Report
Pierre François Merveille

SPIE : All systems go

SPIE boasts solid fundamentals. Organic growth in production (ODDO BHF estimates of +8% in 2023 and +5% in 2024) is driven by demand for energy transition/efficiency services, low exposure to sectors hit by the economic downturn (such as residential property) and a proven capacity to pass on inflation to customers. We also expect margins to grow steadily (+30bp to 6.6% in 2023 then +20bp to 6.8% in 2024), buoyed by a selective approach to contracts, price hikes and the accretive ...
Underlying
SPIE SA

Spie is a provider of electrical engineering and IT services and an infrastructure and building contractor. Co. helps to design, finance, manage and implement an array of projects ranging from high-speed TGV and conventional rail lines to metros and light rail systems. In addition, Co. offers telecom and information network services. Through the Commercial Segment, Co. is engaged in construction and renovation projects. Co. also offers wired building services as well as multi-disciplinary industrial maintenance and facilities management solutions.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Pierre François Merveille

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