Published by Global Banking & Finance Review®
Posted on February 27, 2026
2 min readLast updated: April 2, 2026
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Fugro posted a €21 million loss in 2025 as renewables slackened, cutting dividend 80%, with CFO resigning, cost cuts delivered €120 m savings and capex slashed to €150‑165 m, while cautiously optimistic on offshore wind recovery.
By Hugo Lhomedet and Jerome Terroy
Feb 27 (Reuters) - Dutch geological data specialist Fugro on Friday reported a 21 million euro ($25 million) annual loss reflecting challenges in the offshore wind industry and said its finance chief would step down in April.
The Amsterdam-listed firm's consolidated revenue came in at 1.85 billion euros, 427 million euros less than in 2024, of which 380 million euros was attributable to the slowdown of the renewables market.
Fugro, which provides geotechnical, survey, subsea and geosciences services, took a hit partly as offshore wind clients suffered a downturn after U.S. President Donald Trump slammed the brakes on U.S. support for renewable energy.
"In the US under the current administration no new projects are expected," the company said in a press release.
Fugro's revenue mix continued to tilt toward oil and gas, which rose to 45% of revenue, up from 37% in 2024 while revenue from renewables slowed to 26% last year, down from 38% in 2024.
Its shares fell by around 10% in early Amsterdam trading.
The company slashed its dividend for the year by 80% to 0.15 euros.
"We're very careful after a year… where we have missed the guidance a number of times," CEO Mark Heine told reporters
The company withdrew its annual guidance in September and implemented a cost and capex reduction programme, effectively slashing a total of more than 1,000 jobs and aims at saving between 80-100 million euros.
Heine added that Fugro is "cautiously optimistic" for 2026.
To support free cash flow, Fugro said it will cut capital expenditure to between 150-165 million euros in 2026, down from 248 million euros in 2025, and lower working capital.
($1 = 0.8471 euros)
(Reporting by Hugo Lhomedet and Jerome Terroy in Gdansk; Editing by Matt Scuffham)
A sharp slowdown in offshore wind and renewables led to a €427 million revenue drop, largely accounting for the €21 million annual loss.
Renewables revenue fell from 38 % in 2024 to 26 % in 2025, while oil & gas rose to 45 %.
They implemented a programme saving €120 million annually, including cutting ~1,050 full‑time jobs and reducing capex.
Fugro expects margin improvement, lower capex (€150–165 m), early signs of offshore wind recovery—especially in Europe—and remains cautiously optimistic.
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