Daldrup & Söhne : increases EBIT result in H1 2021

DGAP-News: Daldrup & Söhne AG / Key word(s): Half Year Results Daldrup & Söhne AG increases EBIT result in H1 2021 30.09.2021 / 06:55 The issuer is solely responsible for the content of this announcement. CORPORATE NEWS   Daldrup & Söhne AG increases EBIT result in H1 2021 - Total output of 22.9 million euros at previous year's level - EBIT of 611 TEUR 11 percent higher - Order situation satisfactory, orders on hand at 28 million euros - Solid equity ratio of 49.1 % (previous year 47.3 %) - Wolfgang Bosbach elected member of the supervisory board at the annual general meeting - Group forecast 2021 confirmed: total operating performance of around 43 million euros, operating profit margin (EBIT margin) of 2 % to 4 % of total operating performance Oberhaching / Ascheberg, 30 September 2021 - In the first half of 2021, the drilling technology and geothermal specialist Daldrup & Söhne AG (ISIN DE0007830572) achieved a total output of 22.9 million euros (previous year 23.2 million euros) at group level, which was at the same level as in the same period of the previous year. The Group's half-year earnings before interest, taxes, depreciation and amortisation (EBITDA) as at 30 June 2021 improved slightly to ?1.8 million (?1.7 million). At the operating level, the Group again achieved a positive result (EBIT) of EUR 611 thousand (EUR 549 thousand), an increase of around 11 percent. The group's half-year net income (EAT) amounted to 0.4 million euros (0.1 million euros). The renewed positive development in the Group in the first half of 2021 is, on the one hand, the result of a vital drilling business in all business areas and well-filled order books. On the other hand, the relieving effects of the sale of the Geysir Europe Group, which was completed in January 2020, are clearly evident. Thus, despite the unchanged lively order situation, the company again reduced liabilities by EUR 1.4 million as planned. Almost EUR 600 thousand was invested in the core business for new drilling rigs. The company is thus increasing the efficiency of its drilling activities - also against the background of continuing scarce personnel resources. The goal is to further improve the earnings situation and balance sheet ratios with targeted investments and a bundle of other measures. Commenting on the half-year results, Andreas Tönies, Spokesman of the Management Board, says: "Daldrup & Söhne AG is focusing its operating resources entirely on its core business with visible and measurable success. With further investments and the acquisition of lucrative orders, we want to further strengthen our earning power. In the medium term, the EBIT margin should be well above 5 percent. We are receiving tailwind from an unbroken brisk demand for exploratory drilling and drilling for geothermal power and heat projects in the DACH region. Thus, further geothermal projects in the Molasse Basin around Munich, in Munich itself, in the North German Plain, in Switzerland and in the Netherlands are in the starting blocks. The heat turnaround in particular secures an economically lucrative, structural growth market for geothermal energy in the medium term." Wolfgang Bosbach elected member of the Supervisory Board The Annual General Meeting of Daldrup & Söhne AG on 26 August 2021 approved the administration's proposal to elect Wolfgang Bosbach as the fourth member of the Supervisory Board by a large majority. Prior to this, the shareholders approved the amendment to the Articles of Association, according to which the company's Supervisory Board should no longer consist of three, but of four members. Wolfgang Bosbach (69) was a member of the German Bundestag for over 20 years. From February 2000 to November 2009, he was deputy chairman of the CDU parliamentary group in the Bundestag, and from November 2009 to September 2015, he was chairman of the parliamentary interior committee. In addition to his legal expertise, Wolfgang Bosbach has an active network in politics and business. Order backlog of 28 million euros ensures capacity utilisation until well into 2022 The order situation in all business areas of Daldrup & Söhne AG remains satisfactory. The order books are well filled: At the end of August 2021, the order backlog reached 28 million euros. This means that the drilling business is mathematically working to capacity until well into 2022. The market volume of around EUR 83 million relevant to Daldrup, assessed with probabilities of occurrence as a prospect of possible order backlogs in the coming quarters, also points to an overall continued satisfactory business environment in the coming months. Board of Management confirms forecast for the 2021 financial year Assuming that the Covid 19 pandemic does not worsen again in the markets relevant to Daldrup & Söhne AG and that there are no supply bottlenecks or construction site closures, and that the current deep wells can be settled as planned by the end of the year, the Managing Board confirms the Group's forecast for the 2021 financial year: given the current order situation and continued utilisation of crews and drilling rigs, the Managing Board expects to achieve a total output of around EUR 43 million with an operating EBIT margin of between 2% and 4%. Note: Further details can be found in the published consolidated half-year report as at 30 June 2021, which is available for download at www.daldrup.eu under Investor Relations / 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 30.09.2021 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:	1236983

End of News	DGAP News Service

1236983  30.09.2021