Taylor Maritime Limited · LSE:TMI
Taylor Maritime — Taylor Maritime Investments — Investor Presentation (November 2021)
12 slides from Taylor Maritime's investor presentation, Nov 25, 2021
Slide 1: Investor Presentation
Strictly Private & Confidential Investor Presentation 25th November 2021 Strictly Private and Confidential
Slide 2: TMI Performance Since IPO and Go Forward Objectives
Strictly Private & Confidential TMI Performance Since IPO and Go Forward Objectives TMI’s investment objective is to deliver stable, growing income with potential for capital growth 1 Strong cash flow profile with sustainable high dividend yield of at least 7% CORE 2 Total NAV returns of 10-12% targ
Slide 3: Handysize Market In Perspective
Strictly Private & Confidential Handysize Market In Perspective Handysize market is the workhorse of the shipping sector and intrinsically defensive, with constantly growing demand as transporting necessity goods. TMI’s investment thesis is playing out: Handysize yields are stronger and asset values
Slide 4: Market Review - Demand
Strictly Private & Confidential Market Review - Demand Next year’s supply demand gap firm again with demand growth forecast at 3.1%, compounding a sharp rebound of 6.4% in 2021 Commentary Grain and minor bulk trade development (billion tonne miles) Overall Dry Bulk ◼ IMF forecast 2021 world GDP grow
Slide 5: Market Review – Supply
Strictly Private & Confidential Market Review – Supply Historically low orderbook and rare level of extended visibility of the orderbook to 2024 due to yards being full Orderbook as multiple of scrap pool (vessels >20 years old) Orderbook (as % of dry bulk fleet segments) 4.5x 8.0% Number 7.3% 7.5%
Slide 6: TMI Fleet
Strictly Private & Confidential TMI Fleet We have grown TMI’s fleet to 32 geared vessels, selected for their high quality build and popular design. These are mostly built in Japan and have an average age of 10.7 years Delivered Fleet Fleet to be Delivered Vessel Type DWT Year of Build Country of Bui
Slide 7: Current Portfolio Deployment
Strictly Private & Confidential Current Portfolio Deployment Yields remain strong at 29% gross with a net TC rate of c.$20,000 per day Average annualized unlevered gross cash yield Fleet employment renewal Avg yield: 29% Avg duration: 8 months 35% 33% 33% 30% 26% 26% % of fleet (delivered & undelive
Slide 8: Employment Strategy
Strictly Private & Confidential Employment Strategy TMI is constantly working to achieve the strategic balance between pricing and contract longevity Market Outlook Next 3-6 • We expect the market to firm again from mid Q1 post seasonal softening in Nov/Dec and leadup to Chinese New Year (first week
Slide 9: Illustrative Investment Returns
Strictly Private & Confidential Illustrative Investment Returns Attractive returns profile based on market outlook continue to support acquisition of the right assets at current offer prices Illustrative investment case - 10 year old 38k dwt Commentary IRR 13.5% ◼ Next 6 months: Geared opportunity c
Slide 10: TMI Future Growth
Strictly Private & Confidential TMI Future Growth Further accretive growth opportunities will be pursued with a focus on shareholder returns. Given our positive market outlook, TMI continues to prioritise the Geared opportunity including single asset, multi-asset and corporate deals. In parallel, TM
Slide 11: Summary
Strictly Private & Confidential Summary Highly cash generative, attractive asset portfolio internally managed by an experienced team, with a very favourable market outlook 1 Attractive asset portfolio of 32 vessels, largely Japanese built (including delivered and committed vessels) 2 Robust cashflow
Slide 12: Disclaimer
Strictly Private & Confidential Disclaimer IMPORTANT NOTICE This presentation is issued by Taylor Maritime Investments Limited (the Company) for information purposes only. This presentation should not be taken as an inducement to engage in any investment activity and is for the purpose of providing
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