Report
Fugro - Q2 EBIT beating by almost 20%, guidance raised
Fugro's H1 23 results exceeded expectation, especially driven by a strong performance in Marine. Fugro raised FY guidance and sees adjusted EBIT margin and ROACE within medium term target range.We already expected the EBIT margins to be in the medium-term range, but given the beat in H1, we expect to raise our full year EBIT estimate by at least 5%. We reiterate our Buy rating with H1 providing more comfort to our investment case.
Underlying
FUGRO NV
Provider
Degroof Petercam
We are an investment house with Belgian roots founded on more than 150 years of trust.
As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.
Luuk Van Beek
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