{"id":965020,"date":"2026-05-20T03:01:07","date_gmt":"2026-05-20T07:01:07","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/q1-2026-earnings-release-cadeler-reports-strong-q1-performance-driven-by-fleet-expansion-and-operational-activity-in-line-with-expectations\/"},"modified":"2026-05-20T03:01:07","modified_gmt":"2026-05-20T07:01:07","slug":"q1-2026-earnings-release-cadeler-reports-strong-q1-performance-driven-by-fleet-expansion-and-operational-activity-in-line-with-expectations","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/q1-2026-earnings-release-cadeler-reports-strong-q1-performance-driven-by-fleet-expansion-and-operational-activity-in-line-with-expectations\/","title":{"rendered":"Q1 2026 Earnings Release: Cadeler Reports Strong Q1 Performance Driven by Fleet Expansion and Operational Activity in Line With Expectations"},"content":{"rendered":"

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Q1 2026 Earnings Release: Cadeler Reports Strong Q1 Performance Driven by Fleet Expansion and Operational Activity in Line With Expectations<\/b><\/p>\n

COPENHAGEN, Denmark–(BUSINESS WIRE<\/a>)–Today, Cadeler (Cadeler A\/S and, together with its subsidiaries, the \u201cGroup\u201d) announced its financial results for the first quarter of 2026.<\/b><\/p>\n

\nCadeler reported revenue of EUR 125 million in Q1 2026, compared to EUR 65 million in the same period last year, driven primarily by increased contracted activity following the expansion of Cadeler\u2019s operating fleet. EBITDA increased to EUR 47 million from EUR 24 million in Q1 2025.<\/p>\n

\nDuring the quarter, Cadeler\u2019s fleet of ten operating vessels achieved a combined utilisation rate of 47.6%, compared to 55.3% in the same period in 2025, reflecting transit periods for Wind Ally and Wind Mover, the completion of Wind Keeper\u2019s upgrade scope and scheduled dry-docking for maintenance of Wind Orca.<\/p>\n

\nCadeler maintains its full-year 2026 guidance, reiterating expected full-year revenue in the range of EUR 854 million to EUR 944 million and EBITDA in the range of EUR 420 million to EUR 510 million.<\/p>\n

\nMikkel Gleerup, CEO of Cadeler, comments: \u201cThe first quarter of 2026 reflects the continued scaling of our business following the expansion of our operating fleet over the past year. While the integration of new capacity naturally impacts utilisation in the short term, we are seeing strong underlying operational activity across the fleet. At the same time, we continue to strengthen our financial platform and invest in the next phase of Cadeler\u2019s growth \u2013 positioning Cadeler to support the increasing global demand for offshore wind installation capacity.\u201d<\/p>\n

Fleet expansion and long-term investment<\/b><\/p>\n

\nCadeler continued to strengthen its long-term fleet strategy during the quarter. In March 2026, the company successfully completed a private placement raising approximately EUR 175 million before transaction costs.<\/p>\n

\nThe net proceeds are intended to partly finance two new T-class wind installation vessel newbuilds scheduled for delivery in 2030 and 2031, as well as the acquisition of a vessel to support future scour protection activities. The investment reflects Cadeler\u2019s continued focus on expanding its capabilities across the offshore wind installation value chain while supporting future demand for larger and increasingly complex offshore wind projects.<\/p>\n

Expanding presence in offshore wind operations and maintenance<\/b><\/p>\n

\nCadeler continued to strengthen its presence within offshore wind operations and maintenance activities through Nexra, the company\u2019s dedicated offshore wind aftermarket service platform.<\/p>\n

\nDuring the first quarter, Cadeler secured several new operations and maintenance projects across key offshore wind markets, supporting continued utilisation across the fleet and strengthening long-term client relationships.<\/p>\n

\nThe offshore wind aftermarket remains a growing area of strategic focus for Cadeler as the global installed base of offshore wind turbines continues to expand.<\/p>\n

Strong commercial visibility<\/b><\/p>\n

\nCadeler\u2019s order backlog remained robust at EUR 2,705 million at the end of the quarter, 82% of which relates to projects where clients have already taken final investment decisions.<\/p>\n

\nDuring the quarter, Cadeler vessels continued operations across offshore wind projects in Europe, Asia-Pacific and North America, while additional newly delivered capacity continued to be integrated into the operating fleet.<\/p>\n

Key highlights for Q1 2026<\/b><\/p>\n