Taylor Maritime Limited · LSE:TMI
Taylor Maritime — Taylor Maritime Investments — Q4 FY22 Earnings Presentation
14 slides from Taylor Maritime's earnings presentation, Apr 27, 2023
Slide 1: Q4 FY22 Trading Update
Q4 FY22 Trading Update 27 April 2023 Strictly Private and Confidential
Slide 2: Disclaimer
Strictly Private & Confidential Disclaimer Important disclosures - NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES (SAVE AS PROVIDED HEREIN), AUSTRALIA, SOUTH AFRICA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLA
Slide 3: Fourth Quarter Review – Highlights
Strictly Private & Confidential Fourth Quarter Review – Highlights On track to reach deleveraging target and well positioned to benefit from market upside Operating Performance Financial Stability and Sustainability Scale and Growth • Unaudited NAV per share increased from $1.67 to • Interim dividen
Slide 4: Debt Reduction Progress and Target
Strictly Private & Confidential Debt Reduction Progress and Target We are committed to reducing debt to c.25% by end of June through vessel sales and operating cashflow US$ million Q4 repayments Agreed vessel sales @25% debt to gross assets ratio Debt balance Debt balance Repayment to reach 31 Dec 2
Slide 5: Enhanced Potential Annual Cashflow Generation
Strictly Private & Confidential Enhanced Potential Annual Cashflow Generation Once 25% debt to gross assets ratio achieved, pro-forma combined fleet earnings potential greatly enhanced vs pre-Grindrod investment Potential Annual Cashflow Generation¹ Combined TMI & Grindrod Fleet (After achieving 25%
Slide 6: Synergies & Integration – TMI & GRIN
Strictly Private & Confidential Synergies & Integration – TMI & GRIN Synergies from a combined larger fleet starting to deliver with more to come as concrete plans are finalised with aim to implement over next two quarters • Commercial o Chartering – Coordinated marketing and geographic positioning
Slide 7: Fourth Quarter Review – Charter Market
Strictly Private & Confidential Fourth Quarter Review – Charter Market TMI earnings outperform the index for the third quarter in a row as outlook for 2023 improves Handysize & Supramax Market Spot Rates LTM vs TMI Net Average TC Rate Baltic Handysize Index (BHSI) Q4 FY22 30,000 2,500 LTM Average 20
Slide 8: Fourth Quarter Review – Portfolio Deployment
Strictly Private & Confidential Fourth Quarter Review – Portfolio Deployment Unlevered yield remains robust at c.17.5% gross with a net TC rate of c.$14,500 per day Average annualized unlevered gross cash yield Average Charter Cover Avg yield: c.17.5% Avg duration: 4 months Average net TC rate: 13%
Slide 9: Charter Market Outlook
Strictly Private & Confidential Charter Market Outlook Market rates made a swift recovery after the Chinese New Year and we anticipate further improvement as global demand growth normalises. Benefits of greater scale coming to the fore Market Outlook Chartering Strategy • We expect the market to imp
Slide 10: Outlook – Demand Fundamentals
Strictly Private & Confidential Outlook – Demand Fundamentals Global demand growth expected to normalize and recovery in China underway Commentary Grain and minor bulk trade development (billion tonne miles) ◼ Demand shaped by global population growth: Fertilizer, food and building 16,000 Billion to
Slide 11: Outlook – Supply Fundamentals
Strictly Private & Confidential Outlook – Supply Fundamentals Orderbook near historical lows with supply constrained to end of 2024 and possibly beyond Geared dry bulk supply development (dwt m) Handysize 37k dwt 10-year-old Secondhand Prices & Orderbook by Segment 8.0 Handysize 120 Orderbook as % o
Slide 12: Strategic Priorities
Strictly Private & Confidential Strategic Priorities Grindrod, mix of short, medium, long-term charters, deleveraging ◼ Short-term: Achieving deleveraging target of below 25% debt to gross assets and Capitalizing on the Grindrod transaction to enhance operating leverage and capture synergies and oth
Slide 13: Summary – investment attractions
Strictly Private & Confidential Summary – investment attractions Highly cash generative, attractive asset portfolio, internally managed by an experienced team, with a favourable market outlook 1 Significant owner in niche geared dry bulk market with a high quality diversified portfolio comprising 54
Slide 14: Questions
Strictly Private & Confidential Questions Strictly Private and Confidential
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