15.02.2017
Deutsche Rohstoff AG DE000A0XYG76
DGAP-Adhoc: Deutsche Rohstoff AG: Adjusted forecast for group net profit 2016
DGAP-Ad-hoc: Deutsche Rohstoff AG / Key word(s): Final Results/Profit
Warning
Deutsche Rohstoff AG: Adjusted forecast for group net profit 2016
15-Feb-2017 / 23:18 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Deutsche Rohstoff: Adjusted forecast for group net profit 2016
Mannheim. The management board of Deutsche Rohstoff AG has adjusted the
projected consolidated group net profit for 2016 after receipt of draft
financial statements of Deutsche Rohstoff AG and the groups US
subsidiaries. The adjusted forecast is based on unaudited and interim
figures.
The group net profit after taxes, which as part of the last intermediate
financial results was forecasted to be around EUR 8-10 million, is now
expected to be significantly lower. Based on current interim numbers the
net profit is expected to be slightly below last year's results (EUR 0.5
million). The main reason is the later than forecasted start of oil
production in the 4th Quarter 2016 which has shifted revenues from 2016
into the 1st Quarter 2017. Furthermore, positive effects relating to the
valuation of current and non-current assets will be lower than expected and
the anticipated tax refund of more than USD 10 million for Deutsche
Rohstoff USA, Inc. as the holding company for the US subsidiary will only
to a small extent contribute to a positive tax effect.
The adjusted forecast currently does not contain any asset impairment. Some
effects of the re-evaluation of balance sheet items may be realized as part
of the audit process in order to prevent balance sheet risks.
Deutsche Rohstoff AG continues to expect a significant positive annual net
profit and the management board still anticipates to be able to propose to
the annual shareholder meeting the distribution of a dividend for the year
2016 at least at the same level as last year.
Thomas Gutschlag, CEO of Deutsche Rohstoff AG, comments: "The adjusted
forecast mainly results from the shift of activities into the new year. In
2016 we have built a solid foundation for a successful year 2017, which is
clearly underpinned by the latest oil production results. The good
groundwork laid in the previous years will pay-off even more in the years
to come."
Mannheim, 15 February 2017
Deutsche Rohstoff identifies, develops and divests attractive resource
projects in North
America, Australia and Europe. The focus is on the development of oil and
gas opportunities
within the United States. Metals, such as gold, copper, rare earth
elements, tungsten and tin
complete our portfolio. For more information please visit www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Dr. Thomas Gutschlag, CEO
Tel. +49 621 490 817 0
[email protected]
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15-Feb-2017 CET/CEST The DGAP Distribution Services include Regulatory
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Language: English
Company: Deutsche Rohstoff AG
Q7, 24
68161 Mannheim
Germany
Phone: 0621 490 817 0
Fax: 0621 490 817 22
E-mail: [email protected]
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange; Open Market (Entry
Standard) in Frankfurt
End of Announcement DGAP News Service
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544981 15-Feb-2017 CET/CEST
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