Daldrup & Söhne AG, a specialist in drilling technology and geothermal energy, has announced that it won an EU-wide tender issued by Innovative Energie für Pullach GmbH (IEP GmbH). The German company, listed under ISIN DE0007830572, will carry out drilling work for geothermal energy exploitation in the Pullach region, south of Munich. The project, estimated to be worth several tens of millions of euros, will start in December 2025 and last for two and a half years.
Geothermal drilling in Pullach and Baierbrunn
The work will include drilling seven geothermal wells at the Pullach South and Baierbrunn sites. The wells, ranging in depth from 4,000 to 5,100 meters, will be used to extract geothermal energy from the Malm deposit, dating back to the Upper Jurassic period. The temperatures at the wells are expected to range from 122°C to 142°C. Depending on the results, up to three additional wells may be drilled.
A strategic project for Daldrup & Söhne AG
The contract represents the largest project ever undertaken by Daldrup & Söhne AG and has a direct impact on the company’s financial future. This contract also forms part of a broader strategy to make geothermal energy more competitive in the German market, particularly through the synergies generated by large-scale projects. According to Andreas Tönies, CEO of Daldrup & Söhne AG, this project offers significant benefits in terms of preparation and project management, and could serve as a model for other municipalities across Germany.
Strengthening the order book
This contract increases Daldrup & Söhne AG’s order book value to over EUR 130 million. The geothermal market in Germany, where the company is active, has seen significant growth, nearly quintupling in size over the past five years. The Pullach project will further consolidate this trend and is expected to have a positive impact on the group’s financial performance in the coming years, especially in 2026, 2027, and 2028.
Dividend proposal for shareholders
In another development, Daldrup & Söhne AG has announced that its board of directors will propose a dividend of EUR 0.15 per share at the general meeting on August 28, 2025, after reporting a net profit of EUR 1.98 million. This dividend would represent a yield of 1.6%, based on the XETRA closing price of EUR 9.16 at the end of 2024. The company also plans to strengthen its financial position to support future growth.
