Montauk Renewables, Inc. · NASDAQ:MNTK
Montauk Renewables — Q1 2024 Earnings Presentation
17 slides from Montauk Renewables's earnings presentation, May 9, 2024
Slide 1: Investor Presentation First Quarter 2024 Results
Investor Presentation FIRST QUARTER 2024 RESULTS MAY 9, 2024
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, 2024
Operational Results – Quarter Ended March 31, 2024 (in thousands, unless otherwise indicated) All comparisons are between the first quarter ended March 31, 2024 and the first quarter ended March 31, 2023, unless otherwise indicated Renewable Natural Gas (“RNG”) Metrics – 59 MMBtu increased 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 income include: – $249 provision for deferred income taxes – $4,935 adjustments to working capital and other assets and liabilities – $2,241 accounting for stock-based compensation Investing activities highlights incl
Slide 8: RINs Generated but Unsold
Business Development RINs Generated but Unsold (in thousands, unless otherwise indicated) First Quarter 2024 Highlights – Strategic decision to not commit to transfer all available D3 RINs generated and available for transfer from 2024 RNG production – Approximately 3,351 RINs in inventory from 2024
Slide 9: Capital Development Summary
Business Development Capital Development Summary (in thousands, unless otherwise indicated) The following summarizes our ongoing development growth plans expected capacity contribution, anticipated commencement of operations, and capital expenditure estimate, respectively, excluding Montauk Ag Renew
Slide 10: Pico Feedstock Amendment
Business Development Pico Feedstock Amendment (in thousands, unless otherwise indicated) First Quarter 2024 Highlights – Successfully commissioned the last of our digestion capacity – Produced 39% more MMBtu more in first quarter of 2024 compared to first quarter of 2023 – Expect dairy to deliver fi
Slide 11: RNG Facility Developments
Business Development RNG Facility Developments – First Quarter 2024 Highlights Second Apex RNG Facility: – Currently expect commercial operations in first quarter of 2025 Blue Granite RNG Facility: – Continue to review various alternatives related to interconnection opportunities – Expect commercial
Slide 12: Montauk Ag Renewables
Business Development Montauk Ag Renewables First Quarter 2024 Highlights – In March 2024, submitted an amendment to our New Renewable Energy Facility application with NCUC – Signed a feedstock supply agreement which includes our ability to access more than twice the hog spaces we are currently contr
Slide 13: Carbon Dioxide Beneficial Use Opportunity
Business Development Carbon Dioxide Beneficial Use Opportunity (in thousands, unless otherwise indicated) First Quarter 2024 Highlights – Signed contract for delivery of 140 tons per year of biogenic carbon dioxide (“CO2”) with a North American subsidiary of Denmark-based European Energy (“EENA”) –
Slide 14: REG Facility Sale
Business Development REG Facility Sale (in thousands, unless otherwise indicated) First Quarter 2024 Highlights – Agreement reached with site host to sell gas rights ahead of fuel supply expiration effective October 1, 2024 • Proceeds of $1,000 • No longer required to decommission or remove machiner
Slide 15: 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 and CNG distribution opportunities in various stages of evaluation – Exploring wastewater treatment to RNG project opportunities
Slide 16: Appendix
Appendix MONTAUK
Slide 17: Non-GAAP Reconciliation: EBITDA and Adjusted EBITDA
Non-GAAP Reconciliation EBITDA and Adjusted EBITDA 17