Globus Maritime Limited · NASDAQ:GLBS
Globus Maritime — Q1 2012 Earnings Presentation
21 slides from Globus Maritime's earnings presentation, May 15, 2012
Slide 1: 1st Quarter 2012 Results Company Presentation
1st Quarter 2012 Results Company Presentation 15 May 2012
Slide 2: Disclaimer – Forward Looking Statement
Disclaimer – Forward Looking Statement This presentation (and oral statements made regarding the subjects of this presentation) includes statements that are, or may be deemed to be, “forward-looking statements” as defined under U.S. federal securities laws. These forward-looking statements reflect t
Slide 3: Company Update Report
GLOBUS MARITIME LIMITED = ee
Slide 4: Company Update: Results Q1 2012
Company Update Results Q1 – 2012________ • Net Income: $1.7 million • EPS $0.16 per share • Net Revenue: $9.3 million • Adj. EBITDA: $6.0 million • Avg. TCE: $14,764 / day / vessel • Avg. OPEX: $4,758 / day / vessel • Utilization Rate: 99.4% • DPS $0.085 per share • Total Dividend ~$862 thousand is
Slide 5: Operating Highlights
Operating Highlights Q1 2012 FY 2011 Q4 2011 Q3 2011 Q2 2011 Q1 2011 Ownership Days 637 2,125 644 567 464 450 Available Days 637 2,111 644 567 464 436 Operating Days 633 2,083 644 544 461 434 Bareboat Charter 91 365 92 92 91 90 Days Average No. of 7.0 5.8 7.0 6.2 5.1 5.0 Vessels Fleet Utilization 99
Slide 6: Fleet and Employment Profile
Fleet and Employment Profile (as of May 11 2012) th Earliest Expected Daily Charter Charter Vessel Name Type Year Built DWT Expiration / Charterer Rate(1) remaining duration River Globe Supramax 2007 53,627 $9,000 6 June JAHLDI $12,000/ Sky Globe Supramax 2009 56,855 Aug 2013 HMM $12,500 Star Globe
Slide 7: Time Charter Coverage
Time Charter Coverage 2012 2013 Tiara Globe Spot River Globe Spot Star Globe Spot Sky Globe $12,000 & $12,500/day Jin Star $14,250/day Bareboat Sun Globe $16,000/day Moon Globe $18,000/day Spot 31-Dec-12 31-Dec-13 Charter Coverage approx. 57% 45% As of May 14, 2012 - based on the earliest anticipate
Slide 8: Update on Arbitration
Update on Arbitration 1. Tiara Globe / Transgrain Shipping cp 2/10 Transgrain redelivered the Tiara Globe and delayed certain payments as a sub-charterer claims certain offhires and damages which Globus disputes. The Company has initiated arbitration against Transgrain and the sub- charterer. An amo
Slide 9: Market Report
Market Report Baltic Timecharter Earnings ‘The Baltic Exchange —Cape —Panamax —Supramax —Handy Daily Summary of Baltic Exchange Dry Indices 0,000 14 May 2012 Baltic Exchange Dry Index ™ 1132 (DOWN 6) Baltic Exchange Capesize Index ™ 1612 (DOWN 2) Baltic Exchange Panamax Index™ 1299 (DOWN 23) Baltic
Slide 10: Current Market Conditions
Current Market Conditions Demand Side • China's central bank cut reserve requirements for banks by 50bp from 20.5% to 20.0%; • Iron ore inventories at major Chinese ports rose to 96.4 MT (up 10.9% Y-Y). • Lower iron ore prices (down 22% Y-Y) supports higher Chinese imports as domestic production bec
Slide 11: Current Market Conditions
Current Market Conditions 11
Slide 12: Dry Bulk Fleet Developments
Dry Bulk Fleet Developments 12
Slide 13: 1st Quarter 2012 Results CFO Presentation
1st Quarter 2012 Results CFO Presentation 15 May 2012
Slide 14: Recent Developments
Recent Developments • March: Paid $0.16 cash DPS for Q4-11, or $1.6m; • March: Repaid regular installment of $500k to DSB, and $440k + $416k to DVB; • End-of-March: Cash $9.350m – Bank Debt $109.997m (+ $10m undrawn @ CrS) • Submitted the Annual Report for 2011 in form 20-F. 14
Slide 15: Strong Liquidity Position
Strong Liquidity Position ($ million) On December 31, 2011 On March 31, 2012 Cash 9.31 9.31 111.4 110.0 Bank Debt (available)2 10.0 (available)2 10.0 Net Debt 102.1 100.7 Total Equity 140.0 140.3 Net Debt/Total 42.2% 41.8% Capitalization3 (1) Includes $2 of restricted cash: $1 at DSB and $1 at DVB (
Slide 16: Income Statement
Income Statement Globus Maritime Limited Q1 - 12 FY 2011 Q4 - 11 Q3 - 11 Q2 - 11 Q1 - 11 ($ 000s) Net revenue 9,309 32,276 9,535 8,344 6,931 7,466 Vessel operating expenses (2,598) (7,967) (2,225) (2,328) (1,831) (1,583) Admin expenses1 (888) (3,592) (880) (904) (892) (916) Other inc/(expenses), net
Slide 17: Balance Sheet
Balance Sheet Globus Maritime Limited 31 / 3 / 12 31 / 12 / 11 31 / 12 / 10 31 / 12 / 09 (US$ 000’s) Cash 9,350 9,301 24,618 59,157 2,178 Other Current Assets 7,171 4,166 2,277 33,030 Non-Current Assets 239,076 242,592 191,556 93,204 Total Assets 255,597 256,059 218,451 187,570 Total Bank Debt (LT+S
Slide 18: Calendar for Quarterly Dividend for Q4-11
Calendar for Quarterly Dividend for Q4-11 There are 10,141,499 common shares outstanding NI of Q1-12 was $1,657,174 Quarterly cash DPS of $0.085 amounts to $862,027, which is 52% of NI, consistent with our dividend policy Record date: May 25, 2012 Ex-dividend: May 23, 2012 Payable: On or
Slide 19: Appendix
GLOBUS MARITIME LIMITED = ee
Slide 20: Executive Team
Executive Team George Karageorgiou, Chief Executive Officer Co-founder, Chief Executive Officer since September 2006 19 years shipping experience (5 years of which involved public company experience) − Projects engineer for Kassos Maritime Enterprises from 1990-1992 − Director and Corporate Secr
Slide 21: Contacts
Contacts Globus Maritime Limited George Karageorgiou Elias Deftereos President & CEO Chief Financial Officer info@globusmaritime.gr deftereos@globusmaritime.gr Tel: +30 210 960 8300 Tel: +30 210 960 8300 www.globusmaritime.gr Capital Link – New York Nicolas Bornozis Matthew Abenante +1 212 661 7566