Daldrup & Söhne (4DS) CMD 2026 presentation summary

Financial performance and key metrics

• 2025 total output reached €51.1 million, with EBIT of €8.7 million and an EBIT margin of 17.1%.

• Earnings per share rose to €1.29, and free cash flow was €5.2 million.

• Liquidity improved to €13.0 million, and equity ratio remained strong at 65.3%.

• Order backlog surged to €120 million by March 2026, with relevant market volume at €380 million.

• 2026 outlook targets total output of €58 million and EBIT margin between 11.5% and 13.5%.

Business model and market positioning

• Operates across geothermal, raw materials & exploration, EDS (special drilling/services), and water extraction.

• Geothermal and raw materials/exploration contributed 30.6% and 50.2% of 2025 output, respectively.

• Only provider with such a broad drilling spectrum, serving mainly public and industrial clients.

• Focused on DACH and Benelux regions, with 160 employees and a family-led structure.

• Long-term growth potential supported by diversified business lines.

Strategic projects and references

• Major geothermal projects include MTU Aero Engines (Munich), Prenzlau, Pullach/Isartal, and Giselbullach.

• Swiss geothermal market offers attractive prospects, with several reference projects completed or planned.

• Raw materials/exploration projects include work for Schweizer Salinen AG and Ruhrkohle AG.

• EDS projects involve environmental remediation and filling of old mining shafts in Germany and Switzerland.

• Projects are increasing in size and frequency, especially in geothermal.