Cadeler expects annual sales of €20 million in 2020, up from €38 million in 2019, with an “unbelievable” €310 million order backlog preparing it for revenue growth of €56-63 million in 2021. Revenue for 2020 was affected by fleet updates that reduced short-term operating capacity. Still, Cadeler predicts a “substantially increased” revenue for the year 2021 now that the whole fleet is completely operational. “We are working in an increasingly rising industry, and Cadeler is primed to deliver solid growth in 2021 as a result of our active IPO and corresponding major fleet upgrades,” stated CEO Mikkel Gleerup.
In several respects, the previous year was unprecedented. Still, thanks to our strategic ambition and the excellent work of our crew and personnel, we are now able to provide our best-in-class offshore solutions at a far higher volume.” Cadeler finished the construction of a modern crane boom on the Wind Osprey in 2020 June. The boom, which has a hook height of 132 meters above deck, was built on time and at a reduced cost than anticipated. Cadeler is much more positioned to satisfy customer expectations now that Wind Osprey is entirely operational again.
“We are poised for a year of increased utilization of our completely operating fleet,” Gleerup stated. We’ve secured higher-yielding ventures that will result in far higher profits and sales. Cadeler’s long-term development trend, fueled by a historically high pipeline of over €310 million, is just only getting started. Cadeler’s chances have never piqued my interest more.” “As a business, we entered 2021 with a tailwind, as well as several of our strategic priority areas in 2020 would no doubt prove beneficial in the years ahead,” he said.
As a result, the demand for our services is increasingly expanding, and we are very well poised to expand evermore in the coming years, thanks to our improvements to the existing fleet and proposed new-built X-class vessel. The offshore wind sector relies on Cadeler AS for maritime and infrastructure services. Pacific Orca, as well as Pacific Osprey, are two powerful Windfarm Installation Vessels that it runs. These vessels are well-suited for a broad variety of repair, development, and decommissioning duties in addition to the offshore wind farm installation.
Looking forward, Cadeler predicts that the potential for offshore wind power will continue to rise, as will the necessity of best-in-class transportation as well as installation facilities. The Global Wind Energy Council recently released a study that forecasts a quadrupling of yearly offshore wind turbine deployments by 2025, taking the offshore market size of current global wind installations from 6.5 percent today to 21 percent in 2025.
This post was originally published on Downey Magazine