Awilco Lng Asa · OSL:ALNG
Awilco Lng Asa — Q1 2021 Earnings Presentation
19 slides from Awilco Lng Asa's earnings presentation, May 20, 2021
Slide 1: Q1 2021
Q1 2021 May 20, 2021 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
Agenda May 20, 2021 1. Highlights 2. Financials Q1 2021 3. Market update 4. Summary www.awilcolng.no -4-
Slide 5: 1st quarter highlights
1st quarter highlights • Awilco LNG achieved net freight income of USD 16.2 million in Q1 2021, up from USD 11.2 million in Q4 2020. • EBITDA for the quarter ended at USD 12.7 million, compared with USD 7.3 million in Q4 2020. • Net result for the period was USD 6.9 million, equivalent to an earning
Slide 6: Agenda
Agenda May 20, 2021 1. Highlights 2. Financials Q1 2021 3. Market update 4. Summary www.awilcolng.no -6-
Slide 7: Q1 2021 income statement
Q1 2021 income statement USD million Q1’21 Q4’20 2020 Freight income 17.6 12.8 35.6 Voyage related expenses (1.4) (1.6) (5.0) Net freight income 16.2 11.2 30.7 Other income - (0.6) (0.6) Operating expenses (2.4) (2.4) (8.9) Administration expenses (1.0) (0.9) (3.0) EBITDA 12.7 7.3 18.1 Depreciation
Slide 8: Q1 2021 financial position
Q1 2021 financial position USD million 31.03.21 31.12.20 31.03.20 Vessels 335.6 338.3 347.3 Other fixed assets 0.7 0.7 0.0 Total non-current assets 336.3 339.0 347.3 Trade receivables 0.4 0.1 1.7 Other short term assets 2.7 0.9 4.8 Cash and cash equivalents 13.3 12.6 21.9 Total current assets 16.4 1
Slide 9: Q1 2021 cash flow
Q1 2021 cash flow USD million Q1’21 Q4’20 2020 Cash Flows from Operating Activities: Profit/(loss) before taxes 6.9 1.2 (7.9) Income taxes paid - - - Interest and borrowing costs expensed 2.7 2.7 13.2 Depreciation, amortisation and impairment 3.1 3.1 12.5 Trade receivables, inventory and other short
Slide 10: Agenda
Agenda May 20, 2021 1. Highlights 2. Financials Q1 2021 3. Market update 4. Summary www.awilcolng.no - 10 -
Slide 11: Spot rates
Spot rates USD/DAY 200 000 180 000 160 000 140 000 120 000 100 000 80 000 60 000 40 000 20 000 - Avg. spot rate 138-145k ST Avg. spot rate 155-165k TFDE Historic ave. spot rate 138-145k ST Historic ave. spot rate 155-165k TFDE • Market recovery in April/May due to a combination of strong LNG demand
Slide 12: LNG export and import
LNG export and import Q1 2021 vs Q1 2020 West Africa Russia North America North Africa Middle East and Gulf Latin America Europe Asia -12 -10 -8 -6 -4 -2 0 2 4 Import (in MT) Export (in MT) • Covid-19 had a serious impact on LNG demand in 2020 that was otherwise expected to increase by about 20 MTPA
Slide 13: Gas prices
Gas prices USD/MMBTU >30 >25 14 12 10 8 6 4 2 0 07.2018 09.2018 11.2018 01.2019 03.2019 05.2019 07.2019 09.2019 11.2019 01.2020 03.2020 05.2020 07.2020 09.2020 11.2020 01.2021 03.2021 US (HH) Asia (JKM) Europe (TTF) LNG Contract 12% brent Japan LNG import price • Geographical price differential (arb
Slide 14: Trainspotting
Trainspotting MTPA LNG TRAINS UNDER CONSTRUCTION MTPA 35 160 30 140 25 120 20 100 80 15 60 10 40 5 20 0 0 Started 2021 2021 2022 2023 2024 2025 2026 Total (RHS) • ~ 145 MTPA new capacity currently under construction • Further FIDs needed to meet expected demand from 2025 • More than 800 MTPA of new
Slide 15: LNG fleet and orderbook
LNG fleet and orderbook NO. VESSELS TOTAL FLEET 700 50 600 40 500 400 30 300 20 200 10 100 0 0 Fixed (LHS) Fixed Arc7s (LHS) Available (LHS) Delivered (LHS) Total fleet (RHS) • Total LNGC fleet: 530 1) • 2 newbuilding orders made YTD in 2021 • Current orderbook 101 LNGC 1) or 19 % of existing fleet
Slide 16: Agenda
Agenda May 20, 2021 1. Highlights 2. Financials Q1 2021 3. Market update 4. Summary www.awilcolng.no - 16 -
Slide 17: Summary
Summary ➢ Continued recovery global LNG demand and increasing gas prices and freight rates in April/May 2021. ➢ Increased number of vessels fixed on medium term contracts indicate expected further recovery throughout 2021 and for the next winter season ➢ Mid- and long-term demand for LNG transportat
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: Contact details
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 -