Deutsche Rohstoff - The SiLLC Assembly

Preliminary consolidated figures for 2021

Preliminary consolidated figures for 2021

In fiscal year 2021, the Deutsche Rohstoff Group generated sales of EUR 73.3 million, EBITDA of EUR 65.9 million and consolidated net income of EUR 26.1 million.

Consolidated net income rises to EUR 26.1 million/Sales and EBITDA in line with forecast

March 14, 2022 – Mannheim – Deutsche Rohstoff AG – In fiscal year 2021, the Deutsche Rohstoff Group generated sales of EUR 73.3 million (forecast EUR 68 to 73 million; previous year: EUR 38.7 million), earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 65.9 million (forecast EUR 64 to 67 million; previous year: EUR 23.9 million) and consolidated net income of EUR 26.1 million (previous year: consolidated net loss – EUR 16.1 million). Sales and EBITDA are thus in line with the increased forecast published in January (see release dated 20 January 2022). Overall, the forecast was raised three times during the year due to the good operating performance, acquisitions and rising oil & gas prices.

For the current year, the Executive Board expects a further significant increase in sales and EBITDA. According to the forecast published in January, sales will amount to EUR 126 to 134 million and EBITDA to EUR 97 to 102 million. This does not yet include revenues from the cooperation with Oxy, which may be incurred from Q4 2022 onwards. Drilling from one of the two well sites in which Salt Creek has an interest commenced on schedule in mid-February.

The equity and bond portfolio, which had been established from April 2020, contributed a realized return of EUR 17.5 million in 2021. There was also unrealized income of EUR 4.4 million as of 31 December 2021. Oil and gas hedging to hedge price risks resulted in a loss of EUR 14.3 in 2021 (previous year: gain of EUR 12 million).

Liquid funds (bank balances and securities held as current and non-current assets) available to the Group as of 31 December 2021 amounted to approximately EUR 36.8 million (previous year: EUR 36.0 million). Equity rose to EUR 79.8 million (previous year: EUR 45.6 million), increasing the equity ratio to 30% (previous year: 22%). Liabilities amounted to EUR 148 million (previous year: EUR 138.6 million). Net liabilities (cash and cash equivalents minus liabilities from bonds and to banks) decreased to EUR 80.5 million (previous year: EUR 92.4 million).

All figures for 2021 are preliminary and unaudited. Deutsche Rohstoff AG is expected to publish the audited consolidated financial statements and the annual report on 25 April 2022.

The Knight pad is on track for peak production. As reported, it is expected in Q2 2022. Currently, the wells are already producing 3,000 to 3,500 barrels of oil per day.

Mannheim, 14 March 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

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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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.

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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Strongest operating half-year in company history

Strongest operating half-year in company history

According to the final, unaudited half-year figures, the Deutsche Rohstoff Group generated sales of EUR 72.2 million, EBITDA of EUR 64.0 million and consolidated net income of EUR 32.5 million in the first half of the year.

Net profit EUR 32.5 million/Equity up by EUR 44.6 million/Operating cash flow at EUR 62,6 million

Mannheim. According to the final, unaudited half-year figures, the Deutsche Rohstoff Group generated sales of EUR 72.2 million (previous year EUR 38.8 million), EBITDA of EUR 64.0 million (previous year EUR 39.9 million) and consolidated net income of EUR 32.5 million (previous year EUR 17.5 million) in the first half of the year. Operating cash flow from oil production in the USA and income from the investment portfolio amounted to EUR 62,6 million (previous year EUR 36.8 million).

The very good half-year result also has a positive impact on the Group’s balance sheet. Cash and cash equivalents* increased to around EUR 79.8 million as of 30 June 2022. Net debt** has fallen to EUR 54.5 million. At the end of 2021, it had still amounted to EUR 84.1 million. Equity of EUR 124.7 million is EUR 44.6 million higher than equity at 31 December 2021. The equity ratio at the half-year point was 36.9 percent (31 December 2021: 30.2 percent).

Assuming an average oil price of USD 92 per barrel from April to December 2022, the company expects sales of around EUR 140 to 150 million and EBITDA of EUR 120 to 130 million as part of this increased price scenario. If the oil price averages around USD 85 during this period, revenues of EUR 130 to 140 million and EBITDA of around EUR 110 to 120 million are expected. The full guidance is available at https://rohstoff.de/en/guidance/.

The four US-subsidiaries produced an average of 9,386 BOE per day in the first half of the year (previous year 7,801 BOE per day), for a total production of 1,689,532 BOE (previous year 1,412,019 BOE). Crude oil accounted for 930,658 barrels (previous year 660,682 barrels), with natural gas and condensates accounting for the remainder. All volumes represent the Group’s net share. Cub Creek plans to commence a drilling program in Wyoming in the fourth quarter, and in addition, the production start of the Oxy Joint Venture in Wyoming will be another operational highlight.

The share and bond portfolio, in particular the sale of a portion of Northern Oil & Gas shares, also had a positive impact on consolidated net income of EUR 6.2 million. Further income of EUR 2.2 million resulted from the development of the EUR/USD exchange rate in the first half of the year.

The half-year report of Deutsche Rohstoff will be available shortly here.

The Management Board of Deutsche Rohstoff AG will hold a Web-Call (in German) on the first half-year results on Thursday, 11 August 2022 at 10:30 a.m. Interested investors can register for the call here.

Mannheim, 10 August 2022

* The definition of “cash and cash equivalents” was expanded to include trade receivables and payables: Cash, securities held as fixed and current assets and trade receivables, less trade payables.

** Net debt: Bond and bank liabilities less cash and cash equivalents.

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