Daldrup & Söhne (4DS) H2 2024 earnings summary

Executive summary

• Achieved significant growth in 2024, with total output up 12.8% year-over-year to €54.6 million, surpassing raised forecasts.

• EBIT increased 2.7 times to €6.9 million, with an EBIT margin of 12.7%, well above the 7–9% forecast.

• Strong capacity utilisation across all business segments, driven by robust demand for geothermal and exploration drilling in Germany and Switzerland.

• Strategic investments in equipment and personnel supported operational efficiency and future growth.

Financial highlights

• Sales revenue rose to €54.1 million from €49.1 million year-over-year.

• EBITDA reached €8.5 million (15.6% margin), up from €4.9 million (10.2%).

• Net income increased to €2.5 million from €0.9 million year-over-year.

• Equity ratio improved to 68.8% from 49.7%, with equity at €23.5 million.

• Cash and cash equivalents rose to €6.4 million from €3.6 million.

Outlook and guidance

• Management expects 2025 total output of around €52 million and EBIT margin between 9% and 12%.

• Order backlog at end of March 2025 was €31 million, with relevant market volume at €405 million.

• Anticipates robust demand for geothermal and infrastructure drilling, supported by EU and German funding initiatives.