Slide 1: Q3 2024 trading update
Q3 2024 trading update Celebrating 10 years of 1 November 2024 remote operations
Slide 2: Q3 2024: increased margin, robust cash flow and backlog growth
Q3 2024: increased margin, robust cash flow and backlog growth Revenue flat year-on-year Robust free cash flow 1,000 1.0 150 -0.7% +53.3% 100 500 0.5 609 597 50 103 67 0 0.0 0 Q3 23 Q3 24 Q3 23 Q3 24 Further increase EBIT margin Healthy 12-month backlog +16.8% 200 16.0% 16.7% 20 100 10 1,686 1,477 9
Slide 3: Q3 2024: key highlights
Q3 2024: key highlights Increased margin, robust cash flow and backlog growth despite short-term market-driven challenges Diversified portfolio of markets and regions highlights Fugro’s resilience Strong cash generation as result of continued focus on cash collection Progressing with implementation
Slide 4: Strong market fundamentals for Fugro's Geo-data solutions
Strong market fundamentals for Fugro’s Geo-data solutions despite short-term market-driven headwinds Short-term challenges affecting some of our key markets… … but long-term fundamentals unchanged CAGR (24-28) CAPEX OPEX Economic growth slow down Offshore wind 4 24% 14% 1 ▪ Slower growth in major ec
Slide 5: Securing long-term geotechnical vessel capacity
Securing long-term geotechnical vessel capacity Fugro Resolve: Working on 4 consecutive projects since half June (Europe) Fugro Resilience: Fully booked since early July on 3 consecutive projects (Americas) Fugro Zephyr: Delivered in June 2024, conversion ongoing Fugro Zenith: Fully operational unde
Slide 6: Recent uncrewed surface vessel projects
Recent uncrewed surface vessel projects Towards asset lighter and low carbon solutions Beatrice Offshore Wind Subsea Surveys Critical pre-lay survey works ahead of Port survey and pipeline inspection Client SSE Renewables pipelay & pipelay touch-down support (technology demonstrator) Scope Inspectio
Slide 7: Further build-out USV fleet
Further build-out USV fleet Towards asset lighter and low carbon solutions For asset integrity ▪ Additional 12-metre Blue Essences for various regions ▪ 18-metre Blue Eclipse, equipped with deeper water Blue Amp® eROV, planned for 2025 For site characterisation ▪ 16-metre Blue Prism for large scale
Slide 8: Celebrating 10 years and 1 million hours of remote operations
Celebrating 10 years and 1 million hours of remote operations ROC DUBAI ROC ABERDEEN ROC INDIA ROC HOUSTON 8 Fugro Q3 2024 trading update
Slide 9: GroundIQ for land site characterisation
GroundIQ® for land site characterisation Scalable site screening solution Revolutionary, smart way to map and model what’s under the ground faster, easier, and more sustainably ▪ Early diagnosis of problems that arise when the nature of the ground is not adequately understood World’s first screening
Slide 10: Financial highlights Q3 2024
Financial highlights Q3 2024 Growth Profitability Cash flow Revenue EBITDA (margin)1 Operating cash flow before working capital -0.7%1 23.5% 22.3% 609 597 135 136 140 124 Q3 23 Q3 24 Q3 23 Q3 24 Q3 23 Q3 24 Backlog (12 months) EBIT (margin)2 Free cash flow3 +16.8%1 16.0% 16.7% 20 +53.3%1 1,477 1,686
Slide 11: Profitability – consistent year-on-year improvement
Profitability – consistent year-on-year improvement adjusted EBIT margin Q1 Q2 Q3 Q4 8.8% 16.9% 16.0% 16.7% 5.4% 11.8% 11.5% 11.2% 10.9% 8.7% 7.4% 8.1% 7.6% -0.7% 4.2% 3.8% 1.1% -6.0% -5.3% 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Further ma
Slide 12: Solid overall performance
Solid overall performance as result of diversified portfolio of markets and regions Revenue bridge X EUR million Marine +0.3% Land -4.2% +28 -31 +32 -27 -2 -2 +5 -7 609 -8 597 Q3 23 Europe-Africa Americas Asia Pacific Middle East Europe- Americas Asia Pacific Middle East FX effect Q3 24 & India Afri
Slide 13: Free cash flow improves by 53% driven by lower working capital
Free cash flow improves by 53% driven by lower working capital FCF Q3 2024 Working capital X EUR million X EUR million, and as % of 12-month revenue 15.6% 15.9% 30 +53% 13.2% 14.1% 14.4% -52 12.8% 1 8.9% 124 103 359 275 324 284 323 247 194 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 FCF Q3 2023 ▪ Q3 w
Slide 14: Strong balance sheet
Strong balance sheet Net leverage Maturity profile per Sept 2024 0.9 1.0 X EUR million 0.7 0.7 0.6 0.5 0.3 400 466 469 200 401 429 340 345 300 revolving credit facility 1 266 280 246 274 222 198 200 term loan 111 42 0 2024 convertible Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 2024 2025 2026 Net debt
Slide 15: Concluding remarks
Concluding remarks ▪ Fugro’s Geo-data solutions are key to the energy transition, infrastructure development and climate change adaptation ▪ We continue to capture the ample opportunities in our markets, supported by healthy and growing backlog ▪ We are progressing well with implementation of Toward
Slide 16: For inquiries contact Director Investor Relations
For inquiries contact Director Investor Relations Catrien van Buttingha Wichers c.vanbuttingha@fugro.com 16