Fugro trading update Q1 2014: Weak start of the year
Reasonable revenue growth and continued strong backlog
Highlights for the first quarter 2014

Year-on-year revenue growth in the first quarter, excluding multi-client sales, of 6.0%, or 11.4% at constant exchange rates.
Quarterly margin decreased significantly year-on-year
Revenue and margin were impacted by:
o adverse weather conditions in multiple regions, impacting offshore activities in all divisions and aerial mapping, resulting in low utilisation and production.
o operational issues at a first-time leading edge deepwater well de-risking project for the geotechnical division, as well as difficult operational circumstanceson two projects for Seabed Geosolutions.
o Some fall off in the quarter of work volume in the oil and gas market in certain regions.
Fugro’s financial position remains healthy with net debt over EBITDA of 1.6.
Backlog for the remainder of the year strong at EUR 1,597 million, up 11.9% at constant exchange rates.
Outlook:for the first half of 2014, Fugro expects high single digit revenue growth at constant exchange rates excluding multi client sales. Barring unforeseen circumstances and any impairments, the EBIT margin will recover in the second quarter but is still expected to be significantly lower over the first half of 2014 compared to the first half of 2013.


Paul van Riel, CEO: ‘The first quarter is typically slow due to seasonal weather patterns, particularly influencing our offshore activities. This year the weather conditions were exceptionally challenging in offshore North West Europe and in other parts of the world, resulting in low utilisation and production for our vessels and adversely impacting our aerial mapping business. We also had to deal with certain operational issues and some fall off in oil and gas work in the quarter. All of this had a significant impact on profitability. In our business, utilisation and financial results can vary strongly per quarter. They are influenced not only by market behaviour but also by the weather and timing of award and execution of individual projects. Quarterly results should be interpreted against this background. Based on our strong backlog and barring any unforeseen circumstances, I am confident our performance will improve during the coming quarters.’

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tijd 09.04
Fugro afgestraft op EUR 43,20 -2,92 vol. 114.000

Fugro shareholders adopt all resolutions at AGM
At today's Annual General Meeting (AGM), shareholders of Fugro approved all resolutions including the company's 2013 financial statements and a dividend of EUR 1.50 per share.

The dividend will be paid as from 6 June 2014, either in cash or in (certificates of) shares.

Holders of certificates of shares have as from 13 May until 28 May 2014 (15:00 CET) to make their dividend preference known through their bank or broker to ABN AMRO N.V. Exchange Agency Services MF 2020 (as.exchange.agency@nl.abnamro.com or fax +31 (0)10 264 4652). Holders of shares registered in the shareholders’ register of Fugro have until 28 May 2014 (15:00 CET) to make their dividend preference known to the company.

The conversion ratio of the dividend in (certificates of) shares will be determined on 2 June 2014 before trading hours, based on the volume weighted average price of certificates of shares Fugro on 28, 29 and 30 May 2014.
To arrive at a whole number, a deviation of a maximum of 3% of the calculated value may be applied. If no choice for cash has been made on 28 May 2014, the dividend will be paid in (certificates of) shares.

Share repurchase
Fugro has obtained approval to repurchase the number of shares that will be issued as stock dividend and to subsequently cancel these shares.

(Re)appointments
· Paul van Riel was reappointed to the Board of Management. He will remain Chairman Board of Management/ Chief Executive Officer, to which position he was appointed on 16 November 2012;
· Gert-Jan Kramer was reappointed to the Supervisory Board;
· Douglas Wall was appointed to the Supervisory Board;
· Antonio Campo was appointed to the Supervisory Board.



AMSTERDAM (AFN) - Bodemonderzoeker Fugro is in gesprek met de Australische autoriteiten over mogelijke hulp bij de zoektocht naar het verdwenen vliegtuig van Malaysia Airlines. Dat bleek dinsdag tijdens de aandeelhoudersvergadering van het bedrijf. Of Fugro daadwerkelijk wordt ingeschakeld bij de actie, is nog niet te zeggen, zo liet een woordvoerder van de onderneming weten.

De zoektocht naar het vermiste toestel, dat begin maart van de radar verdween, gaat volgens de zegsman nu over van de Australische marine naar de civiele autoriteiten. Daar zit Fugro bij aan tafel om over de mogelijkheden te praten. Op wat voor termijn er duidelijkheid komt of er een opdracht wordt verstrekt, is niet te zeggen. ,,Er zullen tenders komen, er worden prijzen ingediend'', aldus de woordvoerder.

Fugro heeft schepen beschikbaar en heeft de mogelijkheid om met speciale apparatuur tot circa 3000 tot 4000 meter diepte te zoeken. Het bedrijf heeft op dit moment echter geen robots die naar de zeebodem kunnen worden gestuurd. ,,De dieptes die nu genoemd worden, van 5000 tot 6000 beter, dat zijn er maar heel weinig die dat kunnen. Dat zou voor ons een probleem worden'', lichtte de zegsman toe.