SPIE (SPIE) AGM 2025 summary

Opening remarks and agenda

• The meeting was convened with proper legal notice, chaired by the board, and attended by key executives and legal representatives.

• The agenda included financial highlights, sustainability objectives, director 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.

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

• Eight acquisitions contributed EUR 457 million in annual revenue; leverage ratio stands at 1.6x EBITDA.

• Liquidity remains strong at EUR 1.6 billion, with stable debt costs and positive credit outlook.

Board and executive committee updates

• Board recommended renewal and appointment of several directors, increasing board size to 12, with 8 independent and 50% women.

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

• Succession planning and risk management were highlighted as well-organized and effective.