Deutsche Rohstoff (DR0) investor relations material

Executive summary

• Maintained profitable growth and operational efficiency, especially in U.S. oil basins, with stable production from 220 wells and strong performance since 2021.

• Revenue and EBITDA declined year-over-year due to lower oil prices and production, but higher oil share, cost reductions, and robust drilling results supported margins.

• Maintained strong liquidity with a significant undrawn credit line and increased cash position, despite market volatility.

• Share price outperformed peers, supported by operational success and the value increase of a strategic investment in Almonte/Almonty Industries.

• Guidance for 2025 remains on track, with confidence in meeting targets and production supported by new wells.

Financial highlights

• H1 2025 revenue was EUR 102.3 million, down 9% year-over-year; EBITDA was EUR 70.5 million, down 16%.

• Net profit for H1 was EUR 15.5 million, a 36–37% decline, impacted by lower oil prices and EUR 5 million in FX and cost effects.

• Operating cash flow rose 5% year-over-year to nearly EUR 90 million, supporting investments and a strong free cash flow of EUR 24.5–25 million.

• Net debt reduced by over 10% to EUR 140–140.4 million; equity ratio remained strong at 40–40.2%.

• Record dividend of EUR 2.00 per share approved; share buyback program of EUR 4 million launched.

Outlook and guidance

• Full-year 2025 revenue guidance is EUR 170–190 million and EBITDA EUR 115–135 million, with H1 already exceeding 50% of annual targets.

• Production guidance for 2025 is 13,500–14,500 BOE/day, with H1 at 13,659–13,700 BOE/day.

• Around 50% of H2 2025 production volumes hedged, providing downside protection.

• Guidance achievable even with a weaker USD; 2026 expected at a similar level, with EUR 90–100 million capex focused on new wells.

• Second half expected to see increased production as new wells come online.