29.08.2018
Daldrup & Söhne AG DE0007830572
DGAP-News: Daldrup & Söhne AG Geothermal power plants Taufkirchen and Landau on the grid
DGAP-News: Daldrup & Söhne AG / Key word(s): Strategic Company
Decision/Incoming Orders
Daldrup & Söhne AG Geothermal power plants Taufkirchen and Landau on the
grid
29.08.2018 / 09:49
The issuer is solely responsible for the content of this announcement.
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CORPORATE NEWS
Daldrup & Söhne AG: Geothermal power plants Taufkirchen and Landau on the
grid
- Taufkirchen power plant produces electricity after optimization work
- High demand for drilling services in Germany and abroad continues unabated
- Forecast 2018 confirmed
Grünwald / Ascheberg, 29 August 2018 - The two geothermal power plants of
Daldrup & Söhne AG (ISIN DE0007830572) in Taufkirchen and Landau produce
electricity, which is remunerated via the EEG feed-in tariffs. The order
backlog from Germany and abroad in the drilling services business increased
further at the end of August to EUR 63 million (end of May 2018: EUR 49
million). The drilling business is working at full capacity until beyond
2019.
Taufkirchen has started operation
After the first power feed-in at the end of March 2018, Daldrup & Söhne AG,
through its subsidiary Geysir Europe, carried out further operational tests
and carried out technical optimisations on generators and turbines, among
other things. For example, the turbine's so-called nozzle ring had to be
replaced. The work has now been completed. The power plant is connected to
the grid.
The second evaporator for electricity production has been ordered. The
Executive Board expects to connect the full power generation capacity to the
grid in the first half of 2019. Thus, the company can use the 2018/2019
heating period for full heat sales to the communities of Oberhaching and
Taufkirchen.
At the beginning of 2018, Geysir Europe acquired Axpo Power AG's 35 percent
stake in the Taufkirchen project company. Daldrup & Söhne AG thus holds 55
percent of the shares at Group level.
For the current financial year, the Executive Board expects the sale of
electricity and heat in Taufkirchen to contribute around EUR 2.6 million to
Group sales and an EBIT margin of around 31 percent.
Landau with very satisfactory economic results
The Landau power plant has been producing electricity very successfully
since it went into operation in the fourth quarter of 2017. For 2018, the
Executive Board expects sales at power plant level of around EUR 2.4 million
and an EBIT margin of around 5 percent from the sale of electricity.
At the end of 2017, Geysir Europe acquired the 50 percent stake of
Pfalzwerke AG in the power plant. At group level, Daldrup thus holds 67
percent of the power plant. In addition, there is the option of acquiring
the remaining 10 percent of the operating company from EnergieSüdwest AG.
As forecasted, the Daldrup Group will report significant sales and earnings
from power plant operations for the first time for the 2018 financial year:
sales of around 5 million euros and EBIT of 1 million euros. The strategic
goal has always been: Daldrup & Söhne AG must also become an energy
supplier. The goal has been achieved.
Drilling work for the power plant in Neuried expected to begin in 2019
The approval process for the planned geothermal power plant Neuried in the
Ortenau district has been resumed with the Freiburg regional council. The
participation procedure with the municipalities has been completed, the
detailed planning is being carried out in close coordination with the
regional council and there will also be an information event for the
citizens. Talks with financial investors for the participation in the
project company are well advanced. The Executive Board expects to start
construction of the drilling site in the first half of 2019.
Puchheim heating plant to be realized with financial investors
The geothermal project Puchheim for a combined heat and power plant will be
pursued further without participation of the city of Puchheim in the project
company. In a citizens' decision, the citizens had spoken out against such
participation. Irrespective of this, the Daldrup Group will continue to
pursue the project with financial investors.
About Daldrup & Söhne AG
Daldrup & Söhne AG (ISIN: DE0007830572, WKN: 783057) with a corporate
history spanning more than 70 years is a specialist provider of drilling and
environmental services and ranks as one of the leading companies in Germany.
Its activities are divided into the business divisions Geothermics, Raw
Materials & Exploration, Water Extraction as well as Environment,
Development & Services (EDS). The Geothermics business division provides
drilling services for near-surface geothermics (especially geothermal probes
of heat pumps), along with drilling services for deep geothermics up to 6000
m, in order to utilise the geothermal energy accessible in this way for
electricity and/or heat generation. In the Raw Materials and Exploration
business division, the bores made by Daldrup & Söhne AG serve for exploring
and developing fossil fuel deposits (especially coal and gas) as well as
mineral resources and ores (e.g. copper and gold). The Water Extraction
business division comprises well construction for the extraction of
drinking, service, curative, mineral, boiler-feed or cooling water as well
thermal brine. The Environment, Development & Services (EDS) business
division comprises special environmental engineering services such as the
hydraulic clean-up of contaminated sites, the drilling of gas extraction
wells for recovering waste dump gas, the provision of groundwater quality
measuring points or the installation of water purification plants
The majority stake in Geysir Europe GmbH also gives the Daldrup Group its
own fields of experience in the exploration of geothermal energy in the
Bavarian Molasse Basin and in the Upper Rhine Plain. The existing project
management and power station expertise means that all stages of value
creation can be covered for a deep geothermics project.
The shares of Daldrup & Söhne AG are listed in the Scale (sub-segment in the
open market of the Frankfurt Stock Exchange).
Disclaimer
This publication represents neither an offer for sale nor a call to submit a
tender for the purchase or underwriting of securities. This publication and
the information it contains is not intended for direct or indirect
dissemination in or within the United States of America ("USA"), Canada,
Australia or Japan.
Press & Investor Relations Contact:
Daldrup & Söhne AG
Falk v. Kriegsheim
Phone +49 (0)2593-9593-29
Fax +49 (0)2593-9593-60
Bavariafilmplatz 7 [email protected]
82031 Grünwald/Geiselgasteig www.daldrup.eu
Contact:
Daldrup & Söhne AG
Falk v. Kriegsheim
Fon +49 (0)2593-9593-29
[email protected]
www.daldrup.eu
Bavariafilmplatz 7
82031 Grünwald/Geiselgasteig
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29.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
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Archive at www.dgap.de
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Language: English
Company: Daldrup & Söhne AG
Bavariafilmplatz 7 / Gb. 32
82031 Grünwald/Geiselgasteig
Germany
Phone: +49 (0) 89 / 45 24 37 920
Fax: -
E-mail: [email protected]
Internet: www.daldrup.eu
ISIN: DE0007830572
WKN: 783057
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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718489 29.08.2018
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