Tsakos Energy Navigation Ltd · NYSE:TEN

Tsakos Energy Navigation — FY2011 Earnings Presentation

13 slides from Tsakos Energy Navigation's earnings presentation, Mar 16, 2012

  1. Slide 1: Q4 & YE 2011 Earnings Conference Call

    TEN Ltd Tsakos Energy Navigation March 16, 1 2012 Q4 & YE 2011 Earnings Conference Call

  2. 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 statements involve kno

  3. Slide 3: Corporate Highlights

    Corporate Highlights ! 50 vessels (proforma) ! Fleet utilization in 2011 at 97% ⇒!48 in operation ⇒!2 DP2 shuttle tanker suezmaxes ! 64% of remaining 2012 and 50% of 2013 available under construction days in secured revenue contracts ! Accumulated income since 2002 NYSE listing close to $1 billi

  4. Slide 4: 2011 & Q4 Highlights

    2011 & Q4 Highlights 2011 !Voyage Revenues: $395.2 million !Net Income / (Loss): $(89.5) million !Av. TCE per vessel per day: $16,047 !Av. Opex per vessel per day : $7,606 ! Sale of two aframax tankers (Opal Queen and Vergina II) with $5.0 million capital gains. $18.2 million released of free c

  5. Slide 5: Fleet (as of March 15, 2012)

    Fleet (as of March 15, 2012) CLEAN / PRODUCT TANKERS CRUDE TANKERS Dwt Built Hull Ice Class Dwt Built Hull Ice Class AFRAMAX - LR VLCC 1 Proteas 117,055 2006 DH 1A 1 Millennium 301,171 1998 DH 2 Promitheas 117,055 2006 DH 1A 2 La Madrina 299,700 1994 DH 3 Propontis 117,055 2006 DH 1A 3 La Prudencia

  6. Slide 6: Operational Fleet - Employment Details (as of March 15, 2012)

    Operational Fleet - Employment Details (as of March 15, 2012) 6 13 16 13 Time Charter (Fixed) Time Charter (Profit-Share) Pool (Spot Related) Spot Secured Employment 6 Note: Excluding 15 year contracts for two shuttle tankers to be delivered in 2013

  7. Slide 7: Secured Revenues (including TC, TC w/PS, Pool)

    Secured Revenues (including TC, TC w/PS, Pool) Based on employable dates and includes vessels time charter, pools – subject to change based on new deliveries and potential changes in TEN s chartering policy Remaining 2012 (end of Q1) 2013 64% 50% Fixed Fixed Minimum Revenues Minimum Revenues (Expect

  8. Slide 8: Sale & Purchase Activity – Capital Gains

    Sale & Purchase Activity – Capital Gains ! Sale & Purchase activity integral to operations – Close to 100 transactions - realizing actual value ! Since 2003 TEN has generated capital gains from its sale & purchase activity close to $280 million ! $29 million average per year in capital gains sinc

  9. Slide 9: Continuous Dividend Payments

    Continuous Dividend Payments On June 4th, 2010 the Board of Directors declared a change in TEN s dividend policy from semi-annual to quarterly payments ! Since initiation of dividend payments and including the recently announced quarterly payment, TEN has distributed a total of $9.225 per share to

  10. Slide 10: Income Statement

    Income Statement Three months ended Year ended December 31 December 31 STATEMENT OF INCOME DATA 2011 2010 2011 2010 Voyage revenues $ 100,795 $ 94,966 $ 395,162 $ 408,006 Commissions 3,817 2,246 14,290 13,837 Voyage expenses 35,066 18,313 127,156 85,813 Charter hire expense - - - 1,905 Vessel operat

  11. Slide 11: Balance Sheet

    Balance Sheet December 31 December 31 2011 2010 Cash and cash equivalents 175,708 276,637 Current assets, including cash 287,633 367,453 Investments 1,000 1,000 Financial instruments, net of current portion - 498 Advances for vessels under construction 37,937 81,882 Vessels 2,642,773 2,638,550 Accum

  12. Slide 12: Other Financial / Fleet Data

    Other Financial / Fleet Data Three months ended Year ended OTHER FINANCIAL DATA December 31 December 31 2011 2010 2011 2010 Net cash from operating activities $ 4,938 $ 15,824 $ 45,587 $ 83,327 Net cash used in investing activities $ (19,653) $ (121,775) $ (69,187) $ (240,115) Net cash (used in)/fro

  13. Slide 13: Tsakos Energy Navigation, Ltd

    TSAKOS ENERGY NAVIGATION, LTD 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 A

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