Degroof Petercam - FUGRO NV (FUR) Fugro - Spectacular profit jump in Q4, positive guidance

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Degroof Petercam

Luuk Van Beek

Fugro - Spectacular profit jump in Q4, positive guidance

Q4 EBIT was almost triple the expected level, driven by strong results in especially marine site characterizationManagement guides for 2024 revenue growth with an EBIT-margin above 11%, better than expected (DP: 10.5%, consensus: 10.6%)We raise our target price from EUR 23 to EUR 25 and reiterate our Buy

29/02/2024 1 EN

Underlying

FUGRO NV

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NL00150003E1 Euronext Amsterdam Netherlands

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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.

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Analysts

Luuk Van Beek

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Fugro - Spectacular profit jump in Q4, positive guidance

Fugro/Excellent start to the year/BUY

Wind Energy : A deep-dive into the wind sector The wind is changing, is your portfolio keeping pace?

Dynamic Top Pick List Update May 2024 : Adding Fugro, Removing Arcadis

Carmat - Another 3 months relief

Ascencio - Decent HY, guidance reiterated

Galapagos - Collaboration agreement with Adaptimmune

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