Fugro Nv · EURONEXT:FUR
Fugro Nv — Q3 2022 Earnings Presentation
12 slides from Fugro Nv's earnings presentation, Oct 28, 2022
Slide 1: Q3 2022 trading update
Q3 2022 trading update 28 October 2022
Slide 2: Q3 2022: Sustained growth and margin improvement
Q3 2022: Sustained growth and margin improvement Good progress on Path to Profitable Growth Market environment Q3 2022 Strategic progress ▪ High client demand in energy and ▪ Revenue increased by 17.4% ▪ Well placed to capitalise on strong infrastructure markets, in particular ▪ EBIT margin of 10.9%
Slide 3: Geopolitics and climate change disrupt energy supply
Geopolitics and climate change disrupt energy supply Accelerating need for energy transition & energy security ▪ Ukraine conflict causes gas deficit ▪ Extreme inflation and supply chain challenges ▪ Extreme weather events, ie heat and droughts ▪ Accelerated energy transition & energy security invest
Slide 4: Fugro's main markets are strong
Fugro’s main markets are strong Comparing Q3 2022 with Q4 2021 forecast: outlook fundamentally unchanged Renewables Oil & Gas Infrastructure Water Offshore wind capex, €bn1 Number of offshore FID2 Construction output, $bn1 Water infra capex, $bn1 45 250 900 160 40 800 140 35 200 700 120 30 600 100 1
Slide 5: Infrastructure investments in the US
Infrastructure investments in the US Biden Infrastructure Investment & Jobs Act starting to translate into project awards Multiple existing multi year asset Southern Texas aerial lidar, imagery, Involvement in the Coastal Texas integrity contracts to benefit from and data integration for NOAA's Prot
Slide 6: Recent project awards
Recent project awards A couple of examples of Fugro’s project portfolio Damage assessment of Hurricane Ian Site investigation for Norway’s first Site investigation for Aramis CO2 in Florida using airborne lidar large scale offshore wind farm Sørlige transport and sequestration project in imagery wit
Slide 7: Highlights Q3 2022 results
Highlights Q3 2022 results X EUR million Revenue EBITDA2 (margin) Free cash flow +17.4%1 17.3% 15.1% 15.4% 15.3% 480 83 77 7.4% 71 70 378 60 58 4.6% 27 13 Q3 21 Q3 22 Q1 21 Q2 21 Q3 21 Q1 22 Q2 22 Q3 22 Q3 21 Q3 22 Backlog EBIT2 (margin) Net leverage +33.9%1 10.9% 8.7% 2.0 8.1% 7.6% 52 1.0 1,348 32
Slide 8: Continued growth and margin expansion
Continued growth and margin expansion Revenue Marine +13.4% Land +28.2% x EUR million 37 3 9 4 10 6 -11 6 38 480 378 Q3 2021 Europe-Africa Americas Asia Pacific Middle East Europe- Americas Asia Pacific Middle East FX effect Q3 2022 & India Africa & India Revenue supported by high demand; specifical
Slide 9: Increased operating cash flow offset by higher capex
Increased operating cash flow offset by higher capex Working capital under control despite top-line growth Cash flow Q3 2021 Q3 2022 X EUR million 77 69 13 68 70 -17 66 11 -29 2 30 4 1 15 49 operating changes capex other CF CF free cash operating changes capex other CF CF free cash CF before working
Slide 10: Future proof sustainability-linked capital structure
Future proof sustainability-linked capital structure New comprehensive financing as per July 2022 Maturity profile (EUR mn) revolving credit facility (fully undrawn) ▪ extended maturities term loan 400 ▪ significantly reduced cost of debt 2024 convertible 1 year ▪ RCF interest from EURIBOR +3.50% to
Slide 11: Outlook 2022
Outlook 2022 ▪ Ongoing growth in all end-markets Resulting in ▪ Continued revenue growth ▪ continued margin expansion towards 2023-2024 mid-term targets while focusing on actively managing any impacts of geopolitical uncertainties, inflationary and supply chain pressures ▪ Positive free cash flow ▪
Slide 12: Q&A
Q&A 12