Daldrup & Söhne : & Söhne AG with operationally successful business year 2020

DGAP-News: Daldrup & Söhne AG / Key word(s): Annual Results/Forecast 01.06.2021 / 07:00 The issuer is solely responsible for the content of this announcement. CORPORATE NEWS Daldrup & Söhne AG with operationally successful business year 2020 - Total output increases by 13.7 % to 47.5 million euros - EBIT significantly improved to +1.9 million euros after EBIT loss of 10.0 million euros in the previous year - As of end of April 2021, order backlog of Euro 24.3 million and promising order pipeline of Euro 94.6 million - Forecast 2021: Total output of 43 million euros, EBIT margin 2 % to 4% Oberhaching / Ascheberg, 1 June 2021 - In an environment marked by the Corona pandemic, drilling technology and geothermal specialist Daldrup & Söhne AG (ISIN DE0007830572) benefited from brisk demand for its services in the 2020 financial year. As a result, the Daldrup Group increased its total output by a pleasing 13.7% to Euro 47.5 million (previous year Euro 41.8 million), thus exceeding its forecast (around Euro 40 million). At 26.2 million euros, turnover from invoiced orders was above the previous year's value (24.8 million euros). Group EBIT, calculated according to the German Commercial Code (HGB), also improved significantly to +1.9 million euros after -10.0 million euros in the previous year. Non-operating write-downs on the receivables from the companies of the Geysir Europe Group, which were sold at the beginning of 2020 (see ad-hoc and CN of 11 February 2021) and now have to be reported under financial assets, nevertheless led to a consolidated net loss of 5.2 million euros in the reporting year (previous year's net loss 12.3 million euros). The loss per share (EPS) thus amounts to 0.87 euros (previous year's loss 2.06 euros). Debt reduced as planned / liquidity improved As announced on 11 February 2021, the equity ratio in the Group is a comfortable 47.3 % of the balance sheet total (previous year 50.3 %). Overall, the debt reduction of the Daldrup Group was consistently continued in the reporting year and liabilities were significantly reduced to 19.0 million euros (previous year 21.2 million euros). Interest-bearing liabilities to banks were reduced as planned to Euro 7.7 million (previous year Euro 8.7 million). As of the balance sheet date, receivables from customers and cash and cash equivalents increased significantly to Euro 4.0 million (previous year Euro 2.4 million) and Euro 3.0 million (previous year Euro 2.7 million) respectively. Trade payables were significantly reduced from 6.9 million euros in the previous year to 5.2 million euros, despite an increase in total output. Executive Board confident for the 2021 financial year With the sale of the Group subsidiary Geysir Europe GmbH including its holdings in the geothermal power plants Taufkirchen and Landau, which was completed in January 2020, Daldrup & Söhne AG used the financial and operational room for manoeuvre it gained in the reporting year to strengthen its resources in the drilling business and drive forward its realignment. The aim is to increase efficiency and the quality of results on a permanent and business-specific basis. The order backlog of 24.3 million euros at the end of April 2021 is already utilising the production capacities for the 2021 financial year. Individual larger orders extend far into the 2022 financial year. The order pipeline of 94.6 million euros also signals a continued vital interest in the services of the Daldrup Group. The Executive Board is confident that it will be able to convert parts of the order pipeline into further orders for all business areas. The Executive Board is confident that significant parts of the order pipeline, be it exploratory drilling for the storage of radioactive waste, be it old mine safety measures, will be converted into further orders. Interest in larger geothermal projects in the Molasse area near Munich or in northern Germany for heat supply also remains high. For the current financial year 2021, the Executive Board expects a Group total operating performance of around €43 million and an operating positive EBIT margin of between 2 % and 4 %. Despite the pleasing development of the company and the positive outlook, the Executive Board cannot rule out the possibility that the possible effects of a persistent or worsening corona pandemic in the current year will have a negative impact on the development of sales and earnings. Note The Annual Report 2020 is available for download at https://daldrup.eu/de/ir/ under Company Reports 2021. About Daldrup & Söhne AG Daldrup & Söhne AG (ISIN: DE0007830572, WKN: 783057) with a corporate history spanning more than 70 years is a specialist provider of drilling and environmental services and ranks as one of the leading companies in Germany. Its activities are divided into the business divisions Geothermics, Raw Materials & Exploration, Water Extraction as well as Environment, Development & Services (EDS). The Geothermics business division provides drilling services for near-surface geothermics (especially geothermal probes of heat pumps), along with drilling services for deep geothermics up to 6000 m, in order to utilise the geothermal energy accessible in this way for electricity and/or heat generation. In the Raw Materials and Exploration business division, the bores made by Daldrup & Söhne AG serve for exploring and developing fossil fuel deposits (especially coal and gas) as well as mineral resources and ores (e.g. copper and gold). The Water Extraction business division comprises well construction for the extraction of drinking, service, curative, mineral, boiler-feed or cooling water as well thermal brine. The Environment, Development & Services (EDS) business division comprises special environmental engineering services such as the hydraulic clean-up of contaminated sites, the drilling of gas extraction wells for recovering waste dump gas, the provision of groundwater quality measuring points or the installation of water purification plants. The shares of Daldrup & Söhne AG are listed in the Scale (sub-segment in the open market of the Frankfurt Stock Exchange). Disclaimer This publication represents neither an offer for sale nor a call to submit a tender for the purchase or underwriting of securities. This publication and the information it contains is not intended for direct or indirect dissemination in or within the United States of America ("USA"), Canada, Australia or Japan. Press & Investor Relations contact Daldrup & Söhne AG Falk v. Kriegsheim Fon [phone] Fax [phone] Bajuwarenring 17a [e-mail] 82041 Oberhaching www.daldrup.eu 01.06.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language:	English
Company:	Daldrup & Söhne AG
Bajuwarenring 17a
82041 Oberhaching
Germany
Phone:	+49 (0) 89 / 45 24 37 920
Fax:	-
E-mail:	[e-mail]
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:	1202858

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