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Exhibit 99.1
MONTAUK RENEWABLES, INC.
Incorporated in the United States of America
Company number: 85-3189583
NASDAQ share code: MNTK
JSE share code: MKR
ISIN: US61218C1036
(“Montauk Renewables” or the “Company”)
UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 30 June 2021
Dollar amounts presented herein are in United States Dollars
SALIENT FEATURES
| Six months Ended 30 June 2021 |
Six months ended 30 June 2020 |
Percentage change |
||||||||||||||
| Revenue |
($‘000 | ) | 63 121 | 46 312 | 36 | % | ||||||||||
| EBITDA |
($‘000 | ) | (1 388 | ) | 11 396 | (112 | %) | |||||||||
| Headline (loss)/profit |
($‘000 | ) | (18 483 | ) | ||||||||||||
| (Loss)/earnings per share |
(S | ) | (0.13 | ) | ||||||||||||
| Headline (loss)/earnings per common share |
(S | ) | (0.13 | ) | ||||||||||||
| Net asset value per common share |
(S | ) | 1.15 | |||||||||||||
DECLARATION OF CASH DIVIDEND
The directors have not declared an interim dividend to focus financial resources on the continued development of the Company’s operations portfolio.
USE OF NON-GAAP MEASURES
This report was prepared for the purpose of complying with the reporting requirements of the Johannesburg Stock Exchange and includes certain non-GAAP measures, such as headline earnings and headline earnings per common share, and related reconciliations.
Reconciliation of headline earnings
| 2021 | ||||||||
| Gross | Net | |||||||
| Reconciliation of headline earnings |
$’000 | $’000 | ||||||
| Net (loss)/profit attributable to common shareholders |
(18 917 | ) | ||||||
| Adjustments |
||||||||
| Loss on disposal of plant and equipment |
22 | 17 | ||||||
| Impairment of plant and equipment |
626 | 480 | ||||||
| Impairment of intangible assets |
— | — | ||||||
| Third party compensation received in respect of impairment of plant and equipment |
(82 | ) | (63 | ) | ||||
| Headline earnings |
(18 483 | ) | ||||||
| Basic earnings per common share (US cents) |
||||||||
| Earnings |
(0.13 | ) | ||||||
| Headline earnings |
(0.13 | ) | ||||||
| Weighted-average common shares outstanding (‘000) (1) |
141 015 | |||||||
| Diluted earnings per common share (US cents) |
||||||||
| Earnings |
(0.13 | ) | ||||||
| Headline earnings |
(0.13 | ) | ||||||
| Weighted-average common shares outstanding for diluted earnings |
141 015 | |||||||
| (1) | The common stock outstanding as of June 30, 2021 is as reported in the quarterly report on Form 10-Q for the period ending June 30, 2021, filed with the Securities and Exchange Commission on August 16, 2021. |
DIRECTORS’ STATEMENT
This short-form announcement is the responsibility of the Company’s Board of Directors and isa summary of the information in the detailed financial results announcement.
The financial information is only a summary and does not contain full details of the financial results. Any investment decisions by investors and/or stockholders should be based on information
contained in the full announcement, accessible from 16 August 2021, via the JSE link (https://senspdf.jse.co.za/documents/2021/jse/isse/MKR/MKRQ2.pdf) or on the SEC’s website at https://www.sec.gov/Archives/edgar/data/1826600/000119312521247857/0001193125-21-247857-index.htm
The full announcement is also available at the Company’s registered office, the offices of the sponsor and may be requested at investor@montaukenergy.com or MNTK@GatewayIR.com free of charge to investors and/or shareholders, during office hours (09:00 - 17:00) from Mondays to Fridays.
17 August 2021
Directors: JA Copelyn (Chairman)*###, SF McClain (Chief Executive Officer)#, MH Ahmed*, TG Govender*###, MA Jacobson*##, BS Raynor*#, Y Shaik*###
| * | Non-executive; #United States of America; ##Australia; ### Republic of South Africa |
Company secretary: J Ciroli
Registered office: 680 Andersen Drive, 5th Floor, Pittsburgh, PA 15220 Website: https://ir.montaukrenewables.com/
Sponsor:
Investec Bank Limited
