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%	-49.19%
Cost of Revenue	195.58	127.25	55.98	50.33	39.02	45.94
Gross Profit	343.16	121.49	52.64	56.09	21.92	-26.44
Selling, General & Admin	60.59	51.56	25.09	13.88	10.35	9.1
Other Operating Expenses	-5.19	-2.04	-0.14	-	0.02	-
Operating Expenses	57.92	52.05	25.49	14.9	10.78	9.47
Operating Income	285.24	69.44	27.15	41.19	11.13	-35.9
Interest Expense	-11.38	-2.8	-2.88	-1.53	-3.44	-4.29
Interest & Investment Income	4.58	3.29	1.43	0.24	-	-
Currency Exchange Gain (Loss)	-1.81	-1.81	-0.28	-4.41	0.1	5.5
Other Non Operating Income (Expenses)	-0.65	-0.65	-1.22	0.05	-0.36	-0.04
EBT Excluding Unusual Items	275.97	67.48	24.21	35.54	7.44	-34.74
Merger & Restructuring Charges	-	-	-7.71	-	-	-
Asset Writedown	-	-	-5	-	-	7.7
Pretax Income	275.97	67.48	11.5	35.54	7.44	-27.03
Income Tax Expense	6.37	2.41	-	-	-0.01	-0
Earnings From Continuing Operations	-	65.07	11.5	35.54	7.45	-27.03
Net Income to Company	-	65.07	11.5	35.54	7.45	-27.03
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	2857.77%	465.92%	-67.65%	377.00%	-	-
Shares Outstanding (Basic)	349	346	201	163	131	26
Shares Outstanding (Diluted)	354	347	203	164	131	26
Shares Change (YoY)	13.19%	70.73%	24.00%	24.96%	405.75%	3224.87%
EPS (Basic)	0.77	0.19	0.06	0.22	0.06	-1.04
EPS (Diluted)	0.76	0.19	0.06	0.22	0.06	-1.04
EPS Growth	2505.89%	229.37%	-73.78%	283.31%	-	-
Free Cash Flow	-662.62	-522.44	-3.52	-195.57	-132.74	-265.73
Free Cash Flow Per Share	-1.87	-1.51	-0.02	-1.19	-1.01	-10.25
Gross Margin	63.70%	48.84%	48.46%	52.70%	35.96%	-135.57%
Operating Margin	52.95%	27.92%	25.00%	38.70%	18.27%	-184.11%
Profit Margin	50.04%	26.16%	10.59%	33.40%	12.23%	-138.62%
Free Cash Flow Margin	-123.00%	-210.04%	-3.24%	-183.76%	-217.83%	-1362.67%
EBITDA	380.68	124.47	49.65	62.91	27.31	-31.96
EBITDA Margin	70.66%	50.04%	45.71%	59.12%	44.81%	-163.91%
D&A For EBITDA	95.44	55.03	22.5	21.72	16.17	3.94
EBIT	285.24	69.44	27.15	41.19	11.13	-35.9
EBIT Margin	52.95%	27.92%	25.00%	38.70%	18.27%	-184.11%
Effective Tax Rate	2.31%	3.57%	-	-	-	-

Updated Nov 20, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q