Deutsche Rohstoff AG Reports Record Half-Year Sales and EBITDA

Deutsche Rohstoff AG has achieved record sales of EUR 112 million and an EBITDA of EUR 84 million for the first half of 2024. This marks substantial growth compared to the previous year, with sales rising from EUR 75.1 million and EBITDA from EUR 56.0 million.

The company's half-year production reached a record 14,763 barrels of oil equivalent per day (BOEPD), contributing to a consolidated net profit of EUR 24.8 million. Guidance for 2024 remains strong, with projected sales between EUR 210 million and EUR 230 million, and an EBITDA range of EUR 160 million to EUR 180 million, based on a WTI oil price of USD 75.

Investments in the first half amounted to EUR 113.8 million, primarily in oil and gas wells. Operating costs remained stable at USD 7.94 per BOE. CEO Jan-Philipp Weitz noted the company's continued positive development.

Deutsche Rohstoff's equity rose to EUR 212.5 million, up from EUR 187.5 million at the end of 2023. Net debt increased to EUR 126.0 million. The higher production led to increased material costs of EUR 19.6 million.

The company's four US subsidiaries produced an average of 14,763 BOEPD in the first half, totaling 2.7 million BOE. Crude oil accounted for 1.56 million barrels of this production. The half-year report is available on the company's website.