07.05.2018
Deutsche Rohstoff AG DE000A0XYG76
DGAP-Adhoc: Deutsche Rohstoff AG: Further strong growth expected
DGAP-Ad-hoc: Deutsche Rohstoff AG / Key word(s): Final Results/Forecast
Deutsche Rohstoff AG: Further strong growth expected
07-May-2018 / 17:45 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, 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 AG: Further strong growth expected
65 cents proposed dividend for 2017/preliminary quarterly figures released
Mannheim. During the financial year 2017 Deutsche Rohstoff Group generated
revenues of EUR 53.7 million (previous year: EUR 9.2 million), an EBITDA of
EUR 36.1 million and a net profit of EUR 7.7 million (all numbers according
to German GAAP and audited). Management and supervisory board will propose a
further increased dividend of EUR 0.65 per share (previous year: EUR 0.60)
to the Annual General Meeting, which will be held in Mannheim on 10 July
2018.
For the full year 2018, management expects a revenue of EUR 75 to 85 million
and an EBITDA of EUR 65 to 70 million. This forecast is based on the
assumption of an annual average oil price of USD 65/bbl and a EUR/USD
exchange rate of 1.22. The forecast includes reduced revenues and profits
from the recently announced sale of Salt Creek Oil & Gas which will only
contribute to revenues until approximately the end of May. Sales in the US
oil and gas business are reported after deduction of minority interests,
royalties and production-related taxes. For the definition of the term
EBITDA please refer to DRAG's homepage at http://rohstoff.de/en/apm/.
In the first quarter of 2018, the Group achieved sales of EUR 15.6 million,
an EBITDA of EUR 10.6 million and a net profit of EUR 1.1 million according
to preliminary figures (German GAAP, unaudited). It should be noted that
sales of around EUR 2 million can only be booked by Elster Oil & Gas in the
second quarter. Elster markets its own oil and due to the limited offtake
capacity of the contractor, to which Elster sells the oil, the company did
not sell the full entitlement of production during the 1st quarter. The
missing quantities will be delivered in the coming months. Due to high
initial production, there may be corresponding delays in the first few
months.
Full quarterly figures will be released on 9 May.
Thomas Gutschlag, CEO of Deutsche Rohstoff, commented: "In 2017, we
significantly accelerated our growth and invested strongly in new drilling
in the US. Particularly from the second quarter of 2018 on, these high
investments will have an impact on sales and earnings. We are facing another
year of strong growth, which is also reflected in our forecast. The sale of
Salt Creek and the expected cash flows from Elster provide us with
sufficient cash and cash equivalents to continue to invest in the expansion
of our US business. "
The Consolidated Financial Statement of the Deutsche Rohstoff Group is now
available on the Company's homepage, as well as the Annual Report 2017.
Currently only a German version is available, the English version will
follow shortly.
Mannheim, 7 May 2018
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
Thomas Gutschlag
Tel. +49 621 490 817 0
[email protected]
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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: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart,
Tradegate Exchange
End of Announcement DGAP News Service
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683233 07-May-2018 CET/CEST
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