Daldrup & Soehne AG

Latest Results (02.02.2026):

Daldrup & Söhne AG — Q4 2023 (full-year 2023): The company reported solid full-year 2023 results with total operating output of EUR 48.4 million, EBITDA of EUR 4.94 million and EBIT of EUR 2.59 million; consolidated net income was EUR 0.89 million. Revenue and operating profits rose year-on-year and management describes the result and balance sheet as comfortable heading into 2024 with a healthy equity ratio and a growing order backlog.

Key financials (FY 2023)

Total operating output: EUR 48,407k (+31.3% vs. 2022). EBITDA: EUR 4,939k (+16.9%). EBIT: EUR 2,586k (+42.6%). Group annual net income: EUR 890k (+4.5%). Total assets: EUR 41,549k (+5.2%).

Profitability and margins

Management reports an EBIT margin of approximately 5.3% of total gross revenue, above the prior forecast corridor. Earnings improved across the P&L, with EBIT notably up by 42.6% year-on-year.

Balance sheet and liquidity

Equity ratio stands at a robust 50.6% (2022: 49.7%), indicating solid capitalization. Management highlights a comfortable balance sheet while monitoring liquidity and conducting financing discussions where needed.

Order backlog and market outlook

Order backlog groupwide was reported at about EUR 38.5 million (March 2024), up from EUR 33.2 million (May 2023). Management cites a relevant market volume of approx. EUR 260 million (March 2024) and expects demand for geothermal projects to remain strong into 2025.

Operational highlights

2023 saw major drilling projects in Switzerland (exploratory and hydrogeothermal) and multiple projects in Germany (including sidetracks, research wells and drilling in Munich). The company invested in fleet and technical upgrades and increased headcount to an average 139 employees (2022: 125).

Guidance and strategy

For 2024 management targets total Group revenues of roughly EUR 47 million and an operating EBIT margin of 5–7% if business unfolds as planned. Strategy priorities include capacity availability, efficiency measures, workforce expansion and participation in the expected structural growth of geothermal energy.