DTEK Oil & Gas

Year 2026
Issue Volume ($m) 425
Coupon Rate (% p.a.) 6.75%
Coupon Frequency S/A
Maturity date 12/31/2026
Ratings: Fitch/Moody`s/S&P CC/—/—
Market Price* ($) 69.00
Market YTM* 24.70%
Spread over UST* -
Note: *Based on bid price.
Year 2020 2021 2022E
Net Sales ($m) 274 *** ***
EBITDA ($m) 190 *** ***
Net Income ($m) (114) *** ***
EBIT Coverage Ratio (x) 0.33 *** ***
Net Debt/Equity (%) 825.0% *** ***

Latest news about DTEK Oil & Gas

Sep 29, 2023
| Oil & Gas

DTEK Oil & Gas — Reports weaker profitability amid lower gas prices and declining production

DTEK Oil & Gas (DOG) reported 1H23 net sales of $359m (-21% h-o-h, -46% y-o-y), EBITDA of $163m (-49% h-o-h, -70% y-o-y), and net income of $65m (-41% h-o-h, -73% y-o-y), for an EBITDA margin of 45% (-25pp h-o-h and y-o-y). Net operating cash flow was negative at $7m (vs. +$34m in 2H22 and -$22m in 1H22), mostly due to a $113m working capital charge. Net investment cash outflow stood at $11m (vs $18m in 2H22 and $11m in 1H22), with CAPEX down 17% h-o-h and up 7% y-o-y to $27m. Net financing cash flow came in at zero, vs. -$1m 2H22 and +$8m in 1H22. Cash balances shrank to $5m from $24m as of end-2023 (-77% h-o-h and -65% y-o-y), with total debt remaining unchanged at $425m and net debt thus increasing by 5% h-o-h and 3% y-o-y to $420m. This yields Debt/EBITDA and Net Debt/EBITDA of 1.3x, down from Debt/EBITDA of 0.7x in 2H22 and 0.4x in 1H22 and Net Debt/EBITDA of 0.6x and 0.4x, respectively.
Jun 01, 2023
| Oil & Gas

DTEK Oil & Gas — Reports record profitability in 2022

DTEK Oil & Gas (DOG) reported 2022 net sales of $1.1bn (+88% y-o-y), EBITDA of $853m (+98%), and net income of $355m (+44%), for an EBITDA margin of 77% (+4pp y-o-y). Net operating cash flow stood at a mere $12m, down from $137m in 2021, mostly due to a massive working capital charge of $647m. Net investment cash flow fell by 68% y-o-y to $29m, with CAPEX down 12% to $58m. Net financing cash flow was positive at $7m, vs. -$7m in 2021.
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