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For 2022, Fugro expects an increase in revenue in all markets. The company is focused on further margin expansion towards its 2023-2024 mid-term targets of an EBIT margin of 8-12% and a free cash flow of 4-7%, on the back of higher pricing, increasing asset utilisation, disciplined cost management, operational excellence and digital transformation.

At the same time, the company will focus on actively managing impacts of geopolitical uncertainties, inflationary and supply chain pressures. To support the anticipated growth, 2022 capex is estimated at around EUR 100 million.

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