Netherlands' Fugro H1 revenue rises on energy market growth

Fugro

31/07/2026 06:15

Overview
Netherlands geotechnical solutions provider's H1 revenue grew 4.3% yr/yr, driven by oil & gas, infrastructure
EBIT margin improved to 4.1% from 2.3% in H1 2025, supported by revenue growth, cost savings
Company posted EUR 62 mln net loss, including asset impairments and deferred tax derecognition

Outlook
Fugro expects industry overcapacity and pricing pressure to persist in H2 2026
Company says previously expected margin improvement for full yr 2026 now unlikely
Fugro to reduce 2026 capex to low end of EUR 150-165 mln range to support cash flow

Result Drivers
OIL & GAS, INFRASTRUCTURE GROWTH - Revenue increase driven by strong performance in oil & gas, infrastructure, and water markets
COST SAVINGS - EBIT margin improvement supported by cost reduction programme and revenue growth
OFFSHORE WIND WEAKNESS - Subdued offshore wind markets led to overcapacity and pricing pressure, weighing on performance

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
Beat
EUR 920.50 mln
EUR 869 mln (1 Analyst)
H1 Net Loss
 
EUR 62.10 mln
 
H1 EBIT
Beat
EUR 37.90 mln
EUR 23 mln (1 Analyst)
H1 EBITDA
Beat
EUR 130.90 mln
EUR 112 mln (1 Analyst)
H1 Adjusted Free Cash Flow
 
EUR 84.90 mln
 
H1 EBIT Margin
 
4.10%
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the oil related services and equipment peer group is "buy."
Wall Street's median 12-month price target for Fugro NV is €11.50, about 19.2% above its July 30 closing price of €9.65
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)