Cadeler Income Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	620.35	248.74	108.62	106.42	60.94
Revenue Growth (YoY)	149.40%	128.99%	2.07%	74.64%	212.49%
Cost of Revenue	240.12	127.25	55.98	50.33	39.02
Gross Profit	380.23	121.49	52.64	56.09	21.92
Selling, General & Admin	67.63	51.56	25.09	13.88	10.35
Other Operating Expenses	-8.69	-2.04	-0.14	-	0.02
Operating Expenses	62.49	52.05	25.49	14.9	10.78
Operating Income	317.74	69.44	27.15	41.19	11.13
Interest Expense	-21.96	-2.8	-2.88	-1.53	-3.44
Interest & Investment Income	1.71	3.29	1.43	0.24	-
Currency Exchange Gain (Loss)	-5.09	-1.81	-0.28	-4.41	0.1
Other Non Operating Income (Expenses)	-4.55	-0.65	-1.22	0.05	-0.36
EBT Excluding Unusual Items	287.86	67.48	24.21	35.54	7.44
Merger & Restructuring Charges	-	-	-7.71	-	-
Asset Writedown	-	-	-5	-	-
Pretax Income	287.86	67.48	11.5	35.54	7.44
Income Tax Expense	7.68	2.41	-	-	-0.01
Net Income to Company	280.18	65.07	11.5	35.54	7.45
Net Income	280.18	65.07	11.5	35.54	7.45
Net Income to Common	280.18	65.07	11.5	35.54	7.45
Net Income Growth	330.60%	465.92%	-67.65%	377.00%	-
Shares Outstanding (Basic)	351	346	201	163	131
Shares Outstanding (Diluted)	355	347	203	164	131
Shares Change (YoY)	2.23%	70.73%	24.00%	24.96%	405.75%
EPS (Basic)	0.80	0.19	0.06	0.22	0.06
EPS (Diluted)	0.79	0.19	0.06	0.22	0.06
EPS Growth	320.05%	229.37%	-73.78%	283.31%	-
Free Cash Flow	-841.47	-522.44	-3.52	-195.57	-132.74
Free Cash Flow Per Share	-2.37	-1.51	-0.02	-1.19	-1.01
Gross Margin	61.29%	48.84%	48.46%	52.70%	35.96%
Operating Margin	51.22%	27.92%	25.00%	38.70%	18.27%
Profit Margin	45.16%	26.16%	10.59%	33.40%	12.23%
Free Cash Flow Margin	-135.64%	-210.04%	-3.24%	-183.76%	-217.83%
EBITDA	423.14	124.47	49.65	62.91	27.31
EBITDA Margin	68.21%	50.04%	45.71%	59.12%	44.81%
D&A For EBITDA	105.4	55.03	22.5	21.72	16.17
EBIT	317.74	69.44	27.15	41.19	11.13
EBIT Margin	51.22%	27.92%	25.00%	38.70%	18.27%
Effective Tax Rate	2.67%	3.57%	-	-	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.