Luxembourg, 28 April 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 quarter 2022 earnings update for the period January 1st, 2022 to March 31st, 2022.

Financial Highlights:

Despite worldwide supply-chain challenges, significant inflationary pressures, and the war in Ukraine, Metalcorp Group is pleased to report that in Q1 2022 it increased its revenue and earnings figures significantly. Specifically:

  • Revenues increased by more than 50% to EUR 246.7 million (Q1 2021: EUR 164.1 million)
  • EBITDA rose by 54% to EUR 17.2 million (Q1 2021: EUR 11.2 million)
  • Consolidated equity amounted to EUR 223.4 million, corresponding to an equity ratio of > 26%
  • Available liquidity in the form of cash, cash equivalents and credit lines of c EUR 200 million     

Operational Highlights:

Reviewing the first quarter, aluminium production was near full capacity, and bauxite mining increased to 500,000 tons in line with budget.

Automotive diversified its customer base with several major new European clients, and metallurgical coke production was at full capacity. Platinum group metals increased sales significantly whilst copper and zinc were ahead of budget.

Metalcorp Group’s Co-CEO Carlos Leite, said: “We are delighted to achieve a record quarter for our group in these challenging markets which is a testament to the hard work of all our employees. We have invested wisely over the last few years, expanding our secondary aluminium facilities, successfully entering the platinum group metals segment, and expanding our activities in ferrous markets in mainland Europe, where we are seeing an expanding client base and a significant ramp up in volumes procured and sold. Looking ahead, the second quarter has continued to be encouraging for the company and we are confident that we will achieve further strong revenue and earnings growth as 2022 progresses.”

James Keane, Group Executive Vice President of Monaco Resources Group, added: “The last quarter has been excellent for Metalcorp and a testament to how well the company is executing its strategy. In a time of unprecedented disruption in metals and commodities markets, we are delighted by Metalcorp’s ability to deliver such strong results and to continue growing its business.”

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 2021/2026 bond (ISIN: DE000A3KRAP3) and the 2017/2022 bond (ISIN: DE000A19MDV0) are traded on the Open Market of Deutsche Börse AG (“Freiverkehr” of the Frankfurt Stock Exchange), while the 2017/2022 bond (ISIN: NO0010795701) is traded on the Oslo Stock Exchange.

Metalcorp Group S.A. is a subsidiary of Monaco Resources Group S.A.M.

For further information:

Frank Ostermair, Linh Chung

Better Orange IR & HV AG

+49 89 8896906-25

Anouar Belli                                        

Metalcorp Group S.A.

+352 2799 0145 55