Nearly 500,000 BOE production in the 1st quarter/Strong growth in revenue and EBITDA expected
Mannheim. Deutsche Rohstoff Group generated revenues of EUR 15.6 million in the first quarter of 2018 (Q1 2017: EUR 20.9 million) and earnings before interest, taxes, depreciation and amortization (EBITDA) of 10.6 EUR million (Q1 2017: EUR 17.2 million). The consolidated net income reached EUR 1.1 million (Q1 2017: EUR 5.0 million). The decline compared to the first quarter of 2017 is due to the fact that in the previous year, 21 wells had started production at the beginning of the year. For 2018, it is expected that the second and third quarter will bring the highest sales, as 41 wells were brought into production between February and April, in which the Group holds different working interests.
For the full year, according to the forecast published on May 7, the Management Board expects revenue to increase by 38 – 48% to EUR 75 – 85 million compared to last year and EBITDA to grow by 80 – 90% to EUR 65 – 70 million.
Mannheim, 9 May 2018
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.