General – Cadeler
The Annual Report 2021 of Cadeler shows an increase in revenue of 212%, EBITDA of EUR 28 million and a EUR 409 million order backlog, while outlook for 2022 looks promising.
The company has tripled its revenue during the past year and has returned to profitability.
The revenue for 2021 totaled EUR 61 million, an increase of 212% against EUR 19.5 million in 2020.
The growth reflects an impressive 77% utilization rate of the vessels in the Cadeler fleet, at competitive market rates. The realized EBITDA amounted to EUR 28 million, compared to EUR -10 million in 2020. The 2021 expected EBITDA was EUR 26-30 million.
For 2022, Cadeler expects significant improvements on key metrics. Based on the current contract coverage, the financial performance for 2022 is expected to result in a revenue in the range of EUR 96-110 million and an EBITDA in the range of EUR 56 million to EUR 70 million.