MRG Finance UK PLC 1st Quarter Results (9898M)

TIDM59AY

RNS Number : 9898M

MRG Finance UK PLC

26 May 2022

LEI Number: 254900VQRXK46UEV8Y97

MRG Finance UK plc

Monaco Resources Q1 Update

London, 26 May 2022: London, Monaco Resources Group SAM ("MRG"), the guarantor and the parent company of MRG Finance UK plc ("the Issuer"), delivers record results in Q1 2022.

Key Highlights for a strong Q1 2022

-- Despite the ongoing conflict in Ukraine, and associated disruption to supply chains, Monaco Resources Group's three principal subsidiaries, R-Logitech, Metalcorp and Agri Resources continue on a strong growth trajectory, with a consolidated Q1 turnover of more than EUR 523 million and Q1 EBITDA of EUR 53.4 million (Q 1 2021: turnover EUR 433 million; EBITDA EUR 43 million).

-- Metalcorp, the metals and minerals division, is benefiting from an increase in volumes across its divisions, with strong performance from its aluminium, platinum and steel procurement and marketing businesses.

-- R-Logitech, the ports and logistics division, focused principally on handling essential commodities, is experiencing strong volumes across its port network in Europe and Africa, with an encouraging pipeline of new commercial contracts from existing and new blue-chip clients.

-- Agri-Resources, the Group's food and farming division, continues to expand local food production in West Africa, developing cold storage infrastructure and working in partnership with local farmers to accelerate production.

-- The Group's balance sheet continues to strengthen with the growth in consolidated earnings and reduction of debt during the course of the year. To achieve further sustainable growth, the Group is currently considering partnerships with third party equity investors at a divisional level to expand both its metals and minerals activities as well as its port infrastructure business.

ENDS

About Monaco Resources Group

Monaco Resources Group is a global organisation specialising in natural resources and infrastructure & logistics. The group's asset base is highly diversified and spans metals & minerals, agribusiness, energy, infrastructure, logistics and finance & investments. Headquartered in Monaco and with key offices in London and Luxembourg, the group operates in over 50 countries and employs more than five thousand people.

www.monacoresources.com

Enquiries:

Bondholders:

Mark Nunes

Monaco Resources Group

mnunes@monacoresources.com

Media:

Brunswick Group

MonacoResources@brunswickgroup.com

Patrick Handley +44 (0) 7974 982395

Tom Pigott +44 (0) 7467 470 552

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May 26, 2022 12:04 ET (16:04 GMT)

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