Recent Updates — CDLR
Cadeler A/S revised its full-year financial guidance upwards for the period ending December 31, 2026. New revenue expectations are EUR 910 million to EUR 1,000 million, up from the previous range of EUR 854 million to EUR 944 million. Full-year EBITDA is now projected at EUR 435 million to EUR 525 million, excluding acquisition and integration costs for Menck, which was acquired on August 11, 2026. The updated revenue guidance includes an anticipated hammer sale scheduled for completion in December 2026. Cadeler A/S operates in the offshore wind energy sector, providing turbine transport, installation, and operations & maintenance services.
Cadeler Limited has publicly filed a registration statement on Form F-4 with the SEC in connection with the potential redomiciliation of its parent company from Denmark to the United Kingdom. The proposed transaction would involve a share-for-share exchange offer allowing shareholders to exchange shares in Cadeler A/S for shares in Cadeler plc, which will be renamed Cadeler Limited, on a 1:1 basis. No final decision has been made by the board of directors to proceed with the redomiciliation or launch the exchange offer. The company operates in the offshore wind energy sector, specializing in the transport and installation of wind turbines.
Cadeler A/S published its interim financial report for the first half of 2026 on August 25, 2026. The company reported revenue of EUR 408 million and EBITDA of EUR 208 million, with a net profit of EUR 87.9 million. This represents a decrease in net profit compared to the prior year period, which benefited from EUR 111 million in non-recurring termination fees. Cadeler completed a private placement in March 2026, raising approximately EUR 175 million to finance new T-class vessel orders and expansion into scour protection. Subsequent to the reporting period, the company acquired Menck, a specialist offshore foundation installation provider, and took delivery of its eleventh wind installation vessel, Wind Ace. The contract backlog stood at EUR 2.487 billion as of late August 2026. Cadeler A/S operates in the offshore wind industry, providing turbine transport and installation services.
Cadeler A/S released its H1 2026 investor presentation on August 25, 2026. The company reported more than doubling revenue to EUR 408m and EBITDA to EUR 208m year-over-year, adjusted for a prior period termination fee. Key developments include the acquisition of Menck, a specialist offshore foundation equipment provider, and the signing of firm contracts for two new T-class vessels with approximately EUR 805m in committed capital expenditure. The contract backlog stands at EUR 2.5 billion, supported by strong execution on projects like Hornsea 3 and East Anglia TWO. Cadeler A/S operates in the offshore wind sector, providing vessel-based installation, transportation, and operations & maintenance services.
Cadeler A/S reported H1 2026 interim financial results, with revenue more than doubling to EUR 408 million and EBITDA increasing to EUR 208 million compared to the prior year period adjusted for one-off termination fees. Profit rose to EUR 88 million, driven by fleet expansion and higher contracted days, while vessel utilization remained stable at 66%. The company maintains its full-year guidance of EUR 854-944 million in revenue and EUR 420-510 million in EBITDA, noting that the August acquisition of Menck will impact these figures. Cadeler also took delivery of its eleventh vessel, Wind Ace, and secured a nearly EUR 2.5 billion order backlog. Cadeler A/S is an offshore wind installation partner operating the industry’s largest fleet of jack-up vessels for turbine transport and installation.