Slides
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Quarterly information as of September 30th, 2025 SPIE, sharing a vision for the future October 31st, 2025
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2 Disclaimer Certain information included in this presentation are not historical facts but are forward-looking statements. These forward-looking statements are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding present and future business strategies and the environment in which SPIE operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements, or industry results or other events, to be materially different from those expressed or implied by these forward-looking statements. Forward-looking statements speak only as of the date of this presentation and SPIE expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements included in this presentation to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Such forward-looking statements are for illustrative purposes only. Forward-looking information and statements are not guarantees of future performances and are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of SPIE. Actual results could differ materially from those expressed in, or implied or projected by, forward-looking information and statements. These risks and uncertainties include those discussed or identified under Chapter 2 “Risk factors and internal control” in SPIE’s 2024 Universal Registration Document, filed with the French Financial Markets Authority (AMF) on April 3rd, 2025, under number D.25-0216 which is available on the website of SPIE (www.spie.com) and of the AMF (www.amf-france.org). This presentation includes only summary information and does not purport to be comprehensive. No reliance should be placed on the accuracy or completeness of the information or opinions contained in this presentation. This presentation does not contain or constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, the United States or any other jurisdiction.
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3 • SPIE commissioned by the Institute for Federal Real Estate (BImA) to provide technical facility management services for the German Historical Museum (Berlin) for another five years • Ensuring consistent indoor climate across 23,000+ square metres, maintaining 130 niche air conditioning units and 3 cooling towers, allowing preservation of sensitive objects • SPIE also advises on ESG matters, such as energy issues, and develops and implements resource-saving measures Germany: further technical facility management contract for German Historical Museum in Berlin
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4 France: new national contract for covering cryogenic services in all nuclear power plants • National contract awarded to SPIE Nucléaire to provide temporary cryogenic sealing services across France's nuclear power plants • This technology uses freezing to temporarily isolate circuits that could otherwise only be taken out of operation during a full shutdown of the power station • Since March 2025, SPIE Nucléaire has worked on all of the piping for the 900 MW, 1300 MW and 1450 MW pressurised water reactors of France's nuclear power plants
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5 Netherlands: acquisition of Voets & Donkers, a specialist in cooling and air treatment systems • Strengthening SPIE’s expertise in industrial cooling installations, air treatment systems, heat pumps, industrial automation, and engineering of process equipment • 69 employees ; €30 million turnover in 2024 • Boosting SPIE’s presence in key growth markets such as food and pharma
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6 Austria: successful roll-out of an intelligent Traffic Management and Information System • Contract with Austrian highway operator ASFINAG, to supervise the 2,200+ km motorway network using one centralised system • Development of the system’s graphical user interface, allowing efficient management of tunnel systems, emergency call systems, traffic signs, lighting controls and monitoring equipment • New system integrates 33,000+ connected traffic units and c. 6 million interacting data points
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7 Global Services Energy: new contract on Taiwan Power Company (TPC) Offshore Wind Farm Phase II • Contract awarded on the termination and testing of the Inter-Array Cables (IACs) for TPC Phase II, at c. 20 km offshore from Changhua County, Taiwan • Beginning of works in August 2025 ; completion scheduled in 2026 • Phase II set to significantly expand Taiwan’s offshore wind portfolio, with 1,000 GWh of generated electricity annually (power needs of c.270,000 households) and reduced annual carbon dioxide emissions by 403,000+ metric tonnes
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Q3|9m 2025 Trading update
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9 M&A contribution +3.6% €255 million revenue contribution from bolt-on acquisitions Solid performance over the first 9 months Strong fundamentals and sustained market demand Full-year 2025 guidance confirmed Revenue growth +5.4% Organic growth +2.2%
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10 Financial highlights Q3 and 9m 2025 +4.7% revenue increase vs. Q3 2024 +1.8% organic growth vs. Q3 2024 5 Acquisitions announced YTD Notes: 1. FY 2024 annual revenue M&A activity+5.4% revenue increase vs. 9m 2024 +2.2% organic growth vs. 9m 2024 Revenue €7,519m c. €133m Annual revenue acquired 1
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11 9m 2025 Solid organic growth driven by Germany and NWE Germany France North-Western Europe Central Europe Group +11.8% +7.0% +9.6% -4.6% Total growth at constant FX +5.5%2.2% -4.6% 0.2% 6.5% -1.7% 5.0% 3.4% 9.4% 0.5% 1.1% 6.8% Organic growth Growth from acquisitions (net of disposals) Global Services Energy -0.6% 9m 2025 Group revenue growth excluding FX
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12 Germany Highly positive underlying trends across the board HIGHLIGHTS 9m 2025 revenue change Revenue (€m) 2,325.9 9m 2024 9m 2025 2,600.0 Organic Perimeter FX +11.8% +5.0% +6.8% - 35% of 9m 2025 revenue Quarterly information as of September 30th, 2025 9m 2025 revenue +11.8%, of which +5.0% organic growth • After exceptional growth in H1, High Voltage activities progressed at a more measured pace in Q3, in line with project scheduling • City Networks & Grid’s well supported by overall sustained demand from DSOs, while weighed down in Q3 by the uneven pace of fibre deployment • Technical Facility Management maintains its strong momentum • Building Solutions driven by dynamic markets, such as data centres and tunnel infrastructure • Information & Communication Services leveraged its broadened service offering • Industry services supported by recurring maintenance activities and energy projects The contribution from acquisitions, at +6.8%, follows a record year for bolt-on M&A in Germany in 2024
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13 France Strong resilience in a subdued local macroeconomic environment Organic Perimeter FX -1.7% +1.1% - -0.6% HIGHLIGHTS 9m 2025 revenue change Revenue (€m) 2,441.3 2,426.5 32% of 9m 2025 revenue 9m 2024 9m 2025 Quarterly information as of September 30th, 2025 Slight contraction of 9m 2025 revenue • Limited decline remained confined to City Networks (gradual wind-down of mature fibre optic roll-out programs) and Building Solutions • Technical FM capitalises on its stream of recurring revenues and long- standing client relationships • Industry and ICS proved extremely resilient thanks to diversified sector exposure, broad arrays of technical capabilities and the mission-critical nature of the services they provide • Nuclear Services delivered a solid performance over the first nine months
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14 North-Western Europe Strong performance in the Netherlands and Belgium HIGHLIGHTS Organic Perimeter FX +7.0% 9m 2025 revenue change +6.5% +0.5% - Revenue (€m) 1,436.8 9m 2024 9m 2025 1,537.5 20% of 9m 2025 revenue Quarterly information as of September 30th, 2025 The Netherlands delivered a strong performance over 9m 2025 • Strong performance, despite a demanding comparison base in High Voltage services and phasing effects in Q3. The backlog kept building up, fuelled by high structural demand linked to the energy transition and grid expansion. • Building Solutions continued to benefit from a steady flow of recurring activity, supported by growing needs in energy efficiency • ICS posted strong growth, capitalizing on its strengthened position in data centre services, bolstered by recent acquisitions • Industry services delivered a solid performance, with strategic exposure to high-growth sectors tempered by structural pressure in the petrochemical sector Belgium maintained a strong growth trajectory • High Voltage remained very dynamic • Building Solutions and Technical FM continued to perform particularly well
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15 Central Europe Sharp acceleration in Q3, confirming anticipated positive inflection HIGHLIGHTS Revenue (€m) 549.1 9m 2024 9m 2025 606.6 Organic Perimeter FX +10.5% 9m 2025 revenue change +0.2% +9.4% +0.9% 8% of 9m 2025 revenue Quarterly information as of September 30th, 2025 Revenue surged by +30.4% in Q3 2025, marking a clear turning point with organic growth accelerating to near double-digit levels • Poland and Slovakia confirmed the anticipated positive inflection in organic growth, with a sharp acceleration, driven by High Voltage activities, as the substantial backlog began to convert into revenue • Austria maintained a high level of activity, building on strong momentum in transport infrastructure and Transmission & Distribution services Sustained M&A activity in Poland since the start of the year
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16 Global Services Energy High comparison base and selective contract acquisition 9m 2025 revenue change Organic Perimeter FX -4.6% - -3.2% HIGHLIGHTS -7.8% Revenue (€m) 377.6 9m 2024 9m 2025 348.2 5% of 9m 2025 revenue Quarterly information as of September 30th, 2025 9m 2025 revenue decline reflecting a particularly high comparison base, as H1 2024 benefited from an exceptional shutdown maintenance operation in West Africa • Oil & gas maintenance activities were resilient, supported by a tailored service-offering and long-standing client relationships • Selective approach to contract acquisition in a currently low barrel price environment, to ensure healthy margins across geographies • Offshore wind activities continued to gain traction, benefiting from strengthened market positioning and expanded technical capabilities, following the successful integration of Correll Group Unfavourable currency effects, mainly due to the weakening of the US dollar against the Euro
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17 SHARE FOR YOU 2025 A great success of SPIE’s employee shareholding plan c. 25,000 Employees participating from 17 countries +16% vs. 2024 > 6,000 Employees participating for the 1st time Employee shareholding estimated at c.8% of SPIE’s capital (post SFY 2025) 90.0% 10.0% •8% Employees •2% Management SPIE Public Estimated shareholder structure post SFY 2025 Note: Final results of the SHARE FOR YOU 2025 plan will be communicated in December 2025 upon completion of the related capital inc rease
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Q3|9m 2025 Highlights
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19 Revenue bridge 9m 2024 Organic growth Acquisitions Disposals FX 9m 2025 €m +5.5% Total growth at constant FX +2.2% +3.6% -0.2% +5.4% -0.1% 7,131 7,519
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20 Sustained bolt-on M&A activity Reinforcing leadership in attractive markets c. €133m Cumulative full-year revenue acquired 5 Acquisitions announced YTD City Networks and Grids€70m1 ICT Services & Specials€7m1 Building Technology and Automation€19m1 Note: 1. FY 2024 annual revenue Robust pipeline on highly fragmented markets Closed on June 3rd, 2025 Closed on June 30th, 2025 Closed on July 15th, 2025 Integration of all 2024 acquisitions progressing well and in line with plan Specialised industrial services€30m1 Closed on August 8th, 2025 Tunnel and traffic engineering€7m1 Closing expected by end of 2025
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2025 Outlook
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22 2025 outlook confirmed Note: 1. Adjusted for i) operating income items restated from the Group’s EBITA, ii) the change in fair value and amortisation costs of derivative r elated to the ORNANE, and iii) the corresponding normative tax income adjustment Continued expansion of EBITA margin to at least 7.6% Strong total growth, pushing Group revenue well above the €10bn mark ✓ Further organic growth ✓ Active bolt-on M&A Proposed dividend at c.40% of Adjusted net income1 attributable to the Group
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Appendix
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24 Quarterly organic growth by segment In millions of euros Q1 2025 Q2 2025 H1 2025 Q3 2025 9m2025 Germany +7.2% +6.0% +6.6% +2.1% +5.0% France -2.1% -1.9% -2.0% -1.0% -1.7% North-Western Europe +7.5% +8.6% +8.1% +3.2% +6.5% Central Europe -4.1% -4.2% -4.1% +9.9% +0.2% Global Services Energy -10.0% -2.8% -6.5% -0.2% -4.6% Group revenue +2.1% +2.6% +2.4% +1.8% +2.2%
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25 Q3 2025 revenue growth by segment In millions of euros Q3 2025 Q3 2024 Change o/w organic growth o/w external growth o/w disposals o/w foreign exchange Germany 922.0 866.7 +6.4% +2.1% +4.2% - - France 791.1 791.8 -0.1% -1.0% +0.9% - - North-Western Europe 498.4 482.8 +3.2% +3.2% +1.0% -1.0% - Central Europe 220.8 169.3 +30.4% +9.9% +19.2% - +1.3% Global Services Energy 107.7 115.5 -6.8% -0.2% - - -6.6% Group revenue 2,539.9 2,426.2 +4.7% +1.8% +3.4% -0.2% -0.2%
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26 9m 2025 revenue growth by segment In millions of euros 9m 2025 9m 2024 Change o/w organic growth o/w external growth o/w disposals o/w foreign exchange Germany 2,600.0 2,325.9 +11.8% +5.0% +6.8% - - France 2,426.5 2,441.3 -0.6% -1.7% +1.1% - - North-Western Europe 1,537.5 1,436.8 +7.0% +6.5% +1.8% -1.2% - Central Europe 606.6 549.1 +10.5% +0.2% +9.4% - +0.9% Global Services Energy 348.2 377.6 -7.8% -4.6% - - -3.2% Group revenue 7,518.7 7,130.7 +5.4% +2.2% +3.6% -0.2% -0.1%
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27 Income statement bridges €m 9m 2025 9m 2024 Revenue as per management accounts 7,518.7 7,130.7 Holdings activities 17.7 20.5 Contribution of companies not yet consolidated1 - (8.9) Others 0.6 1.5 Revenue under IFRS 7,537.0 7,143.8 Revenue to Revenue under IFRS Note: 1. This amount corresponds to the revenue from the acquisition of MBG, which has not yet been consolidated as of September 30th, 2024
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28 SPIE 2025 Investor Day Replay available here Financial schedule 2025 Full-Year Results March 6th, 2026 Quarterly information as at March 31st, 2026 April 24th, 2026 Annual General Meeting April 30th, 2026 2026 Half-Year Results July 30th, 2026 Quarterly information as at September 30th, 2026 October 30th, 2026 Investor Relations investors@spie.com @SPIE IR application Available for iPad, iPhone and Android devices IR IR contact details SPIE 2022 Investor Day Focus on MT perspectives Replay available here