Brief: Fugro Q1 Adjusted EBITDA Up At EUR 26.9 Mln

Fugro NV

22/04/2022 06:13

April 22 (Reuters) - Fugro NV  FUGR.AS :
    * Q1 TRADING UPDATE
    * EXPECTS AN INCREASE IN REVENUE IN ALL MARKETS
    * IS FOCUSED ON FURTHER MARGIN EXPANSION TOWARDS ITS
2023-2024
MID-TERM TARGETS OF AN EBIT MARGIN OF 8-12% AND A FREE CASH FLOW
OF 4-7%, ON THE BACK OF HIGHER PRICING, INCREASING ASSET
UTILISATION, DISCIPLINED COST MANAGEMENT, OPERATIONAL EXCELLENCE
AND DIGITAL TRANSFORMATION
    * Q1 REVENUE EUR 365.4 MILLION VERSUS EUR 283.8 MILLION YEAR
AGO
    * WILL FOCUS ON ACTIVELY MANAGING IMPACTS OF GEOPOLITICAL
UNCERTAINTIES, INFLATIONARY AND SUPPLY CHAIN PRESSURES
    * Q1 ADJUSTED EBITDA EUR 26.9 MILLION VERSUS EUR 13.1
MILLION YEAR
AGO
    * AT END Q1, 12-MONTH BACKLOG IS UP BY 27.8% TO EUR 1,164
MILLION
    * Q1 FREE CASH FLOW WAS MINUS EUR 6.5 MILLION COMPARED TO
MINUS
EUR 44.8 MILLION LAST YEAR
    * Q1 NET DEBT AMOUNTED TO EUR 316.5 MILLION COMPARED TO EUR
292.7
MILLION AT YEAR-END
    * Q1 NET DEBT/EBITDA REMAINED STABLE OVER THE QUARTER AT
1.7X.
    * FUGRO IS REVIEWING THE POSSIBILITY TO EXTEND ITS DEBT
MATURITY
PROFILE. AT THIS STAGE, IT IS UNCERTAIN WHETHER FUGRO WILL
PROCEED AND, IF SO, WHEN THIS MIGHT HAPPEN

Source text for Eikon:  ID:nNDL8g6NLW 
Further company coverage:  FUGR.AS 

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