The supervisory board of Fugro and Barbara Geelen have jointly agreed that Geelen will step down from the board of management of Fugro per the close of the upcoming annual general meeting to be held on April 23, 2026.
Geelen will continue to contribute to Fugro in an advisory role until August 1, 2026, ensuring a smooth transition. She has held the position of Chief Financial Officer (CFO) and board of management member since 2021.
The supervisory board will now launch the search for a successor.
News of Geelen's decision to step down from the CFO post came in the days following Fugro's publishing of its financial results for full-year 2025, which indicated significant decreases in revenues and profits.
Fugro's revenues in the fourth quarter of 2025 reached €438.7 million (US$517.9 million) compared to €587.8 million (US$693.9 million) in the same quarter of the previous year. Full-year 2025 revenues totalled €1.848 billion (US$2.18 billion) compared to €2.275 billion (US$2.69 billion) for full-year 2024.
The company's gross operating profit in the fourth quarter of 2025 ended at €51.8 million (US$61.2 million) compared to €119.3 million (US$140.8 million) in Q4 2024. Full-year gross operating profit in 2025 was €267.9 million (US$316.3 million) compared to the full-year 2024 figure of €483.6 million (US$570.9).
Q4 2025 operating profit reached €5.5 million (US$6.5 million) compared to €71.8 million (US$84.8 million) in the same prior-year period. Full-year 2025 operating profit was €90.9 million (US$107 million) compared to the full-year 2024 figure of €314.6 million (US$371.4 million).