| 
World's leading Geo-data specialist Fugro recently released its half-year financial gain figures, which concluded on June 30, 2024. The firm recorded revenues of EUR 1,091.1 million for the first half of the year, down from EUR 1,018.3 million in the previous year. Net income increased to EUR 112.5 million from EUR 71.7 million in the previous year.
Continuing operations generated basic earnings per share of EUR 1 instead of EUR 0.64 in the previous year. Compared to a year ago, diluted profits per share from continuing operations was EUR 0.98, up from EUR 0.64. Compared to a year earlier, basic profits per share was EUR 1, up from EUR 0.66.
CEO Mark Heine: "I'm happy with the notable profit growth we've seen in the first half of the year, especially in our marine division. Better terms and conditions, operating leverage, and strong project execution supported the enhanced performance even while cost levels were still rising.
Key results-
- Robust 7.1% revenue increase fuelled by offshore wind customer demand, somewhat offsetting decreased oil and gas.
- Notable improvement in performance, with a 13.2% EBIT margin and 20.5% EBITDA, driven by robust marine performance, particularly in Europe and Africa.
- Renewables now account for more revenue than oil and gas combined (40% and 35%, respectively).
- The net result rises to 112.5 million euros.
- 16.6% 12-month increase in backlogs, bolstered by all regions.
Fugro states that the company is making good progress towards realising its full potential via the application of its strategy, which is bolstered by continuous investments in people, technology, and superior execution. Fugro Resolve and Fugro Resilience have been in operation since the beginning of July, facilitating more expansion in the thriving market for geotechnical site characterisation products. We can draw in the individuals we require to assist our clients. Despite competitive job markets, we employed over 1000 individuals in the first half of the year, and the voluntary staff turnover rate decreased to 9%.
Check the more results here- https://www.fugro.com/news/press-releases/2024/fugro-half-year-results-2024
