Sweco and Fugro report mixed third-quarter financial results

Sweco Group reported positive growth across several European markets in the third quarter of 2026. In Sweden, Sweco Sverige saw EBITA increase by 39 percent to 51 MSEK, driven by higher utilization rates and average fees. The Norwegian division also reported solid results, with organic growth of 6 percent and an improved EBITA margin of 6.9 percent. In the Netherlands, Sweco Nederland achieved a 5.5 percent revenue increase, supported by strong demand in the water, environment, and energy transition sectors.

In contrast, geological data specialist Fugro reported a significant earnings miss. The company’s adjusted operating result fell by 58 percent to 27.2 million euros, which was below analyst expectations. Fugro attributed these results to several factors, including price pressure in the maritime survey sector, high costs related to the conflict in the Middle East, and a decline in the offshore wind market.

Fugro CEO Mark Heine noted that disruptions linked to the Iran war, including GPS jamming and vessel movement restrictions in the Gulf, dented earnings by approximately 25 million euros this year. To mitigate these operational challenges, the company is deploying new antennas and software to improve vessel resilience against signal interference.