Dynagas LNG Partners LP · NYSE:DLNG
Dynagas LNG Partners LP — Q4 2021 Earnings Presentation
13 slides from Dynagas LNG Partners LP's earnings presentation, Mar 18, 2022
Slide 1: Q4 2021 Financial Results Presentation
Q4 2021 Financial Results Presentation 18 March, 2022
Slide 2: Forward Looking Statements and Disclaimer
Forward Looking Statements and Disclaimer This presentation contains certain statements that may be deemed to be “forward-looking statements” within the meaning of applicable federal securities laws. All statements included in this presentation which are not historical or current facts (including ou
Slide 3: Forward Looking Statements and Disclaimer
Forward Looking Statements and Disclaimer borrowings and to access debt and equity markets; planned capital expenditures and availability of capital resources to fund capital expenditures; our ability to maintain long-term relationships with major LNG traders; our ability to leverage our Sponsor’s r
Slide 4: Recent Developments
Recent Developments Quarter Highlights Net Income of $16.9 million and earnings per common unit of $0.38; Adjusted Net Income(1) of $11.4 million and adjusted earnings per common unit of $0.23; Adjusted EBITDA(1) of $24.7 million; 100% fleet utilization. Russian Sanctions Developments(2) As of today
Slide 5: Financial Performance
Financial Performance Stable Operating and Financial Performance Revenues ($m) Adjusted EBITDA ($m) Adjusted Net Income ($m) $40.0 $30.0 $11.6 $11.4 $35.7 $34.3 $34.5 $33.9 $34.3 $34.4 $34.7 $10.7 $10.6 $33.4 $33.9 $24.8 $24.7 $10.2 $10.4 $24.0 $23.7 $24.1 $24.2 $24.4 $23.9 $23.6 $9.9 $10.0 $30.0 $2
Slide 6: Financial Summary
Financial Summary Credit Metrics FY Financials Other 4.8x $138 million $14,799 Q4 2021 Net Debt to LTM EBITDA FY 2021 Revenues Q4 2021 per day per vessel operating expenses 50% $97 million Q4 2021 Net Debt to Total Book Cap FY 2021 Adjusted EBITDA $63,620 Q4 2021 Time Charter Equivalent per day $97
Slide 7: Highlights
Highlights Q4 2021 Change in Cash Balance(1) (USD thousands) Quarter Highlights $140,000 $120,000 $24,694 68% of Adjusted EBITDA utilized to service principal and -$4,760 $1,063 interest. $100,000 $97,015 $91,316 -$12,000 -$2,891 -$407 Operating cash flow of $21m including working capital $80,000 ch
Slide 8: Fleet Profile
Fleet Profile Fleet n 6 LNG carriers Total cbm capacity n 914,100 cbm (149,700 cbm for steam turbine LNG fleet, 155,000 cbm for the tri-fuel diesel engine LNG fleet (TFDE’s)) Fleet average age n ~11.6 years(1) Average remaining charter duration n ~6.9 years(1)(2) n Equinor (Norway), Gazprom Marketin
Slide 9: Fleet Employment Overview
Fleet Employment Overview Size Charterer 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 Clean 150,000 Gazprom (Singapore) Energy Ob River (1) 150,000 Gazprom (Singapore) Amur River (1) 150,000 Gazprom (
Slide 10: Overview
Overview Long-term, high-quality contracts with major Five out of six LNG Carriers with ice class 1A LNG companies FS or equivalent notations (Arc-4 LNG Carriers). Experienced operator in ice class trades and Arc-4 LNG Carriers function as conventional and conventional LNG shipping ice class LNG car
Slide 11: Appendix
Appendix 10
Slide 12: Reconciliation of net income to adjusted Net Income and Adjusted Earnings per Common Unit
Reconciliation of net income to adjusted Net Income and Adjusted Earnings per Common Unit Three Months Ended December 31, Year Ended December 31, (In thousands of U.S. dollars except for units and per unit data) 2021 2020 2021 2020 Net Income $ 16,941 $ 10,643 $ 53,260 $ 34,052 Amortization of defer
Slide 13: Reconciliation of Net income to Adjusted EBITDA
Reconciliation of Net income to Adjusted EBITDA 1 Three Months Ended December 31, Year Ended December 31, (In thousands of U.S. dollars) 2021 2020 2021 2020 Net income $ 16,941 $ 10,643 $ 53,260 $ 34,052 Net interest and finance costs (1) 5,315 5,711 21,420 26,837 Depreciation 7,993 7,993 31,710 31,