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Cadeler A/S filings document a foreign private issuer whose CDLR American depositary shares each represent four ordinary shares and whose ordinary shares trade on the Oslo Stock Exchange under CADLR. Its Form 6-K reports cover offshore wind installation and O&M activity, financial releases, annual meeting results, and corporate governance actions.
The filing record also documents share capital changes, private placement-related ownership notifications, treasury share authorizations, major-shareholding notices, and transactions in Cadeler shares by persons discharging managerial responsibilities or closely associated persons. These disclosures describe the capital structure, shareholder base, governance approvals, and recurring reporting practices of an offshore wind vessel contractor.
Cadeler A/S (CDLR) has raised its outlook for 2026, increasing both full-year revenue and EBITDA guidance to reflect management’s assessment of the impact of its acquisition of Menck from August 11, 2026 and other business developments. Full-year revenue is now expected to be within EUR 910 million to 1,000 million, up from the previous range of EUR 854 million to EUR 944 million, and this includes an anticipated hammer sale scheduled to complete in December 2026. Full-year EBITDA, excluding costs related to the acquisition and integration of Menck, is now expected to be within EUR 435 million to 525 million, compared with the prior range of EUR 420 million to EUR 510 million.
Cadeler A/S (CDLR) announced that Cadeler Limited, to be renamed Cadeler plc, has filed a Form F-4 registration statement with the SEC for a potential redomiciliation of the group’s parent company from Denmark to the United Kingdom. The contemplated structure is a share-for-share exchange offer in which holders of Cadeler A/S shares, including those represented by American Depositary Shares, may be offered to exchange on a 1:1 basis for ordinary shares of Cadeler plc, a company incorporated in England and Wales. The current board of directors and executive management of Cadeler A/S are expected to continue in the same roles at Cadeler plc if the transaction is completed. No final decision has been made to proceed with the redomiciliation or to launch the exchange offer, and the offer has not commenced; detailed terms would be set out in a final Form F-4, a Schedule TO, a Schedule 14D-9, and an EU/EEA prospectus and offer document, if the boards decide to move forward.
Cadeler A/S (CDLR) announced that Cadeler Limited, to be renamed Cadeler plc, has filed a registration statement on Form F-4 with the U.S. SEC in connection with a potential redomiciliation of the group’s parent company from Denmark to the United Kingdom. If pursued, this may be implemented via a share-for-share exchange offer in which shareholders could exchange each Cadeler A/S share (including those represented by American Depositary Shares) on a 1:1 basis for shares in Cadeler plc, an English company formed for this purpose. The current board and executive management of Cadeler A/S are expected to continue in the same roles at Cadeler plc following any completion. No final decision has yet been made to proceed or to launch the exchange offer; further details and a combined EU/EEA prospectus and offer document are expected only if such decisions are taken.
Cadeler A/S (CDLR) reports a change in a major shareholding. On August 25, 2026, Lexcor Master Fund’s combined holding of Cadeler shares and related financial instruments fell below the 5% threshold of total share capital and voting rights. Lexcor Master Fund now holds Cadeler shares corresponding to 3.50% of the total share capital and voting rights, and additional financial instruments corresponding to 1.42%. In total, Lexcor Master Fund’s exposure represents 4.92% of Cadeler’s share capital and voting rights. Lexcor Master Fund is ultimately controlled by Marble Bar Asset Management LLP.
Cadeler A/S (CDLR) reports strong operational and top-line growth for the first half of 2026 while absorbing the impact of prior-year one-offs and higher financing costs. Revenue rose to EUR 407.5 million from EUR 298.5 million, driven mainly by an expanded fleet (10 operating vessels vs. seven in 2025) and more contracted days (1,198 vs. 770). EBITDA was broadly stable at EUR 207.6 million versus EUR 212.5 million, reflecting higher operating costs from new vessels and a larger organisation.
Net profit declined to EUR 87.9 million from EUR 167.7 million, primarily because H1 2025 included EUR 111 million of non-recurring termination fees with no associated costs and due to higher financial expenses as capitalised borrowing costs fell. The equity ratio improved to 50.0% from 44.0%, supported by a March 2026 private placement that raised about EUR 174.2 million before costs and by retained earnings, lifting equity to EUR 1,773.6 million.
Cadeler reports a contracted backlog including options of EUR 2.487 billion at 30 June 2026, up from EUR 2.022 billion a year earlier, with EUR 1,103 million expected within one year. Cash and cash equivalents increased to EUR 206.2 million, and available liquidity including undrawn committed facilities totalled EUR 394 million. 2026 revenue guidance of EUR 854–944 million and EBITDA of EUR 420–510 million for the Group (excluding Menck) remain unchanged, with the impact of the August acquisition of Menck to be reflected in updated guidance later.
Cadeler A/S (CDLR) reports strong mid‑2026 progress, combining rapid financial growth with fleet and capability expansion. For H1 2026, revenue rose to EUR 408m and EBITDA to EUR 208m, both more than doubling year-on-year when adjusting the prior period for a one-off termination fee. Q2 2026 revenue reached EUR 283m and EBITDA EUR 161m, supported by fleet expansion and higher contracted days.
Fleet utilisation improved, with Q2 utilisation of 85% (adjusted 91%), and a contract backlog of EUR 2.5bn, of which EUR 2,116m is firm and 77% relates to projects that have reached final investment decision. Equity increased to EUR 1,774m, lifting the equity ratio to 50%, helped by a EUR 170m share capital increase and profit of EUR 88m for the period. Total assets rose by EUR 127m, driven by continued vessel investments and a higher cash balance of EUR 206m.
Strategically, Cadeler is strengthening its foundation installation offering through the acquisition of Menck, a provider of hydraulic hammers and related services, and firm contracts for two new T-class foundation vessels delivering in 2030 and 2031. The newbuild program remains on track, with the A-class vessel Wind Ace delivered ahead of schedule and Wind Apex 65% complete. Management reiterates a positive 2026 outlook based on strong demand, high vessel utilisation and growing offshore wind activity across Europe, APAC and North America.
Cadeler A/S (CDLR) reports a strong first half of 2026, with its fleet strategy and offshore wind focus driving substantial growth. Revenue for the first six months of 2026 more than doubled to EUR 408 million, up EUR 220 million from EUR 188 million a year earlier, and EBITDA more than doubled to EUR 208 million, up EUR 106 million from EUR 102 million, in each case adjusted for prior-period termination fees. Profit for the period rose to EUR 88 million, a 54% increase from an adjusted EUR 57 million, mainly driven by fleet expansion and a higher number of contracted days, while fleet utilisation across ten vessels remained stable at 66%.
Cadeler maintains its full-year 2026 guidance, expecting revenue of EUR 854–944 million and EBITDA of EUR 420–510 million. The August 2026 acquisition of Menck, a specialist in offshore foundation installation equipment and engineering, is expected to affect this guidance and is under review. The company continues to invest in full-scope foundation transportation and installation, including a EUR 175 million private placement funding two T-class newbuilds and the delivery of its eleventh vessel, Wind Ace. As of 25 August 2026, Cadeler’s total order backlog stands at nearly EUR 2.5 billion, with the 2026 order book substantially secured and new contracts and a preferred supplier agreement extending visibility into 2028.
Cadeler A/S announces that it plans to publish its H1 2026 Interim Report, covering financial results for the first six months of 2026, at approximately 08:00 CET on 25 August 2026. The report will be available on the company’s investor relations website.
On the same day, Cadeler will host a live video webcast earnings presentation for investors and analysts, presented by CEO Mikkel Gleerup and CFO Peter Brogaard Hansen from Oslo at 08:00 EST / 13:00 UK / 14:00 CET. The event is open to all interested parties, may include forward-looking information, allows research analysts to ask questions, and will be available as an archived replay with slides for at least three months.
Cadeler A/S has completed the acquisition of 100% of Menck, a German technology leader in offshore wind foundation equipment, under a definitive agreement with signing and closing occurring simultaneously after regulatory approvals. The transaction is based on an agreed enterprise valuation of EUR 501 million, funded initially by a EUR 380 million acquisition facility from DNB Bank ASA and Rabobank plus EUR 121 million of available liquidity.
Menck supplies hydraulic hammers and related services for offshore foundation installation, operating a rental-focused, cash-generative model with high EBITDA margins and limited maintenance capex. Revenue is shown increasing from EUR 86 million in 2023 to EUR 141 million in 2025, with EBITDA rising from EUR 25 million to EUR 37 million. For 2026, Menck forecasts revenue of EUR 133 million and EBITDA of EUR 44 million.
The company states that the deal strengthens Cadeler’s offshore wind foundation transportation and installation capabilities, improves access to mission-critical hydraulic hammers, and is expected to be accretive to Cadeler’s EBITDA multiples on a fully delivered hammer-on-order basis. Menck’s medium-term objectives include more than 20% revenue CAGR, an equipment rental revenue share above 70%, and an EBITDA margin of 50–55% on a fully delivered hydraulic hammer fleet basis.
Cadeler A/S has completed the strategic acquisition of Menck, a global provider of specialist equipment and technology for offshore foundation installation, based on an agreed enterprise valuation of EUR 501 million. Signing and closing occurred simultaneously after all mandatory regulatory approvals were received. Cadeler plans to operate Menck as a standalone business, preserving its independent market position while integrating its capabilities into Cadeler’s offshore wind foundation transportation and installation offering.
The deal is expected to be accretive to Cadeler’s EBITDA multiples on a fully delivered hydraulic hammer-on-order basis. It is financed using available liquidity and a EUR 380 million acquisition facility from DNB Bank ASA and Coöperatieve Rabobank U.A., which Cadeler expects to refinance with long-term financing and cash flow from operations. Management states the acquisition will broaden Cadeler’s solutions, reduce reliance on subcontracted services, and enhance support across the full offshore wind installation value chain. The combined group’s 2026 revenue and EBITDA guidance will be updated after a review.