Fugro Nv · EURONEXT:FUR
Fugro Nv — Q1 2016 Earnings Presentation
7 slides from Fugro Nv's earnings presentation, Apr 29, 2016
Slide 1: Fugro Q1 2016 trading update
Fugro Q1 2016 trading update 29 April 2016
Slide 2: Ongoing challenging oil and gas market continues to impact Fugro results
Ongoing challenging oil and gas market continues to impact Fugro results Another significant decline of clients’ exploration and production budgets Fugro is addressing challenging market circumstances by adjusting cost base and capacity to market reality Positive cash flow and reduced net debt
Slide 3: Financial highlights Q1 2016
Financial highlights Q1 2016 Year-on-year revenue decline of 25.8% or 23.4% on currency comparable basis Negative low single digit EBIT margin in traditionally weak first quarter Positive cash flow from operating activities after investments (including proceeds from sale and lease back of a ge
Slide 4: Tangible action being taken across the board to improve EBIT margin
Adjusting cost base and capacity to market reality Headcount: Compared to YE 2015, personnel was reduced by another 363 employees Compared to 1Q 2015, headcount was 1,664 lower Will be reduced further by around 600 in coming quarters Third party expenses were down 24.6% or 22.7% on currenc
Slide 5: Backlog next months: decline in line with market
Backlog next 12 months: decline in line with market 12 month backlog Currency comparable growth (x EUR million) 1Q15 4Q15 1Q16 Y-on-Y Q-on-Q onshore Geotech 345 304 307 (6.2%) 4.5% offshore Geotech 143 131 104 (24.1%) (19.4%) Geotech total 488 435 412 (11.4%) (2.7%) Survey 589 473 437 (21.2%) (5.3%)
Slide 6: Outlook 2016: challenging market continues
Outlook 2016: challenging market continues General trends Timing of recovery of oil services market uncertain For the foreseeable period, Fugro has to deal with the deteriorated market conditions Increasing evidence that fundamentals are moving back towards balance, driven by impact on supply
Slide 7: Questions?
Questions? 29 April 2016