Fugro reports a revenue of €2.2 billion for 2023. For the full year, the company realised 27.5% revenue growth on a currency comparable basis by successfully capturing high client demand in the offshore wind (+55%), and oil & gas (+37%) markets.
Marine increased by 37.9% while the utilisation of Fugro’s owned and long-term chartered fleet amounted to 75% compared to 72% last year. In Land, growth was limited to 3.2% as a result of subdued revenues in the infrastructure market (-9%) in some key geographies and business rationalisations in 2022 (France, Russia). The company reports an EBITDA of €397.3 million (18.2% margin) and an EBIT of €252.1 million (11.5% margin). Net result increases to €254.8 million compared to €74.1 million in 2022. For 2024 the company expects a continued revenue growth and EBIT margin within mid-term target range of 11-15%.
