Daldrup & Söhne AG Increases EBIT by 42.6% in 2023

Oberhaching/Ascheberg, June 3, 2024 – Daldrup & Söhne AG, a specialist in drilling technology and geothermal energy, reported a 42.6% increase in EBIT for 2023, reaching EUR 2.6 million compared to EUR 1.8 million the previous year. The EBIT margin stood at 5.3%, surpassing forecasts.

The company’s total output reached EUR 48.4 million, 18% above the forecasted EUR 41 million. Consolidated sales rose to EUR 49.1 million from EUR 38.2 million in 2022. The order backlog was EUR 38.5 million, with a relevant market volume of EUR 260 million. Net income grew to EUR 890 thousand, slightly up from EUR 852 thousand in the prior year, resulting in earnings per share of EUR 0.15.

Daldrup & Söhne AG benefitted from technical innovations and investments in their equipment fleet, contributing to increased efficiency and profitability. The ongoing decarbonization of the heat supply sector highlighted the importance of geothermal energy, further benefitting the company's market position.

The Management Board remains optimistic for 2024, aiming for total revenues of around EUR 47 million and an EBIT margin between 5% and 7%. The high order backlog and market volume under negotiation enhance their confidence in future growth.