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NEWS ER

Cadeler Reports Strong Q3 Results Backed by Solid Client Demand and High Utilisation of Its Growing, Modern and Flexible Fleet


Positive

Revenue increased 252% YoY to EUR 81M in Q3 2024
EBITDA grew 500% YoY to EUR 48M in Q3 2024
Record backlog of EUR 2.386B with 88.7% FID-secured projects
Fleet utilization improved to 86.5% in Q3
Guidance increased for FY2024 revenue and EBITDA
New major contracts secured including East Anglia TWO (EUR 360-382M)

Negative
9-month profit decreased to EUR 28M from EUR 30M YoY
Increased headcount, depreciation, and financing costs impacting profits
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