Cadeler has reported an annual revenue of €20m in 2020, compared with €38m in 2019, with an “unprecedented” €310m order backlog positioning it for a 2021 revenue increase of €56-63m.
Revenue for 2020 was impacted by upgrades to the fleet which lowered short-term operational capacity, but with the whole fleet again fully operational, Cadeler said it expects a “significantly increased” revenue for 2021.
Chief executive Mikkel Gleerup said: “We are operating in a rapidly growing market and by virtue of our successful IPO and subsequent substantial fleet upgrades, Cadeler is poised to deliver strong growth in 2021.
“The past year was an unprecedented one in many ways, but our strategic vision and the outstanding efforts of our crew and staff ensures that we are ready to deliver our best-in-class offshore services at a much greater volume.”