News

German geothermal specialists Daldrup & Söhne report profitable 2016

Drilling rig on site in the Netherlands (source: Daldrup & Söhne AG)
Parker O'Halloran 7 Jun 2017

Daldrup & Söhne from Germany significantly increased their profits for 2016 fiscal year.

Daldrup & Söhne from Germany significantly increased their profits for 2016 fiscal year. The company generated consolidated sales of EUR 31.1 million ($35 million), according to records. This is an increase of 80% compared to the previous year (2015: EUR 17.3 million / $19.4 million). Daldrup & Söhne specialize in drilling and environmental services, deep geothermal power plants and power plants. In the first half of the year, business year 2016 was marked by many negotiations with local authorities and investors for deep geothermal energy projects. In the second half of the year, the drilling business also picked up significantly in the Raw Materials & Exploration Division.

For the current financial year 2017, the Management Board in the Group expects a total performance of around EUR 40 million ($45 million) and an EBIT margin between 2 and 5% due to plentiful orders. The forecast does not include any revenue and earnings contributions from Landau and Taufkirchen geothermal power plants.  In the summer of 2017 the Taufkirchen power station will begin operations.

Source: IWR.de