SPIE (SPIE) AGM 2025 summary

Opening remarks and agenda

• The AGM was convened with all legal requirements met, and the session was webcast for transparency.

• The meeting officers and tellers were appointed, and the quorum was confirmed at 74.38% of voting rights, enabling all decisions.

• The agenda included financial highlights, sustainability objectives, board appointments, compensation, auditor reports, Q&A, and voting on resolutions.

Financial performance review

• Revenue reached EUR 9.9 billion in 2024, with 13.7% total growth and 4.3% organic growth.

• EBITDA margin improved by 50 basis points to 7.2%, and free cash flow hit EUR 570 million.

• Eight acquisitions contributed EUR 457 million in annual revenue; Germany became the largest segment.

• Adjusted EPS rose to EUR 2.5, up over 20%, and net adjusted income increased 22% to EUR 420 million.

• Leverage ratio stood at 1.6x EBITDA, with liquidity at EUR 1.6 billion and stable debt costs.

Board and executive committee updates

• Board proposed renewal and appointment of several directors, increasing independent directors to 8 and achieving gender parity.

• CEO compensation structure maintained, with variable pay based on financial, CSR, and risk management criteria.

• Compensation policy for directors remains unchanged for 2025, following benchmarking.