Cadeler A/S

CADLR

Equity

ISIN DK0061412772 / Valor 58374355

Oslo Stock Exchange (2024-12-23)

NOK 64.20+0.94%

Cadeler A/S
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

Cadeler A/S is a Danish company specializing in offshore wind turbine installation and maintenance services. The company operates a fleet of advanced wind installation vessels, including the Wind Osprey and Wind Orca, which are utilized for the transportation and installation of large-scale wind turbine generators (WTGs). Cadeler has been involved in numerous significant projects across Europe, such as the installation of 42 Siemens Gamesa offshore wind turbines for the Hollandse Kust Noord project in the Netherlands and the transportation and installation of 90 Vestas WTGs for the Triton Knoll wind farm in the UK. The company has a track record of completing complex offshore installations within agreed timeframes, often under challenging conditions, and has contributed to the development of several major wind farms, including those in the Irish Sea, the North Sea, and off the Scottish coast.

Summarized from source with an LLMView SourceSector: Non-Energy Materials

Guidance

For the first quarter of 2024, Cadeler A/S has maintained its financial guidance for the year. The company expects revenue to be in the range of EUR 225 million to EUR 245 million and anticipates EBITDA to be between EUR 105 million and EUR 125 million. This outlook reflects Cadeler's strategic initiatives and ongoing projects aimed at expanding its capabilities in the offshore wind sector.

Backlog

As of the end of the first quarter of 2024, Cadeler A/S reported a robust order backlog, demonstrating strong and increasing demand in the offshore wind industry. Notable contracts include a recent agreement with Ørsted and PGE Polska Grupa Energetyczna for the installation of 14MW wind turbines, highlighting Cadeler's pivotal role in major renewable energy projects.

Result and Utilization

Cadeler A/S experienced a challenging first quarter in 2024, posting a loss of EUR 21 million. This was primarily due to lower vessel utilization, which stood at 17% compared to 75% in the same period last year. The decrease was largely due to scheduled maintenance and upgrades, impacting the company's short-term financial performance.

Revenue

The revenue for Cadeler A/S in the first quarter of 2024 was reported at EUR 19 million, consistent with the revenue generated in the same period the previous year. This stability in revenue underscores the company's resilient business model and ongoing efforts to optimize operations amidst varying market conditions.

Private Placement

In February 2024, Cadeler A/S successfully completed a private placement, raising EUR 155 million through the issuance of 39.5 million shares. This capital increase is intended to support Cadeler's strategic growth initiatives, including the expansion of its fleet and enhancement of its technological capabilities in the offshore wind sector.

Summarized from source with an LLMView Source

Key figures

36.9%1Y

81.4%3Y

%5Y

Performance

30.7%1Y

32.4%3Y

36.2%5Y

Volatility