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 reports a major shareholder notification following a private placement of 35,095,758 new shares. Scorpio Holdings Limited subscribed for 6,929,642 new shares, increasing the Scorpio group’s direct and indirect position.
After the share capital increase, Scorpio Holdings Limited and Scorpio Services Holding Limited are expected to hold 49,356,825 shares of nominal DKK 1 each, equal to 12.78% of Cadeler’s share capital and voting rights. Of this, 41,385,792 shares are held directly by Scorpio Holdings Limited and 7,971,033 shares are held indirectly through Scorpio Services Holding Limited.
Cadeler A/S reports a major shareholder notification following a recent private placement and share lending arrangement involving BW Altor Pte. Ltd. In connection with a private placement of 35,095,758 new shares, BW Altor lent 22,968,883 existing Cadeler shares to the settlement agent to enable delivery-versus-payment to investors.
After this share lending and BW Altor’s subscription for 12,126,875 new shares in the private placement, BW Altor currently holds 85,324,026 Cadeler shares, representing 22.10% of the company’s share capital and voting rights, down from 27.36% in the latest notification. Once the capital increase is registered and the lent shares are returned, BW Altor is expected to hold 108,292,909 shares, corresponding to 28.05% of Cadeler’s enlarged share capital and voting rights.
Cadeler A/S reports a major share transaction by a person closely associated with its Vice-Chairman. Scorpio Holdings Limited subscribed for 6,929,642 new shares in a private placement of a total of 35,095,758 shares in Cadeler A/S.
The shares were subscribed at NOK 56.00 per share, corresponding to a total consideration of NOK 388,059,952, on 26 March 2026 outside a trading venue. The transaction is reported under Article 19 of the EU Market Abuse Regulation, which governs dealings by senior insiders and their closely associated persons.
Cadeler A/S reports transactions in its shares by BW Altor Pte. Ltd., a person closely associated with the chairman of the board. On 26 March 2026, BW Altor lent 22,968,883 Cadeler shares to DNB Carnegie to facilitate settlement of a private placement of new shares.
On the same date, BW Altor subscribed for 12,126,875 new Cadeler shares in the private placement at NOK 56.00 per share, for a total consideration of NOK 679,105,000, as part of a broader private placement of 35,095,758 shares. All transactions occurred outside a trading venue.
Cadeler has completed a private placement raising approximately EUR 175 million at a price above its 5-day volume-weighted average price. The funds will support initial capital commitments for two proposed T-class wind foundation installation vessel newbuilds and a potential acquisition and conversion of a scour protection vessel.
The T-class vessels are in advanced discussions for delivery in 2030 and 2031, with payment profiles expected to be back-loaded and around 65% of total capex financed with debt. Most capital commitments are projected after 2029, so management does not expect the program to constrain near-term dividend capacity or broader capital return ambitions.
Cadeler highlights disciplined industry newbuild activity, noting no wind foundation installation vessels have been ordered globally since its last order in Q2 2024 and pointing to a projected vessel undersupply from 2029 as support for long-term utilisation and pricing. The company states no additional equity is expected to be required to fund its current plans and that no final investment decisions have yet been made, with all terms remaining indicative.
Cadeler A/S filed a Form 6-K to share an investor presentation related to its financial results for the twelve months ended December 31, 2025. The presentation, dated March 24, 2026, is furnished as Exhibit 99.1 and was delivered by members of the company’s executive management.
Cadeler A/S is calling its annual general meeting for 21 April 2026 and outlining a full slate of governance and capital proposals. The Board proposes that shareholders approve the 2025 Annual Report and carry the EUR 280.2 million net profit forward with no dividend for 2025. Directors also seek re-election of three board members, confirmation of the chair and vice chair, and renewal of the auditor.
Key capital items include renewing authorisations to issue up to DKK 70,185,000 in new share capital (around 20% of current share capital) both with and without pre-emptive rights, extending a DKK 5,000,000 share-based incentive pool for management and employees, and permitting the company to buy back up to 10% of its share capital as treasury shares. Several of these amendments require at least a two-thirds majority of votes and capital represented.
Cadeler A/S, a Denmark-based offshore wind installation company, files its annual Form 20-F, highlighting a highly concentrated, capital-intensive fleet business focused on transporting, installing and maintaining offshore wind turbines and foundations.
The company operated 11 specialized vessels as of the report, with two additional A-Class newbuilds on order from COSCO in China and aggregate estimated capital expenditures of approximately EUR 462 million during 2026 and 2027 for these newbuilds. Contracted backlog amounted to about EUR 2,765 million as of December 31, 2025, including EUR 2,391 million from firm days and EUR 374 million tied to customer options that may not be exercised.
Cadeler outlines extensive risks: reliance on a limited number of vessels, exposure to operational incidents and offshore hazards, dependence on timely delivery and upgrades of vessels, concentrated customers, strong competition, rapid turbine technology changes, and sensitivity to offshore wind policy and demand. The company also discloses substantial floating-rate debt of 1,459.1 million, covenant constraints, cybersecurity and IT vulnerabilities, evolving ESG and environmental regulation (including EU ETS inclusion), complex international tax and sanctions exposure, and the need to retain key personnel. Ordinary shares outstanding totaled 350,957,583 as of December 31, 2025.
Cadeler A/S reported a strong 2025 with rapid growth and major fleet expansion. Revenue reached EUR 620 million, up from EUR 249 million in 2024, driven by five new vessels that doubled operational fleet capacity. EBITDA rose to EUR 425 million and net profit to EUR 280 million.
The company’s contract backlog stands at EUR 2.8 billion as of 24 March 2026, and its 2026 order book is substantially filled. For 2026, Cadeler guides to revenue between EUR 845 million and EUR 944 million and EBITDA between EUR 420 million and EUR 510 million.
Cadeler also launched Nexra, a dedicated offshore wind operations and maintenance platform, with O&M contributing about one fifth of 2025 revenue. Total assets grew to EUR 3,417 million and available liquidity was EUR 343 million, supporting continued investment in its modern offshore wind installation fleet.
Cadeler A/S reports a step‑change in scale for 2025, with revenue climbing to €620.4 million and EBITDA reaching €425.3 million, driven by strong demand for offshore wind installation and termination fees under a long-term agreement.
Net profit rose to €280.2 million, supported by higher vessel utilisation of 75% and a record contract backlog of about €2.8 billion as of December 31, 2025. The company doubled its operating fleet to ten vessels during the year and continued a large newbuild programme, lifting total assets to €3.42 billion and equity to €1.50 billion.
Cadeler guides 2026 revenue in the €854–944 million range and EBITDA of €420–510 million, underpinned by a largely filled 2026 order book and expanding operations and maintenance services. Management highlights disciplined capital structure, ample liquidity and long-term fleet commitments as key supports for growth in a tightening global market for offshore wind installation capacity.