Deutsche Rohstoff - The SiLLC Assembly

Deutsche Rohstoff Group recorded higher oil production in the current quarter than expected in October

Oil and gas production in Q4 higher than expected
Revenue and EBITDA 2022 around 7% above forecast of 14 October
Forecast 2023 and outlook 2024 unchanged
EBITDA increases by a further ca. EUR 10 million

Mannheim, Dezember 12, 2022 16:30h Deutsche Rohstoff Group recorded higher oil production in the current quarter than expected in October. The four US-subsidiaries produced an average of over 9,650 BOEPD (barrels of oil equivalent per day) in the first 11 months of 2022. Compared to 30 September (9,339 BOEPD), this represents an increase in expected total production of about 110,000 BOE.

The increase in revenue is mainly due to higher production volumes from the existing wells in Colorado, as well as very high initial production from the wells in Utah, which started production in Q4. Some additional wells in Utah will start production in H1 2023. In Wyoming, the wells were also all able to produce at or above plan.

Forecast 2022 (increase)

Sales of EUR 163 to 168 million (previous forecast EUR 152 to 157 million)
EBITDA EUR 138 to 143 million (previously EUR 128 to 133 million)

Forecast 2023 (unchanged)

For 2023, the Company confirms the forecast as follows:

Base scenario

Group sales: EUR 140 to 160 million
EBITDA: EUR 110 to 125 million

Increased price scenario

Group sales: EUR 155 to 175 million
EBITDA: EUR 125 to 140 million

The assumptions for the basis of the forecast remain unchanged at a EUR/USD exchange rate of 1.12 EUR/USD, a natural gas price of USD 4, and a WTI price of USD 75 in the base scenario and USD 85 in the increased price scenario.

For 2024, the Executive Board continues to expect sales above EUR 120 million and EBITDA above EUR 100 million. This is based on only 4 additional net wells at Cub Creek until mid-2023, non-operated wells in Utah until mid-2023 and the already contractually secured Occidental joint venture.

For a definition of the term EBITDA, please refer to the Deutsche Rohstoff AG website at https://rohstoff.de/en/apm/.

Mannheim, 12 December 2022

Deutsche Rohstoff identifies, develops and sells 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 is available at www.rohstoff.de

Contact

Deutsche Rohstoff AG

Phone +49 621 490 817 0

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Disclaimer
All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC Assembly International.

Consolidated financial statements, higher forecast for 2022, forecast for 2023 and dividend proposal

Consolidated financial statements, higher forecast for 2022, forecast for 2023 and dividend proposal

April 25, 2022 Deutsche Rohstoff AG today published the final consolidated financial statements for 2021. In this context, the company raises the forecast for fiscal year 2022.

Group earnings in 2021 EUR 5.32 per share/EBITDA-Forecast 2022 raised to EUR 110-120 million/Dividend 60 Cents

Mannheim. Deutsche Rohstoff AG today published the final consolidated financial statements for 2021. In this context, the company raises the forecast for fiscal year 2022 as follows:

Base scenario 2022:

Group sales: EUR 130 to 140 million (previously EUR 126 to 134 million)

EBITDA: EUR 110 to 120 million (previously EUR 97 to 102 million)

This base scenario is based on an oil price of USD 85/barrel, a gas price of USD 4/MMbtu and a EUR/USD exchange rate of 1.12 for the remainder of 2022.

For the fiscal year 2023, the Executive Board expects the following figures for sales and earnings in the base scenario (oil price USD 75/barrel, gas price USD 4/MMbtu; EUR/USD 1.12):

Base scenario 2023:

Group sales: EUR 125 to 135 million

EBITDA: EUR 100 to 110 million

The company’s management report published today also includes a scenario with an oil price of 92 USD/barrel for the rest of 2022 and an oil price of 85 USD/barrel for 2023, assuming the same gas price and EUR/USD exchange rate. It leads to the following forecast:

Increased price scenario 2022:

Sales: 140 to 150 million EUR

EBITDA: 120 to 130 million EUR

Increased price scenario 2023:

Group revenue 2023: 140 to 150 million EUR

EBITDA 2023: EUR 115 to 125 million

The Executive Board expects to be able to achieve a clearly positive consolidated result in both years.

The Executive Board and Supervisory Board will also propose to the Annual General Meeting, which will be held as a virtual Annual General Meeting on 28 June 2022, to distribute a dividend of 60 cents per share for the fiscal year 2021. Shareholders will be offered the opportunity to receive the dividend in the form of new shares.

The consolidated financial statements can be accessed here in German as of today (an English Version of the Annual Report will follow shortly).

For the definition of EBITDA, please refer to the Deutsche Rohstoff AG website at https://rohstoff.de/en/apm/.

Explanatory notes

The Deutsche Rohstoff Group achieved sales of EUR 73.3 million (previous year: EUR 38.7 million), EBITDA of EUR 66.1 million (previous year: EUR 23.9 million) and consolidated net income of EUR 26.4 million (previous year: EUR -16.1 million; all figures according to the German Commercial Code (HGB) and audited) in fiscal year 2021, which corresponds to earnings per share of EUR 5.32. The final figures for EBITDA and net income are slightly higher than the published preliminary results. The annual report for the fiscal year 2021 of the Deutsche Rohstoff Group is available on the company’s website at www.rohstoff.de.

The start to the 2022 financial year was positive. As expected, production from the Knight wells increased significantly in the course of the first quarter. In March, the Company was already producing approximately 3,500 barrels of oil per day (BOPD). So far in April, daily production has increased to around 4,500 BOPD. The highest production is still expected in May/June. The detailed quarterly report for the first quarter of 2022 will be released in the coming days. Daily production for 2022 is expected to be around 9,300-10,000 BOE, about half of which will be oil.

The capital expenditure budget as part of the forecast for drilling in Utah and Wyoming is EUR 58 million for 2022 and EUR 50 million for 2023. Cub Creek plans to start a drilling program in Wyoming in the second half of 2022 with five wells (80% share) and an investment volume of about USD 40 million. Salt Creek continues to expect the start of production from the first wells under the collaboration with Oxy in the fourth quarter of 2022. Salt Creek will invest a total of approximately USD 65 million in 18 wells. Additional interests in drilling by subsidiaries, particularly Bright Rock in Utah, account for about USD 15 million of investments.

In April, Deutsche Rohstoff USA received the long-awaited tax refund for the fiscal year 2019. With interest, this amounts to around USD 7.6 million.

Mannheim, 25 April 2022

Deutsche Rohstoff identifies, develops and sells 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 complete the portfolio. Further information can be found at www.rohstoff.de

Disclaimer
This document contains forward-looking statements which are based on the current estimates and assumptions made by the assembly team of SiLLC. Forward-looking statements are characterized by the use of words such as expect, intend, plan, predict, assume, believe, estimate, anticipate, forecast and similar formulations. Such statements are not to be understood as in any way guaranteeing that those expectations will turn out to be accurate. Future performance and the results actually achieved by SiLLC and its affiliated groups depend on a number of risks and uncertainties and may therefore differ materially from the forward-looking statements. Many of these factors are outside SiLLC‘s control and cannot be accurately estimated in advance, such as the future economic environment and the actions of competitors and others involved in the marketplace. SiLLC neither plans nor undertakes to update forward-looking statements.

All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed.Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC International.

EUR 32.5 million net profit in the first half of the year

EUR 32.5 million net profit in the first half of the year

Mannheim, Germany Deutsche Rohstoff July 11, 2022 11:31 – 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).

Revenues increase to EUR 72.2 million and EBITDA to EUR 64.0 million

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 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.

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