Hmmm... I just got a reminder on Twitter that I was behind schedule with my summary from different companies quarter reports. This is indeed very true. The problem comes from owning many companies and all of them release their annual as well as their Q1 reports at more or less the same time. I do not see how I will ever be able to keep up with that in the future unless I decide only to report annual and half year reports but that is not something I want to do. Nay, I will go on as I have and hopefully next year I will then no longer have the extra full-time study burden and will be able to respond quicker to the massive flow of reports that arrive in spring.
So what was then in this short operating report from Fugro?
For the report in full please go here and to see my previous summary then visit Fugro annual report 2014 and to find out more about Fugro then please click on analysis of Fugro 2015.
This summary will become almost as long as the report because there were almost nothing in it. What we see below is a horrible table because right now the only thing keeping Fugros head above the water is the weak euro and that everything in the oil gas industry is being done in dollars. Looking at the backlog with the currency then -23% is a lot! I start to see the reason for why they made such massive cuts because this is apparently what they prepared for.
On a side note... I was reading a paper regarding companies that had moved into Berlin and then I read Fugro which surprised me. I hope this is a strategical move to break into the German infrastructure market as well as that maybe they can assist with finding undetonated bombs from WW2 with their equipment that keeps popping up each time there are any changes to the infrastructure.
Conclusion: Fugro has a hard time but they have prepared for the worst and I am fully confident that they will make it out on the other side. The oil price is increasing again and with it the contracts will come back. Hopefully Fugro will in the meantime have broken into and discovered new markets which will then give them more revenue pillars to stand on in the future. I will remain as a shareholder.
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