Cadeler has reported a sharp rise in revenue and profit for 2025 while doubling its offshore wind vessel fleet to ten units.
The company said revenue reached €620 million, up from €249 million in 2024, driven by fleet expansion, high utilisation and strong operational activity.
Cadeler added that EBITDA increased to €425 million from €126 million, while net profit rose to €280 million from €65 million.
The company took delivery of five vessels during the year, expanding its fleet from five to ten units and contracting all newbuilds for deployment immediately after delivery.
Cadeler established Nexra in 2025 as a dedicated service platform for offshore wind operations and maintenance.
The company reported an order backlog of €2.8 billion as of 24 March 2026, compared to approximately €2.3 billion at the end of 2024.
“2025 was a defining year for Cadeler.
“We doubled the size of our fleet on the water while maintaining strong utilisation and delivering substantial growth in both revenue and profitability,” said Mikkel Gleerup, chief executive of Cadeler.
“At the same time, we expanded our strategic capabilities across the offshore wind value chain, including by strengthening our presence in the growing operations and maintenance segment.”
Cadeler expects revenue of between €845 million and €944 million in 2026, with EBITDA forecast in the range of €420 million to €510 million.