Cadeler A/S Earnings Recaps
Q3 2025
Nov 21, 2025
Cadeler delivered strong financial results in Q3 2025, achieving high vessel utilization and advancing its strategic initiatives with significant contract wins.
Key takeaways
- Revenue reached €154.3 million with a 92.2% vessel utilization rate, reflecting effective operational performance.
- The company signed three major contracts, including a large foundation project targeted for execution in 2029.
- Backlog increased to nearly €2.9 billion, with 78% of projects having reached a Final Investment Decision (FID).
- Cadeler successfully delivered three new vessels in 2025, with the Wind Mover expected to join the fleet in the coming weeks.
- The company maintains a strong position in key markets including the U.S., Europe, and Asia, supporting future growth ambitions.