Half Year 2020 Fugro NV Earnings Call Transcript
Welcome to our half year results Webinar webcast. I'm Catrien Van Buttingha, Investor Relations, Fugro. I'm here with Mark Heine, CEO; and Paul Verhagen, CFO. I would like to hand over to Mark.
Yes. Thank you very much, Catrien. I will give a short introduction. Start the presentation with an introduction before I hand over to our CFO, Paul Verhagen, with more details about the financial results. But let me first give an initial overview of what we have achieved in the first half of 2020, and then in particular, in the second quarter of this year, we see obviously a steep decline related to COVID and the related decline in oil price and market there of 19.3% in the revenue. However, what is also worthwhile saying is that due to the cost measures that we put in quite immediately after the announcements of COVID, we stepped in very decisive, and immediately, we managed to reduce the cost in such a way that the second quarter ended up on
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