Fugro (FUR) Guidance summary

Opening remarks and agenda

• Announced withdrawal of full-year 2025 financial guidance due to significant recent market changes, with a notable improvement still expected in H2 over H1.

• Q3 trading update scheduled for October 31, with more details to be provided then.

Guidance on key objectives

• Previously anticipated 20% revenue growth for 2025 is no longer realistic due to project postponements and de-scoping, with most delayed to 2026.

• EBIT margin guidance of 8%-11% for the year has been withdrawn, with no new margin target provided.

• Revenue impact estimated at around EUR 100 million due to project postponements and descoping.

• Financial guidance for full year 2025 has been withdrawn.

Market trends and strategic opportunities

• Offshore wind market is particularly weak, impacted by major industry announcements, regulatory uncertainty, and softened sentiment in Europe and the Americas.

• Oil and gas market shows increased activity but faces project delays due to clients' intensified cash and cost management and lower commodity prices.

• Americas region shows stabilizing trends and emerging opportunities, especially in LNG, but timing remains uncertain.

• Activity levels expected to increase, but timing remains uncertain, especially in Europe-Africa.