Cadeler announces planned investments in exceptional growth opportunities, balanced with dividend potential from strong cash flows

Core Viewpoint - Cadeler is strategically balancing investments in growth opportunities with the potential for dividends, supported by strong cash flows from its operations [1][2]. Group 1: Financial Performance and Investments - Cadeler completed a private placement raising approximately EUR 175 million to fund initial capital commitments for two proposed T-class Wind Foundation Installation Vessel newbuilds and a potential scour protection vessel acquisition [1]. - The company doubled its fleet size in 2025, enhancing its capacity to generate operational cash flows, while the global newbuild activity for wind foundation installation vessels has remained disciplined [3][11]. - Cadeler's fleet expansion is structured to ensure a clear path to capital returns, with limited near-term cash outflows expected to impact dividend capacity or capital return ambitions [4][6]. Group 2: Future Growth and Market Position - Cadeler is in advanced discussions for two competitively priced T-class newbuilds, with delivery expected in 2030 and 2031, and the majority of capital commitments anticipated to be back-loaded [4]. - The company is evaluating the acquisition and conversion of a scour protection vessel to enhance its foundation transportation and installation offerings, thereby reducing reliance on subcontractors and improving competitiveness [5]. - Strong underlying demand in the offshore wind industry is expected to provide good employment prospects across Cadeler's expanded fleet, with no additional equity required to fund current plans [6].