Deutsche Rohstoff AG Confirms Record-Breaking Preliminary Results for 2023

Deutsche Rohstoff AG announced its preliminary results for 2023, showcasing a remarkable financial year with revenue and EBITDA surpassing the previous year's figures. The company reported a significant 19% jump in sales, reaching EUR 196.6 million, and a 14% increase in EBITDA, totaling EUR 158.2 million. This financial uptick is complemented by an augmented consolidated net profit after minority interests, which rose to EUR 65.1 million. The earnings per share also saw a 7% increase, amounting to EUR 13.01.

The fourth quarter of 2023 was particularly outstanding for Deutsche Rohstoff AG, marking the strongest quarter in the company's history with a record EUR 64.0 million in sales and EUR 56.5 million in EBITDA. Jan-Philipp Weitz, CEO of Deutsche Rohstoff AG, attributes this success to the company's operational achievements and the record profitability, indicating a robust foundation for continued growth in the coming years.

The enhanced financial performance in 2023 was predominantly driven by a considerable increase in production volumes. Specifically, the company achieved around 15,300 barrels of oil equivalent per day (BOEPD) in Q4 2023, contributing to the year's overall production of approximately 12,700 BOEPD. Additionally, the company realized average prices of USD 74/BBL for oil and USD 2.90/mcf for natural gas after hedges. The higher production volumes primarily facilitated the significant rise in sales and earnings.

Deutsche Rohstoff AG also solidified its financial standing with a strong balance sheet, boasting EUR 82.2 million in cash and cash equivalents and an equity increase to EUR 187.3 million as of 31 December 2023. The company's gearing ratio slightly rose to 0.5 from 0.4 the previous year. CFO Henning Döring expressed confidence in the company's ability to continue its profitable growth and further strengthen its balance sheet structure in 2024.

All reported figures for 2023 are preliminary and unaudited, with the official audited consolidated financial statements expected to be published on 23 April 2024.