Denmark-based offshore wind installation company Cadeler reported a more than twofold increase in first-half revenue as fleet expansion and higher contracted days offset operational costs.
First-half revenue rose to EUR 408 million from EUR 195 million a year earlier, while net income climbed 54% to EUR 88 million. The company attributed the growth to increased vessel utilization and new contract awards, which supported a higher average day rate across its fleet.
Cadeler’s order backlog stood at nearly EUR 2.5 billion as of August 2026, extending visibility through 2026. The company operated its expanded fleet at a new scale to enhance flexibility and redundancy, reducing exposure to project delays and shifting market conditions.
Capital expenditures included the completion of a private placement and orders for new vessels to strengthen foundation transport and installation capabilities. Cadeler also initiated a review of the Menck acquisition’s impact on its 2026 financial outlook, with an update expected in the coming months.
Full-year 2026 guidance remained unchanged, with revenue projected between EUR 854 million and EUR 944 million, and EBITDA expected in the range of EUR 420 million to EUR 510 million. The company maintained its strategic focus on scaling operations to meet rising demand in offshore wind projects amid the global energy transition.
