Slide 1: Earnings Presentation Quarter Ended June 30th, 2018
Earnings Presentation Quarter Ended June 30th, 2018 August 10th, 2018
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements in this presentation may be "forward-looking statements" within the meaning of federal securities laws. The matters discussed herein that are forward-looking statements are based on current management expectations that involve risks and uncertainties that may re
Slide 3: Key 2018 Developments: The EuroDry Spin-off
Key 2018 Developments: The EuroDry Spin-off The EuroDry spin-off took place as planned on 5/30/2018 in order to create two pure play Nasdaq listed shipping companies as Management believed that the mixed fleet nature of Euroseas was keeping shareholder value low and precluding the company from proce
Slide 4: EuroDry Fleet
EuroDry Fleet EuroDry Ltd. - DRYBULK CARRIERS Size Year Name Type DWT Built Ekaterini Kamsarmax 82,000 2018 Xenia Kamsarmax 82,000 2016 Alexandros P Ultramax 63,500 2017 Eirini P Panamax 76,000 2004 Pantelis Panamax 74,020 2000 Tasos Panamax 75,100 2000 Total / avg. age 6 vessels 452,620 8.9 Page 4
Slide 5: Employment Chart – Bulkers
Employment Chart – Bulkers Coverage: As of August, 2018 : 40% in 2018 & 33% in 2019 basis min durations 2018 2019 Jan Feb Mar Apr May June Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May June Jul Aug Sep Oct Nov Dec Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 EIRINI P 104% of BPI4TC 103.25% of BPI4TC PANTELIS $9,650 $8,800
Slide 6: Balance Sheet & Income Statement Highlights
Balance Sheet & Income Statement Highlights EuroDry: Key Balance Sheet Items - June 30, 2018 (million USD) Book Value of Vessels $103.4 Total Debt $53.1 Cash (Unrestricted & Restricted) $4.5 Current Liabilities $3.0 Other Current Assets $7.8 Preferred Equity $18.3 Other Long Term Assets $0.2 Shareho
Slide 7: Point in Drybulk Market Cycle
Point in Drybulk Market Cycle Panamax 1-Year Time Charter Rate Panamax 10-Year Old Historical Price Range $/day $m 90.000 40 80.000 Panamax 75,000 dwt 35 Max Price, 2000-2018 70.000 30 Avg Price, 2000-2018 Avg Panamax Rate Min Price, 2000-2018 60.000 25 Current Price, Aug-18 50.000 20 40.000 15 ? 30
Slide 8: Outlook Summary – Bulkers
Outlook Summary – Bulkers ➢ For 2018 we have already seen significant improvements across all sizes, with capesize rates leading the way lately ➢ Supply and demand fundamentals have been improving continuously since the lows of the market and the prospects appear well balanced for H2 2018 and 2019 ➢
Slide 9: Financial Highlights: 2nd Quarter and 1st Half of 2017 and 2018
Financial Highlights: 2nd Quarter and 1st Half of 2017 and 2018 Second Quarter Change First Half Change (in million USD except per share amounts) 2017 2018 % 2017 2018 % Net Revenues 4.7 6.1 29% 8.1 10.7 33% Net (Loss)/Income (0.3) 0.5 (1.1) (1.3) Preferred Dividends (0.1) (0.1) Net (Loss)/Income av
Slide 10: Fleet Data for 2nd Quarter and 1st Half of 2017 and 2018
Fleet Data for 2nd Quarter and 1st Half of 2017 and 2018 Second Quarter First Half Fleet Statistics 2017 2018 2017 2018 (unaudited) (unaudited) (unaudited) (unaudited) Number of vessels 5.00 5.60 4.90 5.30 Utilization Rate (%) Operational(1) 99.8% 100.0% 97.7% 99.6% (1) Commercial 100.0% 100.0% 100.
Slide 11: Drybulk Vessel Debt Repayment Profile & Cash Flow Breakeven
Drybulk Vessel Debt Repayment Profile & Cash Flow Breakeven Drybulk Fleet Debt Repayment Schedule Cash Flow Breakeven $20 ➢ Cash Flow Breakeven - budget estimate for next 12 months: $15 $18.6m $/vessel/day m illion $10 OPEX $ 5,000 $7.6m $8.8m $1.8m G&A $ 1,000 Interest $ 1,400 $5 Drydock $ 100 Loan
Slide 12: EuroDry Contacts
EuroDry Contacts EuroDry Ltd. c/o Eurobulk Ltd 4, Messogiou & Evropis Street 151 24 Maroussi, Greece www.eurodry.gr info@eurodry.gr Tel. +30-211-1804005 Fax.+30-211-1804097 or, Tasos Aslidis Nicolas Bornozis Chief Financial Officer Investor Relations EuroDry Ltd. Capital Link, Inc. 11 Canterbury Lan