Slide 1: Q3 2021 trading update
Q3 2021 trading update 28 October 2021
Slide 2: Q3 2021: Continued growth in renewables; good cash flow and solid backlog
Q3 2021: Continued growth in renewables; good cash flow and solid backlog ▪ Revenue increased by modest 3.7% ▪ Renewables generated 30% of revenue in Q3, up from 23% in H1 ▪ EBIT margin of 7.6%; results continue to be impacted by pandemic, more than anticipated at start of the year ▪ Free cash flow
Slide 3: Contributing to energy transition, climate change adaptation and sustainable infrastructure
Contributing to energy transition, climate change adaptation and sustainable infrastructure Renewables account for 30% of Q3 2021 revenue Positioning Partnership with awards for IOC-UNESCO to damage improve access assessments in to ocean science aftermath of data Hurricane Ida Site Research into inv
Slide 4: Renewables
Renewables ▪ Continued strong growth in offshore wind investments expected. Key involvement of Fugro’s site characterisation solutions 2-5 years before installation Global growth in offshore ▪ Current offshore wind installed capacity of 26 GW expected to grow to 164 in wind 2030. Strongest growth in
Slide 5: Oil & Gas
Oil & Gas ▪ Post Covid economic recovery results in oil and gas supply-demand imbalance • Unprecedented effects on energy prices, labor and production costs Supply-demand imbalance ▪ 2021 offshore O&G services spend up in Europe, still declining in APAC and MEI ▪ Asset integrity spending increasing,
Slide 6: Infrastructure
Infrastructure ▪ Post-covid governments’ programs support positive market outlook • Biden’s proposed $ 600 billion infrastructure bill expected to commence in 2022 Positive outlook ▪ Growing repair & maintenance and refurbishment budgets to renovate and upgrade existing infrastructure result in asse
Slide 7: Water
Water ▪ Water management is crucial for supporting urban and infrastructure developments Extreme weather events drive the need for more inland water infrastructure and Growth driven by climate ▪ coastal resilience projects e.g. in the US, Indonesia, NL change adaptation projects ▪ Increasing need fo
Slide 8: Modest growth and margin of 7.6%
Modest growth and margin of 7.6% Revenue growth per quarter1 25% 23% 14% 13% 9% 8% 4% 0% Q1 Q2 Q3 -3% -7% -17% -21% -24% -30% -28% Fugro Europe-Africa Americas Asia Pacific Middle East & India EBIT (margin) per quarter2 X EUR million 11.2% 8.1% 7.4% 7.6% ▪ Business operations still impacted by the p
Slide 9: Marine up; land marginally down
Marine up; land marginally down Marine Land X EUR million 6.7%1 - 3.7%1 276 256 105 102 Q3 20 Europe- Americas Asia Middle FX effect Q3 21 Q3 20 Europe- Americas Asia Middle FX effect Q3 21 Africa Pacific East & Africa Pacific East & India India Marine ▪ Revenue up 6.7% led by asset integrity, in al
Slide 10: Good cash flow supported by lower working capital
Good cash flow supported by lower working capital Free cash flow1 X EUR million ▪ In a typically busy Q3, free cash flow of EUR 77.4 million as result of good activity levels and lower working capital 77.4 ▪ Net debt of EUR 306.6 million compared to EUR 368.4 36.7 million at June 2021 and EUR 295.8
Slide 11: Outlook 2021
Outlook 2021 ▪ Ongoing growth in renewables, infrastructure and nautical markets, despite ongoing pandemic challenges ▪ Expected modest recovery of oil & gas related revenue has not yet materialised Resulting in ▪ Revenue growth ▪ Modest margin improvement ▪ Around break-even free cash flow 11 Q3 20
Slide 12: Mid-term targets 2023-2024
Mid-term targets 2023-2024 EBIT margin: 8-12% Drivers 12% Volume In particular driven by renewables, infrastructure and water 8% 3.5% Price Value-based pricing; integrated digital solutions 2020 2021 2022 2023-2024 Productivity Disciplined cost management; operational excellence; digital transformat
Slide 13: Q&A
Q&A 13