Cadeler A/s income statement

In fiscal 2025, Cadeler A/s reported revenue of $701m, up 160.6% on the year before, operating income of $359m (a 51.2% margin) and net income of $317m, or $3.57 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Cadeler A/s: income statement, annual
Fiscal year	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Revenue	72	112	117	269	701
Cost of revenue	46	52	65	134	268
Gross profit	26	60	53	135	434
General and administrative	13	17	37	62	84
Operating income	13	43	16	75	359
Interest expense	0	0	0	0	1
Income before tax	9	37	12	73	325
Income tax	−0	—	0	3	9
Net income	9	37	12	70	317
Diluted EPS	$0.28	$0.93	$0.26	$0.82	$3.57
Diluted shares (average)	33m	41m	51m	87m	89m
EBITDA	14	44	16	78	363

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Cadeler A/s's SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Cadeler A/s.