Brief: Fugro Q1 Adjusted EBITDA Up At 13.1 Million Euros

Fugro NV

22/04/2021 06:07

April 22 (Reuters) - Fugro NV  FUGRc.AS :
    * Q1 SLIGHTLY IMPROVED EBIT MARGIN IN A SEASONALLY WEAK
QUARTER
    * GROWTH EXPECTED TO RESUME IN COURSE OF Q2
    * Q1 REVENUE DECLINE OF 17.2% IN QUARTER, FULLY DRIVEN BY
IMPACT
OF COVID AND A STRONG RELATED DECLINE IN OIL & GAS ACTIVITIES,
PARTLY OFFSET BY REVENUE GROWTH IN OTHER MARKET SEGMENTS
    * FOR FULL-YEAR, FUGRO EXPECTS A MODEST MARGIN IMPROVEMENT
    * COST REDUCTION PROGRAMME, INITIATED LAST YEAR, FULLY
IMPLEMENTED
BY NOW, RESULTING IN ANNUALISED SAVINGS OF AROUND EUR 130
MILLION
    * Q1 REVENUE EUR 283.8  MILLION VERSUS EUR 358.4 MILLION
YEAR AGO
    * Q1 ORDER INTAKE RESULTS IN EUR 875.7 MILLION BACKLOG, IN
LINE
WITH Q1 OF 2020
    * Q1 GOOD ORDER INTAKE RESULTS IN EUR 875.7 MILLION BACKLOG,
IN
LINE WITH Q1 OF 2020
    * Q1 ADJUSTED EBITDA EUR 13.1 MILLION VERSUS EUR 7.2 MILLION
YEAR
AGO
    * COST REDUCTION PROGRAMME, INITIATED LAST YEAR, FULLY
IMPLEMENTED
BY NOW, RESULTING IN ANNUALISED SAVINGS OF AROUND EUR 130
MILLION

Source text for Eikon:  ID:nNDL9mpzQp 
Further company coverage:  FUGRc.AS 

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