Globus Maritime Limited · NASDAQ:GLBS
Globus Maritime — Q2 2013 Earnings Presentation
21 slides from Globus Maritime's earnings presentation, September 2013
Slide 1: 2nd Quarter 2013 Results Company Presentation
2nd Quarter 2013 Results Company Presentation Sept 2013
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 Q2 - 13 Q2 – 12 %change H1-13 H1-12 %change Total Comprehensive (loss)/ income: ($1.1)m ($2.4)m 54% $0.2m ($0.8)m 125% Revenue: $6.8m $7.7m -12% $14.3m $17.1m -16% Net Revenue: $5.8m $4.9 m 18% $12.8m $14.2m -10% Adj. EBITDA: $2.5m $1.7m 47% $6.6m $7.7m -14% Avg. TCE1 (pvpd)2:
Slide 5: Operating Highlights
Operating Highlights Q2 2013 Q2 2012 H1 2013 H1 2012 Ownership Days 637 637 1,267 1,274 Available Days 609 587 1,239 1,224 Operating Days 593 570 1,220 1,203 Bareboat Charter Days 91 91 181 182 Average No. of Vessels 7.0 7.0 7.0 7.0 Fleet Utilization 97.4% 97.1% 98.5% 98.3% TCE1 (pv/pd2) $8,838 $7,3
Slide 6: Fleet and Employment Profile (as of September 2013)
Fleet and Employment Profile (as of September 4 2013) th Earliest Daily Charter Expected Vessel Name Type Year Built DWT Charterer Rate(1) Charter Expiration Tiara Globe Panamax 1998 72,928 Spot Spot Spot River Globe Supramax 2007 53,627 $7,600 Jan 2014 GMT Singapore Star Globe Supramax 2010 56,867
Slide 7: Time Charter Coverage
Time Charter Coverage 2013 2014 2015 Tiara Globe Spot River Globe $7,600/day Spot Star Globe Spot Sky Globe $8,300/day Spot Jin Star $14,250/day Spot Sun Globe $16,000/day Spot Moon Globe $8,500/day Spot September 4th 2013 31-Dec-13 31-Dec-14 56% 29% 1% 1. As of September 4th, 2013 - based on the ea
Slide 8: Industry Section
GLOBUS MARITIME LIMITED
Slide 9: Market Update
Short term Market Update optimism for larger sizes Longer term optimism for all sizes N/B prices rising (+10%) Nom. Values bouncing from lows +15%-20% in smaller sizes Source: Baltic Exchange - Galbraiths 9
Slide 10: Past performance & Future Dynamics
Past performance & Future Dynamics Source: Braemar Seascope 10
Slide 11: Dry Bulk Fleet Developments
Dry Bulk Fleet Developments Source: Braemar Seascope 11
Slide 12: Iron Ore & Steel
Iron Ore & Steel Source: Braemar Seascope 12
Slide 13: Coal
Coal Source: Braemar Seascope 13
Slide 14: Financials
GLOBUS MARITIME LIMITED
Slide 15: Statement of Comprehensive Income
Statement of Comprehensive Income ($ 000’s) Q2-13 Q2 - 12 H1-13 H1-12 Revenue 6,849 7,660 14,256 17,118 Voyage expenses (1,022) (2,765) (1,498) (2,914) Net revenue 5,827 4,895 12,758 14,204 Vessel operating expenses (2,616) (2,320) (4,706) (4,918) Admin expenses1 (709) (691) (1,426) (1,579) Other ex
Slide 16: Statement of Financial Position
Statement of Financial Position 30 / 06 / 13 31 / 12 / 12 31 / 12 / 11 31 / 12 / 10 ($ 000’s) Cash 4,142 9,653 7,301 23,618 Restricted cash 2,000 2,000 2,000 1,000 Other Current Assets 4,074 4,227 4,166 2,278 Non-Current assets held for sale 8,682 8,876 - - Non-Current Assets 137,065 140,966 242,592
Slide 17: Statement of Cash Flows
Statement of Cash Flows ($ 000’s) Q2-13 Q2 - 12 H1-13 H1-12 Net (loss)/Income (1,133) (2,421) 187 (764) Non Cash/operating items 3,667 4,231 6,475 8,840 Dry Docking cost (837) (670) (841) (670) Working Capital movement 1,480 1,518 705 (954) Cash from operations 3,177 2,658 6,526 6,452 Vessel and oth
Slide 18: Bank Debt development during the 1st half of 2013
Bank Debt development during the 1st half of 2013 ($000’s) Balance as of December 31, 2012 (gross of unamortized discount) 105,929 Scheduled principal installments to DVB Bank (857) Scheduled principal installment to Commerzbank (500) Balance as of March 31, 2013 (gross of unamortized discount) 104,
Slide 19: Appendix
GLOBUS MARITIME LIMITED
Slide 20: 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 21: 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 Matthew Abenante +1 212 661 7566 globus@capitallink.com 21