New Risk • 13h
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.1% per year for the foreseeable future. Minor Risk High level of debt (97% net debt to equity). Ankündigung • Mar 24
Cadeler A/S Provides Earnings Guidance for 2026 Cadeler A/S provided earnings guidance for 2026. For 2026, the company expected revenue in the range of EUR 845 million to EUR 944 million. Ankündigung • Dec 16
Cadeler A/S, Annual General Meeting, Apr 21, 2026 Cadeler A/S, Annual General Meeting, Apr 21, 2026. Ankündigung • Nov 21
Cadeler A/S Reaffirms Earnings Guidance for Full Year 2025 Cadeler A/S reaffirmed earnings guidance for full year 2025. For the year, the company expects revenue to be in the range of EUR 588 million – EUR 628 million. Ankündigung • Aug 26
Cadeler A/S Reaffirms Earnings Guidance for the Full Year 2025 Cadeler A/S reaffirmed earnings guidance for the full year 2025. The company reaffirmed that guidance, with full-year revenue expected to range between EUR 588 and 628 million. Ankündigung • Jul 02
Cadeler A/S Revises Earnings Guidance for the Financial Year Ending December 31, 2025 Cadeler A/S revised earnings guidance for the Financial Year Ending December 31, 2025. For the year, the company revenue now expected to be within the range of EUR 588 million and EUR 628 million (previously expected to be within the range of EUR 485 million and EUR 525 million). Ankündigung • Mar 25
Cadeler A/S Provides Earnings Guidance for the Year 2025 Cadeler A/S provided earnings guidance for the year 2025. The company expects its 2025 financial performance to result in revenue in the range of EUR 485 million to EUR 525 million. Board Change • Dec 30
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Thomas Andersen was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Nov 26
Cadeler A/S Raises Earnings Guidance for the Financial Year Ending 31 December 2024 Cadeler A/S raised earnings guidance for the financial year ending 31 December 2024. In the Group’s Annual Report 2023, Cadeler provided guidance for the financial year ending 31 December 2024 indicating that full-year revenue was expected to fall within the range of EUR 225 million to EUR 245 million, while full-year EBITDA was expected to be between EUR 105 million and EUR 125 million. Cadeler has on November 26, 2024 increased its revenue guidance for the financial year 2024, as it now expects full-year revenue to fall within the range of EUR 243 million to EUR 253 million, principally due to clients calling more options under the Group’s existing contracts than was previously assumed, higher vessel utilisation as a result of the Group having secured contracts for the provision of operations and maintenance services between installation projects, and the receipt of termination fees in respect of a vessel reservation agreement. Reported Earnings • Aug 28
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €63.2m (up 29% from 2Q 2023). Net income: €20.9m (down 24% from 2Q 2023). Profit margin: 33% (down from 57% in 2Q 2023). Revenue is forecast to grow 50% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Ankündigung • Jun 08
Institutional investors acquired 3.50% stake in Cadeler A/S (OB:CADLR) from Swire Pacific Limited (SEHK:19) for NOK 790 million. Institutional investors acquired 3.50% stake in Cadeler A/S (OB:CADLR) from Swire Pacific Limited (SEHK:19) for NOK 790 million on June 6, 2024. As part of acquisition, 12,353,125 shares were sold. After transaction, Swire Pacific holds 17,510,330 shares, corresponding to 4.99% stake in Cadeler.Institutional investors completed the acquisition of 3.50% stake in Cadeler A/S (OB:CADLR) from Swire Pacific Limited (SEHK:19) on June 6, 2024. Ankündigung • May 29
Cadeler A/S Provides Earnings Guidance for the Year 2024 Cadeler A/S provided earnings guidance for the year 2024. For the year, the company revenue remains unchanged for 2024: revenue is expected to range between EUR 225 million and EUR 245 million. Reported Earnings • May 29
First quarter 2024 earnings released: €0.06 loss per share (vs €0.075 profit in 1Q 2023) First quarter 2024 results: €0.06 loss per share (down from €0.075 profit in 1Q 2023). Revenue: €19.1m (down 44% from 1Q 2023). Net loss: €20.8m (down 240% from profit in 1Q 2023). Revenue is forecast to grow 47% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (78% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (11% net profit margin). Reported Earnings • Mar 26
Full year 2023 earnings released: EPS: €0.06 (vs €0.22 in FY 2022) Full year 2023 results: EPS: €0.06 (down from €0.22 in FY 2022). Revenue: €108.6m (up 2.1% from FY 2022). Net income: €11.5m (down 68% from FY 2022). Profit margin: 11% (down from 33% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Ankündigung • Mar 02
Cadeler Appoints Alexander Simmonds as Chief Legal Officer and Executive Vice President Cadeler announces the appointment of Alexander Simmonds as its Chief Legal Officer and Executive Vice President, adding him as the newest member of Cadeler’s Executive Leadership Team. Alexander is poised to put his extensive M&A and public capital markets experience into play to accelerate the next stage of Cadeler’s ambitious growth journey and its realization of strategic opportunities within the offshore wind industry. Alexander will be responsible for Cadeler’s global legal, compliance, corporate affairs, and investor relations functions, dedicating his focus to enabling the next stage of Cadeler’s growth strategy. He will report directly to Mikkel Gleerup, Chief Executive Officer of Cadeler. Cadeler aims to strengthen its position and presence in the offshore wind farm installation markets globally and to establish itself as a leading provider of marine transport, installation, and maintenance services to the offshore wind industry globally. The addition of Alexander to Cadeler’s Executive Leadership Team comes as Cadeler seeks to take continued advantage of market opportunities within the offshore wind industry following the successful completion of its business combination with Eneti Inc. and listing on the New York Stock Exchange. Alexander joins Cadeler from Davis Polk & Wardwell LLP, where he served as counsel and practiced in both the New York and London offices of the firm. He brings broad experience in advising on significant M&A matters, including public and private mergers, acquisitions, joint ventures, minority investments, and other strategic corporate transactions, as well as on equity and debt capital markets transactions. holds a bachelor’s degree from Columbia University and a Juris Doctor degree from Harvard Law School. Ankündigung • Feb 21
Cadeler A/S Announces Board Appointments Cadeler A/S announced the appointment of Emanuele Lauro was elected as member and Vice Chairman of the Board of Directors. James Nish was elected as member of the Board of Directors. New Risk • Dec 20
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 58% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (27% accrual ratio). Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €3.64, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 11x in the Construction industry in Europe. Total returns to shareholders of 61% over the past three years. Reported Earnings • Sep 03
First half 2023 earnings released: EPS: €0.15 (vs €0.067 in 1H 2022) First half 2023 results: EPS: €0.15 (up from €0.067 in 1H 2022). Revenue: €67.8m (up 57% from 1H 2022). Net income: €29.6m (up 203% from 1H 2022). Profit margin: 44% (up from 23% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 42% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Construction industry in Germany. Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: €0.22 (vs €0.057 in FY 2021) Full year 2022 results: EPS: €0.22 (up from €0.057 in FY 2021). Revenue: €106.4m (up 75% from FY 2021). Net income: €35.5m (up 377% from FY 2021). Profit margin: 33% (up from 12% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Construction industry in Europe. Ankündigung • Nov 18
Cadeler A/S Revises Earnings Guidance for the Year 2022 Cadeler A/S revised earnings guidance for the year 2022. The company has updated its financial outlook for the full year 2022 revenue to range between EUR 100 million to EUR 110 million. This new outlook replaces the previous outlook for the full year 2022, which was restated in the company’s interim financial report for the period 1 January to 30 June 2022, and where the company in its guidance for the full year 2022 expected the revenue to be between EUR 96 million to EUR 106 million. Board Change • Nov 16
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Director Connie Hedegaard is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Ankündigung • Nov 04
J. Lauritzen A/S acquired unknown minority stake in Cadeler A/S (OB:CADLR). J. Lauritzen A/S acquired unknown minority stake in Cadeler A/S (OB:CADLR) on November 2, 2022.J. Lauritzen A/S completed the acquisition of unknown minority stake in Cadeler A/S (OB:CADLR) on November 2, 2022. Reported Earnings • Aug 24
First half 2022 earnings released: EPS: €0.07 (vs €0.04 in 1H 2021) First half 2022 results: EPS: €0.07 (up from €0.04 in 1H 2021). Revenue: €43.0m (up 33% from 1H 2021). Net income: €9.78m (up 99% from 1H 2021). Profit margin: 23% (up from 15% in 1H 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 36%, compared to a 5.0% growth forecast for the Construction industry in Germany. Ankündigung • Aug 24
Cadeler A/S Provides Group Revenue Guidance for the Year 2022 Cadeler A/S provided group revenue guidance for the year 2022. For the year, the company expects revenue would be between EUR 96 million to EUR 110 million. Ankündigung • May 05
Cadeler A/S has completed a Follow-on Equity Offering in the amount of NOK 845.993194 million. Cadeler A/S has completed a Follow-on Equity Offering in the amount of NOK 845.993194 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 26,175,532
Price\Range: NOK 32.32
Transaction Features: Regulation S; Subsequent Direct Listing Board Change • Apr 27
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Director Connie Hedegaard is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Ankündigung • Apr 01
Cadeler A/S Appoints Peter Brogaard Hansen as CFO, Effective as of 1 June 2022 The Board of Directors of Cadeler A/S announced that it has appointed Peter Brogaard Hansen as its next Chief Financial Officer of the Company with effect as of 1 June 2022. Peter Brogaard Hansen is currently Vice President, Group Finance at the product tanker shipping company TORM. To find the best possible CFO candidate, the Company's Board of Directors has concluded a recruitment process with a successful outcome. The appointment of Peter Brogaard Hansen as the Company's new CFO follows the end of the secondment of the Company's current CFO Mark Konrad from John Swire & Sons (H.K.) Ltd. ("John Swire & Sons") to the Company, which was established in connection with Cadeler's IPO in November 2020, as also previously informed in the Company's Annual Reports and Remuneration Reports. In the interim period, the Company's Board of Directors has appointed Mario Robayo as the Company's interim CFO. Mario Robayo is currently Head of Finance at Cadeler. Ankündigung • Mar 31
Cadeler A/S Provides Group Revenue Guidance for the Year 2022 Cadeler A/S provided group revenue guidance for the year 2022. Due to the current contract coverage, the financial performance of the Group for 2022 is expected to result in a revenue of between EUR 96 million to EUR 110 million, compared with revenue of EUR 61 million in 2021. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: €0.06 (vs €1.04 loss in FY 2020) Full year 2021 results: EPS: €0.06 (up from €1.04 loss in FY 2020). Revenue: €60.9m (up 213% from FY 2020). Net income: €7.45m (up €34.5m from FY 2020). Profit margin: 12% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 86%, compared to a 5.5% growth forecast for the industry in Germany. Buying Opportunity • Feb 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be €3.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 108% over the last year. Earnings per share has grown by 100% over the last year. Board Change • Jan 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Director Connie Hedegaard is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Dec 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Director Connie Hedegaard is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Executive Departure • Nov 30
Director Roy Shearer has left the company On the 26th of November, Roy Shearer's tenure as Director ended. We don't have any record of a personal shareholding under Roy's name. Roy is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.33 years. Reported Earnings • Aug 26
First half 2021 earnings released: EPS €0.04 (vs €25.97 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €32.3m (up 253% from 1H 2020). Net income: €4.93m (up €25.2m from 1H 2020). Profit margin: 15% (up from net loss in 1H 2020). Ankündigung • Apr 08
Cadeler A/S Provides Revenue Guidance for 2021 Cadeler A/S provided revenue guidance for 2021. For the period, the company expects significantly increased revenue in the range of EUR 56 million-EUR 63 million. Reported Earnings • Apr 08
Full year 2020 earnings released: €1.04 loss per share (vs €35.00 loss in FY 2019) The company reported a poor full year result with weaker revenues, weaker control over costs and no improvement to losses. Full year 2020 results: Revenue: €19.5m (down 44% from FY 2019). Net loss: €27.0m (flat on FY 2019). Ankündigung • Mar 19
Cadeler A/S to Report First Half, 2021 Results on Aug 24, 2021 Cadeler A/S announced that they will report first half, 2021 results on Aug 24, 2021 Ankündigung • Mar 12
Cadeler A/S Announces Singing of Contract Cadeler A/S announced signing of the larger contract in the history of the Company. Siemens Gamesa has awarded Cadeler a contract of approximately 90m USD, with an additional 30m USD in options, to transport and install turbines of the SG 14-222 DD model. The turbines are expected to be the larger wind turbines in the world at the time of installation and have an individual capacity of 14 MW. Each turbine will, over its 25-year lifetime, avoid approximately 1.4m tons of CO2 emissions compared to electricity produced by the burning of coal. Is New 90 Day High Low • Mar 10
New 90-day high: €3.42 The company is up 55% from its price of €2.21 on 10 December 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 2.0% over the same period. 
