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NYSE · DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT · LARGE CAP

Cadeler A/S CDLR

5 fiscal years on record · EUR · FY2025 reported · SEC filings only
€620.4M
▲ 149.4% YoY
€280.2M
▲ 330.6% YoY
€-841.5M
In brief

What this company does

The Cadeler Group, headquartered in Copenhagen, Denmark, operates 10 offshore jack-up wind installation vessels, with two new builds on order. It operates within the market for the transportation and installation of offshore WTGs and their foundations, and its vessels can also perform maintenance, decommissioning and other general construction tasks within the offshore industry. Its fleet comprises one A-Class Vessel (Wind Ally), two P-Class Vessels (Wind Peak and Wind Pace), two M-Class Vessels (Wind Maker and Wind Mover), two O-Class Vessels (Wind Orca and Wind Osprey), Wind Keeper, Wind Scylla and Wind Zaratan. Its customer base consists of offshore wind farm developers, original equipment manufacturers and various offshore contractors. Its vessels are all viewed as operating within one segment, and the Cadeler Group has only one operating segment. As of December 31, 2025, the Cadeler Group had completed approximately 40 offshore projects since 2012. In the years ended December 31, 2025, 2024 and 2023, it worked on projects in the United Kingdom, the United States, Germany, Poland, Taiwan, France and the Netherlands.

Written from the business description in Cadeler A/S's annual report to the U.S. Securities and Exchange Commission, filed 24 March 2026. Every sentence was checked against that document before publication.

Growth
EUR 620.4M
Revenue, FY2025 · full 5-year series below
Revenue €M Net income €M
FY2025 · Revenue 620.4 · Net income 280.2
250.0M500.0M20212022202320242025
Compound annual growth
+80.0%
+99.0%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
45 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 51.2% · Net 45.2%
20%40%20212022202320242025
ROE
FY2025 · ROE 20.5%
10%20%20212022202320242025

Each EUR of equity produced 20 cents of profit this year.

Cash & shareholders
EUR 1.7M
returned in FY2025 · dividends + net buybacks
Free cash flow €M
FY2025 · FCF -841.5
-400M-800M20212022202320242025
Net buybacks €M Dividends €M
FY2025 · Dividends — · Net buybacks 1.7
0.8M1.6M202320242025

EUR 1.7M in buybacks — 1% of the year's profit went back to shareholders.

Total assetsEUR 3.4B
EquityEUR 1.5B
CashEUR 151.7M
Gross debtEUR 1.7B
Net debtEUR 1.5B
Current ratio1.11×

Net debt stands at 103% of equity.

The 5-year record
5 fiscal years
Every figure from documents filed with the SEC · EUR

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021
Revenue €B0.60.20.10.10.1
Operating income €B0.30.10.00.00.0
EBITDA €B0.30.10.00.00.0
Income tax €B0.00.00.0·−0.0
Net income €B0.30.10.00.00.0
Free cash flow €B−0.8−0.5−0.0−0.2−0.1
EPS, diluted0.790.190.060.220.06
Dividend / sh·····
Payout %·····
ROE %20.55.91.58.22.3
Shares out B0.35·0.310.20·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 25 reconciliationsAUDITED

Reconciled in 5 of 19 fiscal years. 70 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityDeep Sea Foreign Transportation of Freight
Listed onNYSE
Incorporated inoutside the United States — SEC code G7
Fiscal year endsDecember 31
Data on record since2021

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