Fugro has published its financial results for full-year 2025.
The company said its performance in 2025 was affected by challenging offshore wind markets, and a temporary slowdown in oil and gas project start-ups during the latter part of the year, as previously indicated.
Revenues in the second 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.
Q4 2025 gross operating profit 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).
"Uncertain markets and a shifting geopolitical landscape affected the overall business climate, prompting many clients to reassess the timing and scope of their projects," said Fugro CEO Mark Heine. "Notably, offshore wind slowed significantly across several countries, reducing demand for early-stage site characterisation work.
"We responded decisively, and after right-sizing our operations during recent quarters, we enter 2026 better positioned: leaner, more focused and more resilient."
Heine remarked that the offshore wind market, in Europe in particular, is showing early signs of recovery as governments and industry collaborate to revitalise the sector, "which is vital for a secure and balanced energy system," and that fossil fuels will remain significant for the foreseeable future, thus ensuring continued demand for the company's services.
