Strong Financial Performance
Cadeler achieved strong financial performance in 2024, with revenue doubling from the previous year and EBITDA tripling to EUR126 million.
Successful Vessel Deliveries
Cadeler delivered Wind Peak and the first M-class vessel on time and on budget, contributing to 50% of 2025 deliveries completed.
Backlog Growth
The company's backlog increased to EUR2.5 billion, a 47% growth since the previous year, with 94% of the backlog having final investment decisions.
Operational Achievements
Cadeler successfully installed 60 Siemens 14.7 MW turbines on the Moray West project, marking the first installation of this next-generation turbine platform.
Refinancing and Financial Strength
The company refinanced the M-Class facility on improved terms, increased capacity on the unsecured HoldCo facility, and extended revolving credit capacity.
Strong Market Position
Cadeler is positioned as a leading pure play T&I company, with a strong focus on the European market and growing presence in Asia and North America.