Fugro Nv · EURONEXT:FUR
Fugro Nv — Q3 2026 Earnings Presentation
12 slides from Fugro Nv's earnings presentation, Oct 30, 2026
Slide 1: Q3 2026 trading update
Q3 2026 trading update 30 October 2026
Slide 2: 3Q26 Revenue resilient, margin impacted by ongoing market challenges
3Q26 Revenue resilient, margin impacted by ongoing market challenges Revenue EBIT (margin) 100 12.9% 15 +2.2% 7.9% 10 50 5.2% 4.3% 65 505 502 525 0.2% 1.2% -0.4% 40 5 450 455 439 418 20 27 0 1 6 -2 0 -50 -5 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Modest gr
Slide 3: War in the Middle East
War in the Middle East Significant impacts YTD 2026; situation continues to be volatile YTD 2026 ▪ Operational adjustments have reduced impact of spoofing & jamming, although GNSS navigation signal disruptions continue to affect operations in Gulf region ▪ Some knock-on effects in other regions, eg
Slide 4: Vessel rationalisation programme
Vessel rationalisation programme Key contributor to annualised EUR 50 million cost reductions PERMANENT • STRUCTURAL 1 2 3 4 T E M P O R A R Y •5F L E X I B L E Retirement Charter reductions Relocation Cold lay-up Winter lay-up Permanent removal of owned Ending chartered vessels Cross-regional reloc
Slide 5: Ongoing recalibration; business mix shows value of diversification
Ongoing recalibration; business mix shows value of diversification Subdued offshore wind market largely offset by underlying growth of other markets Backlog by market segment 3Q26 vs 3Q251 (8.5%) 1,482 1,451 1,434 1,396 1,385 1,280 1,351 (36.3%) Overall 8.5% decline also reflects customers 370 355 3
Slide 6: Year-on-year revenue and margin development
Year-on-year revenue and margin development Revenue EBIT (margin) X EUR million Marine -2% Land +20% 12.9% 3 1 9 3 -5 13 -24 18 5.2% 505 2 525 65 27 Q3 2025 Europe- Americas Asia Middle Europe- Americas Asia Middle FX effect Q3 2026 Q3 2025 Marine Land Q3 2026 Africa Pacific East & Africa Pacific Ea
Slide 7: Free cash flow
Free cash flow Free cash flow Working capital X EUR million X EUR million, and as % of 12-month revenue -18 15.9% 17.1% 16.6% 17.7% 14.4% 15.1% 13.7% 12.8% 12.6% 60 8.2% Q3 26 -39 7.6% 0 3 358 323 303 311 310 335 284 264 253 172 181 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 D
Slide 8: Robust balance sheet
Robust balance sheet Long-term funding secured Net leverage X EUR million 1.8 1.9 1.7 1.4 1.2 1.2 0.7 0.6 0.5 0.5 0.2 466 469 482 442 464 473 474 429 437 411 345 359 382 331 274 240 265 255 278 245 198 96 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Net debt Adjusted EBITDA (las
Slide 9: Offshore wind essential for future energy supply
Offshore wind essential for future energy supply ▪ Strategic importance of offshore wind in Europe reaffirmed at North Sea Summit in Jan 2026, due to growing need for energy independence ▪ Continued industry realignment with prioritisation of financial discipline and delivery certainty, which is gra
Slide 10: For 2027, recovery expected in seabed licensing activity from 2026 low
For 2027, recovery expected in seabed licensing activity from 2026 low Underpinning expectation that offshore wind markets will start to recover from H2 2027 onwards ▪ Healthy tendering activity in Europe, but firm awards have yet to follow ▪ Driven by implementation of improved auction & contractin
Slide 11: Mid-term outlook oil & gas and infrastructure remains sound
Mid-term outlook oil & gas and infrastructure remains sound Offshore oil and gas market – Selective growth Infrastructure – Sustained activity levels ▪ Ongoing volatility due to ongoing Middle East hostilities ▪ Long-term investment programmes support near-term activity levels ▪ Upstream investments
Slide 12: FY 2026 Outlook unchanged
FY 2026 Outlook unchanged ▪ Market uncertainty is expected to persist in a seasonally slower Q4 2026, reflecting customer caution, industry overcapacity and ongoing war in the Middle East. ▪ These conditions are expected to continue to weigh on profitability, impacting the full-year margin. ▪ To sup