Cadeler AS (NYSE:CDLR)

Half Year 2025 Cadeler A/S Earnings Call Transcript

Aug 26, 2025 / 12:00 PM GMT

Release Date Price: $22.18 (+1.32%)

Transcript

Key Points

Positve

Cadeler AS (CADLF) reported financial performance above expectations for the first half of 2025, leading to an increase in full-year guidance.
The company secured a long-term contract for the Wind Keeper vessel, with a 3-year period and an additional 2.5 years of options.
Cadeler AS (CADLF) has a strong backlog of EUR 2.5 billion, with 97% of projects having final investment decisions.
The company is ahead of schedule on new builds, with the Vella expected to be delivered earlier than planned.
Cadeler AS (CADLF) maintains a solid balance sheet with a high utilization rate of 94.1% for Q2 2025.

Negative

The Revolution Wind project is currently halted, creating uncertainty and potential financial impact if the contract is canceled.
The US market constitutes less than 10% of Cadeler AS (CADLF)'s total backlog, indicating limited exposure in this region.
Some projects are facing delays, with timelines shifting closer to 2030, which could impact future revenue streams.
The company faces challenges in upgrading Chinese-built vessels for European operations, limiting potential fleet expansion.
There is a potential under-supply of efficient vessels for foundation installation expected by 2029, which could affect project execution.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CADLR.OL - Cadeler A/S
Half Year 2025 Cadeler A/S Earnings Call
Aug 26, 2025 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to Cadler's H12025 earnings presentation. Presenting today are Mikhail Gleerup, Chief Executive Officer, and Peter Broga, Chief Financial Officer. Please be reminded that the presenter's remarks today will include forward-looking statements. Actual results may differ materially from those contemplated.

The risks and uncertainties that could cause Cadler's results to differ materially from today's forward-looking statements include those detailed in Cadler's annual report on Form 20 on file with the United States Securities and Exchange Commission. Any forward-looking statements made this morning are based on assumptions as of today, and Caddlers undertakes no obligation to update these statements as a result of

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