The shares of Deutsche Rohstoff AG have recently risen sharply and reached new highs, but remain volatile after the rally.
• German raw materials shares have jumped in price since the beginning of the year
• Forecast 2026 raised
• Growth through rising oil prices, US expansion and accelerated drilling program
German raw materials shares in focus
The shares of Deutsche Rohstoff AG have risen sharply in recent months and have recently reached new highs. On April 7th, the share price in XETRA trading peaked at 103.00 euros. Although the shares have come back somewhat since then and recently cost 87.00 euros, they have still increased by almost 78 percent since the beginning of the year – at the end of 2025 the shares were still trading below the 50 euro mark (as of: closing price on April 20, 2026).
The development was driven primarily by the sharp rise in oil prices and the company’s increasing expansion in the US market.
Analysts continue to see potential: As Deutsche Börse reported, MWB Research classifies the share as undervalued and names a price target of 129 euros. Weak exchange rates as a result of falling oil prices are seen as attractive buying opportunities. First Berlin has lowered its price target from 139 to 124 euros, but is also sticking with a buy recommendation.
Preliminary figures for 2025
In March, Deutsche Rohstoff AG published preliminary figures for 2025. According to them, the company achieved sales of 195.1 million euros, around 3 percent above the upper end of its own forecast range of 170 to 190 million euros. However, this represents a decline compared to the previous year, in which sales amounted to 235.4 million euros. EBITDA amounted to 132.0 million euros, reaching the upper end of the expected range of 115 to 135 million euros. The year before, this value was 167.6 million euros. The consolidated result fell to 28.9 million euros, after 50.2 million euros in the previous year. Earnings per share also fell accordingly to 6.03 euros, after previously achieving 10.26 euros. Group equity was around 220 million euros, below the previous year’s figure of 237.5 million euros. However, the operating free cash flow developed positively, amounting to around 25 million euros.
Acceleration of drilling program
Deutsche Rohstoff AG also announced in March that it would expand its activities in the USA: The subsidiary 1876 Resources will be operating two drilling rigs in Wyoming in the future.
If oil prices continue to be significantly higher than last year’s level of around $65, the number of drillings could rise to over 20 in 2026, the company said. In this case, longer use of both drilling rigs into the fourth quarter or beyond would also be conceivable.
At the same time, the non-operated joint venture of Salt Creek Oil & Gas is developing positively. The start of production of nine Niobrara wells is planned for the middle of the year, in which around 40 million US dollars will be invested.
Forecast 2026 raised
At the beginning of April, the company also raised its expectations for 2026. In the base scenario, an EBITDA of between 290 and 310 million euros is now forecast, after 115 to 135 million euros had previously been forecast. In this scenario, sales are expected to reach 260 to 280 million euros, compared to the previous range of 170 to 190 million euros. The basis is adjusted price assumptions of $75 for WTI oil, $3.50 for gas and a EUR/USD exchange rate of 1.15 (previously: $60 for WTI, $3.00 for gas and 1.10 EUR/USD).
In the more optimistic scenario, the company expects an EBITDA of 320 to 340 million euros instead of the previous 125 to 145 million euros. Sales here are expected to be in a range of 290 to 310 million euros, after previously 180 to 200 million euros. The underlying assumptions have also been raised and are now $85 for WTI oil, $4.00 for gas and a EUR/USD rate of 1.15 (previously: $70 WTI, $3.00 gas and 1.10 EUR/USD).
Investors are now likely to wait for the audited consolidated financial statements and annual report to be presented on April 23, during which further figures and details on the forecast as well as a forecast for the 2027 financial year will be published, as the company explained.
Julia Walter, editorial team at finanzen.net
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