Fugro sinks to over 3-year lows after guidance withdrawal

** Shares in Fugro FUR tumble more than 12% after the Dutch geological data specialist withdrew its annual outlook, citing project delays in the offshore wind and oil and gas markets

** The company says its previous revenue growth forecast of 20% is no longer realistic and is cutting costs across the board with the additional reduction of 300 jobs

** Project postponements into 2026 are resulting in an estimated revenue impact of around 100 million euros ($117.40 million), Fugro says

** KBC Securities flags this is the third profit warning in 12 months, and cuts its rating to "hold" from "accumulate", expecting further erosion of investors' trust

** "It is abundantly clear that the diversification between the renewable & traditional energy market is currently not paying off," KBC says

** Fugro shares hit their lowest price since March 2022

** Shares of Belgian peer Deme DEME also slip 2.4%

($1 = 0.8518 euros)