DEUTSCHE ROHSTOFF AG (FRA:DR0) EQS-Adhoc: Deutsche Rohstoff AG: Dividend proposal of EUR 1.75 per share for 2023 and share buyback with a volume of up to EUR 4 million

Transparency directive : regulatory news

23/04/2024 15:16

EQS-Ad-hoc: Deutsche Rohstoff AG / Key word(s): Annual Report/Dividend
Deutsche Rohstoff AG: Dividend proposal of EUR 1.75 per share for 2023 and share buyback with a volume of up to EUR 4 million

23-Apr-2024 / 15:16 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Dividend proposal of EUR 1.75 per share for 2023 and share buyback with a volume of up to EUR 4 million

The Executive Board and Supervisory Board of Deutsche Rohstoff AG will propose a dividend of EUR 1.75 per share for the 2023 fiscal year at the Annual General Meeting.
The Executive Board has decided to acquire treasury shares with a maximum value of EUR 4 million in the period from 2 May 2024 to 2 May 2025 at the latest. The repurchased shares are to be redeemed.
190,000 share options from the 2018 share option program will be settled in cash, thus avoiding a dilution of just under 4%. The expense will amount to around EUR 3 million. The first 42,500 share options have already been settled in cash in recent months.

End of Inside Information

Information and Explanation of the Issuer to this announcement:

Explanatory part

Group figures for 2023 show high profitability
2023: Revenue EUR 196.7 million, EBITDA EUR 158.3 million
Consolidated net profit after minority interests EUR 65.2 million
Guidance 2024: revenue EUR 210 to 230 million, EBITDA EUR 160 to 180 million
Guidance 2025: revenue EUR 180 to 200 million, EBITDA EUR 125 to 145 million

Deutsche Rohstoff AG today published its final consolidated figures for 2023. The preliminary figures (see press release dated 12 March 2024) were confirmed in full. The annual report for the 2023 fiscal year of Deutsche Rohstoff Group is available on the company's website at www.rohstoff.de.

Jan-Philipp Weitz, CEO, said: "We are pleased to present the annual report today and look back on a very successful 2023. We have successfully shifted our operational focus to Wyoming and have continued to grow strongly. Today, the Executive Board and Supervisory Board have approved by far the most comprehensive package of shareholder return measures in the company's history. A total of around EUR 15.6 million is therefore expected to be spent on dividends, share buybacks and the cash settlement of share options. This corresponds to around EUR 3.15 per share."

Forecast 2024 & 2025

Today, the company is publishing a forecast for 2025 for the first time. It had already raised its forecast for 2024 in mid-April (see ad-hoc press release dated 10 April 2024):

Base scenario 2024:
Group revenue: EUR 210 to 230 million
EBITDA: EUR 160 to 180 million

The Executive Board expects the following revenue and EBITDA figures for the 2025 fiscal year:

Base scenario 2025:
Group revenue: EUR 180 to 200 million
EBITDA: EUR 125 to 145 million

The base scenario for both years is based on an oil price of USD 75/barrel, a gas price of USD 2 and a EUR/USD exchange rate of 1.12 for the remainder of 2024 and 2025.

The company's management report published today also includes a scenario with an oil price of USD 85/barrel and a gas price of USD 3 for the remainder of 2024 and for 2025.

Increased price scenario 2024:
Group revenue: EUR 235 to 255 million
EBITDA: EUR 180 to 200 million

Increased price scenario 2025:
Group revenue: EUR 210 to 230 million
EBITDA: EUR 150 to 170 million

The Executive Board expects to be able to achieve a clearly positive Group result in both years.

Group figures confirm preliminary results; IFRS figures exceed HGB figures

In the 2023 fiscal year, Deutsche Rohstoff Group generated revenue of EUR 196.7 million (forecast: EUR 188 to 198 million; previous year: EUR 165.4 million), earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 158.3 million (forecast: EUR 152 to 162 million; previous year: EUR 139.1 million) and consolidated earnings after minority interests of EUR 65.2 million or EUR 13.02 per share (previous year: EUR 60.8 million or EUR 12.15 per share). Consolidated net profit before minority interests amounted to EUR 67.5 million (previous year: EUR 66.2 million).

As of 31 December 2023, the Group had cash and cash equivalents (bank balances and marketable securities) of around EUR 82.2 million (previous year: EUR 54.2 million) at its disposal. Equity rose to EUR 187.5 million (previous year: EUR 132.4 million) and the equity ratio to 38.0% (previous year: 37.8%). Total assets amounted to EUR 493.8 million (previous year: EUR 350.3 million). Liabilities increased to EUR 204.8 million (previous year: EUR 149.9 million) and provisions to EUR 48.5 million (previous year: EUR 32.7 million). Net financial liabilities (liabilities from bonds and to banks less cash and cash equivalents) increased to EUR 79.1 million (previous year: EUR 55.7 million). The debt ratio (net financial liabilities in relation to EBITDA) was 0.5 (previous year: 0.4).

Operating cash flow amounted to EUR 139.3 million in 2023, while 2023 also marked record investments of around EUR 198 million in wells and pipeline infrastructure. Adjusted for the sale of the Utah acreage and other effects, cash flow from investments amounted to EUR 149.4 million. Free cash flow before financing expenses such as interest, bond repayments and dividends was therefore negative by around EUR 10 million.

The comparison statement in accordance with International Financial Reporting Standards (IFRS) for the fiscal year shows IFRS sales of EUR 208.6 million (+6% compared to HGB), IFRS EBITDA of EUR 165.5 million (+5% compared to HGB) and IFRS consolidated net income of EUR 71.8 million (+10% compared to HGB). A detailed presentation of the effects that led to these results can be found in the Group management report for 2023.

The Executive Board of Deutsche Rohstoff AG will hold a web call on Wednesday, 24 April 2024 at 10:00 a.m. on the results of the 2023 fiscal year. Interested investors can register for the call here. (Please note, that the call will be held in German.)

For the definition of EBITDA, please refer to the homepage of Deutsche Rohstoff AG at https://rohstoff.de/en/apm/.

Mannheim, 23 April 2024

Contact
Deutsche Rohstoff AG
Phone +49 621 490817 0
info@rohstoff.de

23-Apr-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language:	English
Company:	Deutsche Rohstoff AG
	Q7, 24
	68161 Mannheim
	Germany
Phone:	0621 490 817 0
E-mail:	info@rohstoff.de
Internet:	www.rohstoff.de
ISIN:	DE000A0XYG76
WKN:	A0XYG7
Indices:	Scale
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1887277


End of Announcement	EQS News Service

1887277 23-Apr-2024 CET/CEST

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23/04/2024 15:16

DEUTSCHE ROHSTOFF AG (FRA:DR0) EQS-Adhoc: Deutsche Rohstoff AG: Dividend proposal of EUR 1.75 per share for 2023 and share buyback with a volume of up to EUR 4 million

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