Daldrup & Söhne - Business as usual during pandemic
Daldrup & Söhne (Daldrup) reported business as usual in H121 despite the COVID-19 pandemic. Management maintained its FY21 guidance of a total output of around €43m and an underlying EBIT margin of 2–4%. The long-term growth prospects for Daldrup are very positive because geothermal energy offers a great alternative to fossil fuels for governments’ policies on reducing carbon emissions. Geothermal electricity and heat are generated in an almost CO2-neutral manner.Daldrup & Soehne AG is a provider of drilling and environmental services in Germany and Central Europe. Co.'s activities are organized into the following business units: Geothermal Energy business unit provides drilling services for near-surface geothermal energy; In the Raw Materials & Exploration business unit, Co. carries out drilling operations on behalf of national and international mining companies in exploration of deposits of fossil fuels and mineral raw materials; The Water Procurement business unit includes drilling wells to obtain drinking water; EDS provides environmental technology services to clients.
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