Skip to main content
Grafa
Energy
Cadeler delivers EUR 408 million in revenue
Image for illustrative purposes only. Not a real photo.

Cadeler delivers EUR 408 million in revenue

Share
  • Cadeler (NYSE:CDLR) reported first-half 2026 revenue of EUR 408 million, more than doubling from EUR 188 million after adjusting for prior-year termination fees.
  • The company reported EBITDA of EUR 208 million and profit of EUR 88 million for the period.
  • Cadeler maintained its 2026 guidance as it reviews the impact of its Menck acquisition completed in August 2026.

Cadeler (NYSE:CDLR) reported first-half 2026 revenue of EUR 408 million, an increase of EUR 220 million from the adjusted prior-year period, as the offshore wind installation company expanded fleet activity and contracted days.

The company’s revenue growth compared with first-half 2025, when revenue was EUR 188 million after adjusting for one-off termination fees of EUR 111 million, while EBITDA increased to EUR 208 million from an adjusted EUR 102 million.

“ These results demonstrate that our fleet strategy is delivering as intended, providing the flexibility, reliability and operational capabilities required to support the next phase of offshore wind development as customers place increasing emphasis on the resilience of their supply chains and certainty of delivery,” said Cadeler CEO Mikkel Gleerup.

Cadeler reported that profit for the period reached EUR 88 million, up EUR 31 million or 54% from adjusted profit of EUR 57 million, while fleet utilisation remained at 66% compared with 67% in the same period last year.

Cadeler maintained its full-year 2026 guidance for revenue of EUR 854 million to EUR 944 million and EBITDA of EUR 420 million to EUR 510 million, while the company stated that it is reviewing the impact of its Menck acquisition on those estimates.

Cadeler operates a fleet of offshore wind installation vessels and has focused on expanding its capacity as offshore wind projects increase in scale and complexity.

The company’s recent strategy has included fleet expansion, project portfolio growth, and the acquisition of Menck on 11 August 2026 to support its offshore wind installation operations.

Frequently asked questions