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 CONSOLIDATED RESULTS
For the six months ended 30 June 2025
Dollar amounts presented herein are in United States Dollars
SALIENT FEATURES
| 2025 Six months Ended 30 June |
2024 Six months Ended 30 June |
Percentage change |
||||||||||||||
| Revenue |
($‘000) | 87 730 | 82 125 | 7 | % | |||||||||||
| EBITDA |
($‘000) | 11 360 | 15 603 | (27 | %) | |||||||||||
| Headline (loss)/ earnings |
($‘000) | (4 008 | ) | 1 601 | (350 | %) | ||||||||||
| (Loss) / earnings per share |
($) | (0.04 | ) | 0.01 | (500 | %) | ||||||||||
| Headline (loss) / earnings per common share |
($) | (0.03 | ) | 0.01 | (400 | %) | ||||||||||
| Net asset value per common share |
($) | 1.78 | 1.80 | (1 | %) | |||||||||||
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 earnings
| 2025 Six months Ended 30 June |
2024 Six months Ended 30 June |
|||||||||||||||
| Gross $‘000 | Net $‘000 | Gross $‘000 | Net $‘000 | |||||||||||||
| Net (loss) / income attributable to common shareholders |
(5 951 | ) | 1 138 | |||||||||||||
| Adjustments |
||||||||||||||||
| Loss on disposal of plant and Equipment |
36 | 28 | 71 | 43 | ||||||||||||
| Impairment of plant and equipment |
2 424 | 1 915 | 699 | 420 | ||||||||||||
| Headline (loss) / earnings |
(4 008 | ) | 1 601 | |||||||||||||
| Basic and headline earnings per common share (US Dollars) |
||||||||||||||||
| Earnings |
|
(0.04 | ) | 0.01 | ||||||||||||
| Headline earnings |
(0.03 | ) | 0.01 | |||||||||||||
| Weighted-average common shares outstanding (‘000)(1) |
142 875 | 142 028 | ||||||||||||||
| Diluted earnings per common share (US Dollars) |
||||||||||||||||
| Earnings |
(0.04 | ) | 0.01 | |||||||||||||
| Headline earnings |
(0.03 | ) | 0.01 | |||||||||||||
| Weighted-average common shares outstanding for diluted (‘000) |
142 875 | 142 252 | ||||||||||||||
| (1) | The common share outstanding as of June 30, 2025 is as reported in the quarterly report on Form 10-Q for the fiscal quarter ended June 30, 2025, filed with the Securities and Exchange Commission on August 6, 2025. |
FORM 10-Q QUARTERLY REPORT and FORM 8-K CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934, Montauk Renewables stockholders are advised that a Form 10-Q and Form 8-K has been filed with the SEC. The Form 10-Q disclose the quarterly results and related disclosures for the quarterly period ended 30 June 2025. The Form 8-K discloses the press release announcing the quarterly results for the second quarter ended 30 June 2025.
A copy of the Form 10-Q can be found at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1826600/000095017025104181/mntk-20250630.htm
A copy of the Form 8-K can be found at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1826600/000095017025104161/mntk-20250806.htm
DIRECTORS’ STATEMENT
This short-form announcement is the responsibility of the Company’s Board of Directors.
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 August 7, 2025, via the JSE link (https://senspdf.jse.co.za/documents/2025/jse/isse/MKRE/HY25.pdf). The full announcement is also available at the Company’s registered office and may be requested at info@montaukenergy.com free of charge to investors and/or shareholders, during office hours (09:00—17:00) from Mondays to Fridays.
August 7, 2025
Directors: JA Copelyn (Chairman)*###, SF McClain (Chief Executive Officer)#,
MH Ahmed*###, TG Govender*###, J Cunningham*#, Y Shaik* ###
| * | Non-executive; #United States of America; ### Republic of South Africa |
Company secretary: J Ciroli
Registered office: 5313 Campbells Run Road, Suite 200, Pittsburgh, PA 15205
Website: https://ir.montaukrenewables.com/
Montauk Renewables is primary listed on the Nasdaq and secondary listed on the JSE.
Sponsor:
Investec Bank Limited