Luxembourg, August 10, 2022 – Metalcorp Group S.A., a subsidiary of Monaco Resources Group S.A.M. and a global service provider for the procurement, production, mining and marketing of metals and minerals, today issues its first half 2022 earnings update for the period January 1, 2022 to June 30, 2022.
Financial Highlights:
Despite worldwide supply-chain challenges, inflationary pressures, and the conflict in Ukraine, Metalcorp Group is pleased to report that in H1 2022, it increased its revenue and earnings figures significantly:
- Revenues increased by 68% to EUR 511 million (H1 2021: EUR 303.6 million)
- EBITDA increased by 53% to EUR 39.4 million (H1 2021: EUR 25.8 million)
- Available cash liquidity of EUR 70 million
Operational Highlights:
- The Metals and Concentrates division saw significant volume increases in copper and for the Platinum Group Metals. Geopolitical problems in Europe have highlighted the importance of other markets including South Africa, where Metalcorp has long-term supply agreements with major local producers.
- Bulk and Ferrous raw material sales to primary steel producers in Europe continue to increase in Q2, with volumes 70% higher than budget. An additional major new European blue-chip engineering client has also been secured.
- Full capacity utilization at both aluminium recycling plants – looking to expand capacity further at the Stockach plant in Germany.
Metalcorp Group’s CEO Carlos Leite said: “We are pleased to achieve a record half-year for our Group in these challenging macroeconomic times. We are benefiting both from additional volumes procured and sold to new and existing customers, as well as from our recent investments in our business, most notably in our secondary aluminium facilities. We are confident that the strong performance in the first half of the year has positioned Metalcorp well for further growth as 2022 progresses and beyond into 2023.”
James Keane, Group Executive Vice President of Monaco Resources Group, added: “The success of the last 6 months shows the calibre of Metalcorp’s strategic decision-making and it also confirms the success of Metalcorp’s risk-averse business model, which enables earnings quality to improve independently of commodity prices which in recent months have experienced substantial volatility.”
About Metalcorp Group S.A.:
Metalcorp Group is a diversified global service provider in the metals and minerals industry including procurement, marketing, mining and processing of such products. The company’s divisions are aluminium, metals and concentrates, bulk and ferrous. Metalcorp Group carries out a risk averse back-to-back business model underpinned by a significant asset base. The bond 2021/2026 (ISIN: DE000A3KRAP3) and the bond 2017/2022 (ISIN: DE000A19MDV0) are traded on the Open Market of Deutsche Börse AG (“Freiverkehr” of the Frankfurt Stock Exchange).
Metalcorp Group S.A. is a subsidiary of Monaco Resources Group S.A.M.
For further information:
Patrick Handley, Tom Pigott
Brunswick
+44 (0) 20 7404 5959
Frank Ostermair, Linh Chung
Better Orange IR & HV AG
+49 (0) 89 8896906 25
metalcorp@better-orange.de
Anouar Belli
Metalcorp Group S.A.
+352 2799 0145 55
abelli@metalcorpgroup.com