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CDLR on NYSE

Cadeler A/S

Cadeler A/S is a Deep Sea Foreign Transportation of Freight company, listed on NYSE (CDLR).1

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Last updated Oct 21, 2026.

Overview

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  • TickerCDLR on NYSE1
  • IndustryDeep Sea Foreign Transportation of Freight1
  • HeadquartersG71
  • Incorporated inDenmark2
  • Business addressKalvebod Brygge 43, Copenhagen V, G7 Dk-15602
  • Filer categoryLarge accelerated filer2

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Cadeler A/S was incorporated under the laws of Denmark on January 15, 2008 and has, from its incorporation, operated solely in the market for offshore wind. The Cadeler Group is headquartered in Copenhagen, Denmark and currently operates 10 offshore jack-up wind installation vessels, with two new builds on order. In addition to the transportation and installation of offshore wind turbine generators (“WTGs”) and their foundations, the Cadeler Group provides operations and maintenance, decommissioning and other general construction services to the offshore wind industry.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-$841.5MFree cash flow4

Financial statements

Gross profit564$383.6M in 2025+1639% since 2021
0$100.0M$200.0M$300.0M$400.0M2021: $22.1M$22.1M20212022: $56.9M$56.9M2022+158%2023: $48.8M$48.8M2023−14%2024: $124.5M$124.5M2024+155%2025: $383.6M$383.6M2025+208%
Operating income564$317.7M in 2025+2754% since 2021
0$100.0M$200.0M$300.0M$400.0M2021: $11.1M$11.1M20212022: $41.2M$41.2M2022+270%2023: $14.4M$14.4M2023−65%2024: $69.4M$69.4M2024+381%2025: $317.7M$317.7M2025+358%

Every line of the income statement as filed: the last 3 fiscal years, latest first.4

Period ending2025-12-312024-12-312023-12-31
Revenue620.4M EUR248.7M EUR108.6M EUR
Cost of sales-236.8M EUR-124.2M EUR-59.9M EUR
Gross profit383.6M EUR124.5M EUR48.8M EUR
Net other operating income and expenses8.8M EUR2.0M EUR137.0K EUR
Administrative expenses-74.6M EUR-57.1M EUR-34.5M EUR
Operating profit317.7M EUR69.4M EUR14.4M EUR
Financial income7.5M EUR5.2M EUR1.5M EUR
Financial expenses-37.4M EUR-7.2M EUR-4.5M EUR
Profit before income tax287.9M EUR67.5M EUR11.5M EUR
Income tax credit/expense-7.7M EUR-2.4M EUR0 EUR
Equity holders of the parent280.2M EUR65.1M EUR11.5M EUR
Basic, profit/(loss) for the period attributable to ordinary equity holders of the parent (EUR per share)0.80 EUR0.19 EUR0.06 EUR
Diluted, profit/(loss) for the period attributable to ordinary equity holders of the parent (EUR per share)0.79 EUR0.19 EUR0.06 EUR
Exchange differences on translation of foreign operations0 EUR34.1M EUR-6.7M EUR
Cash flow hedges - changes in fair value-5.0M EUR13.1M EUR-18.5M EUR
Cash flow hedges - items recycled-2.6M EUR1.5M EUR-776.0K EUR
Cash flow hedges - cost of hedging-5.7M EUR8.8M EUR-3.6M EUR
Other comprehensive (loss)/income after tax-13.3M EUR57.5M EUR-29.6M EUR
Total comprehensive income/loss for the period, net of tax266.9M EUR122.5M EUR-18.1M EUR

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Corporate structure

Cadeler A/S sits at the top of its group. 2 entities on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Cadeler A/S

Built from major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (1 companies). Each entity in the chart links to its source.

What it owns

What Cadeler A/S reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net2.9B EUR4 Dec 31, 20251.7B EUR4 Dec 31, 2024+71.5%
Operating-lease assets (leased space)12.6M EUR4 Dec 31, 202510.3M EUR4 Dec 31, 2024+21.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents151.7M EUR4 Dec 31, 202551.3M EUR4 Dec 31, 2024+195.9%

Inventory

ItemLatestA year beforeChange
Inventory, total3.5M EUR4 Dec 31, 20251.0M EUR4 Dec 31, 2024+240.7%

Calendar

Coming up

  1. Nov 19, 2026Reports results for the quarter ending Sep/20267

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

216 filings to the SEC since October 2021: 3 annual reports, 9 large holders, 204 other. The latest 20:

  1. Oct 6, 20266-K EDGAR
  2. Sep 25, 20266-K EDGAR
  3. Sep 23, 20266-K EDGAR
  4. Sep 22, 20266-K EDGAR
  5. Sep 22, 2026SC 14D9 EDGAR
  6. Sep 22, 2026SC TO-T EDGAR
  7. Sep 22, 2026425 EDGAR
  8. Sep 22, 2026425 EDGAR
  9. Sep 22, 2026425 EDGAR
  10. Sep 21, 20266-K EDGAR
  11. Sep 21, 2026425 EDGAR
  12. Sep 10, 20266-K EDGAR
  13. Aug 28, 2026425 EDGAR
  14. Aug 27, 20266-K EDGAR
  15. Aug 27, 20266-K EDGAR
  16. Aug 25, 20266-K EDGAR
  17. Aug 25, 20266-K EDGAR
  18. Aug 25, 20266-K EDGAR
  19. Aug 14, 20266-K EDGAR
  20. Aug 12, 20266-K EDGAR

The 216 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Stakes it holds

Cadeler A/S has told the SEC it owns more than 5% of 1 company, latest first (Schedules 13D and 13G).

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 60. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Condire Management, LP539,983$11.8M1.3%−84,417
Valueworks LLC503,514$11.0M2.3%+1,014
Storebrand Asset Management As380,721$8.3M0.0%No change
Invesco Ltd.333,418$7.3M0.0%+41,566
Franklin Resources Inc184,996$4.1M0.0%+2,400
Susquehanna International Group, Llp146,449$3.2M0.0%+143
Qube Research & Technologies Ltd109,585$2.4M0.0%+31,329
Yaupon Capital Management LP101,284$2.2M0.1%+5,152
Dimensional Fund Advisors LP95,269$2.1M0.0%−55,076
DNB Asset Management AS77,257$1.7M0.0%No change
Renaissance Technologies LLC58,500$1.3M0.0%+46,997
Citadel Advisors LLC44,463$974.2K0.0%−72,427
D. E. Shaw & Co., Inc.40,635$890.3K0.0%+9,452
Lanark Financial, Inc.38,747$848.9K0.1%No change
Millennium Management LLC35,000$766.9K0.0%−38,474
Cetera Investment Advisers34,768$761.8K0.0%+1,518
XTX Topco Ltd33,872$742.1K0.0%+18,090
Optiver Holding B.V.30,641$671.3K0.0%−20,750
Vident Advisory, LLC25,721$563.5K0.0%New
Jane Street Group, LLC21,383$468.5K0.0%−52,684
UBS Group AG20,009$438.4K0.0%−36,157
Citigroup Inc19,562$428.6K0.0%+9,828
Abc Arbitrage Sa19,029$416.9K0.0%New
Crossmark Global Holdings, Inc.18,559$406.6K0.0%New
Mercer Global Advisors Inc /adv17,961$393.5K0.0%+4,854

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Cadeler A/S is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCadeler A/S1
  • CIK0001978867
  • Filer statusLarge accelerated filer not an emerging growth company; not a shell company3
  • Incorporated inThe Kingdom of Denmark3
  • Fiscal year endsDecember 311
  • Industry code (SIC)4412 Deep Sea Foreign Transportation of Freight1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business addressKalvebod Brygge 43, Copenhagen V, G7 DK-15601
  • Phone45 3246 31001
  • Shares outstanding350,957,583 shares as of Dec 31, 20253
  • AuditorEY Godkendt Revisionspartnerselskab, Copenhagen PCAOB ID 1757; it also attests to the company’s internal control over financial reporting3
  • On EDGAR sinceJun 16, 20231
  • Filings217 in all: 6-K (148), 425 (24), SC TO-T/A (6), CORRESP (4), SCHEDULE 13D/A (4), 20-F (3), DRSLTR (3), UPLOAD (3)1
    All 25 form types

    EFFECT (2), SC 13D (2), SC TO-T (2), SCHEDULE 13G (2), SEC STAFF LETTER (2), 424B3 (1), 8-A12B (1), CERT (1), DRS (1), DRS/A (1), F-3ASR (1), F-4 (1), F-4/A (1), F-6 (1), SC 13G (1), SC 14D9 (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (20-F) Mar 24, 2026

Securities registered for trading

ClassSymbolExchange
Cadeler ordinary shares, with a nominal value of DKK 1.00 per shareNew York Stock Exchange
American Depositary Shares, each representing four (4) ordinary sharesCDLRNew York Stock Exchange

From the cover page of the 20-F filed Mar 24, 2026 (Section 12(b) of the Exchange Act).3

Sources

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