Investor Presentation
Demand outlook and activity remain strong
Demand growth remains high
c.43% annual global GW demand growth
(excl. China) 1
Backlog continues to strengthen²
Up c.67% in Q4 2023 (Єm)
+43%
36
30
30
71
+171%
1,099
192
+67%
1,832
498
19
15
16
505
1,334
406
96
907
96
6
6
4
409
310
2022A 2023E 2024E 2025E 2026E 2027E 2028E 2029E 2030E
2020
2021
2022
Oct-23
CADELER
ENETI
ENETI
CADELER
CADELER
⑬ENETI
ENETI
CADELER > ENETI
Project terms remain compelling³
Oct. 24, 2023 - Eneti Inc. Signs
Installation Contract for
newbuild WTIV
Oct. 18, 2023 Eneti Inc. Signs
Contract for Seajacks Scylla
Apr. 25, 2023 Cadeler signs
first foundation T&I contract
~$350k /
day
~$250k/
day
€500 -
700m
T&I
contract
1) Spinergie - www.spinergie.com 2) Calendar year-end unless stated otherwise, (2021) 11 Nov 2021 for Eneti, (2022) 2 Nov 2022 for Eneti, October 24 2023 for Cadeler and August 8 2023, adjusted for recently announced contracts for Eneti. Cadeler contract
backlog includes 100% options. Half-year reports only include 50%. Eneti backlog is after project costs and includes 100% options, and contribution from NG 2500s on historical figures 3) Based on estimated contract value $113-167m and 442-665 days, $72-85m
and 210-245 days for Scylla and newbuild WTIV, respectively. Source: Cadeler and Eneti filings.View entire presentation