Slide 1: StealthGas Inc. 3rd Quarter & Nine Months 2006 Results
StealthGas Inc. 3rd Quarter & Nine Months 2006 Results NASDAQ: “GASS” Earnings Presentation November 22, 2006
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of applicable federal securities laws. Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of h
Slide 3: Business Strategy
Business Strategy Business Strategy Implementation Triple Fleet by mid-2006 • Expanded fleet to 28 vessels by end of Q2 2006 Moderate Leverage • Third Quarter 2006 net debt to capitalization: 43.1% Visible Revenue Stream • 89% of voyage days fixed for remainder of 2006 • 61% of voyage days fixed for
Slide 4: Fleet Development
Fleet Development Grew fleet to 28 vessels by end of Q2 2006 Stealth Gas ranks #1 in owned vessels in 3,000 to 8,000 CBM segment 28 28 IPO 24 4 24 21 2 20 3 16 12 Established 24 Oct. 2004 22 18 8 4 9 9 5 4 0 Q4 2004 Q1 2005 Q2 2005 Q3 2005 Q4 2005 Q1 2006 Q2 2006 Fleet Additional Vessels Page 4 Stea
Slide 5: Fleet Employment Profile
Fleet Employment Profile 2006 2007 2008 EARNINGS VISIBILITY Q4 2006 Q1 2007 Q2 2007 Q3 2007 Q4 2007 Q1 2008 Q2 2008 Q3 2008 Sep 2009 Gas Prophet B/B @ 110,000 30 31 31 28 31 30 31 30 31 31 30 31 30 31 31 29 31 30 31 30 31 31 30 31 May 2009 Sir Ivor B/B @ 163,636 30 31 31 28 31 30 31 30 31 31 30 31 3
Slide 6: 3rd Quarter & Nine Months 2006 Financial Highlights
3rd Quarter & Nine Months 2006 Financial Highlights 3rd Quarter 2006 ! Q3 Net income of $2.1 million, revenues of $18.7 million, EBITDA of $7.4 million ! Q3 Net income of $3.6 million before non cash loss on interest rate swaps of $1.5 million ! EPS of $0.15 cents per share ($0.25 cents per share be
Slide 7: 3rd Quarter & Nine Months 2006 Income Statement
3rd Quarter & Nine Months 2006 Income Statement In US$ 000, except Nine Months Q1 2006 Q2 2006 Q3 2006 per share amounts 2006 Net Revenues $16,938 $17,215 $18,682 $52,835 Operating Income 7,500 5,542 5,811 18,854 Net Income 6,959 4,621 2,094 13,674 EBITDA 10,160 8,869 7,437 26,467 EPS 0.50 0.33 0.15
Slide 8: 3rd Quarter & Nine Months 2006 Operating Highlights
3rd Quarter & Nine Months 2006 Operating Highlights Fleet Data & Daily Results Fleet Data Q1 2006 Q2 2006 Q3 2006 Nine Months 2006 Average number of vessels in fleet 22.4 25.1 28.0 25.2 Period end number of vessels in fleet 24.0 28.0 28.0 28.0 Total calendar days for fleet 2,019 2,280 2,576 6,875 To
Slide 9: Daily Breakeven
Daily Breakeven Q3 2006 vs Q2 2006 Daily Cashflow and Net Income Breakeven Composition ($ per vessel per day) Q2 2006 fleet calendar days: 2,280 Q3 2006 fleet calendar days: 2,576 Q2 2006 Q3 2006 Expenses Cash Flow Net Income Cash Flow Net Income Operating $2,074 $2,074 $1,927 $1,927 Management Fees
Slide 10: Financial Estimator
Financial Estimator ($ in millions) 28 Vessels 2006E Spot Voyage Days 276 Daily Spot Charter Rate - 4,250 cbm vessel ? Spot Revenue ? Period Charter Revenue (T/C and Bareboat) $69.2 Total Revenue ? Operating Expenses 23.3 SG&A 5.4 Commissions 2.3 Maintenance CapEx 2.1 Total Expenses 33.1 EBITDA ? D&
Slide 11: Reducing reliance upon third party managers
Reducing reliance upon third party managers June 30 2006 YTD 2006 1 2 3 2 4 3 5 5 8 7 Stealth Maritime Tesma Sw an Hanseatic V Ships Stealth Maritime Tesma Sw an Hanseatic V Ships Year End 2006 April 30, 2007 1 2 5 1 0 6 9 7 5 5 Stealth Maritime Tesma Sw an Hanseatic V Ships Stealth Maritime Tesma S
Slide 12: LPGC freight rates
LPGC freight rates Average earnings in the spot market excluding waiting time / 1 yr TC rates 700 600 USD 1000 per month 500 15000 SR 8000 ETH 400 6500 SR 3500 SR 1yr TC 300 3500 PR 1yr TC 200 100 2000 2001 2002 2003 2004 2005 2006 Page 12 StealthGas Inc. © 2006
Slide 13: Charter Market Rate Indicator (12 Month TCs)
Charter Market Rate Indicator (12 Month TCs) Q3 2006 Average Current Q4 2006 Forecast 3,200 CBM S/R 301,923 315,000 300,000 3,500 CBM P/R 200,385 210,000 200,000 6,000 CBM S/R 430,000 430,000 450,000 15,000 CBM S/R 686,538 675,000 700,000 38,000 CBM 1,023,077 1,000,000 1,000,000 60,000 CBM 1,073,077
Slide 14: 3000-7999 cbm fleet development vs. TC rates/earnings
3000-7999 cbm fleet development Vs. TC rates/earnings* 600 16% Earnings/TC rates in USD 1000's /month (lines) 14% 500 12% Fleet growth in % (bars) 10% 400 8% 300 6% 4% 200 2% 0% 100 -2% - -4% 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 201
Slide 15: Contacts
Contacts Company Contact: Andrew J. Simmons Visit our Website at: Chief Financial Officer www.stealthgas.com StealthGas Inc. 011-30-210-6250-001 Weekly LPG Market Report E-mail: simmons@stealthgas.com updated every Monday www.stealthgas.com Comprehensive Investor Relations Information Investor Relat