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SGS Industrial Services Inc.

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Namestring
SGS Industrial Services Inc.
Legal namestring
SGS Industrial Services GmbH
Company typeenum
Private
Founded yearint
2004
Descriptiontext

SGS Industrial Services GmbH is an Austrian-headquartered industrial assembly contractor that delivers mechanical assembly, electrical installation, pipeline construction, plant relocation and overhaul, construction management, and EPC project management services for manufacturers and operators of industrial machinery and plants. The company operates from its headquarters in Dorf an der Pram, Upper Austria, and executes projects internationally through approximately 800 employees deployed from 16 branches across Austria, Germany, the UK, the USA, Slovakia, Poland, and the Czech Republic, with active project work extending into Mexico, Australia, France, Hungary, Belgium, Italy, and South Africa.

Its core technical capability is the on-site execution of large, multi-discipline industrial installations — typically involving crews of 60–200 specialized personnel on engagements spanning 9–24 months — for major OEMs and utilities in energy (CCGT and CHP power plants for Siemens Energy, Mitsubishi Power, Wärtsilä), metallurgy (Voestalpine, Primetals, ANDRITZ), wood-based materials and paper (Model Group, PG Bison, Unilin, FORTE), and logistics/automotive (WITRON). The company's differentiators are its experienced assembly workforce, accumulated procedural know-how across 1,000+ completed projects, and its ability to mobilize internationally on demanding timelines.

SGS generates revenue through project-based B2B contracts secured via competitive tendering and direct enterprise relationships with industrial OEMs and utilities; pricing is negotiated per project and contracts typically span multi-year durations. The company reported approximately €180 million in 2025 revenue with margins above 10%. In March 2026, SPIE SA — the independent European leader in multi-technical services — signed an agreement to acquire SGS Industrial Services Group, with closing expected by the end of June 2026 subject to antitrust approval. The group operates through core subsidiaries SGS Industriedienstleistung GmbH (SGS IDL, in-group equipment supply), Bähr Anlagenbau GmbH (Germany, acquired December 2019, electrical installation), and SGS emont k.s. (Slovakia, acquired April 2022, ~60 employees).

Short descriptiontext

SGS Industrial Services is an Austrian-headquartered industrial assembly contractor delivering mechanical, electrical, pipeline, and EPC project management services to energy, metallurgy, wood/paper, and logistics OEMs and utilities across Europe and internationally with ~800 employees.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
101–250
akta.pro rankint
HeadquartersDorf An Der Pram, Austria
HQ citystring
Dorf An Der Pram
HQ countrystring
Austria
HQ regionstring
Europe
Markets served

Serves global market

Offices5 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
industrial assembly services, mechanical installation services, electrical installation services, pipeline construction services, plant relocation services
Industry5 codes
1Balance-of-Plant (BOP) & Civil Works for Power Plants
CodeEUAEAAALPrimaryYes
2Power Plant Electrical Systems EPC (Switchyard, Transformers, Protection & Controls)
CodeEUAEAAAMPrimaryNo
3Process Plant & Materials Handling EPC (Crushing, Conveying, Stockpiles, Loadout)
CodeIMAKAOAEPrimaryNo
4Substation & Interconnection EPC (Collector/POI Substations, Switchyards)
CodeEUAEADACPrimaryNo
5Industrial/Process Plant General Contracting
CodeIMAFAAAHPrimaryNo
NAICS code3 codes
  • Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables334513
  • All Other Industrial Machinery Manufacturing333248
  • Machinery Manufacturing333
SIC code3 codes
  • Electrical Industrial Apparatus3620
  • Industrial Instruments For Measurement, Display, And Control3823
  • General Industrial Machinery & Equipment, Nec3569
Product category
Industrial Assembly Services
Social media profiles1 record
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model1 record
1Industrial Assembly & Installation Services
TypeProfessional Services
Description

SGS generates revenue through project-based fees for industrial assembly and installation services delivered to manufacturers and operators of machines and systems. Services include mechanical assembly, electrical installation, pipeline construction, plant relocation, construction supervision, and project management. Revenue is project-based and non-recurring per project, though ongoing relationships with major clients drive repeat business. The company reported approximately €180 million in revenue in 2025 with margins above 10%.

globenewswire.com
Marketing channels6 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels1 record

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales
Pricing details1 tier
1Project-based industrial services — pricing negotiated per contract
ModelOtherBilling cadenceMulti-year contract
Notes

No public pricing. Services are quoted and contracted on a project-by-project basis for industrial assembly, electrical installation, pipeline construction, and related services. Revenue model is entirely B2B professional services.

sgs-industrial.com
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

SGS Industrial Services delivers on-site industrial assembly and installation services for manufacturers and operators of machinery, equipment, and process plants. The offering covers mechanical assembly, electrical installation, pipeline construction, plant relocation and overhaul, construction management and supervision, and EPC project management. Projects are executed by SGS's own workforce at client sites across Europe, the US, and other international markets.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 5 values shown
  • SGS assembled the Herne CCGT plant achieving >85% fuel efficiency for STEAG — among the most efficient and eco-friendly gas turbine plants globally
+4 more records
Product overview1 text field

SGS Industrial Services is an industrial assembly services provider offering a portfolio of core services for manufacturers and operators of machinery and equipment. The company delivers international industrial assembly and project services through six integrated service offerings: Mechanical Assembly, Electrical Installation, Pipeline Assembly, Plant Relocation & Overhaul, Construction Management & Supervision, and EPC Project Management. These services serve clients across eight industry sectors: Energy, Metallurgy, Wood & Sawmill, Wood-based Materials, Stone/Earth/Cement, Logistics/Machine Engineering & Automotive, Environmental Technology, and Paper. The company operates internationally with offices in Austria (headquarters), Germany, Poland, Czech Republic, Slovakia, and the USA. SGS Industrial Services is being acquired by SPIE SA, a European multi-technical services leader, with the transaction expected to close by end of June 2026.

Product and service1 record
1Mechanical Assembly
Scale indicator6 records

Each record includes

Type, Value, Description, Source

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight6 records

Each record includes

Type, Description

Peers10 records
TypeDirect peer
Description

European leader in multi-technical services (electrical, mechanical, HVAC, industrial services). Direct peer in DACH industrial services; also SGS's pending acquirer (announced March 2026, expected close by end of June 2026) for ~€180M of acquired revenue.

TypeDirect peer
Description

German-headquartered industrial services provider focused on process industry and energy customers. Closest direct competitor in DACH for industrial assembly, maintenance, and EPC services to operators and OEMs in power, chemicals, and metallurgy.

3Stork (a Fluor company)
TypeDirect peer
Description

Fluor-owned industrial services contractor delivering mechanical, electrical, and instrumentation services across Europe and the Americas. Highly comparable business model for on-site industrial assembly and E&IC execution for energy and process plants.

TypeBroad incumbent
Description

European multi-technical services arm of VINCI, providing industrial, electrical, and infrastructure services. Broader incumbent with overlapping capabilities in industrial assembly and electrical installation for energy and process customers.

TypeBroad incumbent
Description

Multi-technical services subsidiary of ENGIE with strong DACH and broader European presence in industrial services, electrical installation, and facility management. Provides competing industrial services to energy and process industry clients.

TypeBroad incumbent
Description

French multi-technical services firm with significant German operations, providing electrical installation, industrial automation, and energy infrastructure services. Comparable in scope of multi-disciplinary industrial services to SGS.

TypeBroad incumbent
Description

Global energy, chemicals, and resources project services company. Overlaps with SGS in power generation EPC and process plant assembly work, though at much larger scale and with broader geographic/diversified exposure.

TypeDirect peer
Description

North American specialty contractor providing electrical construction (T&D, commercial, industrial) for power, industrial, and renewable customers. Directly comparable specialty electrical construction services and similar project-based business model.

TypeBroad incumbent
Description

Largest pure-play infrastructure services firm in North America, including energy T&D and renewable BoS services. Provides overlapping industrial and power infrastructure construction capabilities at much larger scale.

TypeBroad incumbent
Description

U.S. leader in mechanical and electrical construction, facility services, and industrial services. Comparable business model for industrial mechanical/electrical assembly and project execution across energy, industrial, and process customers.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat5 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers16 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment4 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

Integration9 records

Each record includes

Title, Type, Description, Source

AI maturity
App detail

Has app

Feature4 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles3 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

Subsidiaries3 records

Each record includes

Name, Acquired on, Relationship type, Type, Business focus

Compliance1 record

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

SGS Industrial Services Inc.

Industrial Assembly Servicessgs-industrial.com

SGS Industrial Services is an Austrian-headquartered industrial assembly contractor delivering mechanical, electrical, pipeline, and EPC project management services to energy, metallurgy, wood/paper, and logistics OEMs and utilities across Europe and internationally with ~800 employees.

What SGS Industrial Services Inc. does

SGS Industrial Services GmbH is an Austrian-headquartered industrial assembly contractor that delivers mechanical assembly, electrical installation, pipeline construction, plant relocation and overhaul, construction management, and EPC project management services for manufacturers and operators of industrial machinery and plants. The company operates from its headquarters in Dorf an der Pram, Upper Austria, and executes projects internationally through approximately 800 employees deployed from 16 branches across Austria, Germany, the UK, the USA, Slovakia, Poland, and the Czech Republic, with active project work extending into Mexico, Australia, France, Hungary, Belgium, Italy, and South Africa.

Its core technical capability is the on-site execution of large, multi-discipline industrial installations — typically involving crews of 60–200 specialized personnel on engagements spanning 9–24 months — for major OEMs and utilities in energy (CCGT and CHP power plants for Siemens Energy, Mitsubishi Power, Wärtsilä), metallurgy (Voestalpine, Primetals, ANDRITZ), wood-based materials and paper (Model Group, PG Bison, Unilin, FORTE), and logistics/automotive (WITRON). The company's differentiators are its experienced assembly workforce, accumulated procedural know-how across 1,000+ completed projects, and its ability to mobilize internationally on demanding timelines.

SGS generates revenue through project-based B2B contracts secured via competitive tendering and direct enterprise relationships with industrial OEMs and utilities; pricing is negotiated per project and contracts typically span multi-year durations. The company reported approximately €180 million in 2025 revenue with margins above 10%. In March 2026, SPIE SA — the independent European leader in multi-technical services — signed an agreement to acquire SGS Industrial Services Group, with closing expected by the end of June 2026 subject to antitrust approval. The group operates through core subsidiaries SGS Industriedienstleistung GmbH (SGS IDL, in-group equipment supply), Bähr Anlagenbau GmbH (Germany, acquired December 2019, electrical installation), and SGS emont k.s. (Slovakia, acquired April 2022, ~60 employees).

SGS Industrial Services Inc. firmographics

Firmographics
Name
SGS Industrial Services Inc.
Legal name
SGS Industrial Services GmbH
Website
https://sgs-industrial.com
Company type
Private
Founded year
2004
Operating status
Operating
Headcount range
101–250 employees
Short description
SGS Industrial Services is an Austrian-headquartered industrial assembly contractor delivering mechanical, electrical, pipeline, and EPC project management services to energy, metallurgy, wood/paper, and logistics OEMs and utilities across Europe and internationally with ~800 employees.
Ownership category
akta.pro rank

SGS Industrial Services Inc. industry classification

Industry
Product category
Industrial Assembly Services
NAICS
Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables (334513), All Other Industrial Machinery Manufacturing (333248), Machinery Manufacturing (333)
SIC
Electrical Industrial Apparatus (3620), Industrial Instruments For Measurement, Display, And Control (3823), General Industrial Machinery & Equipment, Nec (3569)
akta.pro primary industry
Balance-of-Plant (BOP) & Civil Works for Power Plants (EUAEAAAL)
akta.pro secondary industries
Power Plant Electrical Systems EPC (Switchyard, Transformers, Protection & Controls) (EUAEAAAM), Process Plant & Materials Handling EPC (Crushing, Conveying, Stockpiles, Loadout) (IMAKAOAE), Substation & Interconnection EPC (Collector/POI Substations, Switchyards) (EUAEADAC), Industrial/Process Plant General Contracting (IMAFAAAH)

Keywords

  • Industrial assembly services
  • Mechanical installation services
  • Electrical installation services
  • Pipeline construction services
  • Plant relocation services

Where SGS Industrial Services Inc. is headquartered

Location

Headquarters

HQ city
Dorf An Der Pram
HQ country
Austria
HQ region
Europe

Offices5 records

Markets served

SGS Industrial Services Inc. business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

  1. Industrial Assembly & Installation Services: SGS generates revenue through project-based fees for industrial assembly and installation services delivered to manufacturers and operators of machines and systems. Services include mechanical assembly, electrical installation, pipeline construction, plant relocation, construction supervision, and project management. Revenue is project-based and non-recurring per project, though ongoing relationships with major clients drive repeat business. The company reported approximately €180 million in revenue in 2025 with margins above 10%.

Pricing tiers

ModelBillingPrice
OtherMulti-year contractProject-based industrial services — pricing negotiated per contract

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

SGS Industrial Services Inc. product offering

Product offering

Core offering

SGS Industrial Services delivers on-site industrial assembly and installation services for manufacturers and operators of machinery, equipment, and process plants. The offering covers mechanical assembly, electrical installation, pipeline construction, plant relocation and overhaul, construction management and supervision, and EPC project management. Projects are executed by SGS's own workforce at client sites across Europe, the US, and other international markets.

Product overview

SGS Industrial Services is an industrial assembly services provider offering a portfolio of core services for manufacturers and operators of machinery and equipment. The company delivers international industrial assembly and project services through six integrated service offerings: Mechanical Assembly, Electrical Installation, Pipeline Assembly, Plant Relocation & Overhaul, Construction Management & Supervision, and EPC Project Management. These services serve clients across eight industry sectors: Energy, Metallurgy, Wood & Sawmill, Wood-based Materials, Stone/Earth/Cement, Logistics/Machine Engineering & Automotive, Environmental Technology, and Paper. The company operates internationally with offices in Austria (headquarters), Germany, Poland, Czech Republic, Slovakia, and the USA. SGS Industrial Services is being acquired by SPIE SA, a European multi-technical services leader, with the transaction expected to close by end of June 2026.

Differentiator

Problem solved

Functional benefit

Products and services

  • Mechanical Assembly

Quantifiable outcome

  • SGS assembled the Herne CCGT plant achieving >85% fuel efficiency for STEAG — among the most efficient and eco-friendly gas turbine plants globally
  • +4 more outcomes

Companies that use SGS Industrial Services Inc.

Customer profile

Named customers16 records

Segments4 records

Ideal customer profiles2 records

SGS Industrial Services Inc. technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Integration9 records

Feature4 records

SGS Industrial Services Inc. partnerships and signals

Strategic signal

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

SGS Industrial Services Inc. competitors and assessment

Company assessment

Direct peers

  • SPIE SA: European leader in multi-technical services (electrical, mechanical, HVAC, industrial services). Direct peer in DACH industrial services; also SGS's pending acquirer (announced March 2026, expected close by end of June 2026) for ~€180M of acquired revenue.
  • Bilfinger SE: German-headquartered industrial services provider focused on process industry and energy customers. Closest direct competitor in DACH for industrial assembly, maintenance, and EPC services to operators and OEMs in power, chemicals, and metallurgy.
  • Stork (a Fluor company): Fluor-owned industrial services contractor delivering mechanical, electrical, and instrumentation services across Europe and the Americas. Highly comparable business model for on-site industrial assembly and E&IC execution for energy and process plants.
  • MYR Group Inc. North American specialty contractor providing electrical construction (T&D, commercial, industrial) for power, industrial, and renewable customers. Directly comparable specialty electrical construction services and similar project-based business model.

Broad incumbents

  • Vinci Energies: European multi-technical services arm of VINCI, providing industrial, electrical, and infrastructure services. Broader incumbent with overlapping capabilities in industrial assembly and electrical installation for energy and process customers.
  • ENGIE Solutions: Multi-technical services subsidiary of ENGIE with strong DACH and broader European presence in industrial services, electrical installation, and facility management. Provides competing industrial services to energy and process industry clients.
  • Eiffage Énergie Systèmes: French multi-technical services firm with significant German operations, providing electrical installation, industrial automation, and energy infrastructure services. Comparable in scope of multi-disciplinary industrial services to SGS.
  • Worley Limited: Global energy, chemicals, and resources project services company. Overlaps with SGS in power generation EPC and process plant assembly work, though at much larger scale and with broader geographic/diversified exposure.
  • Quanta Services Inc. Largest pure-play infrastructure services firm in North America, including energy T&D and renewable BoS services. Provides overlapping industrial and power infrastructure construction capabilities at much larger scale.
  • EMCOR Group Inc. U.S. leader in mechanical and electrical construction, facility services, and industrial services. Comparable business model for industrial mechanical/electrical assembly and project execution across energy, industrial, and process customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

SGS Industrial Services Inc. social profiles

Digital presence

SGS Industrial Services Inc. compliance and trust

Trust signal

Compliance1 record

SGS Industrial Services Inc. financial estimates

Financial estimate

Revenue estimate

Valuation estimate

SGS Industrial Services Inc. leadership team

Management profile

Number of profiles

Profiles3 records

SGS Industrial Services Inc. subsidiaries and ownership

Company hierarchy

Subsidiaries3 records

SGS Industrial Services Inc. funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

SGS Industrial Services Inc. M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SGS Industrial Services Inc.

What does SGS Industrial Services Inc. do?

SGS Industrial Services delivers on-site industrial assembly and installation services for manufacturers and operators of machinery, equipment, and process plants. The offering covers mechanical assembly, electrical installation, pipeline construction, plant relocation and overhaul, construction management and supervision, and EPC project management. Projects are executed by SGS's own workforce at client sites across Europe, the US, and other international markets.

Is SGS Industrial Services Inc. a public or private company?

SGS Industrial Services Inc. is a private company. It is classified as family owned and is currently operating.

When was SGS Industrial Services Inc. founded?

SGS Industrial Services Inc. was founded in 2004. It employs 101 to 250 people.

Where is SGS Industrial Services Inc. based?

SGS Industrial Services Inc. is headquartered in Dorf An Der Pram, Austria, in the Europe region.

How does SGS Industrial Services Inc. make money?

One revenue line is on record: industrial Assembly & Installation Services.

Who are SGS Industrial Services Inc.'s main competitors?

Direct peers on record are SPIE SA, Bilfinger SE, Stork (a Fluor company) and MYR Group Inc.. Broad incumbents are Vinci Energies, ENGIE Solutions, Eiffage Énergie Systèmes, Worley Limited, Quanta Services Inc. and EMCOR Group Inc..

Does SGS Industrial Services Inc. have an API?

No public API is recorded for SGS Industrial Services Inc..

What industry is SGS Industrial Services Inc. in?

SGS Industrial Services Inc.'s product category is Industrial Assembly Services. Its primary akta.pro industry code is EUAEAAAL, Balance-of-Plant (BOP) & Civil Works for Power Plants, with a secondary code of EUAEAAAM, Power Plant Electrical Systems EPC (Switchyard, Transformers, Protection & Controls). Its NAICS code is 334513 and its SIC code is 3620.

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Live signals
GlobeNewswireQuarterly information as at March 31st, 2026SPIE SA reported Q1 2026 revenue of €2,450.3 million, up +1.7% year-on-year at constant FX, with organic growth of -0.9% due to temporary weather-related disruptions in Germany and Central Europe. The company announced exceptional M&A activity with four transactions representing approximately €667 million of annual revenue, including agreements to acquire ROFA Industrial AG and SGS Industrial Services in Germany, along with Invizo in Slovakia and BLOCK Group in the Czech Republic. SPIE reaffirmed its 2026 outlook and completed a 1,250,000 share buy-back between March 9th and March 19th, 2026, with all acquisitions to be self-financed.GlobeNewswireSPIE signs an agreement for the acquisition of SGS Industrial Services, expanding industrial services in GermanySPIE, the independent European leader in multi-technical services, has signed an agreement to acquire SGS Industrial Services Group, strengthening its industrial services capabilities in Germany. SGS Industrial Services employs approximately 800 highly skilled employees and generated revenues of approximately €180 million in 2025 with margins above 10%. The transaction, expected to close by the end of June 2026 pending antitrust approval, is anticipated to be adjusted EPS accretive from the first year of consolidation.SpieSPIE signs an agreement for the acquisition of SGS Industrial Services, expanding industrial services in GermanySPIE, the independent European leader in multi-technical services, has signed an agreement to acquire SGS Industrial Services Group, expanding its industrial services capabilities in Germany. SGS Industrial Services, headquartered in Austria with operations primarily in Germany, employs around 800 people and generated revenues of approximately €180 million in 2025 with margins slightly above 10%. The transaction, expected to close by end of June 2026 subject to antitrust approval, will be financed with SPIE's existing financial resources and is expected to be EPS accretive from the first year of consolidation.ChemxploreSPIE to acquire SGS Industrial Services to expand industrial services in GermanySPIE has signed an agreement to acquire SGS Industrial Services, a company based in Dorf an der Pram, Upper Austria, that operates primarily in Germany with approximately 800 employees. SGS Industrial Services reported approximately €180 million in revenue in 2025 with margins slightly above 10%, and the transaction is valued at an EBITA multiple in the high single digits, is self-financed, and is expected to be EPS-accretive from the first year of consolidation. The deal is subject to competition authority approval and is expected to close by the end of June 2026.YahooSPIE signs an agreement for the acquisition of SGS Industrial Services, expanding industrial services in GermanySPIE, the independent European leader in multi-technical services, has signed an agreement to acquire SGS Industrial Services Group, expanding its industrial services capabilities in Germany. SGS Industrial Services, headquartered in Austria but primarily operating in Germany, employs around 800 people and generated revenues of approximately €180 million in 2025 with margins above 10%. The transaction, expected to be EPS accretive from the first year of consolidation, will be financed using SPIE's existing financial resources while maintaining its sound financial leverage policy.