Fugro Nv · EURONEXT:FUR
Fugro Nv — Q1 2022 Earnings Presentation
14 slides from Fugro Nv's earnings presentation, Apr 22, 2022
Slide 1: Q1 2022 trading update
Q1 2022 trading update 22 April 2022
Slide 2: Q1 2022: Strong revenue and backlog growth
Q1 2022: Strong revenue and backlog growth Improved EBIT and cash flow Revenue EUR 365 million Backlog EUR 1,164 million Q1’21 EUR 284 million (+23.3%) Q1’21: EUR 876 million (+27.8%) Europe- 12% Africa Americas 21% 43% Asia Pacific Free cash flow EBIT margin -0.7% 24% -EUR 7 million Middle East & I
Slide 3: Geopolitical uncertainty - war in Ukraine
Geopolitical uncertainty - war in Ukraine Humanitarian crisis Global economy ▪ Inflation rises to 5-8% ▪ Global GDP growth outlook reduced by 0.8% ▪ Threat to global food security Impact on Fugro ▪ Global Procurement Index PMI fell to 14 months low ▪ Ukraine seafarer support Energy security ▪ Logist
Slide 4: Renewables
Renewables Latest developments ▪ Increasing focus on offshore wind APAC and Americas offshore wind capacity targets1 • South Korea, Australia, New Zealand recently raised their ambitions • Brazil accelerates site investigation licencing to realise 80 GW • USA has ambition to >45 GW installed capacit
Slide 5: Oil & gas
Oil & gas Latest developments ▪ Increasing energy prices, more FIDs ▪ Russia O&G >12% of world supply Oil and gas prices1 $/bbl $/MMBtu ▪ Energy majors looking to refocus sourcing and supply of oil & gas 6,5 ▪ Europe energy security is key priority 120 6 5,5 100 5 Impact on Fugro 4,5 80 4 ▪ Increasi
Slide 6: Infrastructure
Infrastructure Latest developments ▪ Demand-supply imbalance boosts power and material prices Infrastructure spend (capex + opex) (x US$ bn)1 ▪ Europe’s drive for energy security expected to require additional infrastructure investments +11% 805 747 ▪ Various post-Covid government infrastructure sti
Slide 7: Road Inspection Colorado (USA)
Road Inspection Colorado (USA) Keeping roads safe ▪ Acquiring and analysing Geo- data for Colorado Department of Transportation ▪ Annually 13,000 lane miles pavement inspection and imagery ▪ Automatic Road Analyzer (ARAN) solution collects high resolution pavement data for safe and sustainable road
Slide 8: Bathymetric survey Indian Coast
Bathymetric survey Indian Coast Survey to support coastal resilience and development South- East India ▪ Gather seabed insights and inspect 56,000 line kilometres for India’s National Institute of Ocean Technology (NIOT) ▪ Site characterisation of the coastline and seafloor to benefit coastal commun
Slide 9: Highlights Q1 2022 trading update
Highlights Q1 2022 trading update Revenue EBITDA2 (margin) EBIT2 (margin) +23.3%1 40 7.3% 8 -0.7% 30 4.6% 6 -5.3% 365 20 4 284 27 10 2 -3 13 -15 0 0 Q1 21 Q2 22 Q1 21 Q1 22 Q1 21 Q1 22 Net leverage Backlog Free cash flow +27.8%1 -7 2 1,164 -45 2.1x 876 1.7x Q1 21 Q2 22 Q1 21 Q1 22 Q1 21 Q1 22 Amount
Slide 10: Revenue and EBIT up in both marine and land
Revenue and EBIT up in both marine and land 32% Marine Revenue Revenue 68% Land x EUR million 23.3%1 365 ▪ All business lines reported double-digit increase a result of 15 16 ▪ continued robust growth of offshore wind 50 ▪ recovering oil & gas markets 284 ▪ solid increase in infrastructure markets Q
Slide 11: Revenue development per region
Revenue development per region Marine Land X EUR million 26.3%1 17.2%1 250 116 189 95 Q1 21 Europe- Americas Asia Middle FX effect Q1 22 Q1 21 Europe- Americas Asia Middle FX effect Q1 22 Africa Pacific East & Africa Pacific East & India India All regions contributed to revenue increase, except for
Slide 12: Improved cash flow due to higher profitability and good working capital management
Improved cash flow due to higher profitability and good working capital management Days of revenue outstanding Working capital (% of last 12 months revenue) 16.1% 98 97 94 92 12.3% 13.0% 87 12.0% 11.6% 86 83 86 11.2% 10.9% 10.8% 82 8.1% 218 182 185 178 178 159 167 153 112 Q1 20 Q2 20 Q3 20 Q4 20 Q1
Slide 13: Outlook 2022
Outlook 2022 ▪ Ongoing growth in all core markets Resulting in ▪ continued revenue growth ▪ further margin expansion towards 2023-2024 mid- term targets while focused on actively managing any impacts of geopolitical uncertainties, inflationary and supply chain pressures ▪ Capex of around EUR 100 mil
Slide 14: Q&A
Q&A 14