Awilco Lng Asa · OSL:ALNG
Awilco Lng Asa — Q2 2021 Earnings Presentation
19 slides from Awilco Lng Asa's earnings presentation, Aug 27, 2021
Slide 1: Q2 2021
Q2 2021 August 27, 2021 www.awilcolng.no -1-
Slide 2: Disclaimer
Disclaimer This presentation may include certain forward-looking statements, forecasts, estimates, predictions, influences and projections regarding the intent, opinion, belief, various assumptions or current expectations of Awilco LNG (the “Company”) and it’s management with respect to, among other
Slide 3: Company overview
Company overview Awilco LNG is a fully integrated pure play LNG transportation provider, owning and operating LNG carriers. The Company owns and operates two 2013-built 156,000 cbm TFDE LNG carriers, WilPride and WilForce, trading in the medium term and spot market. Awilco LNG is listed on Euronext
Slide 4: Agenda
Agenda August 27, 2021 1. Highlights 2. Financials Q2 2021 3. Market update 4. Summary www.awilcolng.no -4-
Slide 5: Highlights
Highlights Awilco LNG achieved net result for the period of USD 3.3 million, equivalent to an earnings per share of USD 0.02. For first half 2021 net result ended at USD 10.2 million or USD 0.08 per share. Net TCE for second quarter and first half year ended at USD 66,500 per day and USD 78,000
Slide 6: Agenda
Agenda August 27, 2021 1. Highlights 2. Financials Q2 2021 3. Market update 4. Summary www.awilcolng.no -6-
Slide 7: Q2 2021 income statement
Q2 2021 income statement USD million Q2’21 Q1’21 2020 Freight income 12.7 17.6 35.6 Voyage related expenses (0.6) (1.4) (5.0) Net freight income 12.1 16.2 30.7 Other income - - (0.6) Operating expenses (2.4) (2.4) (8.9) Administration expenses (0.7) (1.0) (3.0) EBITDA 9.0 12.7 18.1 Depreciation (3.1
Slide 8: Q2 2021 financial position
Q2 2021 financial position USD million 30.06.21 31.03.21 31.12.20 Vessels 333.1 335.6 338.3 Other fixed assets 0.7 0.7 0.7 Total non-current assets 336.3 336.3 339.0 Trade receivables 2.7 0.4 0.1 Other short term assets 0.8 2.7 0.9 Cash and cash equivalents 17.1 13.3 12.6 Total current assets 20.7 1
Slide 9: Q2 2021 cash flow
Q2 2021 cash flow USD million Q2’21 Q1’21 2020 Cash Flows from Operating Activities: Profit/(loss) before taxes 3.3 6.9 (7.9) Income taxes paid - - - Interest and borrowing costs expensed 2.6 2.7 13.2 Depreciation, amortisation and impairment 3.1 3.1 12.5 Trade receivables, inventory and other short
Slide 10: Agenda
Agenda August 27, 2021 1. Highlights 2. Financials Q2 2021 3. Market update 4. Summary www.awilcolng.no - 10 -
Slide 11: Spot rates
Spot rates USD/DAY 250 000 200 000 150 000 100 000 50 000 - WW spot rate ST WW spot rate TFDE Historic ave. spot rate ST Historic ave. spot rate TFDE • Following a short lived seasonal weakness in March/April the market recovered to historical average over the summer • 1-yr TC market continue to be
Slide 12: LNG export and import
LNG export and import 2021 vs 2020 (YoY change) West Africa Russia North America North Africa Middle East and Gulf Latin America Europe Asia -12 -10 -8 -6 -4 -2 0 2 4 Import (in MT) Export (in MT) • Covid-19 had a serious impact on LNG demand in 2020 that was otherwise expected to increase by about
Slide 13: Gas prices
Gas prices USD/MMBTU 20 18 16 14 12 10 8 6 4 2 0 01.2018 03.2018 05.2018 07.2018 09.2018 11.2018 01.2019 03.2019 05.2019 07.2019 09.2019 11.2019 01.2020 03.2020 05.2020 07.2020 09.2020 11.2020 01.2021 03.2021 05.2021 07.2021 09.2021 11.2021 US (HH) Asia (JKM) Europe (TTF) • Despite increasing supply
Slide 14: Trainspotting
Trainspotting MTPA LNG TRAINS UNDER CONSTRUCTION MTPA 35 160 30 140 25 120 20 100 80 15 60 10 40 5 20 0 0 Started 2021 2021 2022 2023 2024 2025 2026 Total (RHS) • ~ 145 MTPA new capacity currently under construction • Further FIDs needed to meet expected demand from 2025 • More than 800 MTPA of new
Slide 15: LNG fleet and orderbook
LNG fleet and orderbook NO. VESSELS TOTAL FLEET 800 50 700 40 600 500 30 400 20 300 200 10 100 0 0 Fixed (LHS) Fixed Arc7s (LHS) Available (LHS) Delivered (LHS) Total fleet (RHS) • Newbuilding deliveries set to slow down in 2022 and 2023 comparesd to 2021 to support a strong market for the next year
Slide 16: Agenda
Agenda August 27, 2021 1. Highlights 2. Financials Q2 2021 3. Market update 4. Summary www.awilcolng.no - 16 -
Slide 17: Summary
Summary Increasing gas prices and continued recovery of global LNG demand support spot and multi month freight rates at good levels Few vessels available for upcoming winter season Mid- and long-term demand for LNG transportation remains strong ─ Tonne-mile demand growth expected from increase
Slide 18: A Fully Integrated Pure Play LNG Transportation Provider
A Fully Integrated Pure Play LNG Transportation Provider Two 2013 built TFDEs Tier 1 customers Solid owners Experienced Opportunistic strategy management team www.awilcolng.no - 18 -
Slide 19: Jon Skule Storheill, CEO; Per Heiberg, CFO
Jon Skule Storheill CEO Mobile: +47 913 44 356 E-mail: jss@awilcolng.no Per Heiberg CFO Mobile: +47 952 20 264 E-mail: pheiberg@awilcolng.no www.awilcolng.no - 19 -