Over 1 million barrels of oil equivalent/EUR 23.5 million EBITDA
Mannheim. Deutsche Rohstoff Group generated sales of EUR 32.1 million in the first half-year of 2017 (second quarter: EUR 11.2 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 23.5 million (second quarter: EUR 6.3 million). The group's profit remains at EUR 5.0 million for the second quarter. All figures are preliminary and unaudited.
Deutsche Rohstoff AG will publish the complete half-year report on 29 September 2017.
Sales and earnings were almost entirely generated by the US subsidiaries due to the still very stable oil and gas production. In total, 1,000,764 barrels of oil equivalent (BOE) were produced in the first half of 2017, of which 654,408 barrels are oil, the remainder represents natural gas and condensates. The average daily production of the Group in the first half of 2017 therefore amounted to 5,529 BOE. All amounts comply to the net share of the US-subsidiaries after shares for third parties.
Regular depreciation in the first half year of 2017 amounted to EUR 15.2 million. A negative effect had the debasement of the US-Dollar against the Euro. It resulted in substantially unrealized currency losses of around EUR 3.0 million.
Mannheim, 14 August 2017
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
Thomas Gutschlag
Tel. +49 621 490 817 0
info@rohstoff.de
