Montauk Renewables, Inc. · NASDAQ:MNTK
Montauk Renewables — Q1 2023 Earnings Presentation
15 slides from Montauk Renewables's earnings presentation, May 10, 2023
Slide 1: Investor Presentation: First Quarter 2023 Results
Investor Presentation FIRST QUARTER 2023 RESULTS MAY 10, 2023
Slide 2: Cautionary Statement Regarding Forward-Looking and non-GAAP Financial Information
Cautionary Statement Regarding Forward-Looking and non-GAAP Financial Information This presentation contains “forward-looking statements” within the meaning of U.S. federal securities laws. Such statements include, among others, those we make relating to our estimated and projected financial conditi
Slide 3: Financial Performance: Income Statement
Financial Performance Income Statement 3
Slide 4: Operational Results – Quarter Ended March 31, 2023
Operational Results – Quarter Ended March 31, 2023 (in thousands, unless otherwise indicated) All comparisons are between the first quarter ended March 31, 2023 and the first quarter ended March 31, 2022, unless otherwise indicated Renewable Natural Gas (“RNG”) Metrics – 17 MMBtu decreased productio
Slide 5: Operational Performance: Operating Metrics
Operational Performance Operating Metrics 5
Slide 6: Financial Performance: Balance Sheet
Financial Performance Balance Sheet 6
Slide 7: Cash Flow
Cash Flow (in thousands, unless otherwise indicated) Operating items affecting net loss include: – $(13,033) benefit for deferred income taxes – $1,770 accounting for stock-based compensation Investing activities include: – $5,440 capital expenditures for Pico Expansion Project – $2,689 capital expe
Slide 8: Business Development: RINs Generated but Unsold
Business Development RINs Generated but Unsold (in thousands, unless otherwise indicated) First Quarter 2023 Highlights – Strategic decision to not commit to transfer available D3 RINs generated and available for transfer from 2023 RNG production until 2023 second quarter – Approximately 7,325 RINs
Slide 9: Business Development: Pico Feedstock Amendment
Business Development Pico Feedstock Amendment First Quarter 2023 Highlights – CARB finalized the engineering review of the Pico facility’s provisional CI application and released it for public comment • Public comment ended March 14, 2023 with no significant comments – CARB certified our Tier 2 appl
Slide 10: Business Development: Blue Granite RNG Project
Business Development Blue Granite RNG Project First Quarter 2023 Highlights – Announced planned entrance into South Carolina with the development of a new landfill gas-to-RNG facility – Expect 900 MMBtu per day of production capacity – Currently expect commercial operations in 2025 10
Slide 11: Business Development: Montauk Ag Renewables
Business Development Montauk Ag Renewables First Quarter 2023 Highlights – Magnolia, NC reactor technology relocated to Turkey, NC to centralize processing at one location – Turkey, NC location has been approved to participate in the Piedmont Natural Gas Renewable Gas Pilot Program – Continuing to w
Slide 12: Business Development: Bowerman Power RNG Expansion Project
Business Development Bowerman Power RNG Expansion Project First Quarter 2023 Highlights – Entered late stages of negotiation of a development opportunity to develop, own, and operate an RNG facility alongside our existing REG facility – Estimated 2,485 MMBtu per day of excess feedstock 12
Slide 13: Strategic Growth Opportunity Pipeline
Business Development Strategic Growth Opportunity Pipeline Positioned for continued growth, with on-going evaluation of various strategic opportunities: – Multiple LFG RNG sites in various stages of evaluation • Currently contemplates generating renewable electricity to qualify for eRINs – Exploring
Slide 14: Appendix
Appendix MONTAUK
Slide 15: Non-GAAP Reconciliation: EBITDA and Adjusted EBITDA
Non-GAAP Reconciliation EBITDA and Adjusted EBITDA 15