Fugro lost 21 million euros in 2025 due to weakened offshore wind demand, mainly in the U.S., leading to major cost cuts and a dividend reduction.

Fugro, a Dutch geoscientific services company, reported a 21 million euro net loss in 2025, reversing prior profits due to a downturn in offshore wind, especially in the U.S. where policy changes halted new projects. Revenue fell to 1.85 billion euros, with 380 million euros lost to weakened renewables demand; oil and gas now make up 45% of revenue, up from 37%. The company cut its dividend by 80%, reduced headcount by over 1,000, and lowered capital spending to 150–165 million euros in 2026. CFO Barbara Geelen will step down after the 2026 AGM, with a transition period through August. CEO Mark Heine expressed cautious optimism for 2026 amid ongoing restructuring. Fugro’s shares dropped about 10% in early trading.