Dynagas LNG Partners LP · NYSE:DLNG
Dynagas LNG Partners LP — Q2 2019 Earnings Presentation
13 slides from Dynagas LNG Partners LP's earnings presentation, Sep 27, 2019
Slide 1: Q2 2019 Financial Results Presentation
Q2 2019 Financial Results Presentation 27 September 2019
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 In addition, unpredictable or unknown factors herein also could have material adverse effects on forward-looking statements. Please read the Partnership’s filings with the Securities and Exchange Commission for more information regarding these factors and th
Slide 4: Recent Developments
Recent Developments Quarter Highlights Net income for the second quarter of $0.9 million; Adjusted EBITDA(1) for the second quarter of $20.9 million; Reported free cash of $112.9 million and available liquidity of $142.9 million as of June 30, 2019. Subsequent Highlights Declared quarterly cash dist
Slide 5: Q2'19 Financial Highlights
Q2’ 19 Financial Highlights USD in thousands (except for unit, average daily hire and other operational data) Q2 2019 Q1 2019 Q2 2018 Revenues 30,817 31,403 30,892 Adjusted Net Income (1) 771 1,731 4,526 Adjusted EBITDA (1) 20,875 21,716 24,443 Distributable Cash Flow (1) 4,907 5,782 8,670 Annualize
Slide 6: Refinancing
Refinancing New syndicated $675 million senior secured term loan, closed and funded on September 25, 2019 Use of funds: On September 25th, $470.4m was utilized to repay in full the outstanding principal under the Senior Secured Term Loan B. $250m (together with cash on hand) will be utilized to repa
Slide 7: Fleet Profile
Fleet Profile Fleet 6 LNG carriers 914,100 cbm (149,700 cbm for steam turbine LNG fleet, 155,000 cbm for the tri-fuel Total cbm capacity diesel engine LNG fleet (TFDE’s)) Fleet average age ~9.1 years(1) Average remaining charter duration ~9.0 years(1)(2) Equinor, Yamal (Total, CNPC, Silkro
Slide 8: Long Term Contracts Provide Stable, Visible Cash Flows
Long Term Contracts Provide Stable, Visible Cash Flows L NG Carrier Year Capacity Name Built (cbm) Charterer 2019 2020 2021 2022 Clean 2007 149,700 2026 Ener gy Ob River 2007 149,700 2028 (1) A m ur 2028 2008 149,700 River (1) (1) A r ctic 2013 155,000 A ur or a Yenis ei 2013 155,000 2033/34 River L
Slide 9: Market Share: Leader in Ice Class Trades
Market Share: Leader in Ice Class Trades Dynagas Group (DLNG and Sponsor) has an 82% market share of the LNG carriers with ice class 1A FS or equivalent notations The Company’s Arc-4 LNG/ice class 1A FS vessels may trade in conventional open water areas and in ice bound areas No material diffe
Slide 10: Dynagas LNG Partners LP Overview
Dynagas LNG Partners LP Overview High Quality Fleet Stable, Contracted Cash Flow Attractive Financial Profile 6 Vessels 100% Contracted Revenue Global Refinancing and Deleveraging The Partnership operates six large LNG As of July 1, 2019, all six of the Traditional amortizing term loan sets the carr
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 / (loss) per Common Unit Three Months Ended (In thousands of U.S. Dollars, except for units and per unit data) June 30, 2019 2018 Net income $ 932 $ 351 Amortization of deferred revenue (197) 139 Amortization of deferred charg
Slide 13: Reconciliation of Net income to Adjusted EBITDA
Reconciliation of Net income to Adjusted EBITDA 1 Three Months Ended Reconciliation to Net income June 30, (In thousands of U.S dollars) 2019 2018 Net income $ 932 $ 351 Amortization and write-off of deferred finance fees 807 814 Net interest and finance costs, excluding amortization 11,735 11,540 D