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De Raj Group AG (AT)

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DGAP-News News vom 29.05.2018

De Raj Group AG started successful into fiscal year 2018

DGAP-News: De Raj Group AG / Key word(s): Quarterly / Interim Statement/Incoming Orders

29.05.2018 / 15:09
The issuer is solely responsible for the content of this announcement.

De Raj Group AG started into fiscal year 2018 gaining long-term contract valued USD 386 million resulting in an order backlog of EUR 331 million at 31 March 2018

Cologne, 29 May 2018:
The De Raj Group AG, Cologne, (ISIN: DE000A2GSWR1, Vienna Stock Exchange) started into fiscal year 2018 gaining a long-term contract for a Floating Production Unit (FPU) offshore Indonesian waters for an international client in March 2018. The contract valued at USD 386.3 million is a Build Own Operate and Lease (BOOL) model for a fixed period of ten years, which will provide additional long-term steady revenue of USD 39 million per year to De Raj Group once it becomes operational in the later part of 2019. Order backlog of EUR 331 million at end of first quarter 2018 (31 March) benefitted from this new order.

The De Raj Group AG finished its first quarter 2018 with revenue of EUR 3.4 million, a gross profit of EUR 1.8 million, an operating result (EBIT) on Group level of EUR 0.5 million resulting in a net profit of EUR 0.2 million in line with planning. Equity ratio increased from 80% at year-end 2017 to 82% backing future growth perspectives.

In the coming quarters in 2018, Management expects to add to the order book a green project from the Malaysian Government, valued at USD 240 million for a seven-year period involving the change out of street lighting to LED lights on Federal Roads. This Government initiative has had very good results from a pilot project valued at USD 25 million undertaken over a seven-year period by our partner.

De Raj Group's total personnel of 62 employees as of 31 March 2018 were split into 34 employees based in Indonesia (all of them are crew members for the rigs) and 28 employees based in Malaysia (15 of them represent management functions and 13 of them are engineers).

The complete Q1/3M 2018 Interim Statement is available and could be downloaded at:

About the De Raj Group:
The De Raj Group AG is listed in the market segment "Standard Market Auction" on the EU-regulated market (Amtlicher Handel) of the Vienna Stock Exchange (Wiener Börse) since February 8th, 2018. The shares are also listed since March 23rd, 2018 at the Open Market in Frankfurt / Main and at XETRA of Deutsche Börse AG.

The De Raj Group is strong in the Oil & Gas sector and Power Generation sector, where it owns and operates strategic equipment/facilities in both of these sectors which are provided on mid- to long-term lease to the market. In the Power sector, it is involved in both conventional power generation and CHP (Combined Heat and Power) generation. The Group owns a diversified portfolio of contracted renewable and conventional power generation assets in Europe and is embarking on an international expansion plan in the Middle East and the Asia Pacific region. The German power division is the owner of 13 CHP plants spread throughout Germany. These CHP Plants generate electricity, which is fed into the public power grid, and the produced heat is delivered to nearby greenhouses.

The Oil & Gas division of the Group provides specialist services supported by IP patents for the full spectrum of the upstream Oil & Gas supply chain, particularly in the South East Asian region. The Group owns a diversified portfolio of assets comprising jack-up rigs and topside equipment. These jack-up rigs, with the readily available equipment can be modified quickly to suit client requirements for offshore facilities in the development of marginal fields, including as well enhancement of production in producing fields. This supports very well Oil companies desire for early monetisation of hydrocarbon with cost effective solutions.

For further information:
De Raj Group AG
Investor Relations
Jörg Peters
Phone: +49 6171 919 24 40
mailto: [email protected]

Issuer: De Raj Group AG
Christophstr. 15-17
D-50670 Cologne
Phone: +49 221 299 85 07
FAX: +49 221 299 85 08
mailto: [email protected]
Stock market: Vienna Stock Exchange, Standard Market Auction
Deutsche Börse, XETRA and Open Market
Index: WBI Wiener Börse Index (All Share Index Vienna Stock Exchange)
Language: English

29.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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