DGAP-Adhoc: Deutsche Rohstoff AG: Consolidated financial statements, higher forecast for 2022, forecast for 2023 and dividend proposal

DGAP-Ad-hoc: Deutsche Rohstoff AG / Key word(s): Annual Report
Deutsche Rohstoff AG: Consolidated financial statements, higher forecast for 2022, forecast for 2023 and dividend proposal

25-Apr-2022 / 17:21 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.

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.

25-Apr-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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