Cadeler A/S
Public limited companyCVR 31180503København VActive
Cadeler A/S is a public limited company, based in København V, active in sea and coastal freight water transport, founded in 2008. Net profit rose 331% from 2024 to 2025, ending at DKK 280.2m. Measured by gross profit, it ranks no. 4 of 103 companies in the industry in the database. Profit has grown three years in a row.
Key figures · financial year 2025
RevenueDKK 620.4m+149.4% vs. 2024
Net profitDKK 280.2m+330.6% vs. 2024
EquityDKK 1.5bn+21.9% vs. 2024
Employees745latest month from CVR
What has changed
calculated from recorded figures and datesFinancials: 2025 against 2024
- Gross profit rose 208% (2024 → 2025), to DKK 383.6m.
- Revenue rose 149% (2024 → 2025), to DKK 620.4m.
- Net profit rose 331% (2024 → 2025), to DKK 280.2m.
- Equity rose 22% (2024 → 2025), to DKK 1.5bn.
Employees
- 181 more employees than a year earlier: 745 (07/2026) against 564 (07/2025).
Management and owners, last 24 months
- New in management: Thomas Thune Andersen (board member, 11/11/2024).
- New owners registered: BW Altor Pte. Ltd. (27/11/2025), Scorpio Holdings Limited (26/03/2026) and Folketrygdfondet (05/12/2024) (+2).
- No longer registered as owner: BW Altor Pte. Ltd. (26/03/2025), Scorpio Holdings Limited (25/03/2026) and Folketrygdfondet (26/03/2026) (+2).
Registrations, last 24 months
- 25/03/2026: Share capital changed from 350,957,583 DKK to 386,053,341 DKK
Calculated from the latest two annual reports in sequence and from registrations in CVR. A figure that is missing in either year gives no line, and we derive no figures.
Financial statements
Financial years 2020–2025 · amounts in DKK thousandEquity and net profit
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change | |
|---|---|---|---|---|---|---|---|
| Revenue | 19,501 | 60,938 | 106,424 | 108,622 | 248,738 | 620,354 | +149.4% |
| Gross profit | – | 22,059 | 56,887 | 48,764 | 124,510 | 383,599 | +208.1% |
| Operating profit (EBIT) | −35,914 | 11,134 | 41,191 | 14,443 | 69,444 | 317,743 | +357.6% |
| Profit before tax | −27,033 | 7,438 | 35,541 | 11,498 | 67,477 | 287,864 | +326.6% |
| Net profit | −27,032 | 7,451 | 35,541 | 11,498 | 65,069 | 280,184 | +330.6% |
| Total assets | 336,811 | 424,766 | 670,030 | 1,252,560 | 1,937,016 | 3,416,676 | +76.4% |
| Equity | 241,063 | 325,256 | 540,568 | 959,041 | 1,233,894 | 1,503,676 | +21.9% |
| Liabilities | 95,748 | 99,511 | 129,462 | 293,519 | 703,122 | 1,913,000 | +172.1% |
| Cash and cash equivalents | 63,636 | 2,308 | 19,012 | 96,608 | 58,464 | 151,679 | +159.4% |
| Average number of employees | 42 | – | – | – | – | – | – |
Source: annual reports filed with the Danish Business Authority (XBRL). Figures for the company (not the group); change is the latest year against the year before. “–” means the figure is not stated in the annual report.
Download the figures as CSV · free with an account, amounts in whole DKK
Signals from the financial statements
calculated from the 2025 figuresProfit for five years in a row
Net result has been positive in 2021–2025.
How is this calculated?
Net result is positive in the five latest annual reports in a row.
The signals are rules applied to the figures in the annual reports. They are not an assessment or credit rating of the company. See Data and method.
Annual reports
6 financial years| Financial year | Period | Published | Figures for | Documents |
|---|---|---|---|---|
| 2025 | 01/01/2025 – 31/12/2025 | 30/04/2026 | The company | PDF not statedXBRL |
| 2024 | 01/01/2024 – 31/12/2024 | 30/04/2025 | The company | PDF not statedXBRL |
| 2023 | 01/01/2023 – 31/12/2023 | 24/04/2024 | The company | PDF not statedXBRL |
| 2022 | 01/01/2022 – 31/12/2022 | 26/04/2023 | The company | PDF not statedXBRL |
| 2021 | 01/01/2021 – 31/12/2021 | 27/04/2022 | The company | PDF not statedXBRL |
| 2020 | 01/01/2020 – 31/12/2020 | 19/05/2021 | The company | PDFXBRL |
The figures from all the annual reports are shown on this page. The documents themselves (PDF and XBRL, the machine-readable edition) are downloaded with a Pro account: sign in or create a free account, and then choose Pro. XBRL is the edition the figures on the page are read from.
Employees
monthly figures from CVRPosition in the industry
108 companies in the databaseComparison with the other companies in sea and coastal freight water transport based on the latest financial year.
Gross profitDKK 383.6mNo. 4 of 103
Better than 97% of the companies in the industry
EquityDKK 1.5bnNo. 2 of 108
Better than 99% of the companies in the industry
Number of employees745No. 4 of 108
Better than 97% of the companies in the industry
Industry median: gross profit DKK 5.1m, net profit DKK 919k, equity DKK 15.4m, 13 employees.
Compared with similar companies
size, age and company form| Group | Gross profit | Equity |
|---|---|---|
| Companies with 500–999 employees207 companies in the comparison | No. 81of 189 Better than 57% | No. 33of 207 Better than 84% |
| Companies that are between 15 and 29 years old24,910 companies in the comparison | No. 145of 24,791 Better than 99% | No. 143of 24,909 Better than 99% |
| All companies of type A/S18,025 companies in the comparison | No. 386of 17,786 Better than 98% | No. 293of 18,024 Better than 98% |
The rank is calculated among companies in the database with a figure for the latest financial year, and is shown only for groups of at least ten companies.
Compare with the industry
Sea and coastal freight water transportGross profit
- Cadeler A/SDKK 383.6m
- Unifeeder A/SDKK 554.1m
- Royal Arctic Line A/SDKK 512.4m
Net profit
- Cadeler A/SDKK 280.2m
- Unifeeder A/SDKK 208.9m
- Royal Arctic Line A/SDKK 10.9m
Equity
- Cadeler A/SDKK 1.5bn
- Unifeeder A/SDKK 2.5bn
- Royal Arctic Line A/SDKK 648.4m
Employees
- Cadeler A/S745
- Unifeeder A/S146
- Royal Arctic Line A/S40
Latest financial year per company. Choose up to three companies from the largest in the industry.
Owners and group
from the Public Ownership RegisterOwners
- BW Altor Pte. Ltd.25%
- Scorpio Holdings Limited10%
Cadeler A/S
Management
9 active registrationsExecutive management
| Name | Role | Appointed |
|---|---|---|
| Mikkel Gleerup | CEO | 01/02/2018 |
| Peter Brogaard Hansen | Director | 01/06/2022 |
Board of directors
| Name | Role | Appointed |
|---|---|---|
| Ditlev Gustav Wedell-Wedellsborg | Board member | 22/10/2020 |
| Andreas Sohmen-Pao | Chair of the board | 29/04/2021 |
| Andrea Abt | Board member | 25/04/2023 |
| Emanuele Lauro | Deputy chair | 20/02/2024 |
| Jaime Nish | Board member | 20/02/2024 |
| Colette Brigid Cohen | Board member | 23/04/2024 |
| Thomas Thune Andersen | Board member | 11/11/2024 |
- Founders
- Danebod Holding ApS, Amorim Holding ApS, Anders Johansson Holding ApS
Former management (32)
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| Lars Nørgaard Blicher | Director | 15/01/2008 | 16/11/2017 |
| Anders Retz Johansson | Board member | 15/01/2008 | 20/03/2008 |
| Jørgen Victor Amorim | Board member | 15/01/2008 | 20/03/2008 |
| Tage Benedikt Bundgaard | Board member | 20/03/2008 | 12/02/2010 |
| Palle Nørgaard | Board member | 20/03/2008 | 12/02/2010 |
| Peter Høstgaard-Jensen | Chair of the board | 20/03/2008 | 12/02/2010 |
| Lars Nørgaard Blicher | Board member | 12/02/2009 | 16/11/2017 |
| Rikke Vallentin Stoltz | Board member | 12/02/2010 | 26/04/2016 |
| Rikke Vallentin Stoltz | Director | 12/02/2010 | 13/05/2016 |
| Ngan Yee Lung | Board member | 12/02/2010 | 30/07/2010 |
| Nigel Llewelyn Gribble | Director | 30/07/2010 | 30/07/2010 |
| Nigel Llewelyn Gribble | Board member | 30/07/2010 | 07/09/2015 |
| Brian Townsley | Board member | 01/11/2011 | 22/10/2020 |
| Neil Francis Glenn | Chair of the board | 01/11/2011 | 07/09/2015 |
| Robert Amyon John Templeman Chaffey | Board member | 07/09/2015 | 01/10/2016 |
| Ronald James Mathison | Chair of the board | 07/09/2015 | 08/12/2015 |
| Rupert Peter Napier Bray | Board member | 30/09/2015 | 07/12/2015 |
| Rupert Peter Napier Bray | Chair of the board | 08/12/2015 | 31/05/2018 |
| Martin Møller Olesen | Board member | 26/04/2016 | 22/10/2020 |
| Martin Møller Olesen | Director | 13/05/2016 | 13/11/2020 |
| Seng Yum Ronald Tham | Board member | 01/10/2016 | 01/10/2016 |
| Robert Amyon John Templeman Chaffey | Board member | 01/10/2016 | 01/11/2016 |
| Seng Yum Ronald Tham | Board member | 01/11/2016 | 31/05/2018 |
| Mikkel Gleerup | Board member | 01/02/2018 | 22/10/2020 |
| Roy George Shearer | Board member | 01/06/2018 | 26/11/2021 |
| Richard Lawrence Sell | Chair of the board | 01/07/2018 | 29/04/2021 |
| Connie Hedegaard Koksbang | Board member | 22/10/2020 | 16/06/2023 |
| Jesper Teddy Lok | Board member | 22/10/2020 | 23/04/2024 |
| Mark Konrad | Director | 13/11/2020 | 10/05/2021 |
| Andreas Beroutsos | Board member | 26/11/2020 | 25/04/2023 |
| Mark Konrad | Director | 10/05/2021 | 30/04/2022 |
| David Peter Cogman | Board member | 26/11/2021 | 16/06/2023 |
Signing rule: Selskabet tegnes af: Bestyrelsens formand i forening med et medlem af bestyrelsen eller af Bestyrelsens formand i forening med et medlem af direktionen eller af Fire bestyrelsesmedlemmer i forening eller af To medlemmer af direktionen eller af Den samlede bestyrelse.
Address and production units
2 active production unitsKalvebod Brygge 43
1560 København V
| Production unit | Address | Employees | P number |
|---|---|---|---|
| Cadeler A/S | Kalvebod Brygge 43, 1560 København V | 509 | 1014112703 |
| Cadeler A/S | Havneparken 1, 7100 Vejle | – | 1031326245 |
Purpose
Selskabets formål er at drive rederivirksomhed og udvikle skibsprojekter.
The purpose is quoted from the register in Danish.
Changes year by year
128 registered events82015
102016
22017
72018
02019
162020
92021
102022
132023
112024
62025
62026
20266 changesownership 4 · accounts 1 · capital 1
- OwnershipLexcor Master Fund is no longer registered as owner
- AccountsAnnual report for 2025 published
- OwnershipScorpio Holdings Limited registered as owner (10%)
- OwnershipFolketrygdfondet is no longer registered as owner
- CapitalShare capital changed from 350,957,583 DKK to 386,053,341 DKK
- OwnershipScorpio Holdings Limited is no longer registered as owner
20256 changesownership 5 · accounts 1
- OwnershipBW Altor Pte. Ltd. registered as owner (25%)
- OwnershipBW Altor Pte. Ltd. is no longer registered as owner
- OwnershipLexcor Master Fund registered as owner (5%)
- AccountsAnnual report for 2024 published
- OwnershipBW Altor Pte. Ltd. registered as owner (20%)
- OwnershipBW Altor Pte. Ltd. is no longer registered as owner
202411 changesownership 2 · management 5 · capital 2 · accounts 1 · address 1
- OwnershipFolketrygdfondet registered as owner (5%)
- ManagementThomas Thune Andersen appointed board member
- CapitalShare capital changed from 350,929,868 DKK to 350,957,583 DKK
- OwnershipSwire Pacific Limited is no longer registered as owner
- AccountsAnnual report for 2023 published
- ManagementColette Brigid Cohen appointed board member
- ManagementJesper Teddy Lok stepped down as board member
- ManagementJaime Nish appointed board member
- ManagementEmanuele Lauro appointed deputy chair
- AddressMoved to Kalvebod Brygge 43, 1560 København V
- CapitalShare capital changed from 311,409,868 DKK to 350,929,868 DKK
202313 changesownership 7 · capital 1 · management 4 · accounts 1
- OwnershipBW Altor Pte. Ltd. registered as owner (15%)
- OwnershipSwire Pacific Limited registered as owner (5%)
- OwnershipScorpio Holdings Limited registered as owner (5%)
- OwnershipNordea Funds Ltd is no longer registered as owner
- OwnershipHandelsbanken Fonder AB is no longer registered as owner
- OwnershipSwire Pacific Limited is no longer registered as owner
- OwnershipBW Altor Pte. Ltd. is no longer registered as owner
- CapitalShare capital changed from 197,600,000 DKK to 311,409,868 DKK
- ManagementDavid Peter Cogman stepped down as board member
- ManagementConnie Hedegaard Koksbang stepped down as board member
- AccountsAnnual report for 2022 published
- ManagementAndrea Abt appointed board member
- ManagementAndreas Beroutsos stepped down as board member
202210 changescapital 2 · management 2 · accounts 1 · ownership 5
- CapitalShare capital changed from 164,750,000 DKK to 197,600,000 DKK
- ManagementPeter Brogaard Hansen appointed director
- CapitalShare capital changed from 138,574,468 DKK to 164,750,000 DKK
- ManagementMark Konrad stepped down as director
- AccountsAnnual report for 2021 published
- OwnershipSwire Pacific Limited registered as owner (15%)
- OwnershipSwire Pacific Offshore Operations (Pte) Ltd is no longer registered as owner
- OwnershipSwire Pacific Offshore Operations (Pte) Ltd registered as owner (20%)
- OwnershipNordea Funds Ltd registered as owner (5%)
- OwnershipSwire Pacific Offshore Operations (Pte) Ltd is no longer registered as owner
20219 changesmanagement 6 · accounts 1 · ownership 1 · capital 1
- ManagementDavid Peter Cogman appointed board member
- ManagementRoy George Shearer stepped down as board member
- AccountsAnnual report for 2020 published
- ManagementMark Konrad appointed director
- ManagementMark Konrad stepped down as director
- OwnershipHandelsbanken Fonder AB registered as owner (5%)
- CapitalShare capital changed from 115,574,468 DKK to 138,574,468 DKK
- ManagementAndreas Sohmen-Pao appointed chair of the board
- ManagementRichard Lawrence Sell stepped down as chair of the board
202016 changesmanagement 9 · ownership 3 · capital 2 · name 1 · address 1
- ManagementAndreas Beroutsos appointed board member
- OwnershipBW Altor Pte. Ltd. registered as owner (25%)
- OwnershipSwire Pacific Offshore Operations (Pte) Ltd registered as owner (25%)
- OwnershipSwire Pacific Offshore Operations (Pte) Ltd is no longer registered as owner
- CapitalShare capital changed from 78,000,000 DKK to 115,574,468 DKK
- ManagementMark Konrad appointed director
- ManagementMartin Møller Olesen stepped down as director
- NameName changed from SWIRE BLUE OCEAN A/S to Cadeler A/S
- ManagementConnie Hedegaard Koksbang appointed board member
- ManagementDitlev Gustav Wedell-Wedellsborg appointed board member
- ManagementJesper Teddy Lok appointed board member
- ManagementMikkel Gleerup stepped down as board member
- ManagementMartin Møller Olesen stepped down as board member
- ManagementBrian Townsley stepped down as board member
- CapitalShare capital changed from 780,000 DKK to 78,000,000 DKK
- AddressMoved to Arne Jacobsens Allé 7, 7, 2300 København S
20187 changesmanagement 6 · address 1
- ManagementRichard Lawrence Sell appointed chair of the board
- ManagementRoy George Shearer appointed board member
- ManagementSeng Yum Ronald Tham stepped down as board member
- ManagementRupert Peter Napier Bray stepped down as chair of the board
- AddressMoved to Arne Jacobsens Allé 7, 7, 2300 København S
- ManagementMikkel Gleerup appointed board member
- ManagementMikkel Gleerup appointed ceo
20172 changesmanagement 2
- ManagementLars Nørgaard Blicher stepped down as board member
- ManagementLars Nørgaard Blicher stepped down as director
201610 changesmanagement 10
- ManagementSeng Yum Ronald Tham appointed board member
- ManagementRobert Amyon John Templeman Chaffey stepped down as board member
- ManagementSeng Yum Ronald Tham appointed board member
- ManagementSeng Yum Ronald Tham stepped down as board member
- ManagementRobert Amyon John Templeman Chaffey appointed board member
- ManagementRobert Amyon John Templeman Chaffey stepped down as board member
- ManagementMartin Møller Olesen appointed director
- ManagementRikke Vallentin Stoltz stepped down as director
- ManagementMartin Møller Olesen appointed board member
- ManagementRikke Vallentin Stoltz stepped down as board member
20158 changesmanagement 8
- ManagementRupert Peter Napier Bray appointed chair of the board
- ManagementRonald James Mathison stepped down as chair of the board
- ManagementRupert Peter Napier Bray stepped down as board member
- ManagementRupert Peter Napier Bray appointed board member
- ManagementRobert Amyon John Templeman Chaffey appointed board member
- ManagementRonald James Mathison appointed chair of the board
- ManagementNeil Francis Glenn stepped down as chair of the board
- ManagementNigel Llewelyn Gribble stepped down as board member
20114 changesmanagement 2 · address 1 · industry 1
- ManagementNeil Francis Glenn appointed chair of the board
- ManagementBrian Townsley appointed board member
- AddressMoved to Ørestads Boulevard 73, 9, 2300 København S
- IndustryIndustry changed to Sea and coastal freight water transport (502000)
201012 changesmanagement 10 · name 1 · ownership 1
- ManagementNigel Llewelyn Gribble appointed board member
- ManagementNigel Llewelyn Gribble appointed director
- ManagementNigel Llewelyn Gribble stepped down as director
- ManagementNgan Yee Lung stepped down as board member
- NameName changed from BLUE OCEAN SHIPS A/S to SWIRE BLUE OCEAN A/S
- ManagementRikke Vallentin Stoltz appointed board member
- ManagementNgan Yee Lung appointed board member
- ManagementRikke Vallentin Stoltz appointed director
- ManagementPalle Nørgaard stepped down as board member
- ManagementPeter Høstgaard-Jensen stepped down as chair of the board
- ManagementTage Benedikt Bundgaard stepped down as board member
- OwnershipSwire Pacific Offshore Operations (Pte) Ltd registered as owner (100%)
20092 changesaddress 1 · management 1
- AddressMoved to Korskildelund 6, 2670 Greve
- ManagementLars Nørgaard Blicher appointed board member
200812 changesaddress 1 · capital 1 · management 8 · industry 1 · founded 1
- AddressMoved to Kystvejen 40, 2, 2770 Kastrup
- CapitalShare capital changed from 500,000 DKK to 780,000 DKK
- ManagementPalle Nørgaard appointed board member
- ManagementPeter Høstgaard-Jensen appointed chair of the board
- ManagementTage Benedikt Bundgaard appointed board member
- ManagementJørgen Victor Amorim stepped down as board member
- ManagementAnders Retz Johansson stepped down as board member
- IndustryIndustry changed to Virksomhedsrådgivning og anden rådgivning om driftsledelse (702200)
- FoundedRegistered as BLUE OCEAN SHIPS A/S
- ManagementLars Nørgaard Blicher appointed director
- ManagementJørgen Victor Amorim appointed board member
- ManagementAnders Retz Johansson appointed board member
Related companies
Same industry in København
- Rederiet A. P. Møller A/S5,551 employees
- DOF Denmark A/S337 employees
- Maersk Offshore Wind A/S113 employees
- Maersk Tankers A/S97 employees
- Clipper Bulk A/S65 employees
- Malt Lng Holdings ApS64 employees
Same people in management
- Danish Crown A/Svia Jesper Teddy Lok
- Siemens Gamesa Renewable Energy A/Svia Palle Nørgaard
- Dagrofa ApSvia Jesper Teddy Lok
- Danfoss A/Svia Connie Hedegaard Koksbang
- Aktieselskabet Th. Wessel & Vett. Magasin Du Nordvia Ditlev Gustav Wedell-Wedellsborg
- Dagrofa Foodservice A/Svia Jesper Teddy Lok
Largest in the industry
- Unifeeder A/SDKK 554.1m
- Royal Arctic Line A/SDKK 512.4m
- Torm A/SDKK 388m
- NCT Offshore A/SDKK 315m
- DOF Denmark A/SDKK 205.4m
- Rederiet M.h.simonsen ApSDKK 198.3m
Source and updates
The information comes from the Danish Central Business Register (Danish Business Authority) and from annual reports filed with the Danish Business Authority. Last synchronised 23/10/2026.