Shares of Cadeler AS (CDLR) surged 6.02% in pre-market trading on Tuesday, following the release of the company's impressive 2024 annual results and a positive outlook for 2025. The offshore wind installation specialist reported a significant increase in both revenue and earnings, surpassing analyst expectations and demonstrating strong growth in the renewable energy sector.
Cadeler's 2024 revenue more than doubled to €249 million, up from €109 million in the previous year, while EBITDA saw a substantial increase to €126 million from €42 million in 2023. The company's performance was driven by high demand for its services, successful integration of Eneti following their merger, and the addition of new vessels to its fleet. Notably, Cadeler reported a record-high order backlog of €2.5 billion, indicating strong future growth potential.
Looking ahead, Cadeler provided an optimistic outlook for 2025, projecting revenue between €485 million and €525 million. This positive forecast, coupled with the company's strategic fleet expansion and robust project execution, has bolstered investor confidence. Additionally, Cadeler's Q4 2024 earnings of 11 cents per share beat analyst expectations of 7 cents per share, further contributing to the stock's pre-market rally.
