Fugro has reported €160m in earnings before interest, tax, depreciation and amortisation (EBITDA) in the first half of 2023, against €97m in the same period in 2022.
EBITDA for the second quarter rose to €101m from €70.6m in the second quarter of 2022.
The company’s revenue grew by 24.1% in H1 2023, due to continued high client demand in energy markets, in particular for offshore wind site characterisation solutions and related nearshore activities, the company stated.
Fugro’s renewables-based business grew by over 60% in the period, as a result of more mature energy transition roadmaps in an increasing number of countries.
The 12-month backlog is up 21.3%, supported by marine business lines in all regions.
Fugro expects ongoing growth especially in the energy markets, in particular renewables, resulting in “strong revenue growth for the full year”.
Fugro CEO Mark Heine said: “Overall, better contracting conditions, increasing asset utilisation and better operational performance led to a significant improvement in particular in the marine site characterisation business.
“Across the globe, we are benefitting from high client demand for climate change adaptation and energy transition solutions, in particular for offshore wind developments.
“We are continuing on our trajectory of further diversification into future proof markets.
“At the same time, as expected, revenue in oil & gas is growing due to the need for energy security.”