Cadeler H1 Financial Performance and Outlook
Denmark‑based offshore wind installer Cadeler announced that its first‑half 2026 revenue reached €408 million, more than doubling the figure recorded in the same period a year earlier. The company attributed the revenue surge to a significant expansion of its vessel fleet and a higher number of contracted installation days.
Net income for the half‑year increased 54% year‑over‑year to €88 million, reflecting the same operational improvements that boosted revenue. Cadeler’s order backlog was reported at nearly €2.5 billion as of August 2026, indicating a strong pipeline of future projects.
During the period the firm operated its fleet at a larger scale, providing greater flexibility and redundancy to mitigate operational risks and adapt to changing project requirements. Investment activities included the completion of a private placement and the ordering of new vessels, alongside enhancements to its foundation transport and installation capabilities.
Cadeler reaffirmed its full‑year 2026 revenue guidance of €854 million to €944 million and its EBITDA target of €420 million to €510 million. The company is currently reviewing the impact of its recent acquisition of Menck on these guidance figures, with an update to be provided in due course.
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