The offshore wind market continues to grow and the offshore oil and gas market is gradually recovering. Clients are increasingly taking final investment decisions regarding new offshore field developments.
As there is still overcapacity in the oil field services market, it is uncertain at what pace the challenging pricing environment in this market will improve. In the building and infrastructure market Fugro expects continued growth, driven by a strong global economy, population growth and urbanisation.
Supported by an increased backlog in hand, Fugro expects revenue growth and a marginally positive EBIT margin. Fugro also expects a positive cash flow from operating activities after investments, yet this will depend on revenue growth and the related working capital requirement at year-end. Capex is expected to be around EUR 80 million.