Slide 1: Investor Presentation Interim Report 1 January – 30 June 2022
Investor Presentation Interim Report 1 January – 30 June 2022 23 August 2022
Slide 2: Disclaimer
Disclaimer THIS PRESENTATION (THE "PRESENTATION") HAS BEEN PREPARED BY CADELER A/S (THE "COMPANY") EXCLUSIVELY FOR INFORMATION PURPOSES, IS STRICTLY CONFIDENTIAL AND MAY NOT BE REPRODUCED OR REDISTRIBUTED, IN WHOLE OR IN PART, TO ANY OTHER PERSON. THE PRESENTATION DOES NOT CONSTITUTE AN OFFERING OF
Slide 3: Agenda
Agenda 1. Cadeler highlights during H1 2022 2. Financial Results 3. Building the future on a strong foundation 4. Q & A 3
Slide 4: Highlights during H1 2022
Highlights during H1 2022
Slide 5: Strong backlog additions for the years to come
Strong backlog additions for the years to come Vestas A Vestas Siemens Scottish Power Renewables Baltic Power Ørsted A series of assignments in He1Dreiht Title Moray West East Anglia Hub New market Hornsea Three the North Sea O-class vessels O-class O-class O and X-class O-class vessel F-class By en
Slide 6: Adding a new vessel to the growing fleet
Adding a new vessel to the growing fleet Financial highlights: 30 March 2022 • Dialogue started with Ørsted 5 May 2022 • Private Placement to raise funds for the first F-class vessel in the industry (86m EUR) 9 May 2022 • Signing of contract (345 m USD) (Option for an additional X or F-class vessel)
Slide 7: The first hybrid F-class in the Cadeler fleet
The first hybrid F-class in the Cadeler fleet • High flexibility and wide scope based on X-class specifications • Hybrid vessel for T&I of both foundations and WTGs • Can transport up to six XL Monopile foundations per round-trip The result: the largest and most capable jack-up vessel in the offshor
Slide 8: Cadeler F-Class and X-Class facts
Cadeler F-Class and X-Class facts: F-class X-class Main crane capacity Bigger than X-class 2,600 t @ 46 m Hook height above deck Over 200 m Over 200 m Variable Load > 17,600 t > 17,600 t Deck space 5,600 m2 5,600 m2 Accommodation 130 persons 130 persons 8 Confidential
Slide 9: Financial Results
Financial Results
Slide 10: Financial highlights for the Group - Continued growth
Financial highlights for the Group - Continued growth COMMENTS ▪ Performance in H1 2022 was good and within guidance despite upstream delays in the Seagreen project ▪ Revenue up with 33% and EBITDA up with 48% ▪ Strong profit for the H1 2022 and better than full year 2021 ▪ Cash in-flow from operati
Slide 11: Revenue performance - Market improvement
Revenue performance - Market improvement COMMENTS ▪ Wind Orca was under planned maintenance for the first quarter of 2022, which resulted in 74% utilization for both vessels combined during H1 2022, compared to 87% in H1 2021. ▪ Market rates have increased significantly in H1 2022 as compared to H1
Slide 12: 2022 Full Year Guidance - Narrowed Range
2022 Full Year Guidance - Narrowed Range COMMENTS ▪ H1 2022 ended within expectations. Current upstream delays on projects in execution leads to rephasing of revenue and narrowing of 2022 H1 2021 FY the guidance. EUR millions Interim report Annual Report ▪ Revenue in H2 2022 is expected in the range
Slide 13: Building the future on a strong foundation
Building the future on a strong foundation
Slide 14: Acute global focus on renewable energy and energy security
Acute global focus on renewable energy and energy security • Macroeconomic situation has increased focus on alternative energy sources • EU Strategy to harness the potential of offshore renewable energy for a climate neutral future • MEP adopt proposal to speed up the expansion of offshore wind ener
Slide 15: Market outlook WTIVs – supply & demand imbalance in 2026-2030
Market outlook WTIVs1 – supply & demand imbalance in 2026-2030 WTIVs1 supply & demand 2026-30, Global ex. China Demand scenarios for WTIVs 2026-30, Global ex. China # vessels Possible scenario 2026-30 Unit Low Mid High Comment 30 Installed capacity p.a. (avg.) GW 28 28 28 GWEC Average turbine size M
Slide 16: Improving prospects for high yield contracts
Improving prospects for high yield contracts A look into the Technical Sales Calendar – Mar/Apr 2020 vs. Mar/Apr 2021 vs. Mar 20221 Projects in active tender: ➢ Up 67% from March 2022 ➢ Larger scope and project sizes ➢ Projects across different regions ➢ Higher value ➢ Portfolio view 1 Relative proj
Slide 17: Widening our business scope to meet future demands
Widening our business scope to meet future demands • Vertical and horizontal expansions • Organic and inorganic growth • Regional expansion • Strategic partnerships • Increased portfolio of services • T&I services vs. day rate contracts • Floating wind • Portfolio view 17
Slide 18: /CADELER
/CADELER
Slide 19: With every wind turbine, a new step forward
With every wind turbine, a new step forward
Slide 20: Cadeler contact details
Cadeler Fairway House Arne Jacobsens Allé 7 DK–2300 Copenhagen S Denmark +45 3246 3100 Follow us Instagram / Twitter / LinkedIn