Spie announces a 2020 profit divided by three under the effect of the health crisis

The multi-technical services group for companies and communities Spie saw its net profit divided by three in 2020 under the effect of the coronavirus pandemic, which mainly affected it at the start of the year, but indicates that it is approaching 2021 "with trust".

Its turnover fell 4,7% to 6,6 billion euros, for a net profit of 53 million (-64,7%).

It had plunged 17,1% in the second quarter linked to containment measures in particular in France, Belgium and the United Kingdom, while Germany and northwestern Europe (the Netherlands) resisted better. Activity then resumed, despite tightening restrictions at the end of the period in most of the countries where the group operates (Europe).

Operating profit (Ebita) was 339 million euros, down 18,9%. The margin is ultimately maintained at 5,1% of activity (6% in 2019), thanks to cost reduction measures and the gradual passing on to customers of the expenses generated by the health situation, says Spie.

The CEO Gauthier Louette highlights "the remarkable resilience" of the results, thanks to the "strengths of the model": "the essential character of our services, the balance of our geographical distribution, our rigorous management in terms of health and safety, and the unwavering commitment of our teams ".

"Spie comes out of 2020 with intact fundamentals, a strengthened financial situation, even stronger relationships with its customers, and is well positioned to support the energy transition and digital transformation. We are entering 2021 with confidence," added the boss. of a press conference.

After this "very hectic year", Spie expects in 2021 a "strong rebound" in turnover and EBITA margin, expected "very close to 2019 levels".

The group will also "reconnect with acquisitions", in particular in Germany where it has been developing since 2013 and where it now occupies 2nd place in its sector, according to the CEO: it was necessary "to have a strong presence in the first economy of Europe. German industry is three times French industry, so the field of possibilities is considerable. We still have room to double our activity there "

According to Mr. Louette, overall, "acquisitions, small and medium, have contributed each year since 2006 to approximately 3,5% of sales growth".

This group of 45.000 employees provides electrical and mechanical engineering services, particularly in energy efficiency, green mobility, communication technologies: connection of wind or photovoltaic parks, data center equipment, public lighting, etc.

Spie considers itself "well positioned to benefit from future green stimulus investments."

On the community side, the group is seeing strong demand, in particular for the installation of optical fiber, electric vehicle charging stations (Spie won a contract with Grand Paris, to re-equip the old Autolib network), or even IT equipment for middle and high schools.

According to the European taxonomy of sustainable activities, the green part of its activity is 41%.