EQS-News 105 0 Kommentare Deutsche Rohstoff AG: First quarter revenue up 30% to EUR 55.6 million - Seite 2

EBITDA reached EUR 41.7 million in the first quarter, exceeding the previous year's figure by around 29%. At EUR 19.3 million, depreciation and amortization was at a similar level to the third and fourth quarters of 2023, as planned, but significantly higher than in the previous year. This reflects the higher capital costs and higher oil content of the wells in Wyoming.

The consolidated balance sheet reflects the good results of the previous year and the first quarter. Consolidated equity increased to EUR 208.4 million as of 31 March 2024 compared to EUR 187.5 million at the end of 2023. The equity ratio reached 41.2% compared to 38.0% as of 31 December 2023. Cash and cash equivalents (bank balances + marketable securities) amounted to EUR 63.2 million at the end of the first quarter (31 December 2023: EUR 82.2 million).

Liabilities fell to EUR 191.4 million (31 December 2023: EUR 204.8 million) due to the reduction in trade payables and bank loans. The operating cash flow amounted to EUR 36.3 million and the cash flow from investing activities to EUR 43.0 million.

Henning Döring: “Despite continuing our growth course and investing in the drilling activities in Wyoming, we were able to reduce liabilities and strengthen our equity disproportionately. This once again underlines the financial strength of Deutsche Rohstoff AG.”

According to the guidance published in mid-April, the Executive Board expects revenue for the current year to be between EUR 210 and 230 million and EBITDA between EUR 160 and 180 million in the base scenario. The Group result is expected to be clearly positive. The guidance is based on an oil price of USD 75/barrel for the rest of the year, a gas price of USD 2/mmBtu and an exchange rate of EUR 1.12/USD (see press release dated 10 April 2024). Further scenarios and the guidance for 2025 can be found here: https://rohstoff.de/en/guidance/.

Mannheim, 13 May 2024

13.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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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:	1901491