Fugro has withdrawn its financial guidance for 2025 due to shifting market conditions. Offshore wind has contributed to weaker market sentiment, though the largest impact is in oil and gas, where lower commodity prices have delayed projects despite higher activity levels. The effect is seen across regions, particularly in early-stage site characterisation and in the Europe-Africa region, where Fugro operates much of its fleet.
The company had expected revenue growth of 20% in the second half of the year, but now anticipates a revenue impact of around € 100 million, as many projects are postponed into 2026 or reduced in scope.
To safeguard profitability and cash flow, the company is extending its cost reduction programme. This includes an additional 300 job cuts on top of the previously announced 750, optimisation of fleet operations with some geophysical vessels to be warm-stacked over the winter, and tighter capital discipline. Annualised savings of € 80–100 million are already in progress, while the new measures will begin to take effect later in 2025, with full impact expected in 2026. Capital expenditure for 2026 will also be cut significantly. A further update will be provided with the Q3 trading statement on 31 October 2025.
