The company is focused on further margin expansion towards its 2023-2024 mid-term targets of an EBIT margin of 8-12%, free cash flow1 of 4-7% and a return on capital employed of 10-15%.
Fugro’s Path to Profitable Growth strategy targets improvements in profitability and cash flow, based on the following drivers: revenue growth, in particular in renewables, infrastructure and water; value-based pricing; integrated digital solutions; disciplined cost management; operational excellence and digital transformation to increase efficiency.
In light of its less capital intensive asset base, Fugro expects an average annual capital expenditure of around EUR 80-110 million.
1Of revenue, after lease payments