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Audited consolidated results for the fiscal year ended 31 December 2021
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”)
AUDITED CONSOLIDATED RESULTS
For the fiscal year ended 31 December 2021
Dollar amounts presented herein are in United States Dollars
For the year For the year
ended 31 December ended 31 December Percentage
SALIENT FEATURES 2021 2020 Change
Revenue ($’000) 148 127 100 383 48%
EBITDA ($’000) 25 430 25 063 1%
Headline (loss)/profit ($’000) (2 938) 3 823 (177%)
Basic (loss)/earnings per share ($) (0.03) 0.03 (198%)
Headline (loss)/earnings per common share ($) (0.02) 0.03 (176%)
Net asset value per common share ($) 1.29 1.13 14%
DECLARATION OF CASH DIVIDEND
The directors have resolved not to declare a final 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 (loss) / earnings
2021 2020
Gross $’000 Net $’000 Gross $’000 Net $’000
Net (loss) / income attributable to common shareholders (4 528) 4 603
Adjustments
Loss/(gains) on disposal of plant and equipment 822 649 (1 339) (1 058)
Impairment of plant and equipment 1 191 941 — —
Impairment of intangible assets — — 278 278
Headline (loss) / earnings (2 938) 3 823
Basic and headline (loss) / earnings per common share (US Dollars)
(Loss) / earnings (0.03) 0.03
Headline (loss) / earnings (3) (0.02) 0.03
Weighted-average common shares outstanding (‘000)(1)(2) 141 015 140 663
Diluted (loss) / earnings per common share (US Dollars)
(Loss) / earnings (3) (0.03) 0.03
Headline (loss) / earnings (3) (0.02) 0.03
Weighted-average common shares outstanding for diluted earnings (‘000)(1)
(2)(3) 144 913 141 058
(1) The common share outstanding as of December 31, 2021 is as reported in the annual report on Form 10-K for the fiscal year ended December 31,
2021, filed with the Securities and Exchange Commission on March 16, 2022.
(2) On January 26, 2021, the Company closed its IPO. The pro forma adjustments give effect to per share data as if the IPO and associated
transactions had occurred at the year ended December 31, 2020 using share amounts at the time of the IPO.
(3) The December 31, 2021 per share indicators were determined by applying International Financial Reporting Standards.
DIRECTORS’ STATEMENT
This short-form announcement is the responsibility of the Company’s Board of Directors and is a 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
shareholders should be based on information contained in the full announcement, accessible from 16 March 2022, via the JSE link
(https://senspdf.jse.co.za/documents/2022/jse/isse/MKRE/YE21.pdf) or on the SEC’s website at
(https://www.sec.gov/Archives/edgar/data/0001826600/000119312522077310/0001193125-22-077310-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@montaukrenewables.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 March 2022
Directors: JA Copelyn (Chairman)*###, SF McClain (Chief Executive Officer)#, MH Ahmed*, TG Govender*###, MA Jacobson*##, J Cunningham*#,
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
Date: 17-03-2022 07:05:00
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