Deutsche Rohstoff Ag · XETR:DR0
Deutsche Rohstoff — H1 2024 Earnings Presentation
23 slides from Deutsche Rohstoff's earnings presentation, Aug 15, 2024
Slide 1: Half-year results 1H24
AA Deutsche Rohstoff Half-year results 1H24
Slide 2: Disclaimer
Disclaimer This document is an abridged presentation of important facts of Deutsche Rohstoff AG, Mannheim (DRAG; Company). The document has been prepared and published in its entirety by DRAG. This presentation is not to be construed as investment advice by the Company. This presentation does not co
Slide 3: 1H24 profitability and stability continue
1H24 profitability and stability continue Diversified production base &® Core business oil & gas production in the USA further expanded & 2024 will be the 3rd year in a row with EBITDA above EUR 130m . . . oo Wyoming ® Production continues to rise significantly Colorado ® EUR 512m balance sheet tota
Slide 4: Deutsche Rohstoff Highlights 1H24
Deutsche Rohstoff Highlights 1H24 14.763 soePp EUR T12.2m Produktion 1H24 Record revenue Previous year: 10,533 BOEPD (+40%) Previous year: EUR 75.2m (+49%) Eur 113.8m cur 83.8m Investments EBITDA Previous year: EUR 101.7m (+12 %) Previous year: EUR 56.0m (+50%) EUR2Z12.5m EUR 24.8m Equity Group resu
Slide 5: Production and EBITDA
Production and EBITDA Group production, EBITDA and CAPEX in EURm Mol Micas EBITDA 24 66 139 158 160-180 125-145 CAPEX 49 29 72 149 145-165 100-110 20 18 mBOEPD 14.7-15.7 16 mBOEPD 14 28 2 12 mBOEPD Bio 96 i mBOEPD 8 7 6 mBOEPD 4.2 4 ; = 0 2020 2021 2022 2023 2024e 2025e * Capital expenditure - CAPEX
Slide 6: Stock facts & highlights
Stock facts & highlights Share price increase 20247 Dividend 2024e +18% 1.75 cur Prior-year period: +9% Last year: EUR 1.30 (+35%) Closing price 2024! P/E-Ratio current? 38.60 cur 2.9x Last year: EUR 26.75 (+44%) Last year: 2.3x (+25%) Market capitalization? P/B-Ratio current? EUR 189.2m 0.89x Last
Slide 7: Share price Performance
Share price Performance Share price performance per year in % and mean values in EUR 2019 2020 2021 2022 2023 2024 +9% am 44% 7 +139% am +26% am +25% Mm +13% ae 250% @15.8EUR @9A4EUR @16.2EUR @ 264 EUR @ 28.8EUR @ 36.6 EUR -40% 471% +63% +9% 427% 200% 150% 100% 50% AA Deutsche Rohstoff | 7
Slide 8: Development of DRAG compared to other small-cap companies
Development of DRAG compared to other small-cap companies Share price performance since Jan. 2019 in % 150% << 151% Deutsche Rohstoff 137% Riley Exploration Permian <4 62% Primeenergy Resources 452% SilverBow Resources AA Deutsche Rohstoff |
Slide 9: Deutsche Rohstoff - Highlights 2023
Deutsche Rohstoff - Highlights 2023 February 2024 Reserves Report 2024: Value of oil and gas reserves increases despite record production last year and sale of Utah assets March 2024 10 wells in JV with Oxy enter production April 2024 Increase of 2024 guidance to EUR 210-230 million in revenues and
Slide 10: We produce in two US states with a high level of activity
We produce in two US states with a high level of activity SOUTH DAKOTA io Powder River Basin on) | <*; 1876 ww . ‘ wats (¢) SALT CREEK Discas WYOMING ; | es) WYOMING BSS Bell corcrav0 NEBRASKA i) COLORADO GE f noc | 7 @ 1876 @ Genzerex @-ELSTER. @ aesounces OTLGAS nee AA Deutsche Rohstoff | 10
Slide 11: Powder River Basin 1H24
Powder River Basin 1H24 1H24 (Q)SALT CREEK OIL+GAS oxy tw 1876 RESOURCES Yvoming il a hae | Focus on the development of the approx. 34,800 acres (140.83 km2) land package in Wyoming June: Completion of the drilling program & production of 3 wells Successful completion of the remaining 10 wells of th
Slide 12: Half-year sales, EBITDA and equity at record levels
Half-year sales, EBITDA and equity at record levels (€ Record revenue 49,2% — 4 12,2 Record EBITDA 49,6% —7 83,8 1H23 1H24 1H23 1H24 Record equity z= 39,8% —7 212,5 1H23 1H24 — Sales rose due to the increase in the volume of oil and gas production and the positive development of the WTI oil price —
Slide 13: Produced quantities and realized prices
Produced quantities and realized prices Volume by product ( Realized price & EUR/USD & USD/EUR in thousands after hedges in USD exchange rate 40,2% 2,3% 186%: | [ | [ | ("| Bin 1H24 ; 2.672 72,21 eR -35,9% Ke 1,071 er 0.934 1.906 | | 3,36 215 — BOE Oil Gas USD per EUR EUR per USD — Yoyincrease in pr
Slide 14: Revenue share by product and volume by region
Revenue share by product and volume by region ( Revenue by product in EURm Revenue share Per state in % Revenue share (e ; by product in % 78.0%) rox) a | jena 108,918 83% 58% 52% 16.2% 42% 60,910 [ | 16,731 W% Oil Gas & NGL Wyoming Colorado Oil Gas & NGL — Oilsales grow by +79%, sales from gas & NG
Slide 15: Group key financials 1H24
Group key financials 1H24 Income statement items Balance sheet & Cash Flow items EURm 1H24 1H23 1in% EURm 1H24 1H23 rin% Revenue 112.2 75.2 49.2% Other operating income 25 3.8 339% Balance sheet total 511.9 389.8 31.3% Cost of materials 19.6 14.6 34.3% Property. plant and 387.8 268.9 44.2% equipment
Slide 16: Forecast 2024 & 2025
Forecast 2024 & 2025 Forecast figures Base scenario 2024e Volume — 14,700-15,700 BOEPD 2024e 2025e — Ofwhich 8,800-9,400 BOPD Revenue EURm 210-230 180-200 ATO au 160-180 125445 2024e Share of revenue Underlying assumptions: — Oil 80-85% Oil price USD 75 7S — Gas and NGL 15-20% Gas price USD 2 2 USD/
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Slide 18: Glossary
Glossary BO or BBL Barrel of oil or barrel BOE Barrels of oil equivalent (oil, gas, NGLs) BOEPD/BOPD Barrels of oil equivalent per day/barrels of oil per day Brent Brent is a European crude oil grade CAPEX Capital Expenditure (defined as Investing Cash Flow for reasons of simplification) CF Cash Flo
Slide 19: Glossary
Glossary Market capitalization: Refers to the total market value of a company's outstanding shares Millions of barrels of oil per day Thousand cubic feet Million Miles Million British Thermal Units Metric tons Liquid gas: ethane, propane, butane Organization of the petroleum exporting countries Oper
Slide 20: Appendix
Appendix einai
Slide 21: Consolidated balance sheet 30.06.2024
Consolidated balance sheet 30.06.2024 30.08.2023 sin.2023 ASSETS TEUR in% TEUR in% TEUR in% A. FIXED ASSETS 442,334 86% 334,766 86% 371,731 75% |, Intangible assets 23,034 5% 32,096 8% 23,547 5% Il. Property, plant and equipment 387,811 76% 268,908 69% 317,615 64% Ill. financial assets 31,488 6% 33,
Slide 22: Income statement
Income statement 30.06.2023 30.06.2023 31.12.2023 TEUR in% TEUR in% TEUR in% 1, REVENUE 112,180 100% 75,183 100% 196,651 100% 2. INCREASE OR DECREASE IN FINISHED GOODS AND WORK IN PROCESS, oO 0% 0 0% 29° 0% 3. OTHER OPERATING INCOME 2,532 2% 3,828 5% 20,553 10% 4, COST OF MATERIALS 19,632 18% 14,620
Slide 23: Cash flow statement
+/- 30.06.2024 30.06.2023 31.12.2023, Cash flow statement aun eum eum Result for the period (consolidated net profit/loss for the year including profit/loss attributable to non-controlling interests) 25,964 21,919 67,483 Depreciation / write-ups on fixed assets 44,131 23,236 63,384 Increase / decrea