Highlights for the quarter
· Solid performance in Geotechnical and Survey divisions
· Good contribution from Subsea division
· Seabed Geosolutions affected by one-off operational incident
· Confirmation of full year 2013 guidance

In addition, as of 2013 dividend, Fugro will buy back the shares issued for stock dividend in order to offset dilution.

Operational and financial highlights for the quarter

Fugro’s performance this quarter was solid, except for Seabed Geosolutions. Seasonal demand resulted in high vessel utilisation. The backlog for the next 12 months is solid and much stronger than at the end of the third quarter of 2012.

The oil and gas market, which is the main market in which Fugro operates, continues to be strong in most segments relevant to Fugro. Clients continue to invest in exploration and development of new fields and in enhancement of existing production. The second largest market for Fugro is infrastructure, where demand especially in the Middle and Far East, Africa and the Caspian region continues to be strong.