Fugro Nv · EURONEXT:FUR

Fugro Nv — Q1 2015 Earnings Presentation

10 slides from Fugro Nv's earnings presentation, Apr 29, 2015

  1. Slide 1: Q1 trading update

    Source: ATSB, photo by ABIS Chris Beerens, RAN. Q1 trading update Den Haag, 29 April 2015

  2. Slide 2: Overall improved margin but decreasing backlog reflecting challenging oil and gas market

    Overall improved margin but decreasing backlog reflecting challenging oil and gas market  Y-o-y revenue decline of 2.1% on currency comparable basis  EBIT margin improved compared to relatively weak Q1 2014  Seabed Geosolutions reported small positive result, driven by restructuring and improved

  3. Slide 3: Cost reduction and performance improvement measures stepped up

    Cost reduction and performance improvement measures stepped up On track  Headcount reduction program on schedule, with net reduction of around 300 employees  Fleet reductions progressing as planned  Capex curtailment progressing as per plan; capex substantially below Q1 2014 18.1 18.8  Working c

  4. Slide 4: Geotechnical division: flat revenue onshore, decrease offshore

    Geotechnical division: flat revenue onshore, decrease offshore  Onshore revenue: positive development in 186.0 emerging markets 168.9 65.9  Onshore margin: YoY decrease due to set- backs on some of the larger projects Offshore 64.0  Offshore revenue: strongly impacted by reducing spending oil and

  5. Slide 5: Survey division: revenue decline reflects oil and gas market

    Survey division: revenue decline reflects oil and gas market  Lower oil and gas related revenue 195.8  geophysical surveys 190.3  construction support  Metocean  Compensating revenue growth non-oil & gas, eg hydrography and cable surveys  Positioning revenue holding up well  YoY margin somewh

  6. Slide 6: Subsea Services: continued revenue growth

    Subsea Services: continued revenue growth  Continuation of strong construction support and 127.6 installation work in Europe 108.2  YoY margin improved due to higher vessel utilisation Europe and Africa  Planned headcount decrease (ao Brazil and Asia Pacific) largely implemented this quarter Q114

  7. Slide 7: Geoscience division: strong improved performance Seabed

    Geoscience division: strong improved performance Seabed Seabed Geosolutions 90.4 4.0  Revenue almost doubled: good utilisation and strong performance SW & OBC business  OBN crew in Brazil started after 62.6 permitting delay  Small positive result due to higher revenue, Multi-client 23.0 lower cos

  8. Slide 8: 12 month backlog decline reflecting challenging market developments

    12 month backlog decline reflecting chalenging market developments Currency comparable decline by 23.3%: Currency Reported growth comparable growth  Continued growth onshore Geotechnical (+14.5%) -10.7% - 23.3%  Strong decline offshore Geotechnical (- 45.6%) 1,799.1  Relatively strong backlog las

  9. Slide 9: Outlook 2015: low visibility in challenging market

    Outlook 2015: low visibility in challenging market  We expect the oil and gas market to remain challenging for some period of time  Cost reduction measures have been stepped up further  Strong capex curtailment  Strong cash flow from operating activities after investments  Mid-term outlook 2017

  10. Slide 10: Q&A

    Source: ATSB, photo by ABIS Chris Beerens, RAN. Q&A

Fugro — Q1 2015 Earnings Presentation on 6ix