Welcome to the 2025 Annual Report
Arcadis delivered mixed results in 2025. Strong demand in North America and Europe, together with leading positions in high-growth markets such as energy, water, climate, and technology, continued to drive performance. However, our growth was significantly hampered by performance in the Places GBA, driven by Property & Investment, as well as performance in the UK and Australia, primarily due to the winding down of large contracts in the mobility sector. In response, we took rightsizing actions to reduce overhead and improve cost efficiency. Our performance was significantly impacted by a decline in our property and investment activities. This was driven by a sharp slowdown in Canada’s construction industry amid labor shortages, rising material costs, and shifting trade dynamics together with challenges as a result of the implementation of Oracle ERP in Canada.
In addition, several of our European clients in the semiconductor, pharmaceutical, and automotive industries postponed large capital investments, putting pressure on growth. Towards the end of 2025, demand from the US pharmaceutical sector picked up, supporting the Places backlog.
Despite these headwinds, we strengthened our leading positions and boosted order intake in high-growth markets such as water and infrastructure in North America, as well as in energy transition and data center delivery. Our data center solutions performed particularly well, with Arcadis offering end-to-end services, from site selection and planning to sustainable delivery and operations – positioning us as a trusted partner for developers, hyperscalers, and utilities. The acquisition of German data center design and engineering firm KUA Group in March further enhanced our ability to capture high-value projects in this sector.
Infrastructure and water optimization solutions delivered notable wins including the $2.3 billion Calcasieu Bridge in the US, the multi-year transformation of Amsterdam Central Station, and the modernization and expansion of water and wastewater facilities for Sabesp in Brazil. Momentum is also building in energy security and grid investment, supported by our Energy Transition Academy, which has trained around 800 Arcadians and equipped them with the specialist skills needed to help clients navigate the growing energy market in Europe and the US.
In response to our performance in the third quarter, we took further rightsizing actions, primarily within our support functions, to reduce overhead and drive cost efficiencies. At the same time, we intensified our focus on improving win rates by investing in a stronger sales force in key growth markets, while aligning remuneration to include an individual performance component, fostering a more commercial mindset and stronger incentives across the organization.
Arcadis' outlook is shaped by both urgency to drive performance and new opportunities in the market.
Digital innovation continued to deliver tangible impact as we helped our clients predict and optimize their Capex and Opex needs. Investments in automation, standardization and our digital product suite, combined with a push on AI, supported multi-year client wins. Enterprise Decision Analytics (EDA) secured engagements with clients including Amtrak and Barclays, while Climate Risk Nexus delivered strong results in a year marked by extreme weather events, helping clients anticipate and manage climate risks. We implemented Microsoft Fabric as a unified data platform and applied data and digital tools directly to project delivery. Together, these capabilities are transforming how we deliver value, blending cutting-edge digital solutions with human expertise to drive growth and reinforce our position as a trusted, forward-looking partner.
In line with our strategic capital allocation strategy of maximizing shareholder value while maintaining a strong and resilient balance sheet we announced a €175 million share buyback program in September 2025, which was concluded in January 2026. Furthermore, we successfully acquired and successfully integrated WSP Germany Rail Business and KUA group GmbH, doubling Arcadis' presence in Germany.
As we look ahead to the final year of our three-year strategy cycle, Arcadis’ outlook is shaped by both urgency to drive performance and new opportunities in the market. To continue advancing at the pace our business and clients demand – simplifying operations, strengthening sales capabilities and adapting to evolving client needs – we must keep evolving our leadership too.
I will therefore step down as Chief Executive Officer and hand over the reins to Heather Polinsky from 1 March 2026. Heather’s deep experience in strategy, global operations and client development makes her exceptionally well equipped to deliver Arcadis’s commercial potential. By maintaining our focus on growth opportunities, commercial excellence, and operational simplicity, we can ensure a stronger, more resilient Arcadis for the years ahead.
Alan Brookes, CEO
Strengthening São Paulo’s water infrastructure
A major role in Brazil’s Universal Water Supply and Sewerage Program
Maximizing value for Places for London
Unlocking the potential of London’s transport estate through sustainable regeneration
Replacing the Calcasieu River Bridge
Bringing a 1940s solution into the twenty-first century
