Finally, in the Middle East & India region, Fugro will conduct a comprehensive program of geophysical, geotechnical, and ROV crossing services for ADNOC’s Hail and Ghasha project , the deployment of LiDAR buoy for India’s National Institute of Wind Energy off the Tamil Nadu coast, site characterization and asset integrity operations for Technip in relation to the Dorra gas field, and onshore ground investigations for NEOM infrastructure developments.
Full-year outlook
In line with the new strategy Towards Full Potential and related mid-term guidance, Fugro said it expects continued revenue growth, primarily driven by the energy markets, EBIT margin within the mid-term target range of 11-15 per cent, ongoing investments in assets, technology, people and execution excellence, as well as a capex of around EUR 250 million.
“The implementation of our new strategy, Towards Full Potential, is getting underway. Ongoing investment in our people, technology and execution excellence is key. Despite tight labour markets, we are successful in attracting the people we need to support our clients. In the first quarter, we hired over 500 people, and voluntary staff turnover declined to 8%. Also, the conversion of Fugro Resilience and Fugro Resolve to geotechnical vessels is nearing completion, further boosting our earnings capacity,” Heine said.
“While carefully navigating macro-economic and geopolitical uncertainties, we are well-positioned to benefit from the energy transition, massive infrastructure investments and urgently needed climate change adaptation.”
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