Cadeler AS (OSL:CADLR)

kr 53.2 +0.70 (+1.33%) Market Cap: 18.65 Bil Enterprise Value: 30.31 Bil PE Ratio: 17.52 PB Ratio: 1.32 GF Score: 77/100

Full Year 2024 Cadeler A/S Earnings Call Transcript

Mar 25, 2025 / 01:00 PM GMT

Release Date Price: kr55.1 (+0.18%)

Transcript

Key Points

Positve

Cadeler AS (CADLF) reported strong financial performance for 2024, with revenue doubling from the previous year.
The company successfully delivered the Wind Peak and the first M-class vessel on time and on budget, demonstrating effective project management.
Cadeler AS (CADLF) has a robust backlog of over EUR 2.5 billion, with 94% of projects having a final investment decision, providing strong earnings visibility.
The company has expanded its capacity with improved refinancing terms and increased credit facilities, supporting future growth.
Cadeler AS (CADLF) is well-positioned in the European offshore wind market, which remains a key driver of global growth in the industry.

Negative

The company faces challenges with the high cost and limited availability of new build vessels, impacting future expansion plans.
There are political and operational complexities in the North American market, which could affect project execution and profitability.
Cadeler AS (CADLF) has not committed to paying dividends in the medium term, which may be a concern for income-focused investors.
The company is experiencing increased SG&A costs as it ramps up its organization to support future projects, impacting short-term profitability.
There is a risk of lower margins from foundation TNI projects due to the nature of the services provided before installation begins.

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

CADLR.OL - Cadeler A/S
Full Year 2024 Cadeler A/S Earnings Call
Mar 25, 2025 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to CADA's 2024 annual result report presentation. Presenting today are Miguel Girra, Chief Executive Officer, and Peter Brogaard, 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 Kadla undertakes no obligation to update these statements

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