Daldrup & Söhne (4DS) Investor presentation summary

Financial performance and key metrics

• 2025 total output reached €51.1 million, down 6.4%, but EBIT rose 25.8% to €8.7 million, with a margin of 17.1%.

• H1 2026 preliminary figures show a 56% increase in total output to €32.3 million and a 30.6% rise in EBIT to €3.46 million.

• Net profit for 2025 surged 211.5% to €7.7 million; liquidity more than doubled to €13 million by year-end 2025.

• Equity ratio remained strong at 65.3% at the end of 2025.

• Dividend per share increased from 15 to 18 cents between 2024 and 2025.

Business model, operations, and market position

• Operates across geothermal, resource exploration, infrastructure, and well decommissioning, with a diversified revenue base.

• Geothermal segment is expected to exceed 50% of total output from 2027 onward.

• Holds a leading position in deep geothermal drilling, serving mainly municipalities and utilities.

• Maintains a fleet of advanced drilling rigs for projects up to 6,000 meters deep.

• Employs around 160 staff and is family-owned in its third generation.

Order book, market outlook, and growth drivers

• Order backlog stood at €132 million as of August 2026, with a relevant market volume of €371 million.

• Market volume has grown steadily, with potential orders assessed by probability tiers.

• Regulatory changes and government incentives are driving demand for geothermal and infrastructure projects.

• Significant infrastructure investment and demand for well decommissioning expected.

• 2026 forecast: total output of €58 million and EBIT margin target of 11.5–13.5%.