Cadeler Reports Strong 2025 Annual Results with Fleet Expansion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 hours ago
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Should l Buy CDLR?
Source: Newsfilter
- Financial Performance Growth: Cadeler reported a revenue of EUR 620 million for 2025, an increase of EUR 371 million from EUR 249 million in 2024, reflecting strong operational performance driven by fleet expansion and high utilization, which enhances its competitive position in the offshore wind market.
- Significant EBITDA Improvement: The EBITDA for 2025 reached EUR 425 million, up from EUR 126 million in 2024, while net profit surged from EUR 65 million to EUR 280 million, indicating a substantial enhancement in profitability and further solidifying the company's financial foundation.
- Strong Order Backlog: As of March 24, 2026, Cadeler's order backlog stood at EUR 2.8 billion, up from EUR 2.3 billion at the end of 2024, demonstrating continued activity in the offshore wind installation and service markets, which enhances revenue visibility for the future.
- Strategic Investment and Expansion: In 2025, Cadeler expanded its fleet, doubling the number of wind installation vessels from five to ten, with all new vessels delivered on budget and on schedule, reflecting the company's long-term strategy and adaptability in offshore wind projects.
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About CDLR
Cadeler A/S is a Denmark-based company engaged in the engineering and construction industry, with a specialized focus on the offshore wind energy sector. The Company provides services for the transportation, installation, maintenance, and decommissioning of offshore wind turbine generators (WTGs), foundations, and platform topsides/substations. Cadeler A/S operates exclusively within the offshore wind industry and positions itself as a key enabler of the global energy transition toward renewable energy. The Company’s service portfolio includes offshore construction, heavy lift operations, project cargo handling, and accommodation services. Cadeler A/S also provides support for operations and maintenance activities, ensuring long-term performance and reliability of offshore wind assets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Cadeler Reports Strong 2025 Annual Results with Fleet Expansion
- Financial Performance Growth: Cadeler reported a revenue of EUR 620 million for 2025, an increase of EUR 371 million from EUR 249 million in 2024, reflecting strong operational performance driven by fleet expansion and high utilization, which enhances its competitive position in the offshore wind market.
- Significant EBITDA Improvement: The EBITDA for 2025 reached EUR 425 million, up from EUR 126 million in 2024, while net profit surged from EUR 65 million to EUR 280 million, indicating a substantial enhancement in profitability and further solidifying the company's financial foundation.
- Strong Order Backlog: As of March 24, 2026, Cadeler's order backlog stood at EUR 2.8 billion, up from EUR 2.3 billion at the end of 2024, demonstrating continued activity in the offshore wind installation and service markets, which enhances revenue visibility for the future.
- Strategic Investment and Expansion: In 2025, Cadeler expanded its fleet, doubling the number of wind installation vessels from five to ten, with all new vessels delivered on budget and on schedule, reflecting the company's long-term strategy and adaptability in offshore wind projects.
See More
Cadeler A/S Reports Strong FY 2024 Earnings
- Significant Revenue Growth: Cadeler A/S reported FY 2024 revenue of €620 million, a remarkable 149% increase year-over-year, indicating strong demand and a significant increase in market share within the offshore wind sector.
- EBITDA Surge: The company's EBITDA for 2024 reached €425 million, up from €126 million in 2023, reflecting improved operational efficiency and successful cost management strategies.
- Net Profit Increase: Cadeler's net profit soared to €280 million in 2024, compared to €65 million in the previous year, demonstrating enhanced profitability and improved financial health.
- Growing Order Backlog: As of now, Cadeler's order backlog stands at €2.8 billion, up from approximately €2.3 billion at the end of 2024, indicating a stable revenue stream and growth potential for the coming years.
See More
Cadeler Signs O&M Contract for Taiwan Offshore Wind Farms
- New Contract Signing: Nexra confirms the signing of a 3-4 month Operations & Maintenance (O&M) contract with an undisclosed client for offshore wind farms in Taiwan, expected to be completed in 2026, further solidifying Cadeler's position in the Taiwanese market.
- Growing Wind Market Demand: As more 10-15 MW turbines come online globally, Nexra's O&M service platform is poised to meet the increasing demand for complex maintenance and major component exchanges, thereby enhancing Cadeler's long-term client relationships.
- Flexible Service Capability: Jacob Gregersen, Cadeler's Chief Growth Officer, states that with a versatile fleet operating globally, Nexra can quickly respond to client needs, ensuring safe and efficient execution of offshore wind farm operations across different jurisdictions.
- Market Share Enhancement: The O&M market accounted for one-fifth of Cadeler's revenue in 2025, and as offshore wind markets mature, Cadeler is well-positioned to provide reliable service support throughout the installation and operational lifecycle due to its modern fleet and strong presence in the Asia-Pacific region.
See More
Cadeler Signs O&M Contract in Taiwan
- Contract Signing: Nexra, a division of Cadeler, has signed a firm Operations & Maintenance (O&M) contract valued at over EUR 20 million with an undisclosed client, set to commence in March 2026 across two offshore wind farms in Taiwan, establishing a strong foothold in the growing offshore wind aftermarket.
- Project Execution: The O&M campaign will last for 3-4 months and will be executed by Cadeler's wind installation vessel, Wind Maker, showcasing Nexra's execution strength and flexibility in responding to client needs during the operational phase of offshore wind projects, thereby enhancing client trust.
- Growing Market Demand: O&M activities are projected to account for approximately one-fifth of Cadeler's total revenue by 2025, reflecting the increasing installed base of offshore wind turbines and the deployment of the latest generations of large turbines, indicating significant market potential and Cadeler's strategic focus.
- Expansion in Asia-Pacific: With this new campaign in Taiwan, Nexra continues to expand its footprint in the Asia-Pacific region, emphasizing Cadeler's commitment to long-term partnerships throughout the operational lifecycle of offshore wind farms, thereby strengthening its role in the global renewable energy transition.
See More
Cadeler Signs Preferred Supplier Agreement for Offshore Wind Project
- Supplier Agreement Signed: Cadeler has signed a preferred supplier agreement with an undisclosed client for the transportation and installation of monopiles and transition pieces at a large offshore wind farm in European waters, reflecting the client's ongoing confidence in Cadeler's capabilities in offshore wind foundation services.
- Project Timeline: The installation campaign is expected to commence in the first half of 2028, utilizing two of Cadeler's wind installation vessels, including a new A-class series vessel designed for XXL foundation installation, ensuring efficient project execution.
- Market Expansion: This agreement marks Cadeler's first full-scope foundation T&I project outside the United Kingdom, further solidifying its position as a full-service provider in offshore wind and showcasing its growing experience across jurisdictions.
- Commitment to Safety and Reliability: CEO Mikkel Gleerup emphasizes the company's focus on safe execution and reliable project delivery, as Cadeler continues to build its pipeline of complex foundation projects, demonstrating its commitment to enabling the global transition to renewable energy.
See More
Cadeler Signs Preferred Supplier Agreement for Offshore Wind Project
- Agreement Signing: Cadeler has signed a preferred supplier agreement with an undisclosed client for the transportation and installation of monopiles and transition pieces at a large offshore wind farm in European waters, indicating the company's ongoing development in offshore wind foundation services.
- Project Timeline: The installation campaign is expected to commence in the first half of 2028, utilizing two of Cadeler's wind installation vessels, including one of the new A-class series designed for XXL foundation installation, showcasing the company's capabilities in handling large-scale projects.
- Market Expansion: This agreement marks Cadeler's first full-scope foundation T&I project outside the United Kingdom, further solidifying its position as a global leader in offshore wind installation and laying the groundwork for future international projects.
- CEO Commentary: Cadeler's CEO Mikkel Gleerup stated that the signing of this agreement reflects continued confidence in the company's capabilities within offshore wind foundation transportation and installation, emphasizing a focus on safe execution and reliable project delivery.
See More
Cadeler Reports Strong 2025 Annual Results with Fleet Expansion
- Financial Performance Growth: Cadeler reported a revenue of EUR 620 million for 2025, an increase of EUR 371 million from EUR 249 million in 2024, reflecting strong operational performance driven by fleet expansion and high utilization, which enhances its competitive position in the offshore wind market.
- Significant EBITDA Improvement: The EBITDA for 2025 reached EUR 425 million, up from EUR 126 million in 2024, while net profit surged from EUR 65 million to EUR 280 million, indicating a substantial enhancement in profitability and further solidifying the company's financial foundation.
- Strong Order Backlog: As of March 24, 2026, Cadeler's order backlog stood at EUR 2.8 billion, up from EUR 2.3 billion at the end of 2024, demonstrating continued activity in the offshore wind installation and service markets, which enhances revenue visibility for the future.
- Strategic Investment and Expansion: In 2025, Cadeler expanded its fleet, doubling the number of wind installation vessels from five to ten, with all new vessels delivered on budget and on schedule, reflecting the company's long-term strategy and adaptability in offshore wind projects.
See More
Cadeler A/S Reports Strong FY 2024 Earnings
- Significant Revenue Growth: Cadeler A/S reported FY 2024 revenue of €620 million, a remarkable 149% increase year-over-year, indicating strong demand and a significant increase in market share within the offshore wind sector.
- EBITDA Surge: The company's EBITDA for 2024 reached €425 million, up from €126 million in 2023, reflecting improved operational efficiency and successful cost management strategies.
- Net Profit Increase: Cadeler's net profit soared to €280 million in 2024, compared to €65 million in the previous year, demonstrating enhanced profitability and improved financial health.
- Growing Order Backlog: As of now, Cadeler's order backlog stands at €2.8 billion, up from approximately €2.3 billion at the end of 2024, indicating a stable revenue stream and growth potential for the coming years.
See More
Cadeler Signs O&M Contract for Taiwan Offshore Wind Farms
- New Contract Signing: Nexra confirms the signing of a 3-4 month Operations & Maintenance (O&M) contract with an undisclosed client for offshore wind farms in Taiwan, expected to be completed in 2026, further solidifying Cadeler's position in the Taiwanese market.
- Growing Wind Market Demand: As more 10-15 MW turbines come online globally, Nexra's O&M service platform is poised to meet the increasing demand for complex maintenance and major component exchanges, thereby enhancing Cadeler's long-term client relationships.
- Flexible Service Capability: Jacob Gregersen, Cadeler's Chief Growth Officer, states that with a versatile fleet operating globally, Nexra can quickly respond to client needs, ensuring safe and efficient execution of offshore wind farm operations across different jurisdictions.
- Market Share Enhancement: The O&M market accounted for one-fifth of Cadeler's revenue in 2025, and as offshore wind markets mature, Cadeler is well-positioned to provide reliable service support throughout the installation and operational lifecycle due to its modern fleet and strong presence in the Asia-Pacific region.
See More
Cadeler Signs O&M Contract in Taiwan
- Contract Signing: Nexra, a division of Cadeler, has signed a firm Operations & Maintenance (O&M) contract valued at over EUR 20 million with an undisclosed client, set to commence in March 2026 across two offshore wind farms in Taiwan, establishing a strong foothold in the growing offshore wind aftermarket.
- Project Execution: The O&M campaign will last for 3-4 months and will be executed by Cadeler's wind installation vessel, Wind Maker, showcasing Nexra's execution strength and flexibility in responding to client needs during the operational phase of offshore wind projects, thereby enhancing client trust.
- Growing Market Demand: O&M activities are projected to account for approximately one-fifth of Cadeler's total revenue by 2025, reflecting the increasing installed base of offshore wind turbines and the deployment of the latest generations of large turbines, indicating significant market potential and Cadeler's strategic focus.
- Expansion in Asia-Pacific: With this new campaign in Taiwan, Nexra continues to expand its footprint in the Asia-Pacific region, emphasizing Cadeler's commitment to long-term partnerships throughout the operational lifecycle of offshore wind farms, thereby strengthening its role in the global renewable energy transition.
See More
Cadeler Signs Preferred Supplier Agreement for Offshore Wind Project
- Supplier Agreement Signed: Cadeler has signed a preferred supplier agreement with an undisclosed client for the transportation and installation of monopiles and transition pieces at a large offshore wind farm in European waters, reflecting the client's ongoing confidence in Cadeler's capabilities in offshore wind foundation services.
- Project Timeline: The installation campaign is expected to commence in the first half of 2028, utilizing two of Cadeler's wind installation vessels, including a new A-class series vessel designed for XXL foundation installation, ensuring efficient project execution.
- Market Expansion: This agreement marks Cadeler's first full-scope foundation T&I project outside the United Kingdom, further solidifying its position as a full-service provider in offshore wind and showcasing its growing experience across jurisdictions.
- Commitment to Safety and Reliability: CEO Mikkel Gleerup emphasizes the company's focus on safe execution and reliable project delivery, as Cadeler continues to build its pipeline of complex foundation projects, demonstrating its commitment to enabling the global transition to renewable energy.
See More
Cadeler Signs Preferred Supplier Agreement for Offshore Wind Project
- Agreement Signing: Cadeler has signed a preferred supplier agreement with an undisclosed client for the transportation and installation of monopiles and transition pieces at a large offshore wind farm in European waters, indicating the company's ongoing development in offshore wind foundation services.
- Project Timeline: The installation campaign is expected to commence in the first half of 2028, utilizing two of Cadeler's wind installation vessels, including one of the new A-class series designed for XXL foundation installation, showcasing the company's capabilities in handling large-scale projects.
- Market Expansion: This agreement marks Cadeler's first full-scope foundation T&I project outside the United Kingdom, further solidifying its position as a global leader in offshore wind installation and laying the groundwork for future international projects.
- CEO Commentary: Cadeler's CEO Mikkel Gleerup stated that the signing of this agreement reflects continued confidence in the company's capabilities within offshore wind foundation transportation and installation, emphasizing a focus on safe execution and reliable project delivery.
See More
