We didn’t see it
This statement by Paul van Riel, CEO of Fugro, in the Dutch financial newspaper Het Financieele Dagblad on 30th October, 2014. Fugro is the world’s largest integrator of geotechnical survey, subsea and geosciences services. The company is 70-80 percent dependent on what is going on in the oil and gas sector. In September 2013, Fugro launched its new “Growth through Leadership” strategy aimed at an annual growth of 10 percent in the next couple of years. In the spring of 2014, the first warnings were issued regarding under-performance and pressure on profitability.