High client demand brings ‘strong’ 2023 to Fugro

(Offshore-energy.biz) Fugro has reported revenue of €2.2 billion for 2023, a 27.5% growth from €1.7 billion in 2022, said to be driven by high client demand in energy markets.

For the full year of 2023, Fugro reported it had realized revenue growth on a currency-comparable basis by capturing high client demand in the offshore wind (+55%) and oil & gas (+37%) markets.

Marine increased by 37.9% while the utilization 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 rationalizations in 2022 (France, Russia).

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