Research analysts who have asked questions during Cadeler earnings calls.
JF
Jamie Franklin
Jefferies
8 questions for CDLR
Also covers: THNPY, TS
Åsne Holsen
ABG Sundal Collier
5 questions for CDLR
MK
Martin Karlsen
DNB Markets
5 questions for CDLR
BN
Benjamin Nolan
Stifel
3 questions for CDLR
Also covers: ASC, CMRE, CNI +17 more
PD
Petter Diskerud Billing
SEB
3 questions for CDLR
Roald Hartvigsen
Clarksons Securities AS
3 questions for CDLR
DH
Daniel Hogland
ABG Sundal Collier
2 questions for CDLR
MH
Martin Husby Karlsson
DNB
2 questions for CDLR
Recent press releases and 8-K filings for CDLR.
Cadeler A/S Reports Insider Share Purchases
CDLR
- Cadeler A/S announced that BW Altor Pte. Ltd., an entity closely associated with Chairman Andreas Sohmen-Pao, purchased shares in the company.
- On November 27, 2025, BW Altor Pte. Ltd. acquired 17,510,330 shares at an average price of NOK 44.50 per share, for a total of NOK 779,209,685.00.
- Further share purchases by BW Altor Pte. Ltd. occurred on November 28, 2025, totaling 160,182 shares at an approximate average price of NOK 43.72 per share, with a total value of approximately NOK 7,003,464.86.
Dec 1, 2025, 2:55 PM
Cadeler Secures Additional EUR 60 Million Green Corporate Loan Facility
CDLR
Debt Issuance
New Projects/Investments
- On December 1, 2025, Cadeler A/S announced it secured an additional unsecured green corporate term loan facility of EUR 60 million, with a non-committed accordion option up to EUR 80 million.
- The facility has a tenor of up to five years and was arranged and coordinated by The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (HSBC) and Clifford Capital Holdings Pte. Ltd. (Clifford Capital), who also serve as lenders.
- This financing will be used for general corporate purposes, enhancing Cadeler's balance sheet and financial flexibility to support strategic priorities and maintain financial resilience.
Dec 1, 2025, 11:03 AM
Cadeler Announces Successful Delivery of Wind Mover Vessel
CDLR
New Projects/Investments
Product Launch
- Cadeler A/S announced the successful delivery of Wind Mover, its tenth vessel and the second in the M-class series, on November 28, 2025.
- The Wind Mover was delivered ahead of schedule and within budget, and is immediately contracted for operations in Europe.
- This new vessel is equipped with a 2,600-tonne main crane and a DP2 positioning system, designed for installing and maintaining next-generation offshore wind turbines and foundations.
- With this delivery, Cadeler has doubled its fleet to ten wind turbine installation vessels in the past twelve months, with plans to operate a 12-vessel fleet by mid-2027.
Nov 28, 2025, 9:52 PM
Cadeler A/S Reports Strong Q3 2025 Financial Results and Updates Full-Year Outlook
CDLR
Earnings
Guidance Update
New Projects/Investments
- Cadeler A/S reported strong financial performance for Q3 2025 and 9M 2025, driven by increased utilization and the addition of new vessels, and provided its full-year 2025 outlook. Key financial figures are presented below:
| Metric | Q3 2024 | Q3 2025 | 9M 2024 | 9M 2025 | FY 2025 Outlook |
|---|---|---|---|---|---|
| Revenue (€ Millions) | €80.6 | €154.3 | €162.8 | €452.8 | €588 - €628 |
| EBITDA (€ Millions) | €48.4 | €109.1 | €70.2 | €321.6 | €381 - €421 |
- The company maintains a substantial contract backlog of €2.9 billion as of November 20, 2025, offering significant earnings visibility, with 78% of this backlog tied to projects that have achieved a positive final investment decision.
- Cadeler A/S is actively expanding its fleet, having delivered three new vessels in 2025 (Wind Maker, Wind Peak, Wind Pace, Wind Ally) and expecting the Wind Mover in Q4 2025, which contributes to increased operational capacity. New contracts signed in Q3 2025 include a €500 million deal for full-scope foundation T&I and WTG installation.
Nov 20, 2025, 1:00 PM
Cadeler Reports Strong Q3 2025 Financials and Record Backlog
CDLR
Earnings
Guidance Update
New Projects/Investments
- Cadeler reported strong Q3 2025 financial results, with revenue of EUR 154.3 million and EBITDA of EUR 109.1 million, reflecting 92.2% utilization and the operation of three additional vessels.
- The company's backlog reached a record high of almost EUR 2.9 billion, with 78% having achieved Final Investment Decision (FID), providing significant earnings visibility, including over EUR 700 million in the next 12 months.
- Operationally, Cadeler delivered three of four new builds scheduled for 2025 and signed three full scope foundation TNI contracts and two turbine installation TNI contracts in Q3 2025.
- Management maintains its 2025 outlook and anticipates a strong near-term market, followed by a slightly weaker period in the second half of 2027 and 2028 due to increased competition, before a pickup in demand from 2029 onwards with an expected vessel undersupply towards the end of the decade.
Nov 20, 2025, 1:00 PM
Cadeler Reports Strong Q3 2025 Financial Performance and Record Backlog
CDLR
Earnings
Guidance Update
New Projects/Investments
- Cadeler reported strong Q3 2025 financial results, including revenue of EUR 154.3 million and EBITDA of EUR 109.1 million, driven by 92.2% utilization.
- The company's backlog reached a record high of almost EUR 2.9 billion, with 78% having achieved Final Investment Decision (FID).
- Operationally, Cadeler delivered three of its four new builds scheduled for 2025, with the Wind Mover on track for Q4 2025 delivery, and the Wind Ally delivered seven weeks ahead of schedule.
- Management maintained its 2025 outlook and anticipates strong market momentum for the "inner years" (2026, 2027) and "outer years" (2029, 2030, 2031), but expects weaker momentum and increased competition in the "middle years" of late 2027 and 2028.
- Cadeler projects a vessel undersupply towards the end of the decade and into the next, specifically for foundation installation in 2029 and VTG vessels from 2030.
Nov 20, 2025, 1:00 PM
Cadeler Reports Strong Q3 2025 Financials and Record Backlog
CDLR
Earnings
Guidance Update
New Projects/Investments
- Cadeler reported strong financial performance for Q3 2025, with revenue of EUR 154.3 million and EBITDA of EUR 109.1 million. The company achieved a high utilization rate of 92.2% and maintained an equity ratio of 47.3%.
- The company's backlog reached a record high of almost EUR 2.9 billion, with 78% of it having reached Final Investment Decision (FID).
- Cadeler has delivered three of its four new builds scheduled for 2025, with the remaining new build, the Wind Mover, on track for delivery within the next couple of weeks. The Wind Ally was delivered seven weeks ahead of schedule.
- The outlook for 2025 has been maintained. While 2027 and 2028 are expected to see slightly more competition and lower fleet utilization, an undersupply of capable vessels is anticipated for foundations in 2029 and VTG vessels from 2030.
Nov 20, 2025, 1:00 PM
Cadeler Reports Strong Q3 2025 Performance and Reaffirms Full-Year Guidance
CDLR
Earnings
Guidance Update
New Projects/Investments
- Cadeler reported strong financial performance for the first nine months of 2025, with revenue increasing 178% to EUR 453 million and EBITDA reaching EUR 322 million.
- The company's fleet expanded from five to nine vessels in the first nine months of 2025, achieving a combined utilisation rate of 75.8%.
- Cadeler's total order backlog grew to EUR 2,887 million as of November 20, 2025, bolstered by new contracts including a EUR 500 million project for foundation and WTG installation.
- The company reaffirmed its full-year 2025 guidance, expecting revenue between EUR 588\u2013628 million and EBITDA between EUR 381\u2013421 million.
Nov 20, 2025, 11:02 AM
Cadeler A/S Reports Strong Q3 2025 Financial Performance and Reaffirms Full-Year Guidance
CDLR
Earnings
Guidance Update
New Projects/Investments
- For the first nine months of 2025, Cadeler A/S reported revenue of EUR 453 million, a significant increase from EUR 163 million in the comparable period of 2024, and EBITDA of EUR 322 million, up from EUR 70 million in 9M 2024.
- The company's profit for the period reached EUR 232 million (EUR 0.66 EPS) in 9M 2025, compared to EUR 28 million (EUR 0.08 EPS) in 9M 2024, driven by termination fees, fleet expansion, and an increased vessel utilization rate of 75.8%.
- Cadeler reaffirmed its full-year 2025 guidance, expecting revenue to range between EUR 588 and 628 million and EBITDA between EUR 381 and 421 million.
- The order backlog as of 20 November 2025 amounted to EUR 2,887 million, including a firm contract with Vestas worth approximately EUR 210 million and an estimated EUR 500 million contract with an undisclosed client.
- Total assets increased by 58% to EUR 3,056 million as of 30 September 2025, primarily due to the newbuild program and vessel acquisitions.
Nov 20, 2025, 11:00 AM
Cadeler takes delivery of first A-class vessel and expands strategic role in offshore foundations
CDLR
New Projects/Investments
Product Launch
- Cadeler A/S announced the delivery of its first A-class vessel, Wind Ally, on September 25, 2025, which was completed on budget and ahead of schedule.
- The Wind Ally will be immediately deployed to Ørsted’s Hornsea 3 offshore wind farm and represents a strategic expansion for Cadeler, enabling the company to undertake the entire transport and installation (T&I) scope for offshore monopile foundations.
- This vessel is the first of three A-class newbuilds, with the fleet expected to reach 12 vessels by mid-2027, positioning Cadeler with the largest and most versatile fleet in the offshore wind industry.
Sep 25, 2025, 10:04 AM
Quarterly earnings call transcripts for Cadeler.
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