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) 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.
Cadeler A/S has signed firm contracts with COSCO Shipping Offshore shipyard in Qidong, China, for the construction of two new T-class offshore wind installation vessels, with deliveries scheduled in 2030 and 2031. The contract price for the two vessels is approximately EUR 805 million in aggregate, following equity financing secured earlier in the year as part of Cadeler’s long-term growth strategy.
The T-class series is described as the largest and most capable offshore wind installation vessels yet introduced to the market, incorporating new technologies and expanded operational capabilities aimed at handling increasingly complex projects. The orders build on Cadeler’s existing collaboration with COSCO Shipping Offshore, which has already constructed several vessels for the company. These vessels form part of Cadeler’s fleet expansion strategy to support the accelerating build-out of offshore wind, and the company is already in discussions with key clients regarding their future deployment.
Cadeler A/S reports the successful delivery, on time and within budget, of Wind Ace, its eleventh offshore wind installation vessel and second of three A-class newbuilds. Built at COSCO Shipping Offshore in Qidong, China, construction recorded more than 3,5 million working hours without any lost time accidents.
Wind Ace is a hybrid A-class vessel designed to install both XXL monopile foundations and next‑generation wind turbine generators. After mobilisation, it will transport and install all 64 turbines and their foundations at ScottishPower Renewables’ 960 MW East Anglia TWO offshore wind farm in the UK, with offshore works scheduled to begin in 2027. With this delivery, Cadeler now operates a fleet of eleven offshore wind installation vessels, and its third A-class vessel, Wind Apex, is planned for delivery in the first half of 2027.
Cadeler A/S entered into an EIFO-backed senior secured green term loan facility of EUR 247 million to partly finance construction of its third A-class offshore wind installation vessel, Wind Apex. Delivery of Wind Apex is expected in Q2 2027.
The 12-year facility is supported by the Export and Investment Fund of Denmark (EIFO) and is designated as green financing under Cadeler’s Green Finance Framework. A lending syndicate including HSBC, KfW IPEX-Bank, Coöperatieve Rabobank U.A. and DNB Bank ASA is participating, with HSBC’s Singapore Branch acting in multiple coordinating and agent roles.
Cadeler A/S reports that Niki Invest ApS, a company closely associated with board member Ditlev Wedell-Wedellsborg, has purchased additional Cadeler shares on the Oslo Stock Exchange. On 8 June 2026, Niki Invest ApS bought 19,468 shares at an average price of NOK 55.67, for a total of NOK 1,083,723.40. On 10 June 2026, it purchased a further 5,472 shares at NOK 53.40, totaling NOK 292,204.80. These transactions were notified under EU Market Abuse Regulation rules for managers and closely associated persons.
Cadeler A/S has completed and early-terminated its share buy-back programme after reaching the maximum number of shares to be repurchased. On 27 May 2026, the company bought 105,275 of its own shares on the Oslo Stock Exchange at a weighted average price of NOK 62.66, for a total of NOK 6,596,058 (EUR 610,916). The programme, initiated on 27 May 2026, was designed to meet obligations under employee share-based incentive schemes and was conducted under EU Safe Harbour Rules. After these transactions, Cadeler holds 169,267 treasury shares with nominal value DKK 1.00 each, representing less than 0.1% of its total share capital and voting rights.