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Daldrup & Söhne (4DS) investor relations material
Daldrup & Söhne H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong growth in H1 2026 with total output up 56.3% year-over-year to €32.3m, driven by high demand across all four business segments.
EBIT rose 29.3% to €3.43m, with an EBIT margin of 10.6% (down from 12.8% in H1 2025) due to safety deductions and investments in equipment.
Order backlog at end of August 2026 was €132m, ensuring capacity utilization into 2027; relevant market volume reached €371m.
Five used drilling rigs acquired to expand capacity, especially for mid/deep geothermal and exploration projects.
Dividend for FY 2025 increased by 20% to €0.18 per share.
Financial highlights
Revenue rose to €24.1m (H1 2025: €10.8m); total output €32.3m (H1 2025: €20.7m).
EBITDA increased 28.7% to €4.5m; net income up 37% to €2.94m.
Material costs rose 107% to €15.8m, reflecting higher project volume and subcontractor use.
Personnel costs increased to €6.6m, but personnel cost ratio fell to 20.4%.
Equity ratio stable at 65.3%; liquidity at €11.0m.
Outlook and guidance
Forecast for FY 2026 confirmed: total output of ~€58m and EBIT margin of 11.5–13.5%.
High order backlog and market volume support positive outlook; capacities are fully utilized into 2027.
Ongoing investments in equipment and personnel to meet demand and support growth.
- EBIT margin surged to 17.1% as net income and order backlog reached record highs.4DS
H2 2025 - Profitability and order backlog surged, with geothermal and exploration driving future growth.4DS
CMD 2026 presentation - Record order backlog and rising margins position the firm for growth in geothermal and exploration.4DS
Investor presentation - Geothermal and infrastructure growth, strong order book, and regulatory support drive expansion.4DS
Investor presentation - Record EBIT margin and raised outlook highlight robust growth and strong market demand.4DS
H1 2024 - Record order backlog and regulatory tailwinds drive strong growth and profitability in geothermal drilling.4DS
Investor presentation - EBIT margin more than doubled to 12.7% on strong growth and robust order backlog.4DS
H2 2024 - Raised annual outlook after H1 EBIT margin hit 10.3% on strong drilling and market demand.4DS
Q2 2024 TU - 2025 EBIT margin reached 17.4%, surpassing forecasts, with output at €50.8 million.4DS
Q4 2025 TU
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