Fugro's profit surpasses estimates amid offshore wind market concerns
31/10/2025 06:13
Oct 31 (Reuters) - Dutch geological data specialist Fugro FUGR.AS reported stronger-than-expected core earnings on Friday, but cautioned that worsening conditions in the offshore wind sector and tighter spending by energy firms could weigh on its performance in the final quarter.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) came in at 108.6 million euros ($126.7 million). That was above the 89 million euros anticipated by analysts according to a company-compiled consensus.
"The fourth quarter is expected to be significantly impacted by the continued deterioration in the offshore wind market, and by the temporary intensification of energy companies’ disciplined cash and cost management in response to lower oil prices," chief executive Mark Heine said in a statement.
($1 = 0.8575 euros)
(Reporting by Alban Kacher; Editing by Matt Scuffham)
((Alban.kacher@thomsonreuters.com; +48 58 769 65 87))