Solid Performance Noted in the First Nine Months
The first three quarters of 2025 have been marked by solid performance, confirming the continued resilience and strength of SPIE. The underlying trends in both energy transition and digital transformation have fueled the growth, showcasing the company’s adaptability in a rapidly changing market.
Growth Metrics Highlighted
Impressive 9-Month Revenue Increase Driven by Key Markets
- Revenue reached €7,518.7 million, indicating a robust year-on-year growth of +5.4%. This includes +3.6% growth attributable to strategic acquisitions and +2.2% from organic growth, with Germany contributing a notable +5.0% and North-Western Europe achieving +6.5%.
- Market demand has remained strong, supported by two crucial structural drivers: the ongoing shift towards energy efficiency and the acceleration of digital innovation.
- In the third quarter of 2025, revenue increased by +4.7%, complemented by +1.8% organic growth. This trend reflects a healthy order intake and a substantial backlog in high-voltage projects.
- Despite a challenging macroeconomic environment, France has shown commendable resilience, maintaining strong operational performance.
- Central Europe has confirmed growth, driven by successful conversion of high-voltage backlogs into significant revenue.
Sustained M&A Strategy Enhances Market Position
Successful Integration and Acquisition Pipeline
- The integration of acquisitions made in 2024 has progressed smoothly, with M&A contributing approximately €800 million to revenue, showcasing SPIE's strategic foresight.
- This year alone, five bolt-on acquisitions have been signed, collectively representing annual revenue of €133 million across appealing markets such as Poland, Switzerland, the Netherlands, and Austria.
- Combining contributions from both 2024 and 2025 acquisitions illustrates a total addition of €255 million in revenue growth for the first nine months of this year.
- SPIE remains committed to an active bolt-on M&A strategy, buoyed by a robust pipeline of potential opportunities in a fragmented market landscape.
Outlook for 2025 Reaffirmed
Strategic Growth Targets Set
- SPIE is positioned to achieve substantial total growth, aiming to exceed the €10 billion revenue mark, with further organic growth anticipated, complemented by an active M&A strategy.
- Moreover, the company is set to expand its EBITA margin to at least 7.6%, establishing a sound financial foundation for future endeavors.
CEO Insights on Company Strategy
Gauthier Louette, Chairman & CEO, stated, “SPIE delivered a solid performance during the first nine months, highlighting the robustness of our operational model across diverse verticals and geographies. Our long-term prospects are shaped by enduring demand driven by energy transition and digital transformation—two pivotal trends that enhance our visibility in today’s complex geopolitical and economic environment. The seamless integration of our 2024 acquisitions reinforces our market position as we continue to pursue attractive opportunities. With strong cash generation enabling disciplined growth, SPIE is on track to meet its strategic objectives for 2025 and foster long-term value creation.”
About SPIE
SPIE is recognized as the leading independent provider of multi-technical services across Europe, particularly focusing on energy and communications sectors. The dedicated workforce of 55,000 employees at SPIE is committed to advancing the decarbonization of our economy and supporting the essential transitions in energy and digital transformation. For the fiscal year 2024, SPIE achieved consolidated revenue of €9.9 billion and an EBITA of €712 million, reflecting its established market leadership and proactive approach towards sustainable operations.
Frequently Asked Questions
What were SPIE's revenue figures for the first nine months of 2025?
SPIE reported revenues of €7,518.7 million, which marks a growth of +5.4% year-on-year.
Which markets contributed most to SPIE’s revenue growth?
Germany and North-Western Europe were key contributors to revenue growth, with increases of +5.0% and +6.5%, respectively.
How is SPIE planning to achieve its 2025 revenue goals?
SPIE aims to exceed €10 billion in revenues through a combination of organic growth and its active bolt-on M&A strategy.
What is SPIE’s approach to mergers and acquisitions?
SPIE has a focused bolt-on M&A strategy supported by a healthy pipeline of opportunities, enhancing its operational capabilities and market reach.
How does SPIE contribute to sustainable practices?
SPIE is committed to supporting the energy transition and making strides in responsible digital transformation as part of its mission to decarbonize the economy.
