Cadeler A/S (CDLR) Financial Statements & Analysis

Cadeler A/S (CDLR) Income Statement

Cadeler A/S reported revenue of EUR 620.35M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 149.4% from EUR 248.74M a year earlier. Net income was EUR 280.18M, up 330.6% year over year, a net margin of 45.2%. Gross margin was 61.8% and operating margin 50.4%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was EUR 287.48M, up 23.4% from the same quarter a year earlier.

Cadeler A/S Income Statement Analysis

Values in millions EUR

Income Statement Balance Sheet Cash Flow Ratios

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Cadeler A/S income statement - Annual data in millions EUR
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	620.35	248.74	108.62	106.42	60.94	19.50	38.38	71.93	44.94
Cost of Revenue	236.76	127.25	55.98	49.54	39.02	45.94	44.80	65.52	49.89
Gross Profit	383.60	121.49	52.64	56.89	21.92	-26.44	-6.42	6.40	-4.95
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	67.63	51.56	25.09	13.88	10.35	9.10	6.87	3.84	3.19
Operating Expenses	70.86	52.05	38.20	15.70	10.78	9.48	7.22	3.84	3.19
Operating Income	312.74	69.44	14.44	41.19	11.13	-35.91	-13.65	2.56	-8.13
Other Income/Expense
Interest Income	1.71	3.29	1.43	0.24	0.36	7.70	0.00	0.20	0.00
Interest Expense	21.96	2.80	2.88	1.53	3.44	4.29	5.66	5.68	0.07
Other Income/Expense	-1.67	-1.97	-2.95	-4.05	-3.70	8.88	-8.54	0.08	0.20
Income
Income Before Tax	287.86	67.48	11.50	35.54	7.44	-27.03	-22.18	2.64	-7.94
Income Tax Expense	7.68	2.41	0.00	0.00	-0.01	0.00	1.58	1.71	1.56
Net Income	280.18	65.07	11.50	35.54	7.45	-27.03	-23.76	0.92	-6.38
Net Income - Continuous Operations	280.18	65.07	11.50	35.54	7.45	-27.03	-23.76	0.92	-6.38
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	417.34	125.30	49.65	59.75	27.05	-31.96	-13.56	2.56	-8.13
EBIT	309.82	70.27	27.15	37.07	10.88	-35.90	-	-	-
Depreciation & Amortization	3.55	55.03	22.50	1.02	16.17	3.94	0.08	0.08	0.05
Earnings Per Share
Basic EPS	3.00	1.00	-	1.00	-	-4.00	-2.00	-1.00	-8.00
Diluted EPS	3.00	1.00	-	1.00	-	-4.00	-2.00	-1.00	-8.00
Basic Shares Outstanding	87.63	86.49	50.34	40.80	32.79	6.48	9.62	9.62	0.78
Diluted Shares Outstanding	88.67	86.74	50.81	40.97	32.79	6.48	9.62	9.62	0.78

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Cadeler A/S Financial Statements

What was Cadeler A/S's revenue in fiscal 2025?

Cadeler A/S reported revenue of EUR 620.35M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 149.4% from EUR 248.74M a year earlier.

Is Cadeler A/S profitable?

Yes. Cadeler A/S earned net income of EUR 280.18M in fiscal 2025, a net margin of 45.2%. In fiscal 2024 it earned EUR 65.07M.

What is Cadeler A/S's operating margin?

Cadeler A/S's operating income was EUR 312.74M on revenue of EUR 620.35M in fiscal 2025, an operating margin of 50.4%, compared with 27.9% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition