Deutsche Rohstoff (DR0) Q1 2026 earnings summary

Executive summary

• Achieved record financial results in Q1 2026, driven by operational expansion and a significant gain from the partial sale of Almonty Industries shares.

• Accelerated drilling program with 26 gross wells and nine additional non-operated wells planned, supporting future growth.

• Cash and cash equivalents more than doubled since year-end 2025, with leverage (Net Debt/EBITDA) halved to 0.4x.

• Share price reached multiple all-time highs, rising ~100% YTD, with increased trading liquidity and a broader investor base.

Financial highlights

• Revenue for Q1 2026 was EUR 43.9 million, down 26% year-over-year; EBITDA surged 192% to EUR 126.0 million, mainly due to a EUR 97 million gain from the Almonty Industries share sale.

• Net income reached EUR 104.1 million, up from EUR 13.4 million in Q1 2025; EPS rose to EUR 21.59 from EUR 2.55.

• Operating cash flow was EUR 28.3 million, down 37% year-over-year.

• Equity increased to EUR 331.9 million, with an equity ratio of 47.8%.

• Production averaged 12,322 BOEPD, down 15% year-over-year.

Outlook and guidance

• EBITDA guidance for 2026 is EUR 290–310 million at $75/bbl oil, or EUR 320–340 million at $85/bbl.

• Revenue for 2026 expected between EUR 260–310 million; capital expenditures to rise to EUR 215–235 million.

• Production expected to exceed 20,000 BOEPD in the second half of 2026.