Montauk Energy | Off to a flyer
Montauk Energy delivered a strong set of FY ‘18a results. Revenue increased by c.22.5% y/y to $109.1m. EBITDA increased by c.42.3% y/y to $53.3m. All of Montauk's RNG sites have agreements with terms of 15 or more years. Montauk's electrical sites which have agreements in place with terms of 10 or more years, constitute 89.8% of its total electrical sites.The current Presidential Administration has affected the stabilisation of the RIN market, resulting in price volatility and limited ability to sell RINs on a forward basis. We estimate a one-year total return of 34.5%; a 20.3% outperformance relative to the benchmark. We maintain our OUTPERFORM rating.
Montauk Holdings Limited is a South Africa-based investment holding company. The Company is engaged in the development and operation of large-scale renewable energy projects utilizing landfill gas (LFG) in the United States. Its operations include the permitting, design, construction and operation of energy facilities utilizing LFG. The Company specializes in pipeline quality gas production; electric power generation; carbon reduction and offset credits; renewable energy credits, and LFG collection system operations. It has an operational platform of renewable energy projects in the United States, where the Company operates approximately 14 LFG sites. It offers services in the development, operation and management of LFG fuelled renewable energy projects through the provision of a service spanning operations, regulatory compliance, engineering, construction and back-office functions. The Company's subsidiaries include Montauk Holdings USA LLC and Montauk Energy Holdings, LLC.
Avior is a globally recognised capital markets research and trading firm, with the broadest research coverage within the region, with 100+ SA and 20+ SSA companies under coverage. Avior services clients from offices in London, Cape Town and Johannesburg.
Our research quality is consistently recognised in local and global surveys, with 18 analysts currently rated in their respective sectors (FM 2017). Value add through in-depth, innovative, high quality and consistent research with comprehensive underlying fundamental modelling supported by regular analyst and roadshow interactions.
Avior has proven that by working closely with our clients we can mutually develop dominant positions in certain sectors, going from strength to strength. Avior has a dedicated ESG team, having been ranked #1 in Corporate Governance research since 2008.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.