Port of Aberdeen publishes 2025 financial results and Annual Review

Port of Aberdeen today published its 2025 financial results and Annual Review against a backdrop of accelerated decline in North Sea oil and gas activity and a renewed focus on diversifying into new sectors.

Turnover was £49.3 million, down from a record high of £50.7 million in 2024. Cargo and vessel tonnage decreased 7.6% to 28,450,288 tonnes, with almost 1,000 fewer vessel calls during the year. Operating profit was £18.8 million, reflecting the reduction in trading and one-off costs.

Oil and gas activity reduced by 16% year-on-year. The prolonged reduction in activity and revenue from this key sector led to a cost-reduction and restructuring process, resulting in 17 redundancies - equivalent to 15% of the workforce.

Activity at South Harbour continued to go from strength to strength - up 13.4% on 2024 – as the port secured an increasing number of larger vessels and projects in energy, cruise and cargo.

Bob Sanguinetti DL, CEO, Port of Aberdeen, said: “2025 was a year of sharp contrasts. The success of hosting The Tall Ships Races, one of Scotland's biggest tourism events, was set against a sharp decline in oil and gas activity. I want to acknowledge the contributions of our valued colleagues who have left during the organisational restructure and wish them the very best for the future.

“We started the year with a renewed focus on diversification and reinforcing our purpose - to create prosperity for generations. That hasn't changed, and neither has our commitment to the customers, communities and partners who depend on this port.”

During 2025, Port of Aberdeen reported significant achievements and milestones, including:

• Excellent safety performance, with zero lost time incidents and zero recordable incidents
• Hosted The Tall Ships Races which generated more than £32 million for the regional economy and created life-changing opportunities for over 240 local young people
• Progress towards net zero by 2040 with a 3.5% reduction in the port’s carbon footprint
• Launched the UK's largest operational shore power system
• Won 'Sustainable Supplier of the Year' at the Scottish Green Energy Supply Chain Awards
• Supported growth in regional tourism with 65 cruise calls (+33%) and 42,922 cruise guests (+96%)
• Welcomed 224,263 ferry passengers (+8.1%)
• Supported those most in need with £118,000 in charitable donations, including five multi-year strategic partnerships

Mr Sanguinetti continued: “Oil and gas remains our most significant sector and the reduction in activity last year was primarily driven by government policy, not geology. We are fully focused on supporting customers, consolidating our position, and building on our good progress with attracting jack-up rigs and other associated vessels.

“Offshore wind is a generational opportunity but port activity at scale remains frustratingly out of reach. We handle around 600 offshore wind vessels a year, yet it contributes only 1% of our revenue. While we progress plans to become fully project-ready for floating offshore wind, more Scottish developments need to progress at pace. Urgent action is required to accelerate planning, consenting and grid connections, and reduce transmission charges. There is a real risk that projects could be stranded, and the supply chain benefit will not materialise.”

Roy Buchan, Chair, Port of Aberdeen, said: "Like many organisations in the North East of Scotland, Port of Aberdeen felt the effects of a significant reduction in oil and gas activity during 2025. While headwinds are continuing into 2026, I am confident that we will continue to show the resilience and adaptability that has served the port well for almost 900 years.”

• Download our Annual Review
• Download our Financial Statement