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05.03.2025 14:35:17
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EQS-Adhoc: Deutsche Rohstoff AG: Preliminary 2024 financials confirm record revenue
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EQS-Ad-hoc: Deutsche Rohstoff AG / Key word(s): Annual Results Preliminary 2024 financials confirm record revenue
End of Inside Information Information and Explanation of the Issuer to this announcement: Explanatory part Revenue and EBITDA increased further in 2024 In the 2024 financial year, the Deutsche Rohstoff Group generated revenues of EUR 235.4 million (forecast: EUR 210 to 230 million; previous year: EUR 196.7 million), earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 167.6 million (forecast: EUR 160 to 180 million; previous year: EUR 158.3 million) and Consolidated net income 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). Revenue is therefore slightly above and EBITDA in the middle of the guidance range published in April 2024 (see press release dated 10 April 2024). Operating business reaches new record levels With revenue of EUR 63.8 million (Q4 2023: EUR 64.0 million) and production of around 14,700 BOEPD (barrels of oil equivalent per day) with an oil share of 64%, the fourth quarter of 2024 followed on from the previous record quarter of the previous year. EBITDA in Q4 2024 amounted to EUR 45.4 million and the consolidated net income to around EUR 14,1 million. Production of approximately 14,750 BOEPD (previous year 12,700 BOEPD) is the basis for the best revenue and EBITDA figures in the company's history. For the year as a whole, USD 73.20/BBL (previous year: USD 73.91/BBL) was realized for oil after hedges. The average realized price after hedges for Natural Gas was around USD 2.10/mcf (previous year: USD 2.86/mcf). The significant increase in revenue and earnings is mainly due to increased production volumes and a higher oil share of Wyoming production. The oil share rose to 60% on average in 2024 (previous year: 55%). In addition to the high income from operating activities, other operating income of EUR 7.3 million was generated in 2024 (previous year: EUR 20.6 million). In the previous year, Deutsche Rohstoff AG sold acreage in Utah and shares from Northern Oil & Gas, which it had held since 2018, generating extraordinary income from asset sales of around EUR 19 million. On an adjusted basis, excluding the divestments and the metals business, the contribution from oil and gas production increased by around EUR 5 million from around EUR 50 million in 2023 to around EUR 55 million in 2024, a new operating record. Equity ratio rises to 43% Due to the good result, but also due to the very strong US Dollar at the end of the year, the Group's equity increased by 27% to around EUR 238 million (previous year: EUR 187.5 million). The equity ratio increased from 38% to around 43%. The group held cash and cash equivalents (bank balances and securities) of around EUR 19.7 million as of 31 December 2024 (previous year: EUR 82.2 million). Net financial liabilities (liabilities from bonds and to banks less cash and cash equivalents) increased to around EUR 157 million (previous year: EUR 79.1 million). The leverage ratio (net financial liabilities in relation to EBITDA) was 0.9 (previous year: 0.5). Trade payables fell to around EUR 14.4 million (previous year: EUR 26.6 million) and provisions to around EUR 28 million (previous year: EUR 48.5 million). The operating cash flow amounted to around EUR 150 million (previous year: EUR 139.3 million). Investments in new wells and infrastructure amounted to just over EUR 180 million (previous year: EUR 198.4 million). Jan-Philipp Weitz, CEO, comments: "We once again achieved record figures for revenue and EBITDA in the 2024 financial year. Excluding one-time effects from divestments and other operating income, the Group's net income improved again. Our core business, the production of oil and gas in the USA, is growing dynamically and delivering increasing results. By investing heavily, we have succeeded in broadening our production base and significantly reducing drilling costs. The high level of investment thus also lays the foundation for development in subsequent years." Henning Döring, CFO, adds: "Nine wells went into production in the fourth quarter and we paid the majority of the invoices in 2024 in order to realize discounts. We are therefore starting 2025 with high production volumes and a strong cash flow." All figures for 2024 are preliminary and unaudited. Deutsche Rohstoff AG expects to publish the audited consolidated financial statements and the annual report on 24 April 2025. Mannheim, 5 March 2025 Contact us Deutsche Rohstoff AG Phone +49 621 490 817 0 info@rohstoff.de
05-March-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: | 2095801 |
| End of Announcement | EQS News Service |
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2095801 05-March-2025 CET/CEST
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