Brief: Fugro Sees Q1 Revenue, EBIT Y/Y Drop
15/04/2025 08:44
April 15 (Reuters) - Fugro NV FUGR.AS: FUGRO PROVIDES FINANCIAL UPDATE FOR THE FIRST QUARTER OF 2025 EBIT IS EXPECTED TO BE SLIGHTLY POSITIVE (Q1 2024: EUR 44 MILLION) EXPECTS TO REPORT LOWER REVENUE AND EBIT COMPARED TO A STRONG FIRST QUARTER OF 2024 THE 12-MONTH BACKLOG IS EXPECTED TO DECLINE MODESTLY BY 3 TO 4% COMPARED TO MARCH 2024 Q1 EBIT IS EXPECTED TO BE SLIGHTLY POSITIVE (Q1 2024: EUR 44 MILLION) REVENUE FOR THE QUARTER IS EXPECTED TO DECLINE BY APPROXIMATELY 11% (Q1 2024: EUR 503 MILLION) WE WILL CONTINUOUSLY MONITOR MARKET DEVELOPMENTS AND REASSESS THE FULL-YEAR REVENUE OUTLOOK WHEN GREATER CLARITY MATERIALISES SEES FREE CASH FLOW ABOUT NEGATIVE EUR 85 MILLION (Q1 2024: NEGATIVE EUR 58 MILLION), CAPEX OF AROUND EUR 100 MILLION Q1 FREE CASH FLOW IS ANTICIPATED TO BE APPROXIMATELY NEGATIVE EUR 85 MILLION (Q1 2024: NEGATIVE EUR 58 MILLION) Q1 WORKING CAPITAL PERFORMANCE IS SOLID AT AROUND 8% OF 12-MONTHS REVENUE WE REMAIN CONFIDENT THAT WE WILL DELIVER WITHIN OUR MID-TERM EBIT MARGIN TARGET RANGE OF 11-15% FOR THE FULL YEAR 2025 Source text: ID:nNDL49x4ZC Further company coverage: FUGR.AS (Gdansk Newsroom) ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))