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SPIE (SPIE) investor relations material
SPIE Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong H1 2026 results with revenue of €5,157 million, up 3.6% year-over-year, driven by organic growth rebound in Q2 and robust M&A execution, notably in Germany and Central Europe.
EBITA rose 6.9% to €321.4 million, with margin expanding by 20 bps to 6.2%.
Adjusted net income increased 11.9% to €187 million; reported net income rebounded to €112 million from a loss in H1 2025.
Five bolt-on acquisitions announced in H1, adding €670 million in annual revenue, supporting growth and footprint densification.
Fitch upgraded long-term credit rating to Investment Grade (BBB-, Stable Outlook); €600 million sustainability-linked bond issued, extending debt maturity to 2031.
Financial highlights
Revenue: €5,157 million (+3.6% year-over-year); organic growth 1.2%, M&A 2.7%.
EBITA: €321.4 million (+6.9%); EBITA margin: 6.2% (+20 bps year-over-year).
Adjusted net income: €187 million (+11.9%); reported net income: €112 million (vs. loss in H1 2025).
Free cash flow turned positive at €25.7 million, a €133 million improvement year-over-year.
Leverage ratio (excl. IFRS 16): 2.1x (up from 1.9x in June 2025), reflecting M&A activity.
Outlook and guidance
2026 outlook confirmed: strong total growth expected, driven by organic growth and active bolt-on M&A.
Continued EBITA margin expansion anticipated.
Dividend payout ratio to remain at approximately 40% of adjusted net income.
- Record growth, higher dividends, and ambitious sustainability targets marked this AGM.SPIE
AGM 2025 - Q1 2026 revenue rose 1.7%, driven by M&A and resilience despite weather and geopolitical impacts.SPIE
Q1 2026 - Record profitability, strong cash flow, and upgraded margin targets driven by German growth.SPIE
Q4 2025 - 9M 2025 revenue up 5.4% to €7.5bn, outlook confirmed with strong growth and acquisitions.SPIE
Q3 2025 - Revenue up 13.9% to EUR 7.13bn; EBITA/EBITDA margin guidance raised to 7.1% for FY 2024.SPIE
Q3 2024 - H1 2024 saw 14.4% revenue and 20.7% EBITA growth, with margin guidance raised to 7%.SPIE
Q2 2024 - Aiming for 7–9% growth, 7.7% margin, €2bn+ cash flow, led by M&A and sustainability.SPIE
CMD 2025 - Q1 2025 revenue up 8.5%, driven by Germany and M&A, with 2025 outlook reaffirmed.SPIE
Q1 2025 - Record revenue and EBITA growth in 2024, with strong momentum and margin expansion for 2025.SPIE
Q4 2024
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