the energy consumed by the offices compared to the previous law, which was called. In many cases, the aim for the buildings is to produce more energy that they will consume through renewable energy equipment. In 2020, SPIE achieved 28% of its revenue in building tech installation and FM activities that allow to reduce the carbon footprint of building through energy renovation, energy use optimization, I shall give you some example, and energy storage in link with regulatory compliance. In this aim, SPIE can propose to its client to promote renewables, install electrical vehicle charger, heat pumps, automation to master energy consumption with a focus on recovery plans on public buildings. As Markus and Lieve will highlight, energy efficiency also concern industry decarbonization and infrastructure. In this field, SPIE is mainly active on two fronts. The first one is public lighting, where LED relamping allows massive energy saving, also fiber telecom networks, which consume less energies than other network. On top of that, you have to keep in mind that Wi-Fi network, for example, consume today 2.5 less energy than it was the case five years ago. In a similar way, antenna for 5G consume 30%-40% less energy than 4G antenna for a similar volume of data processed. Apart from this example of new buildings, renovation is a key market to reach the EU objective of reduction by 30% of CO2 emission by 2030 in the tertiary sector. In France, for example, the tertiary law, which is also called is aiming at reducing energy consumption by 40% in 2030 compared to 2010 or later for existing building. It's even 50% in 2040 and 60% in 2050. Globally, for non-residential buildings, the increase in investment should reach 60% in SPIE countries from 2020 - 2030, and 10% of that is addressable by SPIE. To accompany this ambition stimulus plan in France and Germany include, for example, EUR 7 billion for public building energy efficiency and quite the half of that, EUR 3.2 billion, is addressable by SPIE. Example show that energy saving can reach up to 60% in a building through energy renovation, and SPIE is usually in the best situation to provide these clients with energy audits due to our technical skills that Lieve mentioned a few minutes ago, but also through our long-term relationship with our clients and deep knowledge of their use of the building. The key topic we address in energy renovation are HVAC equipment, including heat pumps, lighting system, renewable energy networks from geothermy to solar panel, control and energy management systems, taking into account the real use of the building. If we take a look at the building tech FM market, it's boosted today by energy management system and digital workplace solution. Obviously, in this context, SPIE is a strong partner to commit on long-term achievements through energy performance contract. To manage these energy performance contracts, SPIE created a digital platform, which is called SMART FM 360°, which allows energy management in real time. I would like to show you a 1-minute film on this innovative SPIE solution. Now, let's take another example, which is a reference by SPIE Facilities in France, within, as I said, an energy performance contract to support the target of Generali. Generali with major real estate operators. This contract is on two buildings for 44,000 sq m, and the contract was between 2017 and 2021. There were several objectives. The first one was to improve the comfort of the occupants, meanwhile, focusing on environmental objective. There was a clear objective of reduction of energy consumption by 11% within the four years. We had to define a program of new equipments while optimizing the building management system. Once more, we had to use our knowledge of the use of the building. To do that, SPIE Facilities had a deep knowledge of this site because we had a full facility management contract covering soft and hard services since 2012. On the one hand, we proposed to our client to invest on asset improvement, such as LED lighting in the parking lot, coupled with a reduction of light intensity at some period of the day, three way valves on the air handling units, and improvement of the thermal insulation of the HVAC network. On the other hand, we adapted certain technical specification through a more accurate building management, such as the period of shutdown of the HVAC equipment, according to the real use of each part of the building, the temperature of domestic hot water, or the reduction of light timers. In fact, we generated some energy saving without any impact on employees' comfort. At the contrary, there was some investment in terms of energy, because during period of high heat, we adapted the blowing temperature of air handling units in offices to increase the comfort of the occupants. Finally, after four years, instead of reducing the energy consumption by 11%, we tripled that and reached minus 32%. On the one hand, we receive a bonus from our client, and our contract was renewed by mutual agreement with no bid in one of the buildings. One positive aspect to be noticed is the fact that both assets increased their value since owing to this energy performance contract, our client obtained a valuation exceptional on the high environmental quality certification. It was really a positive operation for him. Now I hand over to Markus. Thanks a lot, Olivier. To be able to realize those energy efficiency gains, you need to exactly know what's going on in a building or a larger site. Thus, to create a valid database for the analysis, a cost-benefit evaluation of the energy efficiency measures. Finally, you need to monitor the success of the implemented measures. The SPIE Energy Manager is a cloud-based energy management system which enables to gather and analyze all energy-relevant data and associated measured input and output values. Our greatest asset is the experience gained from thousands of energy efficiency projects with our clients. Through comprehensive, transparent energy data and benchmarks, we are able to consult our clients to reduce their CO2 footprint. With the Energy Manager, ESG requirements of our clients can be met, and green building standards and decarbonization targets can be achieved simply, sustainably, and that's most important, verifiably. Let's take a look at a different building, a special building, the data centers. This market of data centers is highly attractive. On the one hand, because of the investment volumes. We look at EUR 43 billion of investments until 2026. Five key country markets account for 70% of data center space in Europe. That is France, Germany, Netherlands, U.K. and Ireland. Cloud managed services are the major driver, with a growth of 11% per annum in Europe, where France, Germany and the Netherlands have large cloud service markets with low adaptation currently. The adaptation is below 30% for the moment. Technically, the market entry barrier is high in all phases of the value chain. In the engineering installation, the operation, and the service and maintenance. It is ideally a market made for us. In addition, the Climate Neutral Data Centre Pact to achieve climate neutrality by 2030 is a remarkable initiative within the European Green Deal, also fuels a lot of investment money to perform data centers better. To give you a few figures, the energy consumption of data centers is huge. The data centers in Frankfurt, purely in Frankfurt, consume 20% of the whole energy consumption of the city of Frankfurt, even more than Frankfurt Airport, of course, before COVID times. Becoming more energy efficient is of major importance. Climate neutrality can only be reached with green energy. The KPIs we placed here on the slides give you a comparison of data center, which was installed in 2015, and one which was installed 2021. We have been, for both, the general contractor for the technical installation of all the assets. The energy savings going along with these better performance figures are EUR 1.3 million per annum savings. Translated this into CO2 savings, we talk about 3,800 tons per annum. It is a huge technological progress what we look at. Coming to infrastructure and smart public lighting. Street lighting is an essential task of municipal public welfare. Brightly lit streets bring safety and wellbeing of cities, but also allow for huge energy savings. Public lighting system consume up to 40% of the city's electricity costs. LED technology allows up to 70% of energy savings by a smart public lighting system, which also allow to use sensoric for dimming, and the luminaries can also be solar powered if needed. In addition to that, LED lights are also a carrier for multiple sensoric aspects and can thus play a vital role in the smart city of tomorrow. The market is attractive, as 90% of Europe's lighting infrastructure has yet to be converted to LED. SPIE is an innovative market leader in the Netherlands and one of the top three service providers for street lighting services in Germany. Let's take a look at a small example. That is the contract with the municipality in Beekdaelen. Hopefully, I pronounce it right. The example shows you a contract with the municipality in the province of Limburg, consisting of the three communities, Schinnen, Nuth and Onderbanken. We already changed the lamps in 2017 for the community Schinnen, and we gained recently, in 2020, the contract to replace all the existing lamps of the two other communities to LED. Means 3,400 lamps. The fixtures were also equipped with a so-called Zhaga connector, so that the lamps are prepared for future IoT solutions and sensors. In total, providing for savings until 2030 of EUR 800,000 for the municipality, and translated into CO2 savings of 190 tons. It's not a data center, of course, but definitely savings which are good for the municipality and the communities. Thank you, Markus. Now let's have a final look at industry. Industry puts us for an interesting dilemma. On the one hand, they provide us with the products we need for daily use, but they also provide us with the products we need for the huge transition into a green economy. No heat pump without steel industry, no LED lamp without chemical industry. We cannot live without the industry, not now and not also in the future. However, this industry, the same industry today, supplies about a quarter of the CO2 emissions from all industrial sector. Hence, decarbonation is key. To achieve this, or to achieve the EU decarbonation targets, industry should achieve 33% reduction in CO2 emissions by 2050. To realize this, EUR 18.5 billion of investments will be required. That can only be realized by energy efficiency, by circularity, by electrification of the heat production, and the usage of low carbon energy sources. What we can offer to the industry is a full scope of technical and analytical services and competences. We really can help the industry to realize their ambitions with respect to decarbonation. We can offer them energy scans, we can offer them smart energy management systems, but we can also offer them the full scope of building, of maintenance, of anything you could think of for decarbonation, like power to heat systems, plastic to oil, plastic to chemical, regeneration, capturing and transforming residual heat pumps, recycling waste streams, magnetic couplings, et cetera. We have plenty and plenty of examples how we can service this industry in reaching their targets. A very interesting example is the Gulpener Bierbrouwerij in the Netherlands. They turned to us with their ambition to become fully carbon neutral by 2030. It was an open discussion. Let's sit together and help us realize this ambitious target. We worked with them to find the best solutions. For example, we proposed an innovative technique called the Eco-Stripper, which is a new way for the cooking process. We changed the steam generation to a heat pump, which allows the replacement of gas to electricity, and at the same time, we had to adapt the whole electrical infrastructure to these technical interventions. We also provided them with energy scans, with inspection, and the full certification. This resulted in 75% reduction in their heat consumption, but it also realized for them a two-third reduction in their process energy peak. Also nice to mention is that this new technique allowed Gulpener to use 100% local wheats of their own region instead of having to import them from all over the world. In the past, they could only use 5%-10%. Now they can use 100% local wheats. With decarbonation, it's a joint effort, but it's also local economy at the same time. Yeah, looking at mobility, we shortly see an introductory jingle. Mobility is the third pillar. Hereunder, we subsume all solutions to enable the shift to a sustainable mobility. Currently, with only 6% of our total revenue, it's the smallest pillar, but of course, with the highest growth rates in the future. SPIE is also here well-positioned across the whole value chain of services. If we look at those different items, we want to talk about electro-mobility, urban mobility solutions, and teleworking solutions. I would like to start to take you with me for e-mobility. After a slow start, the market shall develop by a projection of electrical vehicles increasing by 34% per annum, to reach 28 million electrical vehicles by 2030. To resolve this chicken and egg problem, the recent governmental stimulus packages shall boost particularly the public charging infrastructure. I want to give you a very recent example in Germany, where we work on a large tender process, which is currently in preparation and called Deutschlandnetz. The government decided to spend EUR 2 billion to create a very dense network of high-power charging sites to create over 1,000 of those sites, including over 10,000 of those high-power charging points. Obviously, it's a governmental, so regulated, tender process. You cannot bid for the whole EUR 2 billion, but definitely it's very attractive for us because of the complexity of the offer. This is generally where we are present, where the solution gets more complex, either in terms of size of the offer and charging points to be managed, or in terms of technical complexity. This is what we see in high-power charging systems. Of course, we are present, for example, in France. Still on the other page. In France, where we even offer a complete end-to-end solution called ORVEOS. That's what you see on the very bottom right side of the page. We can move over to the next page. We have installed in Germany around 7,000 charging points. I don't want to talk about installation. I would like to talk about a contract which we recently won for service and maintenance, repair, in combination with the hotline service we offer to ensure high availability and rapid resolution for the customer, EWE Go. EWE Go is the largest electromobility provider in the northwestern part of Germany and a subsidiary of the distribution system operator EWE. They already created a dense charging network where also SPIE was working for and installing charging points. Currently, they look at a little bit above 900 AC and DC charging points. Interestingly, all charging points are powered by 100% green electricity. I think that's important. For us, next to this maintenance contract, we look at further business opportunities because EWE wants to double its size of the charging infrastructure. Firstly, with business opportunities in installation, but then afterwards in service and maintenance and repair. I'm very happy that SPIE Deutschland & Zentraleuropa joined the EUREF community in August 2021 this year, so very recent. We look forward to move to the EUREF campus, Düsseldorf in 2024 because it needs to be built. The EUREF community itself consists of companies exploring on mobility solutions of the future, energy transition, as well as climate protection solutions. Large companies like SPIE or Schneider Electric will be present, but also startups shall settle down in this campus and are part of this community. The EUREF campus will be the largest CO2 neutral campus in North Rhine-Westphalia and will also serve as the largest mobility hub in North Rhine-Westphalia. It shall be a research campus and lab for intelligent mobility concepts, a showcase for electromobility, for example, inductive charging, bi-directional charging. It shall be a hydrogen hub and e-fuels shall be researched. We will be not only a tenant. We will hold the contract to operate the whole campus over a period of 15 -years. For our employees, this is a great place to work as of 2024. For our clients and business partners, it's a strong signal that SPIE is part of the green solution. By the way, the EUREF campus fulfills the CO2 targets of the German government for 2045 as from day 1 in 2024. That is a great signal to all our stakeholders. Thank you, Markus. I always want to have an office in Düsseldorf then instead of in the Netherlands. You can rent it. One of the main concerns for governments is how to keep a congested city livable with respect to clean water and to clean air, food distribution, safety and security. Road traffic optimization addresses these topics, and at the same time, they also address delivering quick environmental wins. If you know that 74% of the transport CO2 emissions are produced by road traffic, then it's interesting to know that a predictive traffic management system can improve road congestion with 20%. It's only a small step to invest in traffic data systems, in prioritized traffic lighting, and in smart parking systems. Over the past year, SPIE's more and more proven that we take up a valuable place in the world where we work and live, and that we have become an expert in smart traffic optimization technologies. We've been awarded contracts in installation of selective vehicle detection systems, in sensoring and software for digital signage of car parks, in camera systems. We've also been supplying technical and IT equipment for traffic control centers, but we also can operate them on a 24/7 service. An interesting example is something which has been developed by SPIE Belgium and which is 100% SPIE product, it's the AC system. This is basically a priority system for vehicles with a centimeter accurate localization. It provides buses and trams to control traffic lights and access barriers by a data exchange system between the driver's interface and the roadside loop. This 100% SPIE product has already been installed in more than 6,500 vehicles and over 8,000 ground installations in Europe. Recently, we've been awarded an interesting contract at the loop in the exhibition city of Ghent in Belgium. This system regulates the often very dense traffic flow in this exhibition center. At the same time, it also helps keeping our traffic out of the city of Ghent. Thank you, Lieve. Now let's focus on teleworking. Maybe many of you tested that during the COVID-19 pandemic. In the coming years, teleworking will become a new way of working for many people, since 40% of Europeans people are expected to telework in 2025, compared to 10% in 2019. Obviously, this evolution will include increased flex office organization. This new behavior will have a positive impact, it's obvious, on green gas emissions since, for example, it was calculated that in France, increasing by 18% teleworking in France compared to pre-COVID period could reduce CO2 emission by 3,300 tons per day. To allow this migration, our ICS division in all our countries support our client transformation on a large and decentralized scale with the implementation of collaborative solution, such as video conference or collaborative workspace. During the pandemic period, we must have in mind that the number of cyber attacks on small and mid-size companies increased by 20% - 25%. More than ever in this situation, we must ensure a strong IT network reliability. The right network operating center, the customized traditional and cloud solution, keeping in mind that in the coming years, investment in cloud infrastructure should increase by 11% per year, and obviously structured cybersecurity strategies and technologies. In this context of increasing number of cyber attacks, that is key to manage the risk generated by the remote work from home. We know that from 2019 to 2025, the cybersecurity market is expected to grow by 14% per year in the EU. Last but not least, it's very important in our CSR approach, our program and solution to our client are also based on responsible digital solution. For example, our French ICS division is about to receive next month, sorry, we are a little late, it will be in October, the label Responsible Digital Services company, which includes several topics. The first one is IT for green actions, and we present you today many solution using data management to increase energy efficiency. Green for IT, for example, like the hyperconvergence technology in order to reduce the space used by data, and also digital sobriety, including reduction of data stored, sent or printed by each employee, or the extension of the lifetime of devices or servers. Now if we move to an example, we can highlight our partnership with the French National Family Allowance Fund, which is called Caisse Nationale des Allocations Familiales. In fact, this client wished to entrust the operation and maintenance of his central unified communication infrastructure, as well as the evolution of its IT infrastructure to a service provider like SPIE, capable of supporting it through the geographic footprint of this Caisse Nationale, which has 120 sites in France and overseas. The final objective for the 36,000 employees was, on the one hand, to benefit from an improved digital workplace with the installation of 450 videoconference room with Cisco and related technologies. On the other hand, make the remote home working organization a reality in a really short time in order to ensure an optimal civil service continuity to beneficiaries despite the COVID-19 lockdown. What is less visible for employees, but key to deliver such a contract, is a strengthened backbone infrastructure through ICS operational condition, maintenance, and managed services of the IT infrastructure, which include two data centers. For the remote home working, the solution provided by SPIE also covered the implementation and application flows of the collaborative work solution on each laptop and PC, connection and cybersecurity protocols implementation, and the global administration of the security roles on the client infrastructure, including firewalls, network or VPN. Obviously, we also provided to the 36,000 employees the needed support to adapt themselves and even some supplies like user headsets for home offices. In a nutshell, to make these partnerships successful, as it is the case today, the client is really satisfied with SPIE. Our understanding of the client organization and expectation was key, but also our ability to propose in the same contract, on the one end, project management, but also manage services at large scale. Now, I hand over to Jérôme. Thank you, Olivier, Lieve, and Markus. Very clear demonstration that definitely SPIE is an enabler to this energy transition. Obviously, with those expected massive investments, both OpEx and CapEx to come, needless to say that we are benefiting from very favorable rents on all our markets. This, obviously, would create unprecedented market dynamism on addressable market to SPIE. I'm not allowed to provide you with any kind of mid-term guidance whatsoever, that we normally don't do. I'm more than happy to give you some very concrete example on how our future organic growth could be enhanced. First, starting with some quite large addressed market, which represent quite significant revenue contributions at SPIE, starting with the transmission and distribution networks. As you know, we are number one in Germany on that market, number one in the Netherlands as well. Those markets are already benefiting from very large and significant investment from large transmission and distribution system operators. This, obviously, in connection with the necessary connection of new renewable energy power generation system to the grid. Regarding building renovation, as very well evidenced and demonstrated by my colleagues, they will necessarily have to consider new energy efficiency rules and update, upgrade, modification, renovation of those buildings will constitute even more further a significant attractive market. Public lighting with a change in technology, using more and more LED type of technology allowing for low consumption systems. Finally, industry decarbonation or electrification of the industry will also be a quite significant level. Altogether, those markets, we see them evolving from 4% - 5% organically in the coming years. This is for, what I would consider as a lion's share of our current activities and the way our activities would evolve. Next to that, we also will benefit from significant boosters. These markets are pretty new, not really significant in our total turnover at the time we speak, but we anticipate very fast-growing conditions in the years to come. Electromobility. You have heard Markus and Lieve and Olivier talking about charging points that we are already installing across the various countries. Our turnover on that activity has already doubled in the very recent years, and they are obviously much more to come. We are expecting two digit growth in the coming years. We have, obviously, all the new installation, all the new farms related to renewable energy, solar panels, windmills, and obviously biomass combined heat and power generation. These are also new niche market where SPIE can definitely play a key role and demonstrate that it is an enabler towards the energy transition. Regarding hydrogen, we anticipate, again, hydrogen in the total energy consumptions by 2050 to reach up to 15%, which is obviously the demonstration of necessary prior massive investments that we will be able also to play with. In aggregate, cannot display any fixed figures, but understand that, seen from our viewpoint, we would definitely consider these are unprecedented market dynamisms. In terms of our green share, this will translate into an obvious favorable change in our mix. Based on the detailed business plan assumptions we have worked out with a bottom-up approach, we consider that by 2025, our green share that you know is today 41%, should be lifted up to circa 50%, which obviously goes in the very good direction, assuming that the EU Taxonomy remains unchanged, of course. Massive stimulus plans. It has been already addressed earlier, post-COVID. We know that, and we anticipate that the lion's share of these plans would be dedicated to the energy transition, would be dedicated to the digitalization of our territories. We heard about European Union's communicating on these plans. We also heard from certain governments, of which the German and the French states, who have quite communicated on it in a detailed way. Definitely, our addressable markets will be enhanced, will be amplified with such. We talk about hydrogen, of course, electrification in industry or decarbonation, energy renovation for building, both private and public buildings, and of course, regarding digitalization, the deployment of fiber networks across territories as well as 5G. These markets are not available just for once. Obviously, it will deploy smoothly starting from 2021, 2022, and for the coming years. It will also compensate and help to compensate certain sectors, certain verticals, where obviously we have seen post-COVID some potential negative impact. This is it for me. Thank you very much, and I now hand over to Isabelle Lambert. Thank you. Ladies and gentlemen, I'm pleased to be here to explain to you the differences between the two frameworks that we have been using to measure our contribution. As Jérôme just said, 70% of our activities are called energy transition solutions, and they were measured against a reference framework called the Net Environmental Contribution. The 41%, which you are seeing, are the revenue which are aligned, not eligible, but aligned with the EU Taxonomy criteria for sustainable activities. On the Taxonomy, as you know, this is a classification system that covers all industrial sectors, almost all, and that defines with specific technical performance criteria what is green from what isn't. At the moment, the EU Commission has only been publishing the regulation and Taxonomy criteria that are valid for two out of their six environmental objectives. These are climate change mitigation and climate change adaptation. This is public information, public criteria, and those criteria that we have been using since 2019 when we first published our green share. The four other objectives and the associated criteria are yet to be published early 2022. How does it work at SPIE? We have been screening for two years all of our revenues at operational level against technical performance criteria, which are called Substantial Contribution. On top of that, we also make sure that those revenues do no significant harm to other environmental objectives, for instance, biodiversity or water resources. Last, we must also ensure that all our activities are conducted with the appropriate social safeguards, respecting fundamental labor laws. I must say, all of our activities which pass the technical performance criteria, the step one substantially contribute. They also pass the other criteria at SPIE. They do no significant harm to other environmental objectives, and they are done with the appropriate social safeguards. Those works, those measurements have been audited in the past two years by our statutory auditors, PwC, because we publish such data in our annual report in the extra-financial performance declaration. The second reference framework, which we have been using. Let me first explain why. The EU Taxonomy is binary by design. Either you pass the technical performance criteria and the two other tests, and then you qualify 100% of your revenue, 100% is green. If you don't pass it by a few percent, and I will give you examples of technical performance criteria later, then you cannot qualify any euro of your corresponding revenue. It's black or white. The Net Environmental Contribution metric, which is an open source framework supported by investors such as Sycomore at the beginning, and designed, worked out by expert consultants, allows to have a more incremental view at your revenue. Let's say it allows you to see the 50 shades of green, and we've been measuring all the activities which do have a positive contribution. Those from 0% - 100%. We've been screening also all of our revenues against this framework. I was telling you that the taxonomy is binary by design. Here are some of the technical performance criteria that help us most score green share points at SPIE. It's in the buildings area with technical measures that we are bringing to either new or renovated buildings. In terms of HVAC and LED systems, we have to install or operate LED or ventilation systems that are state-of-the-art technologies, and that score at least in the two highest energy classes for this type of equipment. Of course, installing renewable energy systems in buildings, installing heat pumps as well, is Taxonomy aligned. Installing or maintaining electric vehicle charging stations is also viewed as green by the EU Taxonomy. All the SMART energy management systems that we implement at our client site, so you've seen the video of SMART FM 360°. This is typically a service that is also deemed as green by the EU Taxonomy. These are also activities for which we are scoring green share points and EU Taxonomy aligned revenues. On low carbon transport infrastructure, installing electricity for fluvial, so for waterways, thank you, Gauthier. Helps, of course, to decarbonize that kind of transportation. The lion's share on this slide is being done at SPIE with electricity transmission and distribution, as well as our contribution to renewables and data centers. On data centers, let me explain the technical performance criteria there. We have to prove that all our services, all our distinct contributions, are aligned with the EU Code of Conduct on Data Centre Energy Efficiency. This has also to be audited every three years by a third party. We are one of the first companies that has published its green share revenues or its Taxonomy aligned revenue. To my knowledge, there are only two others that have published such figures. The company ISS has published last year as part of its European Sustainable Finance Survey, an estimation of the Taxonomy aligned revenues of the EURO STOXX, the DAX, and the CAC 40. You can see that with 41%, we're definitely ahead of the stock market game. Explaining how we move from 41% Taxonomy-aligned to 70% energy transition solutions according to the NEC framework. You can see that the Taxonomy first hasn't covered necessarily all activities yet. The technical expert groups having worked on that gladly acknowledge that the Taxonomy will be complemented in the years to come. For the moment, for instance, you see public lighting on the scale. They haven't been describing LED public lighting as an activity that would be eligible to the Taxonomy. We know that whenever sodium lights are being replaced by LED lights, this generates 60%-70% energy savings, and this is a given everywhere. Same thing in industry. We can qualify at SPIE all the energy efficiency services that we provide to the buildings, but energy efficiency services to the industry are not described by the taxonomy, at least not yet. It's not in our 41%, not anywhere, however, this is deemed as part of the solution by the NEC framework. In buildings we might, in some cases, for instance, in building renovation, when we work in a building that faces a deep renovation, the building must demonstrate that after the renovation, it will demand at least 30% less primary energy than before. In some cases, for heritage buildings, for instance, we do not achieve such figures of - 30% energy renovation, and even if the status is much better afterwards, it is not up to the taxonomy standard. Where are the 30% revenue from 70% energy solutions to 100%? You can see they are in buildings, industry, telecom, oil and gas services, and in some other smaller segments of revenue. Now I think we are ready to take your questions and to answer them. Okay. If you're in the room, and you want to ask a question, please raise your hand. Of course, we're going to take questions from the web platform as well. Nicolas Tabor? Thank you very much. The first question would be, you said the stimulus in Germany and France could generate 0.5%-1.5% additional organic growth per annum. What's the time range? When can we expect this to materialize and be seen in your figures? The second question would be on the 29% remaining between the 41% and the 70%, which exactly are the main bricks that make the difference? For instance, can there be some that are breached by the taxonomy, such as nuclear maintenance, for instance? I think it's not yet included. May that happen? The fourth question would be on the renewable and solar plants. What is the risk? What are your assumptions in terms of pricing versus volume? We've seen that there may be some government cuts to the guaranteed prices that those operators get from the governments. If there are price cuts, how much could that be impacting your maintenance contracts and be a drag, let's say, in the future? Thank you very much. Maybe to your last question first. As it appears, the prices or the subsidies from the government have been reducing already and fairly drastically in the recent years or in the recent months. It doesn't affect the growth of these areas because in terms of the cost are also have been improved, so fairly significantly. All what we see now with wind or solar developments are barely affected by government subsidies, which is really good news going forward. This is a general statement. You might find the odd exception, but that is generally the trend, yeah. Maybe I'll turn to Isabelle to answer the finesse of the taxonomy. Yeah. As you know, the nuclear sector is heavily debated at EU level, and whether nuclear is being included in the next future, that should be solved at year's end, together with the gas debate. You've seen maybe in my chart that we were having gas networks as energy transition solutions. It's because those networks enable also the biogas to be transported to the consumer. The taxonomy already allows gas networks as long as, let's say, low CO2 gas is injected in there to be considered taxonomy aligned. For what could bring us, in terms of climate change mitigation, additional green revenues aligned with the taxonomy, I believe that this energy efficiency in industry will probably be tackled in a second phase. The commission is, first of all, busy, and the technical expert groups are very busy defining the technical performance criteria for the four other environmental objectives. When they'll have published that, they will then again have a fresh look on the climate change mitigation and adaptation criteria, and it's their ambition to describe much more activities to come closer to the whole array of economic activities in the EU. For instance, I think they will have noticed that some public markets, typical public markets like public lighting, where tremendous efforts, as you have seen, needs to be done. They should be included in the taxonomy in the future. Yeah. With regard to the growth, I think that a number of these plans are taking shape now. I think Marcus was referring to the growth in e-mobility in Germany, which is fairly recent and really stemming from the decision of the government. We do see a vast change taking place right now. I think it's the chicken and egg. I think the other part is that the electrical vehicles in Germany are taking off as soon as the German vehicles, electric, are taking off. It's a chicken and egg function. What we see in France is quite some more active tendering activity regarding public buildings, which so far have not been part of the renovation effort with energy efficiency. Broadly, we think that we'll see a change in 2022 and beyond. We have a question from the web, which is how will you achieve the 50% green share you're targeting by 2025? What are the drivers behind that number? Will it be or is it based on the current taxonomy framework? I'm happy to take that one. As I mentioned earlier very clearly, that estimation is based on a bottom-up construction of our strategic plan. It is obviously supported by some sub-markets that we have evidenced as being key contributors to our future growth, key accelerating factors to our future growth. I could name some of them, like the T&D market, which will again give an additional contribution. The electrical vehicle and charging points infrastructure market obviously will be part of that one. Very clearly, this extrapolation from 41% up to 50% is based off what we know today, i.e., the current European taxonomy. If there are any further change, this may affect in one way or another, but that is still unknown. Another question from the web. Are you still working on the consolidation of the CO2 emissions that are avoided, thanks to your services? If yes, when will the results be available and public? Yeah. It's more of a mid-term plan to consolidate the CO2 emissions at client sites. The easiest thing to do is to consolidate it for energy performance contracting. For the rest, there is not yet a clear reference framework which would allow a company like SPIE, in a complex project, to take its share of its contribution from the CO2 emissions that have been saved for the client. Do you think that the business mix in the remaining 30% of your sales could evolve towards net compliant activities in the future? I guess it means could some of the 30%, which is not green at the moment, become net positive in the future? I would say that at least making a projection regarding our 41% becoming 50%, and assuming this is part of the overall 70%, I would say by definition, yes, our 70% should rise as well. Could you give us more details on hydrogen? In particular, sorry, why you consider that hydrogen is a big catalyst in the long term for your business? I think Lieve has explained well where we could be positioned on that market. Clearly, part of it has to do with mobility, which we know is a market which will start but probably starting from a small base. What we see is more hydrogen towards the industry. Call it green, call it gray, call it blue, depending. All together, it should be I don't know where exactly it will fit in the EU Taxonomy, but in terms of business going forward, that will clearly be quite a lot of investment, heavy industrial investment, where, as we have shown today, we have a good position. Last one for this session. With such dynamic end markets in the coming years, do you expect to see new competitors on your markets? Well, it's an area where there are a number of barriers to entry, one of them being attracting and retaining talents in very specialized areas. I think there are a number of large competitors in Europe who possess this base. It's becoming more and more intricate in terms of technologies to gather together. We have seen all the impact of the digital content as well, of all these new offerings. I tend to think that this is quite a good protection to entry. The other one, maybe some of you might think of a startup popping up in this sort of business. As you have seen from all these examples, the knowledge of the customer's asset is key, and these assets, again, are really complicated. Our customers rely heavily on us to understand and monitor these assets, and that's what we think it's quite a good protection. The know-how of the customer's asset is a key element. We have a number of examples in the past of newcomers who didn't make it because of lack of understanding of customers' processes. We'll stop here for the first Q&A session, and we'll have another one at the end of the event. Now we're going to take a 10-minute break, and we'll be back at 3:55 sharp, please. Welcome back. I'm pleased to say a few words about our first corporate social responsibility roadmap. Before I expose this roadmap to you, I'd like to highlight for how long we have been signifying our values and our commitments to the corporate and to the community at large. SPIE has been a signatory of the United Nations Global Compact since 2003, meaning that we adhere, and we report every year to the United Nations on our commitments to the fight against corruption, to labor rights, to human rights, and to environmental protection. Since 2010, SPIE has been an adamant supporter of The Shift Project, which is a French think tank advocating the shift to a post-carbon economy. More recently, in 2020, at the very beginning of the COVID crisis, you might remember that some business groups had been advocating for European regulation to be delayed in time because of the economic shock. SPIE, on the contrary, has joined the European Alliance for a Green Recovery, signaling by this way its wish for the recovery plans to fully take into account the need for an environmental transition. More recently, in May this year, we've been committing to set carbon footprint reduction targets, which are in alignment with latest climate science by joining the science-based targets and/or carbon footprint reduction targets, which you will be seeing in 1 minute. They are currently being validated by the Science Based Targets initiative. To design our corporate social responsibility roadmap, we've been first doing a so-called, pardon me, the jargon, materiality analysis. We've been questioning our major stakeholders, employees, clients, investors, suppliers, and partners on our main stakes in a three year horizon. Stakes being economic stakes, social or environmental stakes. These are the results. You see here pictured, the five main issues that most matter internally to us, to SPIE. Our entire executive committee has ranked the stakes as well, and that most matter also to all other stakeholders. The first one is the shift in energy mix, closely followed by the green economic recovery and the client shift to sustainability. On the social side, you see that the priority is health and safety and shortages in skills. We've been working on those results to build our roadmap, which focuses on two pillars, the environmental and the social pillar. To answer our client shift to sustainability, to work with green economic recovery plans, and to accompany the energy transition, our green share of revenue with this objective that has been shown to you to have 50% of revenue being taxonomy-aligned on climate change mitigation, that's our main contribution. This is followed by our commitment to reduce our carbon footprint in alignment with a 1.5 degree scenario. Meaning in five years from now, reducing our direct operational footprint by 25%, and on our Scope 3 emission, making sure that 67% of our suppliers, taken by emissions, will have themselves set carbon footprint reduction targets in five years from now. On the social side, health and safety, Mr. Louette had already presented that. Our aspiration is, of course, to go to zero severe accidents in the future. The midterm goal is to halve the number of severe accidents. On diversity, our objective on key management positions, so this is approximately the top 250 in the company, is to increase the number of women within those position by 25%. Now I will be showing you a small video of our carbon footprint commitments. At SPIE, as a company, we know that we have a duty to fight climate change. We are committed to reducing our carbon footprint by 25% by 2025. Specifically, our vehicle fleet represents 87% of our direct carbon footprint. We are reducing our fuel consumption and our greenhouse gas emissions by integrating more electric and hybrid vehicles in our fleet. By 2025, more than one-third of our vehicles will be electric. Reducing vehicle and engine size. Installing charging infrastructure on our sites. Optimizing our trips, encouraging eco-driving and teleworking. We are also dedicated to reducing our building emissions by improving their energy efficiency, increasing use of renewable energy. We are tackling all our indirect emissions as well by asking our suppliers to set ambitious carbon emission reduction targets, reducing business travel, and encouraging environmentally friendlier options, improving our waste sorting and recycling. We have joined other companies in setting science-based targets, and we are committed to limiting global warming to 1.5 degrees Celsius for the future generation. As you've seen from this short video, our direct operational footprint is highly dominated by our fleet. There, the main objective is to substitute fossil-fueled vehicles by electrified ones. Back in 2019, we've taken a 2019 baseline to set carbon footprint reduction targets because it was kind of a normal year. In 2020, we have been achieving a carbon footprint reduction, but which was largely contextual, COVID-wise. 2019 is our baseline for most of these CSR roadmap objectives. Back in 2019, we had 2% of vehicles which were so-called low carbon. This year, the last six months, our car policies have been massively changed across all subsidiaries. You see here an example of SPIE U.K., which has already changed a third of its van fleet and switched this fleet to electric vans. All in all, our low carbon fleet has already moved from 2% in 2019 to 3% end of 2020. In the first semester, we already moved to 7% of the fleet being low carbon, so hybrid and hybrid electric and fully electric vehicles. Our indirect footprint is the most difficult for us to tackle because we have in excess of 70,000 suppliers. We are close to the clients, but that means also that our procurement is made locally, most of our procurement. This is our challenge to embark 67% of the suppliers that make the emissions of our procured goods and services towards setting ambitious carbon footprint reduction targets. To do so, we can rely on a longstanding sustainable procurement policy. SPIE has been already discussing CSR and assessing its supplier on CSR for more than 10 -years. This is the kind of dialogue that our procurement teams were already used to having, but now it's about to get specific and demanding on CO2 reduction. On safety, you can see the baseline and the historical progression of our severe accidents on the left. Severe accidents, we were having 20 of them back in 2018, reducing them to 16 the year after and to 12 last year. The prevention policies at SPIE have been focusing lately on severe accidents, and we've been launching a campaign, which is called the Life Saving Rules this year, which will have further ramification in the years to come, which is really focusing on those main risks. Electrical risk, lifting risk, working at height, and driving. Those are our main risks. Focusing on them so as to make sure that nobody gets severely hurt when working at SPIE. On gender diversity, SPIE was also having, for many years, a network called So'SPIE Ladies, which is sensitizing internally for gender diversity. For instance, developing awareness-raising sessions on bias. By setting a formal objective, we hope to make further progress in attracting women in the company and retaining them as well. We need to work on both levers to achieve this ambitious objective, because today, when you advertise a management position, you barely receive female CVs in our sectors. Last, I wanted to give you an overview of how extra-financial rating agencies view SPIE. We've been starting to engage and to have a dialogue with those three agencies last year only. Hence, we've made significant progress in our ratings, especially with Sustainalytics, which now views us as a low-risk company in terms of ESG, with MSCI, where we are rated A, and with Vigeo, which considers that we are the second most sustainable company in the industrial goods and services in Europe. Now it's my pleasure to hand over to Regine Stachelhaus, the Chairwoman of the CSR and Governance Committee of the board. Thank you very much, Isabelle. [Foreign language] I would like to take the opportunity today to present to you the role of the Supervisory Board for CSR at SPIE. First, let me briefly introduce myself and explain my role at the board. I joined the board of SPIE in 2014, right before the IPO. Today I'm heading the Committee of CSR and governance, as it was already mentioned before. By profession, I'm an educated lawyer, familiar with compliance, and I spent more than 20 -years with HP, I think well-known in this audience here. One of the world's leading IT and digital solution companies in these older days. I headed the legal department. I held several management positions in admin, sales, and marketing, and finally, as a Vice President and member of the German board, responsible for the printer business. Thereafter, I joined the board of E.ON SE, I think well-known too, among EURO STOXX company, international energy producer and provider. I was in the board, in charge group-wide for all service functions, including the HR director, IT, procurement, and again, legal. In between these two jobs, I spent, I would say, two very valuable years with UNICEF, an NGO founded by the United Nations, taking care for the wealth of children. I was heading the German section to help them out of a crisis at that point in time. Sometimes I call it a kind of a work-life donation. Since I focus on non-operational duties, I took on a number of supervisory board mandates in various industries and countries like Germany, France, and the U.K. Today's presenters have shown you in detail our sustainability strategy, and my goal in this presentation is now to show how well sustainability is embedded in SPIE's governance and how SPIE's governance ensures the consistent and efficient implementation of this sustainability strategy. Sustainability is indeed embedded in the group's governance, and today I'm going to focus on the three following topics. Number one, the clear CSR accountability that is present through the entire organization. Number two, the inclusion of the CSR criteria in the senior management's compensation. Third, the strong policies the group has with regards to ethics and compliance. Here you see SPIE's board of directors. The board is composed of 10 members at the moment, including four women, and we are looking to recruit a fifth one, following the resignation of Elisabeth Van Damme, who represented CDPQ. Very clear the employees are the group's number one asset, and they are at the center of its development. This is also reflected in our board with three directors representing the employees, and one of them, Gabrielle van Klaveren-Hessel, is specifically representing the employee shareholders. We all come from various nationalities, and I think we can say that we are collectively a good reflection of the group's geographical diversity. Five directors are from France, three are German, one is Dutch, and one is British. We are a majority of independent directors, as six of us or 60% of the total are independent according to the AFEP and MEDEF code. The board is composed of three committees, as usual, an audit committee and a nomination and compensation committee, and now we also have a CSR and governance committee. You can see it here. This CSR and governance committee, which I have the honor to chair, was created two years ago. It is composed of four members today. It's SPIE's highest CSR oversight body. Our main duty is to assess, on behalf of the board of directors, whether the breadth of social and environmental risk and opportunities are being properly dealt with by our company. To do so, we are regularly presented with sustainability policies, processes, and with the results. We also analyze and discuss the ESG ratings and overall performance of the company on that. In 2020 and 2021, we covered topics such as, for example, the results of the annual board evaluation, the board's competence matrix with an addition in 2020 of a CSR competence, now Governance topics raised by the proxy advisors, investors, or the AMF. The target for women in senior management positions. SPIE's ethics program. The directors' independence, for sure. The ESG rating reports and investor feedbacks on ESG. A pretty busy, again, agenda, I would say. Last year, we met five times with a very high attendance rate of 96%. Beyond the board of directors, I can say that sustainability governance is ensured at all levels of SPIE's organization, from the top to the grassroot level. Starting from the top, the president and CEO, of course, but also his entire executive committee. The executive committee has validated the CSR roadmap presented to you today, making sure that it would be practically adopted and followed through their respective subsidiaries and functions. They also review on a monthly basis key processes and performance related to health and safety and to employees' attraction and retention. Climate risk and opportunities has been very high on the ExCom's agenda as well in the last 18 -months. Let me say a few words about competence. When I was approached to join SPIE's board back in 2014, my specific skill set and experience around human resources finally made the difference there. The board is assessed on its CSR competency, and when a given competence is not even across the board or needs refreshing, our highest governance bodies train themselves. This was the case last year, for instance, when the Executive Committee took a thorough two day climate risk training delivered by the think tank form part of The Shift Project. SPIE has established a dedicated group CSR committee in 2017, whose mission is to propose strategic CSR orientation to the Executive Committee. They have designed this CSR 2025 roadmap, which was presented to you earlier. Two members of the Executive Committee sponsor this committee, which is composed by the CSR heads from each subsidiary, as well as all key functions such as health and safety, CSR and HR. As SPIE is a decentralized company, each subsidiary has formed its own CSR committee, led by the head of the CSR in this given geography. Their mission is to adopt or adapt the group CSR roadmap, taking into account the specificities of their activity mix, their own risks in that area, and their own opportunities. Their objectives are formalized in the subsidiary's annual CSR action plan. As for the group committee, they also play the role of a kind of a one-stop shop to find, on one hand, the CSR expertise, but on the other hand, also to share back practices within the group. Having a clear sustainability governance at all levels of the organization is definitely one of SPIE's strengths. Obviously, in order to make it work the best possible, we need the right incentive structure. Starting with the CEO's variable compensation, the CSR criteria accounts up to 23% of the qualitative part of his variable pay this year. This CSR part is determined based on two topics. Number one, the implementation of a roadmap on the reduction of CO2, as well as a reduction target for the year 2021. Second, the improvement of SPIE's average ratings from the ESG rating agency like, we have seen that, Sustainalytics, MSCI, and Vigeo. The group's health and safety performance, which is a top priority for SPIE since I know him, and I think long before, is an important input for the quantitative portion as it is used as a weighting factor for the EBITDA organic growth. I think that includes a very clear message, growth must never be achieved at the expense of health and safety. Now we are clearly looking to have the CSR criteria included in the incenting structure of a much wider base of managers. Here, two major evolutions are currently envisaged. Number one, the inclusion of the CSR criterion in the 2022 long-term incentive plan, so about the performance shares, which has around 250 beneficiaries. The board of director is currently working on it. The other one is the inclusion of a CSR criterion in the ExCom's members' variable compensation. Here again, work in progress, but I think overall it's a major evolution which will reflect the strong commitment of our group's senior management to sustainability. Last but not least, I shall remind you that at SPIE, all managers' and all supervisors' variable pay is partly determined based on the safety performance. Ethics and compliance are key to a company like SPIE, which operates on such an international, people-intense, client-focused and decentralized business. The group has a comprehensive ethics code which has been recently overhauled, and it will be published in the very near future. This new version updates and expands the previous one while keeping at its heart the group's core values, and this is performance, proximity, and responsibility. In the new version, more emphasis is made on certain topics as, for example, human rights, anti-corruption, or conflicts of interest. A guide to this ethics code is made available to the SPIE's employees, and it contains for each topic recommendations in the form of dos and don'ts. It also contains group rules related to anti-corruption risk, especially such as gifts, invitations, sponsoring, and donations. The possibilities to report infringements to ethical rules have been expanded with a revised whistleblowing system to become effective at the end of this month. This whistleblowing system is open to SPIE's employees as well as to any external workers and any other stakeholder, as long as it's a physical person and not just a legal body. It will be possible to make reports even anonymously on a dedicated platform, which site is secure and managed by an external service provider that is bound by a strict duty of confidentiality. These alerts will be received and dealt with by the group's compliance officer. Events that may be reported are, in particular, any misdemeanor or crime, violation of law or regulations, violation of ethics code, and any serious threat or harm to the general interest. For example, a report may cover violations of anti-corruption law, competition law, banking law, security laws, and accounting laws. Events likely to constitute internal or external fraud, safety risk, misuse of corporate assets, embezzlement of these assets, insider trading, or a conflict of interest. Also elements potentially being a case of psychological or sexual harassment can be reported by the person considering to be subjected to such situation. In the meantime, it is for sure still possible, and it will be also possible in the future, to address written alerts to various persons within SPIE's organization, like, for sure, their compliance officer, all the HR people, and the employer representative. With that, I would like to come to a conclusion. Sustainability is strongly embedded in SPIE's governance, with a clear accountability on all levels of the organization, an evolving appropriate incentive structure, and strong ethics and compliance. As the Chair of the CSR Committee, I am deeply convinced that SPIE is pursuing an ambitious and consistent sustainability strategy that resonates very well with the nature of the group's services, as well as with the values and also with the commitments of its 45,000 employees. With that, I would like to hand over to Mr. Gauthier Louette for the closing remarks. Thank you for listening. Thank you, Regine, and thank you also for supporting us at being a board member since 2014, and you have brought a lot of value to the board, and you have really helped us grow over these years and keep focused on important topics like CSR. Thanks to all of you for attending today. Clearly, we try to first give you a concrete view of what we do in terms of energy transition and the vast array of opportunities this topic offers. Also, I hope that we have conveyed to you the sincerity of our commitment in this regard. I think that's something that is really important to us, that really matters. It's also very important to our employees. It gives them a sense of what they do in helping protect the planet and fight climate change. It's also very important to attract and keep young people. I think that is with these young people in mind that we keep working on all these green economy commitments. Thanks for your attention. We have a lot to do. I think a lot of runway in front of us. Many opportunities. It's a good time to be an electrical engineer, and it's a very good time to be really a part of the solution in terms of green economy. Thanks a lot. Have a good day. Okay. Now we have a second Q&A session. Again, if you want to raise question in the room, please raise your hand, and then we'll take questions on the platform. We start with Nicolas. Thank you very much. Nicolas Tabor from Stifel. My first question would be on the Scope 3 targets, where you expect to have, I think, 67% of the procurement with suppliers with ambitious CO2 targets. How do you define that and how do you manage that? I think the Scope 3 is like 80% of your emissions, right? As most companies. In terms of the 25% reduction target for greenhouse gas in Scope 1 and 2, is it in terms of intensity or is it just in tons? Even if you achieve faster growth on top line, you still achieve minus 25%. Maybe coming back to the previous discussions this afternoon. How much of your contracts in industry and building TechFM all have, let's say, indexation on energy efficiency targets? What's the percentage that include these kind of targets that you can then value and show to the auditors for Taxonomy and so on? Do you have an idea? Thank you very much. Thank you. First on Scope 1 and 2, the -25% are in absolute targets, not intensity targets. Indeed, we grow this year. The acquisitions that have been made already this year, they would add about 3.5% to our Scope 1 and 2 footprint. Indeed, what we will have realized in 2025 is much more than -25%. On Scope 3, how will we be achieving this? It gives me the opportunity to highlight again, that our target is on 67% of the spend by emissions. Not of the spend by EUR. That means that we will be engaging very heavily with our largest suppliers by emissions, which are those supplying us with cables, HVAC equipment, IT. Some of them are already committed, engaged. This is particularly the case in the IT business. Our largest supplier there, Cisco, has had its science-based targets validated for a while. This is where it gets interesting, we have a large number of medium-sized suppliers, which today have a low, let's say, a low carbon footprint reduction maturity. It is our job also in consortium with other companies, with peers, to bring them towards setting science-based targets themselves. For the last question, what's the percentage of industry and buildings which already have energy performance contracting? Was that your question? Oh. Maybe some help from Markus or Olivier on this thing, yeah? Who wants to be first? Maybe Olivier. For me, the situation in France is quite different because on the building part, it is true that most of our contract include energy saving elements. I would say between 60% - 80% of our facility management and contract include this kind of position and commitment by SPIE. At the contrary, in the industry part, it is true that industrial are very interested globally in the CSR approach and mainly on energy saving, but the solution are still to be defined. We talked about a few ones like, hydrogen, for example, like solar panel and things like that. We are working with them on solution and their involvement for the moment is rather on finding solution rather than implementing them. It will take a little more time in industry, but the real focus of our client on this topic, nevertheless. Markus, you want to add something? Yeah. I tend to say that, with looking at the TechFM and energy saving business in Germany, we have the subsidiary which is purely focusing on energy saving matters, and that is energy solutions, and that is making up 10% of the TechFM business. As Olivier said, we are having a lot of larger clients where we are forced to make energy saving proposals. The implementation is then for the client. I tend to say that 10%-20% of our contracts are already having such things in our contractual base, and this is enlarging now. We have a question on organic growth. Could you quantify a bit more the organic growth you expect for the whole group with increased growth in renovation, lighting, energy efficiency, and all new very strong growth business you alluded to? Is 5% a good guesstimate? Well, I think we have indicated what we are seeing as incremental growth stemming from all these drivers. 5% is quite a strong figure in our business. We did achieve 5% growth in France in 2019, or we achieved in some areas in Germany, like distribution, we achieved 6% growth last year. I would call it top of the range. We have a follow-up question on the Scope 3 commitment. How do you assess the ambitious aspects of suppliers' commitments? An excellent question. It depends on their size, of course. We do not have yet the full-fledged answers. We have transverse expert teams in procurement, in operations working on that, but we cannot have the same level of expectation for a large company than towards a small or medium-sized company. To cut it short, a small and medium-sized company, we would be asking for them to reduce their direct emissions, Scope 1 and 2, whereas for a large company, we would take other proxies, including a commitment to reduce their Scope three emissions. With the price of CO2 skyrocketing, are your clients ready to pay higher prices for your services considering the savings they generate on CO2 contracts? Maybe, Lieve, you want to give an answer from what you see in your business in the Netherlands? Well, we don't see the prices rocketing yet related to CO2 emissions. Not related to that, but we do see, for example, prices more related to the infrastructure, like TenneT and Rijkswaterstaat, who's a governmental agency. They are willing to price add-ons for faster delivery of services. They have a huge challenge laying in front of them, and they are looking for companies like us who can help speed up, and that is being rewarded in pricing. Any colors on the planned stimulus packages in other European countries than France and Germany? Can the +0.5% to +1.5% organic growth boost double on the back of the latter? Well, maybe just Lieve you want to talk about the plans in the Netherlands, especially towards hydrogen. Yes, thank you. I think like in many other countries, also the Netherlands boosts an interesting hydrogen stimulus plan. We're talking about the northern region, which want to position themselves as the European hydrogen valley. They're talking about EUR 9 billion of investments to be done in the short future. Together with that, you see intensive science programs arising, collaboration between German universities and Dutch universities, and the Dutch government stimulating all types of science-based projects to create more knowledge on the field of hydrogen, specifically related to the business case. Like I said in our introduction, to really scale it up, you need an attractive business case. Today it's a bit who is going to take the responsibility in the chain. For that, you need a more scientific-based platform to capture technologies, but also to capture how to create this business case and hence how to stimulate these investments. We see a strong lobby, we see investment money, we see a program, we see science. Everything is set for what we believe they're going to be a really interesting market in the future. With regard to growth with Markus, Olivier and Lieve, today you have 75% of our business, so it gives you some idea about our growth opportunities. Okay, we have another question from the web. Anyone in the room? Nicolas. Just last one, if I may. By when would you expect to update all these targets, ambitious targets, if ever the Equans deal was to fall in your hand and you work to close it? Is it already something you look at in terms of, I don't know, accident rate, which is at the heart of the incentive of every employee at SPIE, and I think that's something you will have to implement at Equans as well. Is it something you already think of, or maybe it's too early? I was surprised that we had reached that point of the meeting without a question about Equans. Thank you, Nicolas. No, I think, clearly, as Isabelle has mentioned, we are the forerunner in terms of using the EU Taxonomy. We're also a lone runner, and nobody else has done it. Clearly when we look at Equans' business, it's not that different from what we do. We're in the same pond. We do not expect, if we were to calculate the green share, we would not expect something radically different from where we are at SPIE. Clearly, if we were to be successful in this deal, that would be an area of big interest to better understand and understand fast and be able to report fast on these issues. As I said, what doesn't get measured doesn't get managed, and if we want to grow our green share, it has to be measured from day one. We've got another question from the web. With the acceleration of your end markets and the positive impact on top line organic growth, do you expect positive impact on margins as well? Well, that's a question for my MDs, thanks for asking. I think our margins are going to progress further. This year, 2021, we will be back at a 6% margin, which was pre-COVID. Looking forward, we plan to move up from this level. I indicated that our short-term goal, which again, is shared with my colleagues from the Ex Com, is to be more into 6.5% level in not too distant a future. That will conclude our Q&A session. In that case, thanks a lot. I hope that those of you attending per Visio got a good impression of our commitment in this regard. Thanks for everyone who has taken part in preparing this meeting, and especially to our colleagues from the Ex Com, including, obviously, Jérôme, who have been very dedicated to prepare for this event. Thanks a lot. Have a good day.