Added to YB: 2026-07-02
Pitch date: 2026-04-27
CDLR [bullish]
Cadeler A/S
-19.26%
current return
Author Info
No bio for this author
Company Info
Cadeler A/S, together with its subsidiaries, operates as an offshore wind installation vessel contractor in Denmark, the United Kingdom, Germany, Poland, rest of Europe, the United States, and Taiwan.
Market Cap
NOK 1.9B
Pitch Price
NOK 26.17
Price Target
34.20 (+62%)
Dividend
N/A
EV/EBITDA
7.19
P/E
7.03
EV/Sales
4.74
Sector
Construction and Engineering
Category
value
Cadeler A/S - $CDLR
CDLR: World's largest pure-play WTIV owner-operator, 12 vessels, 80% 3yr rev CAGR, 42% FY25 EBIT margin. Trades trough ~10x P/E, 1.23x P/TB on offshore wind pessimism (US stop-work orders). €2.8B backlog (87% Euro, 5% US), full through FY27. Fleet moat (€480M+ newbuild prices), APAC/O&M/T&I growth, ~30% upside on 7x EV/EBITDA FY27. Catalysts: backlog conversion, new vessel orders, dividend, EU support.
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