Strong Utilization and Project Execution
Cadeler reported a high utilization rate of 92% for Q3 2025, indicating strong operational performance across global projects in the U.S., Europe, and Asia.
Significant Backlog Growth
The backlog reached a record high of EUR 2.9 billion, with 78% of it having reached Final Investment Decision (FID).
Financial Performance
Cadeler reported revenue of EUR 154.3 million and an EBITDA of EUR 109.1 million for Q3 2025, more than double the EBITDA from the previous year.
New Contracts and Deliveries
Cadeler signed new contracts, including a third full scope foundation T&I contract and two turbine installation T&I contracts. Additionally, three out of four newbuilds scheduled for 2025 delivery have been completed.
Record Cash Flow from Operations
Cash flow from operating activities was EUR 214 million for the quarter.