Copenhagen, 1 July 2025 -- Cadeler A/S (NYSE: CDLR / OSE: CADLR) today announces
that it has received a notice of termination from Ørsted A/S in relation to the
Long-Term Agreement for an A Class Windfarm Installation Vessel initially
disclosed on 8 April 2024. The agreement had secured A-Class vessel capacity
from Q1 2027 through the end of 2030.
The termination of the Long-Term Agreement is principally a result of Ørsted's
decision to discontinue work towards the Hornsea 4 Offshore Wind Farm.
Cadeler is entitled to agreed compensation as a consequence of the termination
of the Long-Term Agreement. In addition, Cadeler is now free to deploy the
vessel on alternative projects currently under discussion with third parties.
Cadeler does not believe that the termination of the Long-Term Agreement will
adversely affect Cadeler's long-term financial performance. Receipt of the
termination compensation noted above will positively impact financial guidance
for the 2025 calendar year.
Update to 2025 Guidance
Cadeler is revising upwards its revenue guidance for the financial year ending
December 31, 2025, with full-year revenue now expected to be within the range of
EUR 588 million and EUR 628 million (previously expected to be within the range
of EUR 485 million and EUR 525 million). In addition, Cadeler is revising
upwards its EBITDA guidance for the financial year ending December 31, 2025,
with full-year EBITDA now expected to be within the range of EUR 381 million and
EUR 421 million (previously expected to be within the range of EUR 278 million
and EUR 318 million.
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For further information, please contact:
Mikkel Gleerup
CEO, Cadeler
+45 3246 3102
mikkel.gleerup@cadeler.com
Alexander Simmonds
EVP & CLO, Cadeler
+44 7376 174172
alexander.simmonds@cadeler.com
About Cadeler:
Cadeler is a global leader in offshore wind installation, operations, and
maintenance services. Cadeler is a pure play company, operating solely in the
offshore wind industry with an uncompromising focus on safety and the
environment. Cadeler owns and operates the industry's largest fleet of jack-up
offshore wind installation vessels and has for more than 10 years been a key
supplier in the development of offshore wind energy to power millions of
households. Cadeler's fleet, expertise and capacity to handle the largest and
most complex next-generation offshore wind installation projects positions the
company to deliver exceptional services to the industry. Cadeler is committed to
being at the forefront of sustainable wind farm installation and to enabling the
global energy transition towards a future built on renewable energy. Cadeler is
listed on the New York Stock Exchange (ticker: CDLR) and the Oslo Stock Exchange
(ticker: CADLR).
For more information, please visit www.cadeler.com