Report
Christophe Chaput ...
  • Jean-Baptiste Rouphael

Spie : Toujours une forte génération de FCF et un potentiel ESG important au regard de l’efficacité énergétique

Dans un contexte de crise sanitaire aigue, Spie démontre le caractère résilient de son activité et de ses marges. Elles devraient rejoindre leur niveau normatif dans le courant de l’année 2021. Le FCF restera soutenu permettant de rejoindre un ratio de levier fin 2021 de 2.5x. A MT, Spie bénéficiera des plans de relance européen avec un fort potentiel ESG au regard de l’axe de l’efficacité énergétique. Achat et OC23.5 € vs 19.5 €. - >Démonstration d’une bonne résilience ...
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
Christophe Chaput

Jean-Baptiste Rouphael

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