Awilco Lng Asa · OSL:ALNG
Awilco Lng Asa — Q4 2022 Earnings Presentation
19 slides from Awilco Lng Asa's earnings presentation, Feb 16, 2023
Slide 1: Fourth quarter 2022
Fourth quarter 2022 February 16, 2023 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 market. Awilco LNG is listed on Euronext Expand w
Slide 4: Agenda
Agenda February 16, 2023 1. Highlights 2. Financials fourth quarter 2022 3. Market update 4. Summary www.awilcolng.no -4-
Slide 5: Highlights
Highlights Awilco LNG achieved a net result of USD 4.9 million and profit per share of USD 0.04 for fourth quarter, up from a net loss of USD 5.1 million in third quarter 2022. The result for the year 2022 ended at USD 5.8 million and USD 0.04 per share Net freight income of USD 16.2 million in
Slide 6: Agenda
Agenda February 16, 2023 1. Highlights 2. Financials fourth quarter 2022 3. Market update 4. Summary www.awilcolng.no -6-
Slide 7: Fourth quarter 2022 income statement
Fourth quarter 2022 income statement USD million Q4’22 Q3’22 2022 2021 Freight income 16.8 8.1 51.5 59.6 Voyage related expenses (0.6) (3.3) (6.2) (2.4) Net freight income 16.2 4.8 45.3 57.1 Other income 0.0 0.0 0.4 0.1 Operating expenses (2.9) (2.8) (11.0) (10.0) Administration expenses (1.2) (0.7)
Slide 8: Fourth quarter 2022 financial position
Fourth quarter 2022 financial position USD million 31.12.22 30.09.22 31.12.21 Vessels 317.1 319.8 326.9 Other fixed assets 0.5 0.5 0.7 Total non-current assets 317.6 320.3 327.6 Trade receivables 3.8 1.0 1.0 Financial investments 0.0 0.0 - Other short term assets 0.6 0.6 4.6 Cash and cash equivalent
Slide 9: Fourth quarter 2022 cash flow
Fourth quarter 2022 cash flow USD million Q4’22 Q3’22 2022 2021 Cash Flows from Operating Activities: Profit/(loss) before taxes 4.9 (5.1) 5.8 21.1 Income taxes paid - - - - Interest and borrowing costs expensed 4.2 3.5 12.8 10.2 Depreciation, amortisation and impairment 3.1 3.1 12.7 12.6 Valuation
Slide 10: Agenda
Agenda February 16, 2023 1. Highlights 2. Financials fourth quarter 2022 3. Market update 4. Summary www.awilcolng.no - 10 -
Slide 11: Spot rates
Spot rates USD/DAY 350,000 300,000 250,000 200,000 150,000 100,000 50,000 - WW spot rate ST WW spot rate TFDE Historic ave. spot rate ST Historic ave. spot rate TFDE • Despite the extraordinary circumstances, the LNG market remains seasonal and rates have come down as winter demand is slowing. Focus
Slide 12: LNG export and import
LNG export and import 2022 vs 2021 (YoY change) West Africa Russia North America North Africa Middle East and Gulf Latin America Europe Asia -20 -10 0 10 20 30 40 50 Import (in MT) Export (in MT) • Massive shift in demand from Asia to Europe due to reduced Russian pipeline gas to Europe • Slower tha
Slide 13: Gas prices
Gas prices USD/MMBTU 100 90 80 70 60 50 40 30 20 10 0 01/2018 03/2018 05/2018 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 05/2021 07/2021 09/2021 11/2021 01/2022 03/2022 05/2022 07/2022 09/2022 11/2022 01/202
Slide 14: Trainspotting
Trainspotting MTPA 18 LNG PROJECTS MTPA 700 16 650 14 600 12 10 550 8 500 6 450 4 400 2 0 350 Started 2022 2022 2023 2024 2025 2026 2027 2028 2029 2030 Total capasity (RHS) • ~ 286 MTPA new capacity currently under planning or construction of which 120 MTPA expected to get FID during 2023 • This is
Slide 15: LNG fleet and orderbook
LNG fleet and orderbook NO. VESSELS TOTAL FLEET 1000 100 900 800 80 700 600 60 500 400 40 300 20 200 100 0 0 Fixed (LHS) Fixed Arc7s (LHS) Available (LHS) Delivered (LHS) Total fleet (RHS) • Orderbook for LNGC now stand at 295 vessels compared to a current fleet of 604 vessels • Limited newbuilding
Slide 16: Agenda
Agenda February 16, 2023 1. Highlights 2. Financials fourth quarter 2022 3. Market update 4. Summary www.awilcolng.no - 16 -
Slide 17: Summary
Summary The Company report a profit for the quarter of USD 4.9 million and a full year profit of USD 5.8 million Both vessels are trading on fixed rate contracts, securing full employment until third quarter 2024 with an average rate of USD 121,500 pd The Board of Directors approved a dividend
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: Jon Skule Storheill, CEO and Per Heiberg, CFO
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 -