Deutsche Rohstoff AG: EUR 32.5 million net profit in the first half of the year

DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous Deutsche Rohstoff AG: EUR 32.5 million net profit in the first half of the year 11.07.2022 / 11:29 The issuer is solely responsible for the content of this announcement. Deutsche Rohstoff AG: EUR 32.5 million net profit in the first half of the year Revenues increase to EUR 72.2 million and EBITDA to EUR 64.0 million Mannheim. According to preliminary figures, the Deutsche Rohstoff Group generated consolidated net income of EUR 32.5 million in the first half of 2022 (previous year: EUR 17.5 million). This corresponds to EUR 6.36 per share. Revenues amounted to EUR 72.2 million (previous year: EUR 38.8 million) and EBITDA to EUR 64.0 million (previous year: EUR 39.9 million). Production in the second quarter was 10,890 BOEPD per day (including 6,090 barrels of oil), compared with 7,880 BOEPD in the first quarter (including 4,230 barrels of oil). Full-year production is expected to remain unchanged at 9,300 to 10,000 BOEPD. Losses from hedging amounted to around EUR 15.0 million in the 2nd quarter, compared with around EUR 10.0 million in the 1st quarter. The hedging ratio was 68% in the first half of the year. In the second half of the year, it falls significantly to around 35%. With the half-year result, the company is within the forecast of the “higher price scenario” from April 2022 for the year 2022. Assuming an average oil price of USD 92 per barrel from April to December 2022, the Company expects revenue of around EUR 140 to 150 million and EBITDA of EUR 120 to 130 million as part of this increased forecast. If the oil price averages around USD 85 during this period, revenues are expected to be in the range of EUR 130 to 140 million and EBITDA around EUR 110 to 120 million. The full forecast is available at https://rohstoff.de/en/guidance/. Jan-Philipp Weitz commented: “Our strong performance in the first six month underlines the positive development of the company and shows that we are on a very good track to achieve the guidance in the higher price scenario. The high cash flows from operations provide the basis for solid growth and planned investments in the US in 2022 and 2023 of well over EUR 100 million.” The final figures and the half year report for the first half of 2022 of the Deutsche Rohstoff Group will be available on the company’s website at www.rohstoff.de by mid-August. Mannheim, 11 July 2022 Deutsche Rohstoff identifies, develops and disposes of attractive raw material deposits in North America, Australia and Europe. The focus is on the development of oil and gas deposits in the USA. Metals such as gold and tungsten round off the portfolio. Further information at www.rohstoff.de. Contact Deutsche Rohstoff AG Jan-Philipp Weitz Phone +49 621 490 817 0 info@rohstoff.de   11.07.2022 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, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language:	English
Company:	Deutsche Rohstoff AG
	Q7, 24
	68161 Mannheim
	Germany
Phone:	0621 490 817 0
Fax:	0621 490 817 22
E-mail:	gutschlag@rohstoff.de
Internet:	www.rohstoff.de
ISIN:	DE000A0XYG76, DE000A1R07G4,
WKN:	A0XYG7, A1R07G
Indices:	Scale 30
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1395123

End of News	DGAP News Service

show this