Globus Maritime Limited · NASDAQ:GLBS
Globus Maritime — Q1 2014 Earnings Presentation
19 slides from Globus Maritime's earnings presentation, May 30, 2014
Slide 1: 1st Quarter 2014 Results
1st Quarter 2014 Results Company Presentation May 30th 2014
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
Slide 4: Company Update
Company Update Results Q1 – 14 Q1 – 13 %change Total comprehensive income: $1.1 million $1.3 million (15%) Revenue: $7.4 million $7.4 million - Net Revenue: $6.2 million $6.9 million (10%) Adj. EBITDA: $3.4 million $4.1 million (17%) Avg. TCE1 (pvpd)2: $9,248 $10,550 (12%) Avg. OPEX1 (pvpd)2: $4,115
Slide 5: Operating Highlights
Operating Highlights Q1 2014 Q1 2013 Ownership Days 630 630 Available Days 630 630 Operating Days 629 627 Bareboat Charter Days 90 90 Average No. of Vessels 7.0 7.0 Fleet Utilization 99.8% 99.5% TCE1 (pv/pd2) $9,248 $10,550 Operating Expeses1 (pv/pd2) $4,115 $3,870 (1) Excluding Bareboat charter day
Slide 6: Fleet and Employment Profile (as of May 30, 2014)
Fleet and Employment Profile (as of May 30, 2014) Earliest Daily Charter Expected Vessel Name Type Year Built DWT Charterer Rate(1) Charter Expiration $14,250 + Tiara Globe Panamax 1998 72,928 5th of July Bunge $435k bb River Globe Supramax 2007 53,627 $11,000 5th of June Noor Shipping Star Globe Su
Slide 7: Time Charter Coverage
Time Charter Coverage 2014 2015 Tiara Globe Spot River Globe Spot Star Globe Spot Sky Globe Spot Jin Star $14,250/day Spot Sun Globe $16,000/day Spot Moon Globe Spot 31-Dec-14 29% 1% Based on the earliest anticipated charter expiration dates 7
Slide 8: Industry Section
GLOBUS MARITIME LIMITED
Slide 9: Market Update 2014-H1
Market Update 2014-H1 Source: BRS Dry Bulk Newsletter Disconnect between Asset prices and spot rates 2014 H2 optimism Long term: stable Source: Baltic Exchange - Galbraiths 9
Slide 10: Panamax spot earnings (USD/day)
2014 — H1 Panamax spot earnings (USD/day) 40 000 35 000 30 000 25 000 20 000 \sD/day 15 000 10 000 5 000 ° jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 1S year high/low Ave. 2009-2013 —= 2013 2014 Argentina-Brazil grain and soybean exports 20 18 16 An y! 14 i [, Mill tons per month ) Jan Mar May
Slide 11: Financials
GLOBUS MARITIME LIMITED
Slide 12: Statement of Comprehensive Income
Statement of Comprehensive Income ($ 000’s) Q1-14 Q1- 13 Revenue 7,409 7,407 Voyage expenses (1,181) (476) Net revenue 6,228 6,931 Vessel operating expenses (2,222) (2,090) Admin expenses1 (612) (717) Other expenses, net (5) (24) Adjusted EBITDA 3,389 4,100 Gain on SWAPs - 189 Depreciation & amortiz
Slide 13: Total comprehensive income for the 1st Q 2014 compared to the 1st Q 2013
Total comprehensive income for the 1st Q 2014 compared to the 1st Q 2013 1st quarter of 2014 vs 1st quarter of 2013 in $000’s 39 265 0 335 (132) 89 46 19 (30) 31 1,320 (8) (189) 1,082 2 (705) 13
Slide 14: Statement of Financial Position
Statement of Financial Position 31 / 03 / 14 31 / 12 / 12 ($ 000’s) Cash 5,103 3,889 Cash on pledge and long term time deposit 2,000 2,000 Other Current Assets 5,191 4,700 Non-Current Assets held for Sale 11,366 11,366 Non-Current Assets 132,031 133,707 Total Assets 155,691 155,662 Total Debt 90,380
Slide 15: Statement of Cash Flows
Statement of Cash Flows Q1-14 Q1-13 ($ 000’s) Profit for the period 1,082 1,320 Non Cash/operating items 2,317 2,804 Dry Docking cost - - Change in operating assets and liabilities (591) (775) Cash from operations 2,808 3,349 Other asset acquisitions-Improvements (5) - Interest received 5 12 Cash fr
Slide 16: Liquidity position & recent developments
Liquidity position & recent developments As of 31/03/14 As of 31/12/13 (in US$ millions) Cash (1) 7.1 5.9 Debt 90.6 91.5 Shareholders equity 61.4 60.3 Total Capitalization (2) 152.0 151.8 Net Debt / Total Capitalization 54.9% 56.4% (1) Includes cash and cash equivalents, deposits on pledge and time
Slide 17: Appendix
GLOBUS MARITIME LIMITED
Slide 18: Executive Team
Executive Team George Karageorgiou, Chief Executive Officer Co-founder, Chief Executive Officer since September 2006 22 years shipping experience (10 years of which involved public company experience) − Projects engineer for Kassos Maritime Enterprises from 1990-1992 − Director and Corporate Sec
Slide 19: Contacts
Contacts Globus Maritime Limited George Karageorgiou President & CEO info@globusmaritime.gr Tel: +30 210 960 8300 www.globusmaritime.gr Capital Link – New York Nicolas Bornozis Paul Lampoutis +1 212 661 7566 globus@capitallink.com 19