Cadeler A/S (CDLR) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	732.5M	595.9M	248.7M	108.6M	106.4M
Cost of Revenue	384.7M	230.8M	127.2M	56.0M	50.3M
Gross Profit	347.7M	365.1M	121.5M	52.6M	56.1M
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	58.7M	—	51.6M	25.1M	13.9M
General & Admin Expense	37.5M	—	15.1M	5.0M	2.3M
Selling & Marketing Expense	—	—	36.5M	20.1M	11.5M
Other Expenses	21.0M	68.3M	487.0K	13.1M	1.0M
Total Operating Expenses	79.6M	68.3M	52.0M	38.2M	14.9M
Cost and Expenses	464.4M	299.1M	179.3M	94.2M	65.2M
Operating Income (EBIT)	268.1M	296.8M	69.4M	14.4M	41.2M
Non-Operating
Interest Income	12.6M	1.6M	3.3M	1.4M	244.0K
Interest Expense	78.4M	23.0M	2.8M	2.9M	1.5M
Net Interest Income	(65.8M)	(21.3M)	498.0K	(1.4M)	(1.3M)
Other Non-Op Income/Expense	(63.5M)	(20.3M)	(2.0M)	(2.9M)	(5.7M)
Non-Operating Income (excl Interest)	(16.5M)	(2.7M)	(829.0K)	(12.7M)	4.1M
EBT (Pre-Tax Income)	204.6M	276.5M	67.5M	11.5M	35.5M
Income Tax Expense	3.2M	7.4M	2.4M	—	—
Bottom Line
Net Income	201.5M	269.1M	65.1M	11.5M	35.5M
Earnings from Cont. Ops	201.5M	269.1M	65.1M	11.5M	35.5M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	201.5M	269.1M	65.1M	11.5M	35.5M
Per Share
Basic EPS	$2.16	$3.08	$0.76	$0.23	$0.88
Diluted EPS	$2.12	$3.04	$0.76	$0.23	$0.88
Revenue Per Share	$7.59	$6.80	$2.88	$2.16	$2.61
Shares
Basic Shares Outstanding	96.5M	87.6M	86.5M	50.3M	40.8M
Diluted Shares Outstanding	96.5M	88.7M	86.7M	50.8M	41.0M
Profitability Metrics
EBITDA	386.4M	402.8M	125.3M	49.7M	58.8M
D&A	101.8M	103.3M	55.0M	22.5M	21.7M
EBIT	284.6M	299.5M	70.3M	27.1M	37.1M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026