Scorpio Tankers Inc. · NYSE:STNG
Scorpio Tankers — Q4 2021 Earnings Presentation
19 slides from Scorpio Tankers's earnings presentation, Feb 14, 2022
Slide 1: Fourth Quarter 2022 Earnings Presentation
Scorpio Tankers Inc. Fourth Quarter 2022 Earnings Presentation February 14, 2022
Slide 2: Disclaimer and Forward-looking Statements
Disclaimer and Forward-looking Statements This presentation includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Scorpio Tankers Inc.’s (“Scorpio’s”) curr
Slide 3: Q4-21 Call Agenda
Q4-21 Call Agenda 1.Q4 2021 Highlights 2.Product Tanker Market 3.Financial Highlights 4.Conclusion 5.Q&A 3
Slide 4: Q4 2021 Highlights
Q4 2021 Highlights 4
Slide 5: Q4 2021 Highlights
Q4 2021 Highlights Highlights Q4-21 TCE Rates ($/day) $13,982 $14,145 Financial Results $12,069 • $11,597 Adj EBITDA of $56.9 million • Adj net loss of $43.7 million or $0.79 basic and diluted loss per share (1) • Dividend of $0.10 per share Improving Balance Sheet & Liquidity Position • Completed t
Slide 6: Product Tanker Market
Product Tanker Market 6
Slide 7: Short Term Market Update
Short Term Market Update Clean Tanker Earnings (1) Global Gasoline & Distillate Inventories (2) ($/day) (million barrels) LR2 Tringulated Earnings MR Avg Earnings 1,100 1,057 $20,000 $18,032 1,011 1,000 972 969 983 $15,296 962 $15,000 938 937 904 900 881 876 $10,288 $10,890 $10,000 $7,342 $6,822 800
Slide 8: Ton Mile Demand Exceeds Pre-Covid Levels, Volumes are Next
Ton Mile Demand Exceeds Pre-Covid Levels, Volumes are Next Refined Product Ton Miles Exceeded Pre-Covid Levels in 2021 (1) Seaborne Refined Product Volumes Lower due to Inventory Draws (2) (million ton miles) (mb/d) Refined Product Exports (excl FO/NPC) Inventory Draws / (Builds) 750 20 18.6 18.2 17
Slide 9: Global Refined Product Demand to Reach Pre-Covid Levels in 2022
Global Refined Product Demand to Reach Pre-Covid Levels in 2022 Global Crude Oil Demand (1) Global Refined Product Demand (1) (mb/d) (mb/d) Diesel Gasoline Jet Fuel Naphtha 80 105.0 70 71 102 67 69 102 100 62 100 100.0 60 98 98 95.0 40 93 90.0 20 85.0 - 2019 2020 2021 Q1-22 Q2-22 Q3-22 Q4-22 2019 20
Slide 10: Limited Fleet Growth with Low Orderbook & High Scrapping
Limited Fleet Growth with Low Orderbook & High Scrapping Newbuild Vessels on Order at Record Low Scrapping at 20 Year High (# of Vessels) (# of Vessels) MR LR1 LR2 MR LR1 LR2 800 760 738 48 50 700 641 42 600 40 36 35 500 446 447 30 386 375 24 24 400 336 343 352 353 22 20 300 20 16 16 232 228 233 217
Slide 11: Financial Highlights
Financial Highlights 11
Slide 12: Strong Liquidity Position and Improving Balance Sheet
Strong Liquidity Position and Improving Balance Sheet Asset Values Indebtedness Millions $USD Millions $USD MR 5 Yr LR2 5 Yr $47.5 $50.0 $43.0 $3,500 $40.0 $3,220 $35.0 $3,164 $3,148 $29.0 $30.0 $30.0 $27.5 $3,000 $278 $2,871 $20.0 $2,500 $10.0 $2,000 $0.0 31-Mar-20 31-Dec-21 10-Feb-22 Debt Repaymen
Slide 13: Conclusion
Conclusion 13
Slide 14: Investment Highlights
Investment Highlights Inflection Point Largest & Most Improving Near as Modern Product Balance Sheet & Demand Tanker Fleet in Liquidity Continues to the World Position Recover Highly Attractive Significant Share Price at a Long Term Operating Steep Discount Supply/Demand Leverage to NAV Fundamentals
Slide 15: Q&A
Q&A 15
Slide 16: Appendix
Appendix 16
Slide 17: Quarterly Financial Performance
Quarterly Financial Performance (In '000s of USD) Q4-21 Q3-21 Revenue $ 147,908 $ 119,271 Vessel operating costs (85,059) (85,881) Voyage expenses (13) (661) Charterhire - - Depreciation (60,091) (60,115) Impairment of vessels and goodwill - - G&A (12,808) (13,054) Marger related transaction costs -
Slide 18: Year End Financial Performance
Year End Financial Performance (In '000s of USD) 2021 2020 Revenue $ 540,786 $ 915,892 Vessel operating costs (334,840) (333,748) Voyage expenses (3,455) (7,959) Charterhire - - Depreciation (240,253) (245,818) Impairment of vessels and goodwill - (16,846) G&A (52,746) (66,187) Marger related transa
Slide 19: www.scorpiotankers.com
www.scorpiotankers.com