Deutsche Rohstoff AG: Consolidated financial statements 2020 published
EBITDA 2021 and 2022 expected to exceed EUR 40 million in each year/EUR 11.5 million earnings in 1st quarter 2021Mannheim. As already reported in the context of the publication of the preliminary figures, the Deutsche Rohstoff Group achieved sales of EUR 38.7 million (previous year: EUR 41.2 million), EBITDA of EUR 23.9 million (previous year: EUR 22.7 million) and a consolidated result of EUR -16.2 million (previous year: EUR 0.2 million; all figures according to German GAAP and audited) in the difficult 2020 financial year. The Annual Report for the financial year 2020 of the Deutsche Rohstoff Group will be available shortly on the company's website at www.rohstoff.de.
The Deutsche Rohstoff Group has made a very good start to the new year. In the first quarter of 2021, the subsidiaries of Deutsche Rohstoff produced a combined net volume of around 570,000 BOE (of which around 330,000 BO of oil). In the first quarter, consolidated net income is expected to be around EUR 11.5 million on sales of EUR 17 million. EBITDA at around EUR 21 million will be strongly influenced by other operating income resulting from sales of the equity and bond portfolio. The final report for the first quarter 2021 will be published in early May.
For 2021 and 2022, the Executive Board expects the following figures for sales and earnings:
Group sales 2021: EUR 57 to 62 million
Group sales 2022: EUR 60 to 65 million
EBITDA 2021: EUR 42 to 47 million
EBITDA 2022: EUR 40 to 45 million
The Executive Board expects to be able to achieve a clearly positive consolidated result in both years.
The Executive Board and Supervisory Board will propose to the Annual General Meeting, which will again be held as a virtual Annual General Meeting in Mannheim on 23 June 2021, that no dividend be distributed. For the coming years, the Executive Board expects to be able to resume dividend payments.
Thomas Gutschlag, CEO of Deutsche Rohstoff AG, said: "All in all, we were able to put the Corona year behind us relatively well. Our decisions to reduce production as much as possible, to buy favorable acreage and to generate additional income with an equity portfolio were correct. Accordingly, we are very confident for the current and the coming year. The first quarter of 2021 shows a strong result with the direction where we are headed."
Mannheim, 26 April 2021
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
Contact
Deutsche Rohstoff AG
Dr. Thomas Gutschlag, CEO
Phone +49 621 490 817 0
info@rohstoff.de