Revenue EUR 365 million
Q1’21 EUR 284 million (+23.3%)
Backlog EUR 1,164 million
Q1’21: EUR 876 million (+27.8%)
EBIT margin -0.7%
Q1’21: -5.3%
Free cash flow
-EUR 7 million
Q1’21: -EUR 45 million

Geopolitical uncertainty - war in Ukraine.
Global economy
? Inflation rises to 5-8%
? Global GDP growth outlook reduced by 0.8%
? Threat to global food security
? Global Procurement Index PMI fell to 14 months low

Sanctions Russia
Decoupling Russian banks from SWIFT
? Trade and customs restrictions
? Export and import sanctions
? Stop road, sea and air transport
? Western companies suspend activities in region

Energy security
? Strong drive to reduce dependency on Russian O&G
? Russian O&G >12% of global supply
? Supply/demand imbalances
? Price increase oil and gas
? Search for alternative sources energy

Impact on Fugro
? Ukraine seafarer support
? Logistical challenges vessel staffing
? Suspending all Russian activities
? Cost inflation, in particular fuel

see & read more on
https://media.fugro.com/media/docs/default-source/investor-publications/2022/fugro---qi-2022-trading-update-analyst-presentation.pdf?sfvrsn=28598119_0

tijd 09.13
Fugro EUR 11,89 -6ct vol. 149.138