Cadeler Reports Doubled Q1 Revenue & EBITDA, Maintains Strong 2026 Guidance

summarizeSummary

Cadeler A reported strong financial results for Q1 2026, with revenue and EBITDA more than doubling year-over-year, while reiterating its full-year 2026 guidance.

check_boxKey Events

• Strong Q1 Financial Performance

  Revenue increased to EUR 125 million (up from EUR 65 million in Q1 2025) and EBITDA rose to EUR 47 million (from EUR 24 million in Q1 2025), both more than doubling year-over-year.

• Maintained Full-Year Guidance

  Cadeler reiterated its full-year 2026 revenue guidance of EUR 854 million to EUR 944 million and EBITDA guidance of EUR 420 million to EUR 510 million.

• Robust Order Backlog

  The company's order backlog remained strong at EUR 2,705 million as of March 31, 2026, with 82% related to projects with final investment decisions.

• Fleet Expansion and Strategic Investments

  The company highlighted the successful completion of a EUR 175 million private placement in March 2026 to fund new T-class vessels and a vessel for scour protection, reinforcing its long-term fleet strategy.

auto_awesomeAnalysis

Cadeler's Q1 2026 performance demonstrates significant growth, with revenue and EBITDA more than doubling year-over-year, driven by fleet expansion and increased operational activity. Despite a temporary dip in fleet utilization due to vessel transits and maintenance, the robust order backlog and maintained full-year guidance underscore continued positive momentum in the offshore wind installation market.