Fugro arrived with their Q1 report which is a trading update that contains... well... not much. The share price started, if I remember correctly, diving down again after this report had been published. Mr. Market had different expectations than what Fugro delivered.
For the report in full please go here and to see my previous summary then visit Fugro annual report 2015 and to find out more about Fugro then please click on analysis of Fugro 2016.
As can be seen in the minimalistic update below the decrease in revenue was significant with -26%. Additional salt into the wound is that the backlog is down by almost -30%. This is not good news. Not good news at all.
Conclusion: Fugro keeps surviving in a difficult environment that they had zero preparation for. I will remain as a grumpy shareholder.
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