EQS-News: Daldrup & Söhne AG generates EBIT margin of 10.3% in H1 2024 and raises annual forecast
EQS-News: Daldrup Söhne AG
/ Key word(s): Change in Forecast
CORPORATE NEWS
Daldrup Söhne AG generates EBIT margin of 10.3% in H1 2024 and raises annual forecast
Oberhaching / Ascheberg, 29 August 2024 - According to preliminary, unaudited figures, Daldrup Söhne AG (ISIN DE0007830572), the drilling technology and geothermal specialist, generated total output of EUR 29.1 million in the first half of 2024 (as at 30 June). This corresponds to an increase of 20.8% compared to the first half of the previous year. The EBIT margin reached a value of around 10.3% (previous year: 5.9%). Group EBIT amounts to around EUR 3 million and is thus 110 per cent higher than in the previous year. The Executive Board is raising its forecast for the 2024 financial year due to the good performance of the drilling business and a dynamic market development driven by municipal heating planning: Total operating performance is expected to reach around EUR 50 million (previously: EUR 47 million). The Executive Board expects the EBIT margin to be between 7% and 9% (previously: 5% to 7%) of total operating performance.
CEO Andreas Tönies on raising the forecast: ‘Our confidence is based on continued good demand and a large number of measures with which we have streamlined our operating business in the last two years and made it significantly more efficient. We have also been able to reduce our risk exposure in the drilling business. The resulting effects will have a sustained positive impact on the earnings margin.’
High order backlog and improved regulatory framework With a solid order backlog of EUR 34 million and a record-high order potential of EUR 297 million at the end of August, drilling teams and drilling rigs are fully utilised well into 2025. Further tailwind for the geothermal market in Germany comes in the form of federal funding for efficient heating networks (BEW), municipal heating planning and a draft bill for a Geothermal Acceleration Act (GeoWG), which has been before the federal government since the end of June. Among other things, the draft provides for geothermal energy to be recognised as being in the ‘overriding public interest’. Fixed deadlines for authorities, the digitalisation of permit applications and the possibility of an early project start are also stipulated. Work on models for state-backed exploration insurance is also taking on a more concrete form. Overall, Daldrup Söhne AG believes that the full potential of geothermal energy to cover Germany's climate-neutral heating requirements can be tapped much more quickly.
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 Falk von Kriegsheim Fon +49 (0)2593-9593-29 Fax +49 (0)2593-9593-60 Bajuwarenring 17a [email protected] 82041 Oberhaching www.daldrup.eu Contact: Daldrup Söhne AG Falk v. Kriegsheim Fon +49 (0)2593-9593-29 [email protected] www.daldrup.eu Bajuwarenring 17a 82041 Oberhaching
29.08.2024 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: | [email protected] |
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: | 1977189 |
End of News | EQS News Service |
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1977189 29.08.2024 CET/CEST