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Cadeler has published its interim report for the first half of the year presenting a positive result in line with the guidance presented in the beginning of the year. The revenue for the period totalled € 43 million, showing an increase of 33% compared to the same period last year.
The EBITDA of the reported period is € 23 million, a € 7 million increase compared to H1 2021. Looking ahead, the guidance for the rest of the year has been narrowed due to upstream delays. Thus, the revenue is expected to range between € 96 to 106 million. EBITDA guidance has also been narrowed and is now expected to be within the range of € 56 to 65 million. The company’s fleet continues to be in high demand and the capacity is fully booked until 2026. The order backlog currently amounts to € 547 million.
Cadeler has completed a private placement of € 85 million with the intent to add one more newbuild vessel to its fleet. The amount has been used for down payment for the first new F-class vessel, which will be constructed by Cosco Heavy Industries, the same shipyard that is currently building Cadeler’s two X-class vessels. Construction of the three newbuilds is running according to plan and expect to be delivered during 2024-2025.
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