Tsakos Energy Navigation Ltd · NYSE:TEN
Tsakos Energy Navigation — FY2006 Earnings Presentation
13 slides from Tsakos Energy Navigation's earnings presentation, Mar 12, 2007
Slide 1: Year-end & Q4 Earnings Call Supplemental Information
TEN Ltd Tsakos Energy Navigation 6,000 5,500 5 years of continuous growth 5,000 Dwt ('000s) 4,500 4,000 3,500 3,000 2,500 2,000 2002 2003 2004 2005 2006 2007 March 12, 2007 Year-end & Q4 Earnings Call Supplemental Information
Slide 2: Forward-looking statements
This presentation may contain forward-looking statements that are not based on historical fact, including without limitation, statements containing the words “expects,” expects,” “anticipates,” anticipates,” “intends,” intends,” “plans,” plans,” “believes,” believes,” “seeks,” seeks,” “estimates” es
Slide 3: Fleet Details
Fleet Details TOTAL FLEET Ships: 53 Dwt: 5,641,835 Average Age: 5.5 years Average Age of World Fleet: 11.1 years Double Hull: 100% Ice-class vessels: 23 Ice-class dwt: 2,002,610 CRUDE FLEET CLEAN / PRODUCT FLEET Ships: 28 Ships: 25 Dwt: 4,116,460 Dwt: 1,525,375 Ice-class ships: 6 (21.4%) Ice-class s
Slide 4: Fleet Composition
Fleet Composition CRUDE TANKERS CLEAN / PRODUCT TANKERS Dwt Built Hull Ice Class Dwt Built Hull Ice Class VLCC LR - AFRAMAX 1 Millennium 301,171 1998 DH 1 Proteas 116,000 2006 DH 1A 2 La Madrina 299,700 1994 DH 2 Promitheas 116,000 2006 DH 1A 3 La Prudencia 298,900 1993 DH 3 Propontis 116,000 2006 D
Slide 5: Earnings Visibility
Earnings Visibility 2007 2008 J F M A M JN JL A S O N D J F M A M JN JL A S O N D 1 Millennium VLCC 2 Cape Baker SZX 3 Cape Balboa SZX 4 Euronike SZX 5 Silia T SZX 6 Delphi HSZ TC (Fixed) 7 Didimon HSZ 8 Hesnes PNX 9 Victory III AFR 10 Opal Queen AFR 11 Andromeda HSZ 12 La Madrina VLCC 13 La Prudenc
Slide 6: Secured Revenues
Secured Revenues (Based on employable days and assuming current operational fleet of 39 vessels) 2007 % Days fixed Revenues 80% $265m 2008 % Days fixed Revenues 61% $208m 6
Slide 7: Newbuilding Program
Newbuilding Program 2007 2008 2009 2010 1 Neo Energy 1 DNA (tbn) 1 DNA (tbn) 1 DNA (tbn) 2 Arctic 2 DNA (tbn) 2 DNA (tbn) 3 Antarctic 3 DNA (tbn) 4 Izumo Princess 5 Sakoura Princess 6 LR (tbn) 7 LR (tbn) 8 Andromeda Delivered LNG 1 Suezmax Natural Gas 9 Aegeas 1 Aframax Product 10 Bosporos 1 Crude P
Slide 8: Financial Highlights
Financial Highlights 2003 2004 2005 2006 2006 (Q4) Average # of Vessels 25.7 27.3 26.1 33.8 37.0 TCE Revenues, net (mill) $193 $276 $260 $359 $98 Net Income $59.1 $143.3 $161.8 $196.4 $77.1 Capital gains $16.0 (1) $21.4 $45.3 $63.3 $50.5 EPS, diluted $3.44 $7.51 $8.17 $10.30 $4.05 ROE 22.1% 45.6% 31
Slide 9: Financial Highlights (cont.)
Financial Highlights (cont.) Net Income (in US$mill) EBITDA (in US$mill) 196.4 303 161.8 143.3 215 198 112 59.1 44 3.9 2002 2003 2004 2005 2006 2002 2003 2004 2005 2006 Earnings Per Share, diluted 10.30 7.51 8.17 3.44 0.25 2002 2003 2004 2005 2006 9
Slide 10: Dividend Distributions
Dividend Distributions Dividend Policy - Paid in 2 semi-annual installments - Between 25-50% of Net Income 2002 2003 2004 2005 2006 Net Income $3,894 $59,052 $143,290 $161,755 $196,404 Installment 1 (October) $0.50 $0.50 $0.70 $1.00 $1.25 Installment 2 (April following year) $0.20 $0.50 $0.95 $1.10
Slide 11: Non-stop Growth
Non-stop Growth Net income since NYSE listing $200 $196.4 $150 (millon) $100 $50 $0 $3.9 2002 2003 2004 2005 2006 11
Slide 12: Favorable Returns
en Favorable Returns GRAB Equity COMP COMPARATIVE RETURNS Page 1/89 rie 3/ 6/020 3/ 9/07 eee) 1829 Day Period Securities Crncy Pre Appr Total Ret Difference Annual Eq TNP US Equity fs 213.33 % 297.33 % 265.32 % 31.69 % een Printed SPX Index USD} (* = No dividends or coupons) 400 EN INDE! 12
Slide 13: Tsakos Energy Navigation, Ltd contact information
TSAKOS ENERGY NAVIGATION, LTD For more information please contact: Paul Durham: pdurham@tenn.gr Chief Financial Officer George Saroglou: gsaroglou@tenn.gr Chief Operating Officer Harrys Kosmatos: hkosmatos@tenn.gr Senior Manager – Corporate Development Tsakos Energy Navigation, Ltd 367 Syngrou Avenu
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