Slide 1: Tsakos Energy Navigation 9mo & Q3 2011 Earnings Conference Call
T EN Lt d Tsa kos Ene rgy N avigat ion November 18, 1 2011 9mo & Q3 2011 Earnings Conference Call
Slide 2: 2 not
This presentation may contain forward-looking statements that are not based on historical fact, including without limitation, statements containing the words “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions. Because these forward-looking statemen
Slide 3: Corporate Highlights
Corporate Highlights 50 vessels (proforma) Fleet utilization in 9mo 2011 at 98% ⇒ 48 in operation ⇒ 2 DP2 shuttle tanker suezmaxes 57% of 2012 and 42% of 2013 in secured revenue under construction contracts Accumulated income since 2002 NYSE listing close to $1 billion 100% double hull vs.
Slide 4: 9mo 2011 & Q3 2011 Highlights
9mo 2011 & Q3 2011 Highlights 9mo 2011 Voyage Revenues: $294.4 million Net Income / (Loss): $(32.9) million Av. TCE per vessel per day: $16,146 Av. Opex per vessel per day : $7,663 ¾ Sale of two aframax tankers (Opal Queen and Vergina II) with $5.0 million capital gains. $18.2 million releas
Slide 5: Fleet (as of November 18, 2011)
Fleet (as of November 18, 2011) 5 (1) 51% ownership
Slide 6: Employment Details (as of November 18, 2011)
Employment Details (as of November 18, 2011) 6 14 15 13 Time Charter (Fixed) Time Charter (Profit-Share) Pool (Spot Related) Spot Secured Employment 6
Slide 7: Secured Revenues (including TC, TC w/PS, Pool)
Secured Revenues (including TC, TC w/PS, Pool) Based on employable dates and includes vessels time charter, pools – subject to change based on new deliveries and potential changes in TEN’s chartering policy 2012 2013 57% 42% Fixed Fixed Minimum Revenues Minimum Revenues (Expected) (Expected) $170m $
Slide 8: Sale & Purchase Activity – Capital Gains
Sale & Purchase Activity – Capital Gains Sale & Purchase activity integral to operations – Close to 100 transactions - realizing actual value Since 2003 TEN has generated capital gains from its sale & purchase activity close to $280 million $29 million average per year in capital gains since N
Slide 9: Continuous Dividend Payments
Continuous Dividend Payments On June 4th, 2010 the Board of Directors declared a change in TEN’s dividend policy from semi-annual to quarterly payments ¾ Total dividends for 2010: $0.60/share ¾ First and second dividend for 2011: $0.15/share & $0.15/share Since initiation of dividend payments and
Slide 10: Income Statement
Income Statement STATEMENT OF INCOME DATA (in $ millions) Voyage revenues Voyage, commissions, charter hira expenses \Vescel operating exoenses Depreciation and amortization Ovothoads (Management feos, G&A and stock camponcation axpanco } Foreign currency losses Loss(Gein) on sale of vassels Total e
Slide 11: Balance Sheet
Balance Sheet in USD millions Cash Current assets, including cash Investments Financial instruments, net of current portion Advances for vessels under construction Vessels Accumulated Depreciation Vessels’ Net Book Value Deferred charges, net Total assets Current portion of long-term debt Current li
Slide 12: Tsakos Energy Navigation, Ltd
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 Corporate Development Officer Tsakos Energy Navigation, Ltd 367 Syngrou Avenue Athens