Slide 1: Q3 2022 Financial and Operating Results
SteatlhGas Inc. | Q3 2022 Financial and Operating Results | November 21, 2022
Slide 2: Disclaimer
| Disclaimer 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 historical fact may be dee
Slide 3: StealthGas Key Highlights
1| Highlights| SteatlhGas Key Highlights |Fleet & Operations • Drydocked 4 vessels during Q3. • Increase in spot days to 843 during Q3 in a softer market; however, over the 9M period reduction of spot days has been -38% y-o-y. • Almost 1/3 of the fleet has since entered into new period charters. Onl
Slide 4: Fleet Employment Analytics (As of November 2022)
1| Highlights| Fleet Employment Analytics (As of November 2022) EARNINGS VISIBILITY Q4 2022 Q1 2023 Q2 2023 Q3 2023 Vessel Charter End Date Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Name Type 1 Eco Corsair TC Feb 2026 2 Eco Elysium TC Jun 2024 3 Gas Myth TC Jan 2024 4 Gas Husky TC Dec 2023 5 Eco G
Slide 5: Summary of our Two JVs
1| Highlights| Summary of our Two JVs Small LPG JV Structure- 1 • Currently, one of the vessels operates in the spot market in Asia. EARNINGS VISIBILITY Q4 2022 Q1 2023 Q2 2023 Q3 2023 Vessel Charter End Date Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Name Type • Following the profitable sale of th
Slide 6: LPG Fleet Trading Profile
1| Highlights| LPG Fleet Trading Profile EU-Med-19 vessels • SteatlhGas focuses on regional trade and local distribution of gas. Our Fleet trading pattern is geographically diversified and is continuously adjusted to market needs. • Our LPG fleet (incl. semi-refs) trading profile is a snapshot of ou
Slide 7: Income Statement
2| Financials| Income Statement Income Statement Q3 Q3 (Amounts in USD'000s) 9M 2021 9M 2022 2021 2022 Voyage revenues 37,486 34,885 114,151 110,032 Voyage costs (4,523) (6,773) (17,411) (15,650) Net revenues 32,962 28,112 96,740 94,382 - 2% Operating expenses (15,507) (14,122) (46,419) (40,335) - 1
Slide 8: Balance Sheet
2|Financials | Balance Sheet Balance Sheet (Amounts in #039;000s) Q4 2021 Q3 2022 Assets • Liquidity on GASS balance sheet, including restricted cash, increased to Cash & cash equivalents (incl restricted) 45,701 85,571 $85.6 million. Vessel held for sale 12,250 0 Current assets excl. cash 5,953 10,976
Slide 9: Debt Analysis & Capital Structure Following The Spin-Off
2|Financials |Debt Analysis & Capital Structure Following The Spin-Off - Since the beginning of 2021 and up until February 2022, we concluded the refinancing of twenty vessels, thus succeeding in: - Reshaping our loan portfolio’s duration and deferring balloon payments. - Enhancing our free cash wit
Slide 10: LPG Sector Highlights & Trends
3|Market update| LPG Sector Highlights & Trends • Global LPG exports increased +3.8% Jan-Oct. • US and Middle East driving exports with significant increases. • Imports: India Japan Korea Europe China 400 |Global LPG Production • Imports in China, the largest importer of LPG, have shown a gradual re
Slide 11: LPG Sector Highlights & Trends
3|Market update| LPG Sector Highlights & Trends • During Q3 22’ rates remained flat and the spot market slightly softened. Focusing on LPG trade: |Small-Handy LPG Daily Charter Rates Evolution ($) • West of Suez: - The softer market for pressurized vessels during the summer months has remained relat
Slide 12: Share Performance of GASS
4|Share Performance of GASS • Usually share price is correlated with Crude Oil price. As of late GASS and related stocks are outperforming Crude Oil. • GASS stock circa $3 still trades at a heavy discount to NAV. EPS of $0.70 for the first 9 months of 2022. 12
Slide 13: Outlook|Forecast|Considerations Going Forward
5|Outlook|Forecast|Considerations Going Forward • Given the turbulent and uncertain market, it is quite difficult to predict revenue and profitability. • Below are the key variables that will affect our performance going forward. Time charter rates for small LPGs are have been rising over the past