Fugro shares fall after warning on 2026 EBIT margin

Fugro

31/07/2026 09:07

 ** Shares in Fugro FUGR.AS fall 9% after the Dutch geological data specialist warned on its 2026 EBIT margin after posting slight H1 beat
** H1 revenues of 920.6 million euros ($1.06 billion) were 6% ahead of consensus, as cited by Jefferies, EBIT margin of 4.1% was above the consensus of 3.8%
** However, the company reported a 13.9% decrease in order backlog, with a 47% reduction in renewables 
** Fugro also said that earlier expected margin improvement for the full-year is unlikely, due to pricing and backlog drop
** Jefferies says order backlog drop is "leading to a challenging 2H26E outlook, with increased overcapacity and pricing pressure, exacerbated by execution delays in the Middle East"
** Full-year margin outlook will likely trigger double-digit 2026 EBIT consensus downgrades, it adds
** Share on track for its worst day since September 2025, if losses hold
     
     
     
($1 = 0.8687 euros)

(Reporting by Margaux Perrin in Gdansk)
((Margaux.Perrin@thomsonreuters.com))