EQS-News: Deutsche Rohstoff AG: First quarter of 2025 marks strong start to the year

First quarter of 2025 marks strong start to the year
 

• Revenue up 6% to EUR 59.1 million
• EBITDA of EUR 43.2 million in the first three months
• Consolidated net income of EUR 12.5 million
• Strong free cash flow of EUR 22.1 million in the first quarter
• Equity ratio rises to 45.7%
• Daily production of 14,549 BOEPD underscores strong operational performance
• Revenue and EBITDA guidance for 2025 confirmed

Deutsche Rohstoff Group continued its positive performance from previous years in the first quarter of 2025, generating revenue of EUR 59.1 million (previous year: EUR 55.6 million), EBITDA of EUR 43.2 million (previous year: EUR 41.7 million) and earnings after minority interests of EUR 12.5 million (previous year: EUR 15.0 million), corresponding to EUR 2.6 per share (previous year: EUR 3.0). The quarterly report is now available on the company's website at www.rohstoff.de.

Jan-Philipp Weitz: “We are very pleased with this strong start in 2025, and continue the high growth achieved in 2024 and 2023. Revenue and earnings in the first quarter already represent around one-third of the full-year guidance and, together with the strong hedge book, give us strong visibility for our guidance. Over the course of the year, we plan to bring ten wells into production with a 95% working interest, and to generate revenue of EUR 170 to 190 million, assuming the WTI price remains at around USD 60.”

The average daily production of the US subsidiaries was 14,549 BOE (previous year: 14,911 BOE) and 9,446 BO (previous year: 8,664 BO). The guidance for the full year 2025 is based on a daily production of 13,500 to 14,500 BOEPD.

The new wells will start production in the third and fourth quarter respectively. Peak production is expected to be reached in the fourth quarter of 2025. Four wells were completed in April. Meanwhile, 1876 has commenced drilling of another four wells.

In the first quarter, the US subsidiaries realized an average oil price after hedges of USD 68.94/bbl and USD 67.92/bbl before hedges. WTI traded at an average of USD 71.78/bbl. The hedge book currently comprises 1.2 million barrels of oil at an average price of around USD 68.90/barrel.

The consolidated balance sheet reflects the good results of the previous year and the first quarter. Consolidated equity rose to EUR 239.3 million as of 31 March 2025, compared to EUR 237.5 million at the end of 2024. The equity ratio reached 45.7% compared to 43.0% as of 31 December 2024. Cash and cash equivalents (bank balances + current securities) amounted to EUR 26.0 million at the end of the first quarter (31 December 2024: EUR 19.7 million).

Liabilities decreased by EUR 22.7 million to EUR 194.2 million (31 December 2024: EUR 216.9 million) due to the reduction of bank loans and other liabilities. Provisions were reduced from EUR 28.5 million to EUR 20.0 million. Operating cash flow amounted to EUR 44.7 million and cash flow from investing activities to EUR -22.6 million, of which EUR 17.1 million was spent on new wells. Free cash flow amounted to EUR 22.1 million.

Henning Döring: “We used the strong cash flow in the first quarter to reduce financial and operating liabilities as well as provisions. This further strengthened our balance sheet and increased our equity ratio to around 46%.”

For the current year, the Executive Board expects revenue to be between EUR 170 million and EUR 190 million and EBITDA to be between EUR 115 million and EUR 135 million in the base scenario, in line with the guidance published in April. Consolidated net income is expected to be clearly positive. The guidance is based on an oil price of USD 60 per barrel for the rest of the year, a gas price of USD 3 per mmBtu and an exchange rate of USD 1.10 per EUR (see press release dated 23 April 2025).

Further scenarios and guidance for 2025 can be found here: https://rohstoff.de/en/investors/guidance.
Mannheim, 13 May 2025
Contact
Deutsche Rohstoff AG
Tel. +49 621 490 817 0
info@rohstoff.de