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Deutsche Rohstoff AG
ISIN:
DE000A0XYG76
WKN:
A0XYG7
Country: Deutschland
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Primary market: Germany
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EQS NID: 2122634
Levermann Score
23 April 2025 15:46PM
Consolidated financial statements, dividend proposal and guidance 2025/2026
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EQS-Ad-hoc: Deutsche Rohstoff AG / Key word(s): Annual Results/Dividend Consolidated financial statements, dividend proposal and guidance 2025/2026
End of Inside Information Information and Explanation of the Issuer to this announcement: Explanatory part
Deutsche Rohstoff AG today published its final consolidated figures for 2024. The preliminary figures (see press release dated March 5, 2024) were confirmed in full. The annual report for the 2024 financial year of the Deutsche Rohstoff Group is available on the company's website at www.rohstoff.de. Jan-Philipp Weitz, CEO, noted: “In 2024, we generated revenues significantly over EUR 200 million for the first time and closed another very successful financial year with a net profit of EUR 50 million. With another increased dividend and an additional share buyback program, we will let our shareholders participate in our success with a total of around EUR 13.8 million, thereby continuing the shareholder return measures of previous years with around EUR 2.82 per share.” Guidance 2025 The previous guidance for 2025 was based on oil prices of USD 75, and USD 85 (WTI) respectively. At these price levels, the guidance could still be met. However, due to recently lower oil prices, the two communicated scenarios for the guidance have been adjusted and a USD 15 lower oil price is used as the basis in each case. Base scenario 2025: Group revenue: EUR 170 to 190 million at USD 60 WTI (previously: EUR 180 to 200 million at USD 75 WTI) EBITDA: EUR 115 to 135 million (previously: EUR 125 to 145 million at USD 75 WTI) High scenario 2025: Group revenue: EUR 180 to 200 million at USD 70 WTI (previously: EUR 210 to 230 million at USD 85 WTI) EBITDA: EUR 125 to 145 million at USD 70 WTI (previously: EUR 150 to 170 million at USD 85 WTI) The base scenario is based on an oil price of USD 60/barrel, while the high scenario is based on an oil price of USD 70. Both scenarios are based on a gas price of USD 3 (base scenario previously USD 2) and an EUR/USD exchange rate of 1.10 (previously 1.12) for the remainder of 2025. For 2026, the Executive Board expects revenue and earnings to be in the range of the scenarios published today for the financial year 2025. Due to the recent volatile market environment, the Executive Board currently abstains from providing a more specific guidance range for financial year 2026. The Executive Board expects to be able to achieve a clearly positive consolidated net income in both years. Drilling program 2025, strong hedge book and good production results For the financial year 2025, the originally planned drilling program of around 12 gross wells was initially reduced by two gross wells to ten gross wells with an increased net interest (~94%). The expected capex for the financial year 2025 will decrease accordingly to EUR 90 to 100 million. Notably, periods of weaker oil prices clearly underscore the significance of our consistent focus in recent years on maximizing capital efficiency and reducing drilling costs on a per well basis in order to remain competitive and profitable. Last year, capex for the independently drilled Niobrara wells of the operating subsidiary 1876 Resources were already reduced to less than USD 10 million. As a result of further efficiency improvements and the rapid response of service providers in the USA to the recent fall in WTI prices, Deutsche Rohstoff AG expects capex to fall again for the Niobrara wells in the drilling program that is currently ongoing. Seven of the ten wells planned for 2025 will be drilled into the Niobrara Formation. Three additional wells aim at confirming the high potential of the Mowry Formation at a higher development density. All wells will only commence production in the second half of the year. Revenue and earnings in 2025 will therefore be generated primarily from existing wells. Existing hedges and the current strong production once again demonstrate the Group's stable financial position. Even with an oil price of USD 60, forecasted EBITDA would only be around 7% below the previous range, which was originally forecast at USD 75. Group figures confirm preliminary results During the 2024 financial year, Deutsche Rohstoff Group generated a revenue of EUR 235.4 million (guidance: EUR 210 to 230 million; previous year: EUR 196.7 million), earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 167.6 million (guidance: EUR 160 to 180 million; previous year: EUR 158.3 million) and consolidated net earnings after minority interests of EUR 50.2 million or EUR 10.26 per share (previous year: EUR 65.2 million or EUR 13.02 per share). In the previous year, Deutsche Rohstoff AG sold acreage in Utah and shares in Northern Oil & Gas held since 2018, thereby generating extraordinary income from asset sales of around EUR 15 million. Meanwhile during the financial year 2024, the earnings contribution from the Investments & Metals segment was negative at around EUR 7 million. In an adjusted comparison excluding divestments, investments into securities as well as the metals business, the earnings contribution from the production of oil and gas rose by EUR 7.7 million from around EUR 49.7 million in financial year 2023 to around EUR 57.4 million in financial year 2024, a new operating record. As of 31 December 2024, the Group had cash and cash equivalents (bank balances and marketable securities) of around EUR 19.7 million (previous year: EUR 82.2 million) at its disposal. Equity rose to EUR 237.5 million (previous year: EUR 187.5 million) and the equity ratio to 43.0% (previous year: 38.0%). Total assets amounted to EUR 552.5 million (previous year: EUR 493.8 million). Net financial liabilities (liabilities from bonds and to banks less cash and cash equivalents) increased to EUR 157.0 million (previous year: EUR 79.1 million). The gearing ratio (net financial liabilities in relation to EBITDA) was 0.9 (previous year: 0.5). Trade payables decreased to EUR 14.4 million (previous year: EUR 26.6 million) and provisions to EUR 28.5 million (previous year: EUR 48.5 million). Operating cash flow amounted to EUR 143.6 million in 2024 (previous year: EUR 139.3 million), while cash investments in oil & gas wells and infrastructure amounted to EUR 185.3 million (previous year: EUR 198.4 million). Free cash flow was negative by EUR 36.8 million as a result of comprehensive capex and the reduction in working capital. The Executive Board of Deutsche Rohstoff AG will hold a German web call on Thursday, 24 April 2025 at 10:00 a.m. and an English web call at 11:00 a.m. on the results for the 2024 financial year. Interested investors can register for the German speaking call here and for the English speaking call here. For the definition of EBITDA, please refer to the homepage of Deutsche Rohstoff AG at http://rohstoff.de/en/apm/. Mannheim, 23 April 2025 Contact Deutsche Rohstoff AG Phone +49 621 490 817 0 Mail info@rohstoff.de
23-Apr-2025 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Deutsche Rohstoff AG |
| Q7, 24 | |
| 68161 Mannheim | |
| Germany | |
| Phone: | 0621 490 817 0 |
| E-mail: | info@rohstoff.de |
| Internet: | www.rohstoff.de |
| ISIN: | DE000A0XYG76 |
| WKN: | A0XYG7 |
| Indices: | Scale |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 2122634 |
| End of Announcement | EQS News Service |
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2122634 23-Apr-2025 CET/CEST
