CDLR Cadeler A/S
Price Chart
Executive Summary
Cadeler raised approximately EUR 175 million through a private placement to fund initial commitments for two T-class wind foundation installation vessel newbuilds and evaluate the acquisition of a scour protection vessel. The fleet expansion is structured with back-loaded payments and 65% expected debt financing, preserving near-term dividend capacity despite no final investment decisions being made.
Actionable Insight
Monitor for final investment decisions on the T-class newbuilds and scour protection vessel acquisition, which could signal confidence in long-term offshore wind demand. The back-loaded capex and debt financing suggest near-term dividend stability, but investors should assess future debt levels and utilization rates post-2029.
Key Facts
- Raised approximately EUR 175 million via private placement at a price above the 5-day VWAP
- Proceeds to fund initial capital commitments for two proposed T-class vessel newbuilds (delivery in 2030 and 2031)
- Evaluating acquisition and conversion of a scour protection vessel to strengthen foundation transportation and installation (TI) services
- Payment profiles for newbuilds are back-loaded, with majority of capex due after 2029
- Total capex expected to be 65% debt financed; no additional equity expected for current plans
- No final investment decisions made; all terms remain indicative
Financial Impact
EUR 175 million equity raise; total capex for newbuilds to be 65% debt financed with limited near-term cash outflows
Risk Factors
- No final investment decisions have been made — plans remain non-binding and subject to change
- Execution risk in securing favorable debt financing and vessel construction timelines
- Offshore wind market demand could weaken before 2030, affecting vessel utilization and returns
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001978867-26-000025 |
| Document: 0001978867-26-000025-index-headers.html | 0001978867-26-000025 |
| Document: 0001978867-26-000025-index.html | 0001978867-26-000025 |
| Document: 0001978867-26-000025.txt | 0001978867-26-000025 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 28, 2026
12d ago
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6-K
| $25.65 $24.72 | ▼ −3.63% | ▼ −3.94% | $23.40 (−8.77%) |
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May 27, 2026
13d ago
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6-K
| $26.25 $25.02 | ▼ −4.69% | ▼ −5.89% | $23.40 (−10.86%) |
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Mar 31, 2026
10w ago
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6-K
| $23.53 $24.94 | ▲ +5.99% | ▲ +2.05% | $23.40 (−0.55%) |
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Mar 30, 2026
10w ago
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6-K
| $21.94 $23.95 | ▲ +9.16% | ▲ +4.86% | $23.40 (+6.65%) |
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Mar 30, 2026
10w ago
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6-K
| $21.94 $23.95 | ▲ +9.16% | ▲ +4.86% | $23.40 (+6.65%) |
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Mar 30, 2026
10w ago
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6-K
| $21.94 $23.95 | ▲ +9.16% | ▲ +4.86% | $23.40 (+6.65%) |
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Mar 26, 2026
10w ago
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6-K
| $22.49 $23.94 | ▲ +6.45% | ▲ +4.81% | $23.40 (+4.05%) |
US Market Status
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