Full Year 2021 Spie SA Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Oscar Val Mas - JPMorgan Chase & Co, Research Division - Analyst : Good luck in the future, Michel. I have 3 questions. I guess, the first one going back on inflation. You talked about wage inflation you saw in 2021. Could you give us a sense of the wage inflation you think you will see in 2022? That's the first question. And then the second question is around employee scarcity. In the past, it's been an issue of finding electricians. Is that still an issue in some regions? And then the third question, again, is going back on M&A. First of all, just to understand, was the Worksphere acquisition competitive and who were you bidding against? And then the second question there would be, when you look at your pipeline, are they mostly bolt-ons? Or should we think about some medium-sized deals as well potentially coming in?

Question: Oscar Val Mas - JPMorgan Chase & Co, Research Division - Analyst : Very clear on M&A. Maybe, just a quick follow-up on the inflation. It wasn't 2023, it was 2022. Should we think about '22 inflation, cost inflation on the wage side as being locked in already with the employees? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 11, 2022 / 8:00AM, SPIE.PA - Full Year 2021 Spie SA Earnings Call

Question: Nicolas Tabor - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst : The first one would be try and have, let's say, comparison of trading a bit between what you saw in the beginning of the year, maybe -- so maybe you start seeing a catch-up in ICS on the ground. But what are the latest news you received from your teams over the past week? I mean, we received news from other companies that supply chain disruptions are increasing more and more with Ukraine. With going into semis and so on and then discovering that truck drivers in Eastern Europe were actually Ukrainians. With snowball effect, do you see some pressure at your client facilities? That means that they will need less, I don't know, increased installation and so on. And therefore, we slow down your activity? Do you see this kind of risk at the moment? Or did you -- don't get any feedback from your clients for now? And then the second question would be on Worksphere. So there was a slight revenue decline in 2021 versus 2020. Why is that? And do you -- what kind of growth do you expect in 2022 for Worksphere? And then finally, in terms of the green deal first impact, what are you seeing in terms of rate of new tenders? And when do you see the first material impact on your revenue growth?