Cadeler

OverviewSuggest Edit

Cadeler (formerly known as Blue Ocean Ships) is a supplier within the offshore wind industry for installation services, operations and maintenance works. It operates two offshore jack-up windfarm installation vessels: Wind Orca and Wind Osprey. The vessels can perform transport and installation of offshore foundations, wind turbine generators, and platform topsides/substations, maintenance of offshore wind turbine generators, structures and platforms, subsea and offshore construction, offshore decommissioning and accommodation, salvage assistance, as well as heavy lift and project cargo.

TypePublic
Founded2008
HQCopenhagen, DK
Websitecadeler.com

Latest Updates

Employees (est.) (Jun 2022)70(+30%)
Revenue (FY, 2021)€60.9 M(+213%)
Share Price (Aug 2022)KR36.7
Cybersecurity ratingAMore
Discover new suppliers and conduct deeper comparison analysis with Craft for EnterpriseLearn more
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Key People/Management at Cadeler

Mikkel Gleerup

Mikkel Gleerup

Chief Executive Officer
Mark Konrad

Mark Konrad

Chief Financial Officer
Jacob Heinricy Jensen

Jacob Heinricy Jensen

Chief Operations Officer
Jacob Christian Gregersen

Jacob Christian Gregersen

Chief Commercial Officer
Ole Johansson

Ole Johansson

General Counsel
Andreas Sohmen-Pao

Andreas Sohmen-Pao

Chairman of the Board
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Cadeler Office Locations

Cadeler has offices in Copenhagen, Vejle and Taipei
Copenhagen, DK (HQ)
Fairway House Arne Jacobsens Allé 7
Vejle, DK
Enghavevej 9D, 1st Floor
Taipei, TW
12th Floor, No. 129, Minsheng E. Rd, Section 3
Show all (3)

Cadeler Financials and Metrics

Cadeler Revenue

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View revenue for all periods
Cadeler's revenue was reported to be €60.94 m in FY, 2021
EUR

Revenue (FY, 2021)

60.9m

Gross profit (FY, 2021)

39.9m

Gross profit margin (FY, 2021), %

65.5%

Net income (FY, 2021)

7.5m

EBITDA (FY, 2021)

27.6m

EBIT (FY, 2021)

11.1m

Market capitalization (2-Aug-2022)

5.1b

Closing stock price (2-Aug-2022)

36.7

Cash (31-Dec-2021)

2.3m

EV

5.2b
Cadeler's current market capitalization is kr5.1 b.
Annual
EURFY, 2018FY, 2019FY, 2020FY, 2021

Revenue

71.7m38.4m19.5m60.9m

Cost of goods sold

(25.6m)(19.6m)(20.7m)(21.0m)

Gross profit

46.1m18.8m(1.2m)39.9m

Gross profit Margin, %

64%49%(6%)65%
Half Year
EURH1, 2020H1, 2021

Revenue

9.1m32.3m

Cost of goods sold

(15.3m)(11.3m)

Gross profit

(6.1m)21.0m

Gross profit Margin, %

(67%)65%
Annual
EURFY, 2018FY, 2019FY, 2020FY, 2021

Cash

397.0k1.2m63.6m2.3m

Accounts Receivable

12.5m14.9m7.0m18.4m

Prepaid Expenses

116.0k87.0k328.0k1.5m

Inventories

842.0k261.0k312.0k440.0k
Half Year
EURH1, 2020H1, 2021

Cash

1.6m139.3m

Accounts Receivable

10.7m15.7m

Prepaid Expenses

150.0k

Inventories

535.0k285.0k
Annual
EURFY, 2018FY, 2019FY, 2020FY, 2021

Net Income

(6.3m)(23.8m)(27.0m)7.5m

Depreciation and Amortization

16.5m

Inventories

(196.0k)581.0k(51.0k)(128.0k)

Accounts Payable

143.0k923.0k3.9m2.4m
Half Year
EURH1, 2020H1, 2021

Net Income

(20.3m)4.9m

Inventories

(273.0k)27.0k

Accounts Payable

502.0k(1.9m)
EURFY, 2018

Revenue/Employee

2.2m

Debt/Equity

10.8 x

Debt/Assets

0.9 x

Financial Leverage

12.6 x
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Cadeler Operating Metrics

FY, 2020

Contract Backlog

€310 m

Wind Turbines Installed

287

Cadeler Acquisitions / Subsidiaries

Company NameDateDeal Size
Wind Orca Ltd.
Wind Osprey Ltd.

Cadeler Revenue Breakdown

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Cadeler revenue breakdown by business segment: 50.0% from SEA TRANSPORT DIV'E and 50.0% from SEA TRANSPORT DIV'E

Cadeler revenue breakdown by geographic segment: 50.0% from DENMARK and 50.0% from DENMARK

Human Capital Metrics

Source: craft.co
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Cadeler Cybersecurity Score

Cybersecurity ratingPremium dataset

A

91/100

SecurityScorecard logo

Cadeler Online and Social Media Presence

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Cadeler News and Updates

Cadeler A/S signs key contract with Dutch contractor Van Oord to assist in executing Dutch offshore wind project “Hollandse Kust Noord”

Cadeler A/S, a key supplier of marine installation and engineering services in the offshore wind industry, has been chosen as partner by the Dutch marine contractor Van Oord to assist in executing yet another wind farm project off the coast of the Netherlands. The Hollandse Kust Noord project consis…

Cadeler A/S is chosen as preferred supplier by Ørsted Offshore Wind Power A/S for joint German projects

Cadeler A/S, a key supplier of marine installation and engineering services in the offshore wind industry, has been chosen as preferred Wind Turbine Generator (“WTG”) installation vessel supplier by Ørsted for the combined Gode Wind 3 & Borkum Riffgrund 3 projects

NOV signs wind installation vessel contract with COSCO SHIPPING Heavy Industry and Cadeler

NOV Inc. has announced the signing of a contract with COSCO SHIPPING Heavy Industry and Cadeler to supply two GustoMSC™ NG-20000X self-propelled wind turbine installation jack-up vessel designs, which will be known as the Cadeler X-Class

Interim report H1 2021 Cadeler delivers 253% growth in revenue and returns to profitability during first half of 2021

Cadeler A/S announces its results for the first half of 2021, showing a return to profitability driven by high utilization of its fleet combined with improved rates

Cadeler Frequently Asked Questions

  • When was Cadeler founded?

    Cadeler was founded in 2008.

  • Who are Cadeler key executives?

    Cadeler's key executives are Mikkel Gleerup, Mark Konrad and Jacob Heinricy Jensen.

  • How many employees does Cadeler have?

    Cadeler has 70 employees.

  • What is Cadeler revenue?

    Latest Cadeler annual revenue is €60.9 m.

  • What is Cadeler revenue per employee?

    Latest Cadeler revenue per employee is €870.5 k.

  • Who are Cadeler competitors?

    Competitors of Cadeler include Sif Group, Steelwind Nordenham and Siemens Gamesa.

  • Where is Cadeler headquarters?

    Cadeler headquarters is located at Fairway House Arne Jacobsens Allé 7, Copenhagen.

  • Where are Cadeler offices?

    Cadeler has offices in Copenhagen, Vejle and Taipei.

  • How many offices does Cadeler have?

    Cadeler has 3 offices.