Cadeler has maintained its revenue and EBITDA forecasts for 2024, expecting revenue between EUR 225 million and EUR 245 million and EBITDA between EUR 105 million and EUR 125 million.
The company is well-positioned in the offshore wind industry, with an order book now at EUR 1,925 million, up EUR 566 million since June 2023. Most of these projects have secured positive final investment decisions.
For the first half of 2024, Cadeler reported a modest profit of EUR 153,000, down significantly from the EUR 30 million profit in the same period of 2023. This decline is due to lower vessel utilisation, with three out of four vessels undergoing maintenance, and increased costs.
The Group’s revenue for the first half of 2024 was EUR 82 million, an increase of EUR 14 million from the previous year. With most vessels expected to be in use for the rest of the year, this aligns with the projected annual revenue.
EBITDA in the first half of 2024 was EUR 22 million, down from EUR 42 million in the same period of 2023. This decrease was influenced by reduced vessel activity and increased costs.
The Wind Peak, Cadeler’s newest vessel, joined the fleet in August 2024 and has already secured contracts. Cadeler is optimistic about the offshore wind sector, expecting continued growth driven by favourable policies and global climate goals, particularly in Europe. Despite economic uncertainties, Cadeler anticipates its 2024 outlook will remain stable.
