Positive results after the weak Q1, with the guidance confirmed (revenue growth / modest margin improvement) and expectations of “around break-even free cash flow”. Margins are improving indeed at 2.5% in H1, vs 0.6% in H1 20, while revenue is down 5% yoy. Activity is picking up sequentially in both marine (+47% qoq at €278m) and land (+17% at €111m) divisions.
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Q2: European offshore wind leads results
Positive results after the weak Q1, with the guidance confirmed (revenue growth / modest margin improvement) and expectations of “around break-even free cash flow”. Margins are improving indeed at 2.5% in H1, vs 0.6% in H1 20, while revenue is down 5% yoy. Activity is picking up sequentially in both marine (+47% qoq at €278m) and land (+17% at €111m) divisions.