Brief: Fugro Q3 EBITDA Down At 57.8 Million Euros

Fugro NV

28/10/2021 06:33

Oct 28 (Reuters) - FUGRO NV  FUGR.AS :
    * Q3 2021 REVENUE INCREASED BY MODEST 3.7%
    * END-Q3 FREE CASH FLOW OF EUR 77.4 MILLION AS A RESULT OF
GOOD
OPERATIONAL CASH FLOW AND LOWER WORKING CAPITAL
    * TIMING OF MID-TERM TARGETS REDEFINED TO 2023-2024
    * FOR FY 2021, RECONFIRMS ITS GUIDANCE OF REVENUE GROWTH, A
MODEST
MARGIN IMPROVEMENT AND AROUND BREAK-EVEN FREE CASH FLOW
    * FOR FY 2021, CAPEX IS ESTIMATED AT AROUND EUR 80 TO 90
MILLION
    * TARGETING AN EBIT MARGIN OF 8-12% AND A FREE CASH FLOW OF
4-7%
OF REVENUE BY 2023-2024 - CEO
    * I AM CONFIDENT THAT WE ARE ON TRACK WITH OUR PATH TO
PROFITABLE
GROWTH, TARGETING AN EBIT MARGIN OF 8-12% AND A FREE CASH FLOW
OF 4-7% OF REVENUE BY 2023-2024-CEO
    * Q3 REVENUE EUR 378.0 MILLION VERSUS EUR 360.7 MILLION YEAR
AGO
    * NET DEBT AMOUNTED TO EUR 306.6 MILLION COMPARED TO EUR
368.4
MILLION AT HALF-YEAR 2021 AND EUR 295.8 MILLION AT YEAR-END 2020
    * 2-MONTH BACKLOG IS UP 8.9%, SUPPORTED BY ALL BUSINESS
LINES
    * Q3 EBITDA EUR 57.8 MLN VS EUR 67.5 MLN YR AGO

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

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))