Fugro N.V. is a Dutch geo-data company with its registered office at Prismastraat 3 in Nootdorp, in the Netherlands, and shares listed on Euronext Amsterdam under the ticker FUR. It was founded in 1962 by Kornelis Joustra and employs more than 11,000 specialists in over 100 countries. Mark Heine chairs the board of management as chief executive and Harrie L.J. Noy chairs the supervisory board. The company divides its work into four service lines: marine site characterisation, marine asset integrity, land site characterisation and land asset integrity, sold into the energy, infrastructure and water industries.
Geo-data as the product
Fugro's offer is built on collecting and interpreting data about the ground and the seabed before and during construction and operation. Geophysical, geotechnical and geological disciplines are combined with survey vessels, remotely operated vehicles, uncrewed platforms and remote-operations centres. Electrification is part of the equipment story: the company says it pioneered electric cone penetration testing around 60 years ago and has since introduced battery-powered probing machines that can push deeper than earlier models.
First half of 2026
Fugro reported half-year results on 31 July 2026. Revenue for the first six months was EUR 920.5 million, a comparable increase of 4.3%, with second-quarter revenue of EUR 502.2 million, up 10.7% on a comparable basis. EBITDA rose to EUR 130.9 million from EUR 107.5 million, and EBIT reached EUR 37.9 million, lifting the EBIT margin to 4.1% from 2.3% a year earlier. The second quarter alone produced EBITDA of EUR 87.6 million against EUR 63.6 million a year before, and EBIT of EUR 39.8 million at a 7.9% margin against EUR 19.7 million at 4.3%. Growth came from oil and gas, infrastructure and water markets.
Profitability at the bottom line moved the other way. The net result was a loss of EUR 62.1 million against a loss of EUR 18.3 million in the first half of 2025, after asset impairments and the derecognition of deferred tax assets; basic earnings per share were negative EUR 0.56. Free cash flow improved to negative EUR 38.3 million from negative EUR 186.2 million a year earlier, helped by an EUR 87 million reduction in capital expenditure and an EUR 22 million lower working capital outflow. Specific items cut EBIT by EUR 47.7 million in the half.
Offshore wind weakness and cost actions
Management describes offshore wind as the pressure point. Subdued demand in several countries has produced overcapacity and pricing pressure in early-stage site characterisation, and the war in the Middle East disrupted operations during the period. The order book for the next 12 months stood at EUR 1,279.5 million, a comparable decline of 13.9%, including a 47% fall in renewables. In response the group is cutting capital expenditure for 2026 to around EUR 150 million, reducing working capital and rationalising its fleet, actions expected to deliver annualised cost reductions of EUR 50 million. Management told investors that the earlier expected margin improvement for the full year is now unlikely. The 2025 annual report had already flagged the year as challenging because of the slowdown in early-stage site characterisation work.
Selected project work
Oil and gas remains a live market. Petrobras awarded Fugro four multi-year contracts for the inspection and monitoring of critical subsea infrastructure in Brazil, announced on 27 June 2025, and remote subsea inspection work for the same operator features among the group's 2026 case studies. In offshore wind, Fugro completed geophysical and archaeological surveys for Energia Wind 2020 in November 2025 to support the 330 MW Rimini project, described as one of Italy's first fixed-bottom offshore wind developments, with the data used to select cable routes and inform engineering design. Onshore, the group published case studies in June 2026 on a GroundIQ three-dimensional risk assessment of a tailings dam and on geotechnical investigation for the US-51 Ohio River bridge.
Fugro publishes its results and analyst presentations through its investor relations pages and takes customer enquiries through web forms and regional office numbers rather than a public general e-mail address.