Daldrup & Söhne AG publishes its 2025 consolidated financial statements, reports significant increase in profitability and expects further growth

Daldrup & Söhne AG publishes its 2025 consolidated financial statements, reports significant increase in profitability and expects further growth

• Total output reaches EUR 51.1 million (2024: EUR 54.5 million)
• EBIT increases by 25.8 % to EUR 8.7 million (2024: EUR 6.9 million)
• EBIT margin* rises to 17.1 % (2024: 12.7%)
• Free cash flow amounts to EUR 5.2 million (2024: EUR 9.7 million)
• Order backlog at the end of March 2026 at EUR 120 million (March 2025: EUR 31 million)
• Forecast for 2026: total output of approximately EUR 58 million and EBIT margin* between 11.5 % and 13.5 %

Pullach / Ascheberg, 1 June 2026 – Daldrup & Söhne AG (“Daldrup”, “Daldrup & Söhne”) (ISIN DE0007830572) reports a satisfactory financial year 2025 in which all profitability indicators were significantly improved laying the basis for further growth. This is shown in the recently published 2025 Annual Report, which largely confirms the preliminary figures previously reported.

“The continued improvement in profitability, with an EBIT margin* of 17,1 percent, reflects the operational strength of Daldrup & Söhne AG’s business model and the successful project execution,” says Andreas Tönies, CEO of Daldrup & Söhne AG.

Total output of the drilling technology and geothermal specialist amounted to EUR 51,1 million (2024: EUR 54.5 million), slightly below the forecast of around EUR 52 million. The deviation was driven by the postponement of the start of drilling for the Pullach geothermal project to 2026.

The Group’s earnings before interest, taxes, depreciation and amortisation (EBITDA) increased to EUR 10,6 million in the reporting year (2024: EUR 8.5 million). At the same time, EBIT rose by 25,8 % to EUR 8.7 million (2024: EUR 6.9 million), resulting in an EBIT margin relative to total output of 17,1 percent (2024: 12.7 percent). As already published at the end of March 2026 based on preliminary figures, Daldrup & Söhne AG thus significantly exceeded its EBIT margin* guidance of 10 to 12 percent, which was updated on 28 August 2025.

The consolidated net income increased by 211 % to EUR 7,7 million in the reporting year (2024: EUR 2.5 million), resulting in earnings per share (EPS) of EUR 1.29 in 2025 (2024: EUR 0.42). The Group’s equity ratio remains comfortably solid at 65.3 percent (2024: 68.8 percent). Free cash flow amounted to EUR 5.2 million in 2025 (2024: EUR 9.7 million), while investments were significantly increased compared to the previous year. As of the reporting date, Daldrup & Söhne AG also reports a strong cash position of approximately EUR 13 million (2024: EUR 6.4 million).

Capacity utilization at a high level

Daldrup & Söhne AG recorded very strong demand in the 2025 financial year, which picked up noticeably in the second half of the year. This development was supported in particular by the KfW Geothermal Energy Promotional Loan (Programme 572), which mitigates exploration risk in geothermal drilling and was still in the implementation phase at the time. In addition, expectations that the Geothermal Acceleration Act (GeoBG) would enter into force in 2025 provided further support.  As a result, the Company’s order backlog reached a new record level of EUR 128 million as of 31 December 2025.

Investments to strengthen the core business

In the 2025 financial year, Daldrup & Söhne AG continued to expand its drilling rig fleet in order to meet rising demand, particularly in the geothermal energy and raw materials & exploration segments. The Company invested a total of EUR 5.7 million (2024: EUR 4.1 million) in equipment, replacement investments and the expansion of its fleet to 54 drilling rigs. This also included the acquisition of two new drilling rigs (Bauer RB 65) and five used Bauer drilling rigs (Bauer RB 50, RB 40 and RB 25) for medium-depth geothermal projects, exploration activities and well construction at depths ranging from 400 metres to 1,500 metres.

Regulatory reforms strengthen growth momentum

The German geothermal market has benefited from significantly improved regulatory conditions since December 2025. Key impetus has been provided by the Geothermal Acceleration Act (GeoBG), adopted by the German Bundestag on 18 December, as well as the KfW Geothermal Energy Promotional Loan (Programme 572) with integrated exploration risk insurance, which was launched on 4 December. The GeoBG simplifies and accelerates planning and approval procedures for geothermal projects, while the KfW promotional loan comprehensively mitigates risks associated with geothermal drilling. Against this backdrop, an increasing number of municipalities and cities are moving from the planning phase to the implementation phase of their heat planning and are launching concrete tenders for geothermal projects. Daldrup & Söhne AG therefore expects rising demand for medium-depth and deep geothermal projects in the short to medium term.

In addition, the special infrastructure fund of up to EUR 500 billion adopted by the German federal government creates additional financial scope for long-term investments in Germany. It supports both the modernisation of traditional infrastructure, such as transport infrastructure and bridge construction, as well as the expansion of energy and climate infrastructure.

Management Board with positive outlook for 2026

“The order situation of Daldrup & Söhne AG continues to develop positively,” states Tönies. As of 30 March 2026, the order backlog amounts to EUR 120 million (previous year: EUR 31 million), meaning that the Company’s drilling crews and rigs are, on a calculated basis, effectively fully utilised well into 2027. At the same time, the processed market volume** relevant to Daldrup & Söhne AG stood at EUR 380 million as of March 2026 (previous year: EUR 405 million), remaining at a very high level. Against this backdrop, the Management Board of Daldrup & Söhne AG expects, assuming business develops as planned, Group total output of around EUR 58 million in 2026. In addition, it forecasts an EBIT margin of between 11.5 % and 13.5 % of total output for the operating business.

*In relation to total output
**The relevant addressable market volume, weighted by probabilities, representing potential future order intake over the coming years

Notes

The 2025 Annual Report is available for download at https://daldrup.eu/en/ir/ under Company Reports 2026.

Upcoming IR roadshows / conferences / events

•    27 August 2026: Annual General Meeting
•    31 August / 1 September 2026: German Fall Conference 2026, Frankfurt
•    30 September 2026: Publication of the 2026 half-year consolidated financial report
•    23–25 November 2025: Deutsches Eigenkapitalforum, Frankfurt

About Daldrup & Söhne AG

Daldrup & Söhne AG (ISIN: DE0007830572, WKN: 783057) with a company history of 80 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.

Press & Investor Relations Contact

Daldrup & Söhne AG

Annette Kohler-Kruse / Frank Ostermair

Fon +49 (0) 2593 / 95 93 29
ir@daldrup.eu

Emil-Riedl-Weg 6
82049 Pullach i. Isartal
Germany

www.daldrup.eu