EQS-News: Daldrup & Söhne AG
/ Key word(s): Half Year Results/Half Year Report
CORPORATE NEWS
Daldrup & Söhne AG doubles EBIT in H1 2024
Oberhaching / Ascheberg, 1 October 2024 - The drilling technology and geothermal specialist Daldrup & Söhne AG (ISIN DE0007830572) achieved a total performance of EUR 29.1 million (previous year EUR 24.1 million) at the group level in the first half of 2024. The group improved its half-year earnings before interest, taxes, depreciation and amortisation (EBITDA) as of 30 June to EUR 3.8 million (EUR 2.7 million). Daldrup achieved earnings before interest and taxes (EBIT) at group level of EUR 3.0 million (EUR 1.4 million), which corresponds to a margin of 10.2 % (5.9 %) in relation to total output. Consolidated net income (EAT) for the first half of the year amounted to EUR 2.0 million (EUR 0.7 million), equivalent to earnings per share (EPS) of 34 cents (12 cents).
Despite the generally weak economic environment, the first half of 2024 was again characterised by positive operational development in all business areas for Daldrup & Söhne AG. In the context of the heating energy transition, the development of geothermal heat sources will continue to be an important solution component. This means that the drilling services provided by Daldrup & Söhne AG occupy a key position. The half-year result shows once again that the operating profitability of the Daldrup Group has been sustainably strengthened. The company is therefore convinced that it will be able to participate in the structural growth of the attractive geothermal energy market in the coming years from a good competitive position and with a focus on profitability.
Andreas Tönies, CEO of Daldrup & Söhne AG, comments on the market development: ‘The demand for our drilling services for geothermal projects for heat supply is increasing noticeably. For the coming quarters, we expect further improvements in the regulatory environment. These include a state-guaranteed exploration insurance for the first well of a geothermal project and the law to accelerate the approval of geothermal plants, heat pumps and heat storage. It assigns ‘overriding public interest’ to geothermal energy and simplifies the approval processes. These are further important steps towards being able to exploit the potential of geothermal energy for climate-neutral heat supply in Germany much more quickly. In our experience, a typical medium-depth geothermal project can be realised within two years from the exploration permit to the commissioning of a heating plant. This is the benchmark that policymakers and companies should implement together.’
Executive Board confirms raised forecast for financial year 2024
Note The published consolidated half-year report as of 30 June 2020 with further details on the business and earnings performance, as well as the research reports from SMC Research, Quirin and Pareto, are available for download at www.daldrup.eu under Investor Relations.
About Daldrup & Söhne AG Daldrup & Söhne AG (ISIN: DE0007830572, WKN: 783057) with a company history of more than 75 years is a specialised provider of drilling and environmental services and is positioned among the leading companies in Germany. Its activities are divided into the business areas Geothermal, Resources & Exploration, Water Extraction and Environment, Development & Services (EDS). In the Geothermal Energy business sector, drilling services are provided both for near-surface geothermal energy (especially geothermal probes for heat pumps), but above all also drilling services for deep geothermal energy of up to 6,000 m, in order to use the geothermal energy thus accessible for the generation of electricity and/or heat. In the Raw Materials and Exploration business sector, the wells drilled by Daldrup & Söhne AG are used for exploration as well as mineral raw materials and ores (e.g. copper and gold). This division also provides drilling services in the context of finding a safe final repository for nuclear waste. The Water Extraction business area includes well construction for the extraction of drinking, industrial, medicinal, mineral, boiler feed or cooling water as well as thermal brine. The business area Environment, Development & Services (EDS) comprises special environmental engineering services such as the hydraulic remediation of contaminated sites, the construction of gas extraction wells for the extraction of landfill gas, the construction of groundwater quality measuring points or the construction of water purification plants.
The shares of Daldrup & Söhne AG are listed in the Scale (sub-segment of the Open Market of the Frankfurt Stock Exchange) and part of the Scale30 Index.
Disclaimer This publication constitutes neither an offer to sell nor a solicitation of an offer to buy or subscribe for securities. This publication and the information contained therein are not intended for direct or indirect distribution in or within the United States of America ("USA"), Canada, Australia or Japan.
Presse- & Investor Relations Contact Daldrup & Söhne AG Falk von Kriegsheim Fon +49 (0)2593-9593-29 Fax +49 (0)2593-9593-60 Bajuwarenring 17a ir@daldrup.eu 82041 Oberhaching www.daldrup.eu
01.10.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Daldrup & Söhne AG |
Bajuwarenring 17a | |
82041 Oberhaching | |
Germany | |
Phone: | +49 (0) 89 / 45 24 37 920 |
Fax: | - |
E-mail: | ir@daldrup.eu |
Internet: | www.daldrup.eu |
ISIN: | DE0007830572 |
WKN: | 783057 |
Indices: | Scale 30 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1998861 |
End of News | EQS News Service |
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1998861 01.10.2024 CET/CEST
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