The outlook across Fugro’s market segments is positive as offshore wind, oil and gas and infrastructure markets continue to grow. The oil and gas market is recovering despite short term volatility related to geopolitical developments and concerns over reduced global economic growth. In the infrastructure market Fugro expects continued growth, driven by population growth and urbanisation. The high order intake in the last quarter of 2018, the solid backlog and latest market forecasts are supportive of the implementation of Fugro’s strategic plan.
For 2019, Fugro expects continued revenue growth, further improvement of EBIT margin and positive cash flow from operating activities after investments. Capex is expected to be around EUR 90 million. The implementation of IFRS 16 is expected to have an upward impact of EUR 45 – 50 million on EBITDA and EUR 5 - 10 million on EBIT.