Cadeler signs variation order for a current project resulting in increased outlook for 2022

17 Nov 2022 20:30 CET

Today, Cadeler has signed a variation order to an existing contract with an
undisclosed customer, which will include a change in terms and conditions for an
existing project that leads to an increased financial outlook for 2022.


Increased financial outlook for 2022

The changes in the existing contract are expected to improve Cadeler’s financial
results for 2022, and as a result, the company has updated its financial outlook
for the full year 2022 revenue to range between 100 to 110 million EUR. The
EBITDA guidance has also been increased and is now expected to be within the
range of 60 to 69 million EUR.

This new outlook replaces the previous outlook for the full year 2022, which was
restated in Cadeler’s Interim Financial Report for the period 1 January to 30
June 2022, and where Cadeler in its guidance for the full year 2022 expected the
revenue to be between 96 to 106 million Euro while EBITDA was expected to be in
the range of 56 to 65 million Euro.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading
Act.

This stock exchange announcement was published by Mikkel Gleerup (CEO) at
Cadeler A/S on 17 November 2022 at 8.30PM(CET).


For further information, please contact:
Mikkel Gleerup, CEO
+45 3246 3102
mikkel.gleerup@cadeler.com


About Cadeler A/S:
Cadeler A/S is a key supplier with the offshore wind industry for installation
services and operation and maintenance works that provides marine and
engineering operations to the offshore wind industry with a strong focus on
safety and the environment. Cadeler’s reputation as provider of high-quality
offshore wind support services, combined with an innovative vessel design,
positioning the company to deliver premium level services to the industry. As a
company, Cadeler continues to pursue new levels of efficiency, pushing beyond
the current boundaries of the supply chain. Cadeler enables and facilitates the
global energy transition towards a future built on renewable energy. Cadeler is
listed on the Oslo Stock Exchange (ticker CADLR).

Forward-looking statements:

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and that can be identified by words such as “believe”, “expect”,
“anticipate”, “intend”, “estimate”, “will”, “may”, “continue”, “should”, and
similar expressions, as well as other statements regarding future events or
prospects. The forward-looking statements in this announcement are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although the company believes that these assumptions were reasonable when made,
these assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies, and other important factors which are difficult or
impossible to predict and are beyond its control. Such factors could cause
actual events to differ materially from the expectations, projections,
estimates, and targets expressed or implied in this announcement by such
forward-looking statements. The information, opinions, and forward-looking
statements contained in this report speak only as at its date and are subject to
change without notice.

More information:
Access the news on Oslo Bors NewsWeb site

576109_Cadeler_Stock Exchange Announcement_VO_Change_Outlook_2022.pdf