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Cadeler has published the annual report for 2020. The annual revenue totalled EUR 20 million and with a EUR 310 million order backlog, the company expects a 2021 revenue increase to EUR 56-63 million.
 
2020 was a transitional year for Cadeler with a rebranding and name change ahead of the IPO. The IPO raised NOK 883 million to fund the announced new built installation vessel. In June 2020, Cadeler completed the installation of a new crane boom, with a 132-meter hook height above deck, on the vessel Wind Osprey. Additionally, just before the end of 2020, the company announced the opening of an office in Vejle, Denmark.
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