Fugro Nv · EURONEXT:FUR

Fugro Nv — Q3 2025 Earnings Presentation

14 slides from Fugro Nv's earnings presentation, Nov 1, 2025

  1. Slide 1: Q3 2025 trading update

    Q3 2025 trading update

  2. Slide 2: Q3 performance better than previous quarters…

    Q3 performance better than previous quarters… Revenue EBIT margin  Ongoing challenging business environment offshore wind, alongside temporary EUR 505 mln 12.9% slowdown oil & gas project start-ups QoQ +11.0% Q2 2025: 4.3% YoY -12.6% Q3 2024: 16.7%  Notable improvement Q3 performance compared to H

  3. Slide 3: ... while headwinds remain (1/2)

    ... while headwinds remain (1/2) Ongoing challenging business environment offshore wind IEA significantly revised offshore wind capacity 2030 outlook across regions Short term  Developers’ reduced appetite for new sites until market turbulence subsides GW to be commissioned in 2025-30 compared to 2

  4. Slide 4: ... while headwinds remain (2/2)

    ... while headwinds remain (2/2) Temporary slowdown oil & gas project start-ups Long-term oil demand indicates potential for new upstream developments Targeted exploration programmes, with strong emphasis on timelines and cost efficiency, as clients focus on short-cycle high profitability developmen

  5. Slide 5: Solid mid- to long-term market fundamentals

    Solid mid- to long-term market fundamentals Infrastructure supported by long-term Recalibration of OWF market Modest growth O&G market investment programmes Expenditure CAGR (’25-’29) Expenditure CAGR (’25-’29) Expenditure CAGR (’25-’29) Capex 11% Capex -1% Capex 7% Opex 13% Opex 1% Opex 7% 62 243 2

  6. Slide 6: Q3 performance improved compared to previous quarters

    Q3 performance improved compared to previous quarters Revenue 588 597 588 503 450 455 505 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 EBIT (margin) 16.9% 16.7% 100 8.8% 12.9% 20 12.2% 50 99 99 4.3% 10 72 0.2% 65 44 20 0 1 0 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Operating cash flow 121 124 95 95 65

  7. Slide 7: Year-on-year revenue and margin development

    Year-on-year revenue and margin development Revenue X EUR million Marine -12% Land -15% -28 -12 -29 12 -10 0 -9 1 -17 597 505 Q3 2024 Europe-Africa Americas Asia Pacific Middle East Europe-Africa Americas Asia Pacific Middle East FX effect Q3 2025 & India & India EBIT (margin) Marine  Americas: no

  8. Slide 8: Recalibration of markets visible in backlog

    Recalibration of markets visible in backlog Reduction in renewables exposure, partly offset by growth oil & gas order book 12-month backlog – Total and by market segment -11.5%1 1,686 1,544 1,521 88 1,567 1,482 Backlog mix shows value of diversification strategy 1,451 1,434 62 63 89 335 75 59 55 307

  9. Slide 9: Cost reduction programme EUR 100-120 million well underway

    Cost reduction programme EUR 100-120 million well underway  Workforce reduction of 1,050 FTEs; up from previously communicated reduction of 750 FTEs  Reducing short-term charters, third party personnel and equipment  Hiring freeze for non-project staff  Optimising the fleet and operations, inclu

  10. Slide 10: Operating cashflow of EUR 95 million

    Operating cashflow of EUR 95 million Free cash flow Q3 2025 Working capital X EUR million X EUR million, and as % of 12-month revenue 15.6% 15.9% 14.4% 15.1% -34 14.1% 13.2% 12.8% 12.6% 95 -30 Q3 25 -6 1 8.9% 8.2% 7.6% 26 324 358 323 275 284 303 247 264 194 172 181 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 2

  11. Slide 11: Robust balance sheet

    Robust balance sheet Net leverage Net debt development Q3 2025 X EUR million 1.2 1.2 X EUR million 0.7 0.6 0.5 0.5 0.2 437 411 26 1 1 466 465 482 429 442 437 411 347 359 331 274 240 198 96 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 jun-25 free cash flow additions FX sep-25 to leases Net debt Adjusted

  12. Slide 12: Outlook 2025

    Outlook 2025  Challenging winter season, with Q4 2025 materially affected by project descoping and deferrals into 2026  Too early to provide outlook for 2026, against a backdrop of  Global activity in offshore wind remains subdued  Selective expansion in oil & gas market  Fugro maintains robust

  13. Slide 13: For inquiries contact Director Investor Relations

    For inquiries contact Director Investor Relations Catrien van Buttingha Wichers c.vanbuttingha@fugro.com 13

  14. Slide 14: Disclaimer

    Disclaimer This presentation contains information that qualifies as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. This announcement may contain forward-looking statements. Forward-looking statements are statements that are not historical facts, including (b

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