Cadeler has published its 2024 annual report, marking a year of transformation, growth, and fleet expansion, alongside progress in integrating Eneti following their 2023 merger.
The company more than doubled its revenue in 2024, reaching € 249 million—an increase of € 140 million from € 109 million in 2023. This growth was driven by strong demand for Cadeler’s services, the integration of Eneti, which added Wind Scylla and Wind Zaratan to the fleet, and successful project execution across its vessels. Wind Peak also began operations in the fourth quarter of 2024 immediately upon arrival in Europe following its delivery.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose to € 126 million, an increase of € 84 million from € 42 million in 2023.
Cadeler’s order backlog now stands at € 2.5 billion, including all contractual options, up from approximately € 1.7 billion at the end of 2023. The company expects revenue in 2025 to range between € 485 million and € 525 million, with EBITDA projected between € 278 million and € 318 million.
