For the mid-term Fugro targets an EBIT margin of 8-12%, return on capital employed of 10-15% and a free cash flow of 4-7% of revenue, with expected revenues of EUR 1.6 to 2.0 billion and expected capital expenditures of EUR 80 to 110 million (excluding Seabed Geosolutions[1]).
These mid-term targets are not linked to a particular year or period.
Drivers for the targeted improvement in profitability are mid-term revenue growth on the back of further diversification through strong growth in renewables, disciplined management of the cost base, working capital and liquidity, value-based pricing and digital transformation to increase efficiency.
[1] Expected capex including Seabed Geosolutions would be EUR 100 to 130 million