Deutsche Rohstoff AG: Consolidated net income rises to EUR 17.9 million
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Mannheim. In fiscal year 2018, the Deutsche Rohstoff Group generated sales of EUR 109.1 million (previous year: EUR 53.7 million) and earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 96.6 million (previous year: EUR 36.6 million). Sales were thus at the upper end of the November forecast of EUR 100 to 110 million. The EBITDA, which the Management Board had expected in November at around EUR 90 million, was again exceeded. According to preliminary figures, the consolidated result amounts to EUR 17.9 million (previous year: EUR 7.7 million) and EBIT (earnings before interest and taxes) to EUR 32.9 million (previous year: EUR 5.3 million).
Cash and cash equivalents (bank balances and securities held as current assets) amounted to around EUR 60 million (previous year: EUR 30 million) as of December 31, 2018. Equity rose to EUR 77.4 million (previous year: EUR 56.7 million), so that the equity ratio increased from 27% to 34%. Liabilities dropped to EUR 116.2 million (previous year: EUR 121.9 million).
All figures for 2018 are preliminary and unaudited. Deutsche Rohstoff AG expects to publish the audited consolidated financial statements and the annual report on May 6, 2019.
Thomas Gutschlag, CEO of Deutsche Rohstoff, commented: "2018 was an operationally strong year for the Deutsche Rohstoff Group. The investments of USD 145 million in 2017 and 2018 have paid off. The simultaneous start of production of numerous wells with high initial production at the beginning of 2018 resulted in correspondingly high sales and earnings. The main profit drivers were very good production at Elster and the sale of the main assets at Salt Creek. In the current year, we want to lay the foundations for renewed growth in the following years."
Mannheim, 11 March 2019
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
Dr. Thomas Gutschlag
Tel. +49 621 490817 0
info@rohstoff.de