Investment presentation

Business

SPIE is Europe’s leading independent provider of multi-technical services, operating in the fields of electrical, mechanical and climate engineering, communication systems and energy-related specialist services. With more than 600 sites and around 47,000 employees around the world at 31 December 2017, the group helps its clients with the design, construction, operation and maintenance of energy-efficient and environmentally-friendly facilities. After the acquisition of SAG in late 2016, SPIE generates 38% of its revenue in France and 32% in Germany and Central Europe.

The group’s consolidated revenue totalled €6,127 million in 2017, up 24.0% because of the consolidation of SAG since 1 April 2017 (+19.0%) and a strong contribution from other acquisitions (+7.1%). SPIE’s operating income amounted to €388 million, up 13.5% relative to 2016. 102% of operating income was converted into operating cash flow, which totalled €395 million. Free cash flow amounted to €234 million. At end-2017, net debt was €1,532 million, an increase of more than €600 million because of the SAG acquisition.

FFP's Investment

FFP first acquired shares in SPIE, via its FFP Invest subsidiary, in September 2017. FFP increased its stake in the fourth quarter of 2017, making a total investment of €201 million.

At 31 December 2017, FFP Invest owned 5.5% of the group’s capital.

The value of the shareholding, for the purposes of Net Asset Value and the consolidated financial statements, is based on the share price at 31 December 2017.

FFP Invest, represented by Bertrand Finet, is a non-voting member of SPIE’s Supervisory Board.

Last update : 2017 December 31st