Spie falls as Q3 organic growth disappoints

Spie SA

31/10/2024 08:39

** Shares in French energy company Spie  SPIE.PA  fall 5.3%
after the company reported Q3 results below consensus 
    ** J.P. Morgan says that weak organic Q3 is likely to be in
focus, despite FY24 EBITA margin upgrade and resilient momentum
in Germany 
    ** JPM points that Q3 organic growth came in at 1.7%
compared to consensus at 3.9%
    ** Jefferies says that growth faced very tough prior
year comps but slowed more than expected in all divisions
    ** "The organic print today is clearly disappointing with a
key focus on the call likely to be the momentum in France where
management calls out a slowdown in fibre activities" - JPM
    ** Up to the previous session's close, shares were up 23%​
YTD
    
  

 (Reporting by Marianna Ciabach-Malinowska)
 ((Marianna.ciabach@tr.com))