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Fugro NV (FUGRc.AS)

FUGRc.AS on Amsterdam Stock Exchange

10.93EUR
15 Nov 2018
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Latest Key Developments (Source: Significant Developments)

Fugro Mid-Tern Targets (2021-2023): Roce 10 - 15%; EBIT Margin 8 - 12%; Free Cash Flow 4 - 7% Of Revenue
Wednesday, 14 Nov 2018 01:13am EST 

Nov 14 (Reuters) - FUGRO NV ::MID-TERM TARGETS (2021-2023): ROCE 10 - 15%; EBIT MARGIN 8 - 12%; FREE CASH FLOW 4 - 7% OF REVENUE.EXPECTS AVERAGE ANNUAL CAPITAL EXPENDITURE OF AROUND EUR 100 TO 130 MILLION.SEES SIGNIFICANT IMPROVEMENTS IN ROCE EBIT AND CASH FLOW IN MID-TERM WITH EXPECTED REVENUE LEVEL OF EUR 2 – 2.5 BILLION.TARGETS ANNUAL POSITIVE FREE CASH FLOW RESULTING IN DELEVERAGING OF THE BALANCE SHEET AND CONSEQUENTLY NET DEBT/EBITDA RATIO BELOW 1.5.NET DEBT/EBITDA RATIO BELOW 1.5. DIVIDEND PAYMENTS WILL BE RESUMED ONCE LEVERAGE ALLOWS.IMPLEMENTATION OF NEW IFRS 16 STANDARD ON LEASING ON 1 JANUARY 2019 IS EXPECTED TO RESULT IN AN ON-BALANCE SHEET INCREASE IN NET DEBT FROM LONG TERM LEASE LIABILITIES OF AROUND EUR 200 - 225 MILLION.RECLASSIFICATION OF RELATED LEASE EXPENSES IS EXPECTED TO HAVE A POSITIVE IMPACT ON EBITDA OF EUR 35 - 45 MILLION AND ON EBIT OF EUR 5 - 10 MILLION.DUE TO FRONT LOADING OF INTEREST EXPENSES, EARNINGS BEFORE TAX (EBT) WILL DECREASE IN THE EARLY YEARS BY AROUND EUR 5 MILLION PER ANNUM.THIS CHANGE IS AN ACCOUNTING CHANGE ONLY AND HAS NO IMPACT ON THE ECONOMICS OF THE COMPANY. FURTHERMORE, THERE IS ALSO NO IMPACT ON COVENANTS AS THESE ARE BASED ON “FROZEN GAAP”.  Full Article

Fugro Announces Agreement With L3 ASV To Develop Next-Generation Autonomy For Commercial Survey
Tuesday, 6 Nov 2018 04:23am EST 

Nov 6 (Reuters) - FUGRO NV ::FUGRO ANNOUNCES AGREEMENT WITH L3 ASV TO DEVELOP NEXT-GENERATION AUTONOMY FOR COMMERCIAL SURVEY.DELIVERY OF FIRST USV IS SCHEDULED FOR Q2 2019.  Full Article

Fugro Announces Seabed Geosolutions Red Sea Contract Win
Monday, 22 Oct 2018 10:37am EDT 

Oct 22 (Reuters) - FUGRO NV ::SEABED GEOSOLUTIONS WINS SIGNIFICANT RED SEA OCEAN BOTTOM NODE CONTRACT.SURVEYS ARE SCHEDULED TO COMMENCE EARLY 2019.CONTRACT WILL BE JOINTLY EXECUTED AND SHARED WITH SEABED'S PARTNER IN MIDDLE EAST ARGAS, WHO IS CONTRACT HOLDER.  Full Article

Fugro Secures E&P Support Contracts In Trinidad And Gulf Of Mexico
Thursday, 6 Sep 2018 10:40am EDT 

Sept 6 (Reuters) - FUGRO NV ::FUGRO SECURES E&P SUPPORT CONTRACTS IN TRINIDAD AND GULF OF MEXICO.WON THREE CONTRACTS WITH BHP PETROLEUM (DEEPWATER) INC..  Full Article

Fugro Starts Marine Site Characterisation Work At Hornsea Two Offshore Wind Farm Site
Friday, 6 Jul 2018 09:09am EDT 

July 6 (Reuters) - Fugro NV ::COMMENCED MARINE SITE CHARACTERISATION WORK AT THE HORNSEA TWO OFFSHORE WIND FARM SITE.CONTRACT, AWARDED BY RENEWABLE ENERGY COMPANY ØRSTED, COVERS GEOTECHNICAL SITE INVESTIGATION.  Full Article

Fugro FY Net Loss Narrows To 159.9 Million Euros
Thursday, 22 Feb 2018 02:28am EST 

Feb 22 (Reuters) - FUGRO NV ::FUGRO FY 2017: RESULTS IN LINE WITH EXPECTATIONS.FY REVENUE EUR 1.50 BILLION VERSUS EUR 1.53 BILLION IN REUTERS POLL.OUTLOOK 2018: EXPECTS STABILISING REVENUE, IMPROVED EBIT MARGIN.OUTLOOK 2018: EXPECTS POSITIVE CASH FLOW FROM OPERATING ACTIVITIES AFTER INVESTMENTS.FY NET LOSS EUR 159.9 MILLION VERSUS LOSS EUR 308.9 MILLION YEAR AGO.FY EBITDA (EXCLUDING EXCEPTIONAL ITEMS) EUR 100.8 MILLION VERSUS EUR 189.5 MILLION YEAR AGO.OUTLOOK 2018: CAPEX IS EXPECTED TO BE AROUND EUR 80 MILLION..DUE TO THE NEGATIVE NET RESULT, WILL NOT PROPOSE TO PAY A DIVIDEND OVER THE YEAR 2017..  Full Article

Fugro Wins A Second Major Contract From The Norwegian Public Roads Administration
Wednesday, 20 Dec 2017 05:45am EST 

Dec 20 (Reuters) - FUGRO NV ::WINS A SECOND MAJOR CONTRACT FROM THE NORWEGIAN PUBLIC ROADS ADMINISTRATION.ESTIMATED REQUIRED INVESTMENT OF APPROXIMATELY NOK 340 BILLION.WORK ON E39 COASTAL HIGHWAY WILL INVOLVE A 1,100-KILOMETRE-STRETCH FROM KRISTIANSAND IN SOUTH TO TRONDHEIM IN CENTRAL NORWAY.  Full Article

Fugro Wins Ørsted Contracts For Site Investigations
Friday, 1 Dec 2017 04:08am EST 

Dec 1 (Reuters) - FUGRO NV ::WINS ØRSTED CONTRACTS FOR SITE INVESTIGATIONS AT TWO LARGE-SCALE U.S. OFFSHORE WIND PROJECTS‍​.‍SITE INVESTIGATIONS ARE DUE TO COMMENCE AT END OF NOVEMBER AND ARE EXPECTED TO CONTINUE FOR THREE MONTHS​.  Full Article

Fugro Completes Divestment Of Non-Core Trenching And Cable Laying Business
Thursday, 30 Nov 2017 12:21pm EST 

Nov 30 (Reuters) - FUGRO NV ::DIVESTMENT NON-CORE TRENCHING AND CABLE LAYING BUSINESS FINALISED.‍DIVESTED ACTIVITIES WILL BE DECONSOLIDATED AS PER 1 DECEMBER 2017​.  Full Article

Fugro says most of impact from hurricanes was in marine business - conf call‍​
Monday, 30 Oct 2017 05:18am EDT 

Oct 30 (Reuters) - FUGRO NV ::SAYS MOST OF IMPACT FROM HURRICANES WAS IN MARINE BUSINESS - CONF CALL‍​.  Full Article