Awilco Lng Asa · OSL:ALNG
Awilco Lng Asa — Q4 2021 Earnings Presentation
19 slides from Awilco Lng Asa's earnings presentation, Feb 18, 2022
Slide 1: Fourth quarter 2021
Fourth quarter 2021 February 18, 2022 www.awilcolng.no -1-
Slide 2: Disclaimer
Disclaimer This presentation may include certain forward-looking statements, forecasts, estimates, predictions, influences and projections regarding the intent, opinion, belief, various assumptions or current expectations of Awilco LNG (the “Company”) and it’s management with respect to, among other
Slide 3: Company overview
Company overview Awilco LNG is a fully integrated pure play LNG transportation provider, owning and operating LNG carriers. The Company owns and operates two 2013-built 156,000 cbm TFDE LNG carriers, WilPride and WilForce, trading in the medium term and spot market. Awilco LNG is listed on Euronext
Slide 4: Agenda February 18, 2022
Agenda February 18, 2022 1. Highlights 2. Financials fourth quarter 2021 3. Market update 4. Summary www.awilcolng.no -4-
Slide 5: Highlights
Highlights Net result of USD 5.8 million (USD 0.04/sh) for fourth quarter 2021and USD 21.1 million (USD 0.16/sh) for the full year 2021, up from profit of USD 5.1 million and loss of USD 7.9 million for fourth quarter and full year 2020 respectively. Net freight income of USD 14.5 million in fou
Slide 6: Agenda February 18, 2022
Agenda February 18, 2022 1. Highlights 2. Financials fourth quarter 2021 3. Market update 4. Summary www.awilcolng.no -6-
Slide 7: Fourth quarter 2021 income statement
Fourth quarter 2021 income statement USD million Q4’21 Q3’21 2021 2020 Freight income 14.6 14.7 59.6 35.6 Voyage related expenses (0.1) (0.3) (2.4) (5.0) Net freight income 14.5 14.3 57.1 30.7 Other income 0.1 - 0.1 (0.6) Operating expenses (2.5) (2.7) (10.0) (8.9) Administration expenses (1.3) (0.8
Slide 8: Fourth quarter 2021 financial position
Fourth quarter 2021 financial position USD million 31.12.21 30.09.21 31.12.20 Vessels 326.9 330.0 338.3 Other fixed assets 0.7 0.7 0.7 Total non-current assets 327.6 330.7 339.0 Trade receivables 1.0 1.0 0.1 Other short term assets 4.6 0.5 0.9 Cash and cash equivalents 23.6 23.1 12.6 Total current a
Slide 9: Fourth quarter 2021 cash flow
Fourth quarter 2021 cash flow USD million Q4’21 Q3’21 2021 2020 Cash Flows from Operating Activities: Profit/(loss) before taxes 5.8 5.1 21.1 (7.9) Income taxes paid - - - - Interest and borrowing costs expensed 2.4 2.5 10.2 13.2 Depreciation, amortisation and impairment 3.2 3.2 12.6 12.5 Trade rece
Slide 10: Agenda February 18, 2022
Agenda February 18, 2022 1. Highlights 2. Financials fourth quarter 2021 3. Market update 4. Summary www.awilcolng.no - 10 -
Slide 11: Spot rates
Spot rates USD/DAY 250 000 200 000 150 000 100 000 50 000 - WW spot rate ST WW spot rate TFDE Historic ave. spot rate ST Historic ave. spot rate TFDE • Following a very strong fourth quarter 2021 the spot market in currently very weak • The seasonal “shoulder” period started early as a result of ext
Slide 12: LNG export and import
LNG export and import 2021 vs 2020 (YoY change) West Africa Russia North America North Africa Middle East and Gulf Latin America Europe Asia -10 -5 0 5 10 15 20 25 Import (in MT) Export (in MT) • Supply disruptions have negatively affected the volume of LNG traded in 2020 and 2021 • 20MTPA of new li
Slide 13: Gas prices
Gas prices USD/MMBTU 50 40 30 20 10 0 01.2018 03.201805.201807.201809.201811.201801.2019 03.201905.201907.201909.201911.201901.202003.202005.202007.202009.202011.202001.2021 03.202105.202107.202109.202111.202101.2022 03.202205.202207.202209.202211.202201.2023 03.2023 US (HH) Asia (JKM) Europe (TTF)
Slide 14: Trainspotting
Trainspotting MTPA LNG TRAINS UNDER CONSTRUCTION MTPA 12 160 10 140 120 8 100 6 80 4 60 40 2 20 0 0 Started 2022 2022 2023 2024 2025 2026 2027 2028 Total (RHS) • ~ 126 MTPA new capacity currently under construction • Further FIDs needed to meet expected demand from 2025 • More than 800 MTPA of new l
Slide 15: LNG fleet and orderbook
LNG fleet and orderbook NO. VESSELS TOTAL FLEET 800 50 700 40 600 500 30 400 20 300 200 10 100 0 0 Fixed (LHS) Fixed Arc7s (LHS) Available (LHS) Delivered (LHS) Total fleet (RHS) • Newbuilding deliveries set to slow down in 2022 and 2023 compared to 2021 to support a strong market for the next years
Slide 16: Agenda February 18, 2022
Agenda February 18, 2022 1. Highlights 2. Financials fourth quarter 2021 3. Market update 4. Summary www.awilcolng.no - 16 -
Slide 17: Summary
Summary High gas prices in Europe due to lack of pipeline gas hurt LNG freight Current weak spot market due to plenty of open tonnage, but still healthy rates quoted for multi-month TC contracts and 1-year TC rates for TFDE vessels are offered around USD 75,000 pd Mid- and long-term demand for
Slide 18: A Fully Integrated Pure Play LNG Transportation Provider
A Fully Integrated Pure Play LNG Transportation Provider Two 2013 built TFDEs Tier 1 customers Solid owners Experienced Opportunistic strategy management team www.awilcolng.no - 18 -
Slide 19: Jon Skule Storheill CEO Mobile: +47 913 44 356
Jon Skule Storheill CEO Mobile: +47 913 44 356 E-mail: jss@awilcolng.no Per Heiberg CFO Mobile: +47 952 20 264 E-mail: pheiberg@awilcolng.no www.awilcolng.no - 19 -