Tsakos Energy Navigation Ltd · NYSE:TEN
Tsakos Energy Navigation — Q1 2009 Earnings Presentation
12 slides from Tsakos Energy Navigation's earnings presentation, May 2009
Slide 1: Q1 2009 Earnings Conference Call
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Slide 2: Forward-looking statements
This presentation may contain forward-looking statements that are not based on historical fact, including without limitation, statements containing the words “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions. Because these forward-looking statemen
Slide 3: Fleet Details (as of March 31, 2009)
Fleet Details (as of March 31, 2009) TOTAL FLEET (incl. vessels under construction) Ships: 50 Dwt: 5,341,862 Double Hull: 100% Average Age (existing): 6.3 years Average Age of World Fleet: 9.8 years Ice-class vessels: 23 Ice-class dwt: 2,010,837 Ships: Ships: CRUDE FLEET 25 25 CLEAN / PRODUCT FLEET
Slide 4: Fleet Composition (as of May 15, 2009)
Fleet Composition (as of May 15, 2009) 4 * Sale & Leaseback (1) 51% ownership
Slide 5: Blue Chip Clientele
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Slide 6: Employment Details
Employment Details As of May 15, 2009 (subject to change subject to upcoming charter renewals) • Secured Employment includes vessels on Time-Charter with Profit Share (18), Time-charter with Fixed Rate (10), CoA with Min-Max rates (2), Pool (2) and Bareboat (1) 6
Slide 7: Secured Employment
Secured Employment Based on employable dates – subject to change based on new deliveries and potential changes to in chartering policy 2009 2010 (as of 3/31/09) (as of 3/31/09) Minimum Revenues Minimum Revenues (guaranteed) (guaranteed) $209m $176m As of May 15, 2009 33 vessels with period employmen
Slide 8: Remaining Newbuilding Schedule
Remaining Newbuilding Schedule Aframax DWT Hull Type / Design Delivery 1. Ise Princess 105,000 Double Hull / DNA July 17, 2009 2. Asahi Princess 105,000 Double Hull / DNA September 15, 2009 3. Sapporo Princess 105,000 Double Hull / DNA January 8, 2010 4. Uraga Princess 105,000 Double Hull / DNA May
Slide 9: Financial Highlights – Balance Sheet
Financial Highlights – Balance Sheet Expressed in thousands US dollars 2005 2006 2007 2008 Q1 2009 Cash & Cash equivalents $145,769 $174,567 $181,447 $312,169 $337,972 Total Current Assets (incl. cash) $191,734 $222,493 $276,053 $370,781 $396,349 Advances for vessels under $150,428 $261,242 $169,739
Slide 10: Financial Highlights (cont.)
Financial Highlights (cont.) Expressed in million US dollars 2004 2005 2006 2007 2008 Q1 2009 Av. Number of Vessels 27.3 26.1 33.8 41.7 44.1 46.0 Total Revenues $318 $296 $428 $501 $623 $126,311 TCE Revenues, net (2) $276 $260 $359 $429 $540 $111,223 Net Income $143.3 $161.8 $196.4 $183.2 $202.9 $24
Slide 11: Financial Highlights (cont.)
Financial Highlights (cont.) Dividend Payments (split adjusted) 2002 2003 2004 2005 2006 2007 2008 Installment 1 $0.25 $0.25 $0.35 $0.50 $0.63 $0.83 $0.90 Installment 2 $0.10 $0.25 $0.48 $0.55 $0.75 $0.90 $0.85 TOTAL: $0.35 $0.50 $0.83 $1.05 $1.37 $1.73 $1.75 Share Buyback Total Shares repurchased s
Slide 12: For more information please contact
For more information please contact: ● Paul Durham: pdurham@tenn.gr Chief Financial Officer ● George Saroglou: gsaroglou@tenn.gr Chief Operating Officer ● Harrys Kosmatos: hkosmatos@tenn.gr Corporate Development Officer Tsakos Energy Navigation, Ltd 367 Syngrou Avenue Athens 175 64 Greece Tel: +3021
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