- Published: 29 July 2021 29 July 2021
In the second quarter, Fugor’s revenue was up by 14.1%; the first increase since the start of the pandemic. Overall, first half-year revenue declined slightly despite growth in the renewables, infrastructure and nautical markets, which now represent 60% of Fugro’s revenue.
Revenue of the marine business lines across the regions increased by 11.8% in total. The growth was particularly strong in site characterisation in Europe-Africa, through continued growth in offshore wind and a slight increase in oil and gas related revenue. In Land, revenue increased by 20.2%, supported by both business lines. Through a combination of cost control and revenue growth, the margin was up to 8.1%, compared to 7.4% last year. The 12-month backlog is up 3.3%, supported by all business lines except marine site characterisation. For full-year 2021, growth is expected to continue in the renewables, infrastructure and nautical markets. The modest recovery of the oil and gas market in the second quarter is expected to continue.