Cadeler Income Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	538.74	248.74	108.62	106.42	60.94	19.5
Revenue Growth (YoY)	198.94%	128.99%	2.07%	74.64%	212.49%	-
Cost of Revenue	192.56	124.23	59.86	49.54	38.88	45.76
Gross Profit	346.18	124.51	48.76	56.89	22.06	-26.26
Selling, General & Admin	66.13	57.1	34.46	15.7	10.93	9.65
Other Operating Expenses	-5.19	-2.04	-0.14	-	-	-
Total Operating Expenses	60.94	55.07	34.32	15.7	10.93	9.65
Operating Income	285.24	69.44	14.44	41.19	11.13	-35.91
Interest Income	6.52	5.23	1.54	4.03	1.8	16.81
Interest Expense	-15.78	-7.2	-4.49	-9.68	-5.49	-7.93
Total Non-Operating Income (Expense)	-9.27	-1.97	-2.95	-5.65	-3.7	8.88
Pretax Income	275.97	67.48	11.5	35.54	7.44	-27.03
Provision for Income Taxes	-6.37	-2.41	-	-	-	-
Net Income	269.6	65.07	11.5	35.54	7.45	-27.03
Net Income to Common	269.6	65.07	11.5	35.54	7.45	-27.03
Net Income Growth	1336.30%	465.92%	-67.65%	377.00%	-	-
Shares Outstanding (Basic)	88	86	50	41	33	6
Shares Outstanding (Diluted)	88	87	51	41	33	7
Shares Change (YoY)	9.87%	70.73%	24.00%	24.96%	400.77%	-
EPS (Basic)	3.07	0.76	0.24	0.88	0.24	-4.16
EPS (Diluted)	3.07	0.76	0.24	0.88	0.24	-4.16
EPS Growth	-	216.67%	-72.73%	266.67%	-	-
Free Cash Flow	-662.62	-522.44	-3.52	-195.57	-132.74	-265.74
Free Cash Flow Per Share	-	-6.02	-0.07	-4.77	-4.05	-40.58
Gross Margin	64.26%	50.06%	44.89%	53.45%	36.20%	-134.65%
Operating Margin	52.95%	27.92%	13.30%	38.70%	18.27%	-184.16%
Profit Margin	50.04%	26.16%	10.59%	33.40%	12.23%	-138.62%
FCF Margin	-122.99%	-210.04%	-3.24%	-183.76%	-217.83%	-1362.67%
EBITDA	304.06	69.44	14.44	41.19	27.61	-20.43
EBITDA Margin	56.44%	27.92%	13.30%	38.70%	45.31%	-104.77%
EBIT	285.24	69.44	14.44	41.19	11.13	-35.91
EBIT Margin	52.95%	27.92%	13.30%	38.70%	18.27%	-184.16%
Effective Tax Rate	-2.31%	-3.57%	0.00%	0.00%	0.00%	0.00%

Updated Nov 20, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q