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Fugro NV (FUGRc.AS)

FUGRc.AS on Amsterdam Stock Exchange

15.44EUR
2 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Fugro Seabed Geosolutions, in cooperation with CGG, secured continuity in the Middle East
Thursday, 6 Oct 2016 01:12am EDT 

Fugro NV : Seabed Geosolutions, in cooperation with CGG, secured a new extension to its ongoing shallow water operations in the U.A.E. . Variation order from Abu Dhabi National Oil Company (ADNOC) covers Phase-II of Ghasha Field project. . This new survey is due to start in Otober and is expected to take approximately 9 months. It has a value of around USD 60 million. .Seabed Geosolutions is a joint venture between Fugro and CGG..  Full Article

Fugro divests Asia Pacific subsea services business to Shelf Subsea
Thursday, 4 Aug 2016 01:03am EDT 

Fugro Nv : Divests Asia Pacific subsea services business to Shelf Subsea . Transfer of 1 owned vessel, 3 chartered vessels and 18 rovs . Acquires equity interest of around 25 pct in Shelf Subsea in addition to receiving cash proceeds of AUS 20 million (around 14 million euros ($15.60 million)) . Transfer of approximately 285 Fugro employees .Transfer of Fugro subsea offices in Perth and Singapore.  Full Article

Fugro NV H1 net loss EUR 202.1 million
Thursday, 4 Aug 2016 01:03am EDT 

Fugro Nv : H1 adjusted EBITDA eur 98.9 million versus 105 million in reuters poll . H1 net loss eur 202.1 million versus loss of eur 23.7 million in reuters poll . Deteriorated market conditions led to non-cash impairments and other exceptional items of eur 151.7 million . H1 revenue eur 904.9 million versus eur 950 million in Reuters poll . H1 backlog next 12 months eur 1.07 billion versus eur 1.51 billion year ago . Outlook 2016: positive cash flow from operating activities after investments, further reduction of cost base . Outlook 2016: negative low single digit ebit margin (excluding exceptional items) expected for the full year .In h1, budgets of our oil & gas clients again declined significantly, with new projects being deferred or cancelled.  Full Article

Fugro partners with Elia for vegetation management
Friday, 29 Jul 2016 05:37am EDT 

Fugro NV :Fugro partners with electricity transmission system operator Elia for vegetation management.  Full Article

Fugro awarded geotechnical site investigation contract by ONGC India
Friday, 15 Jul 2016 01:00am EDT 

Fugro NV : Fugro awarded geotechnical site investigation contract by ONGC India . Value of this contract is approximately USD 26 million . Will deploy its deep water geotechnical vessel, Fugro Voyager, commencing before end of Q3 2016 Further company coverage: [FUGRc.AS] (Gdynia Newsroom) ((gdynia.newsroom@thomsonreuters.com; +48 58 698 3920;)).  Full Article

Court of Appeal rules in favour of Fugro and dismisses Boskalis' claim
Tuesday, 31 May 2016 02:59am EDT 

Fugro NV : Court of Appeal rules in favour of Fugro and dismisses Boskalis' claim Further company coverage: [FUGRc.AS] (Gdynia Newsroom) ((gdynia.newsroom@thomsonreuters.com; +48 58 698 3920;)).  Full Article

Fugro NV retrenches in face of oil and gas rout - Reuters News
Friday, 29 Apr 2016 05:10am EDT 

Fugro NV:Fugro said it was stepping up cost control efforts, cutting a further 600 jobs over coming quarters, as its oil and gas industry clients delayed contract awards and exploration budgets continued to shrink.In its first quarter trading update published on Friday, the company reported revenues of 441.1 million euros ($502.6 million), a year-on-year decline of 25.8 percent, while its backlog of orders for the coming 12 months was 22.3 percent down compared to a year ago.The company, whose fleet of manned and robotic vessels allow it to prospect for hard-to-reach deep-sea hydrocarbon deposits that are uneconomic when energy prices are low, has been concentrating on improving its cash flow and debt position."During the past months, our clients' exploration and production budgets again declined significantly," Chief Executive Paul van Riel said in a statement, as they anticipated "strong revenues decline and severe margin pressure.".Larger rival Boskalis BOSN.AS has been building a stake in Fugro, and now owns more than a quarter of its shares.The smaller company has rebuffed all suggestions it might be taken over, saying independence is essential to its business model.Headcount was 1,664 lower in the first quarter compared to a year ago, or 13 percent of total staff.The company plans to retire several vessels in its fleet, with further cuts planned if new work is not identified.  Full Article

Fugro comments on FY 2016 guidance
Friday, 29 Apr 2016 01:00am EDT 

Fugro NV:Outlook 2016: positive cash flow, further reduction of cost base and severe pressure on margins.  Full Article

Fugro to provide ROV services on board ONGC drillship off East India
Tuesday, 12 Apr 2016 08:00pm EDT 

Fugro NV:Fugro to provide ROV services on board ONGC drillship off East India.Contract involves providing support for deepwater drilling operations off east coast of india, in depths up to 900 metres.  Full Article

Fugro to perform seabed surveys at world's biggest offshore wind farm
Friday, 11 Mar 2016 12:34pm EST 

Fugro NV:Fugro to perform seabed surveys at world's biggest offshore wind farm.660Mw walney extension offshore wind farm is expected to be fully commissioned in 2019.  Full Article

Fugro H1 earnings slide by half, hit by energy market woes

AMSTERDAM, Aug 4 Marine engineer Fugro on Thursday reported a sharp fall in core earnings in the first half that missed analysts' expectations, hit by the rout in the oil and gas market.