Globus Maritime Limited · NASDAQ:GLBS
Globus Maritime — Q1 2013 Earnings Presentation
22 slides from Globus Maritime's earnings presentation, May 29, 2013
Slide 1: 1st Quarter 2013 Results Company Presentation
1st Quarter 2013 Results Company Presentation 29 May 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 Q1 - 13 Q1 - 12 %change Total Comprehensive Income: $1.3 m $1.7 m -24% Earnings Per Share: $0.13 $0.16 -19% Revenue: $7.4 m $9.5m -22% Net Revenue: $6.9 m $9.3 m -26% Adj. EBITDA: $4.1 m $6.0 m -32% Avg. TCE1 (pvpd)2: $10,550 $14,764 -29% Avg. OPEX1 (pvpd)2: $3,870 $4,758 -19%
Slide 5: Operating Highlights
Operating Highlights Q1 2013 Q4 2012 Q3 2012 Q2 2012 Q1 2012 Ownership Days 630 644 644 637 637 Available Days 630 644 630 587 637 Operating Days 627 643 625 570 633 Bareboat Charter Days 90 92 92 91 91 Average No. of Vessels 7.0 7.0 7.0 7.0 7.0 Fleet Utilization 99.5% 100% 99.2% 97.1% 99.4% TCE1 (p
Slide 6: Fleet and Employment Profile (as of May 27, 2013)
Fleet and Employment Profile (as of May 27, 2013) Earliest Expected Daily Charter Charter Vessel Name Type Year Built DWT Charterer Rate(1) Expiration / remaining duration Tiara Globe Panamax 1998 72,928 Spot $8,000 June TATA NYK River Globe Supramax 2007 53,627 $7,600 Jan 2014 GMT Singapore Star Gl
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 $12,500/day Spot Jin Star $14,250/day Spot Sun Globe $16,000/day Spot Moon Globe $18,000/day Spot 1-June-13 31-Dec-13 31-Dec-14 50% 29% 1% 1. As of June 1, 2013 - based on the earliest anticip
Slide 8: Industry Section
GLOBUS MARITIME LIMITED
Slide 9: Current Market Conditions
Current Market Conditions Source: Galbraith’s Ltd 9
Slide 10: Current Market Conditions
Current Market Conditions Demand Side • Europe is struggling: less iron ore and coal demand. • China slow-down in industrial activity / growth but still compensating for European slack. • Reduction in ore and steel prices made China return to the market in Q1. • Chinese steel stocks rebuilt in Q1 no
Slide 11: Orderbook & Scrapping
Orderbook & Scrapping Source: 11
Slide 12: Improving Dry bulk supply fundamentals
Improving Dry bulk supply fundamentals Source: 12
Slide 13: Future Prospects
Future Prospects Drybulk fleet development scenario Drybulk fleet growth in million dwt " mf he rn | \ a TT ee 650 / x = |. 14% 600 / Y} 1} | 13% x Fea| NIL] | 2s E a 10% | | | Nator. r| | 10% 3 § 400 — = Py} fF fe%if | | i ; = oo FPP MET ig for rT 1) |i] fm & > poe i Cn) ee 200 | [yao | | I HH S| 4
Slide 14: Long term Demand trends intact
Long term Demand trends intact World GDP & Dry Bulk trade 14 14
Slide 15: Financials
GLOBUS MARITIME LIMITED
Slide 16: Statement of Comprehensive Income
Statement of Comprehensive Income ($ 000’s) Q1-13 Q4-12 Q3 - 12 Q2 - 12 Q1 - 12 Net revenue 6,931 6,972 6,571 4,895 9,309 Vessel operating expenses (2,090) (2,937) (2,545) (2,320) (2,598) Admin expenses1 (717) (1,212) (653) (691) (888) Other (expenses)/ income, net (24) (16) (16) (171) 135 Adjusted
Slide 17: Statement of Cash Flows
Statement of Cash Flows ($ 000’s) Q1-13 Q4-12 Q3 - 12 Q2 - 12 Q1 - 12 Net income/(loss) 1,320 (81,244) (796) (2,421) 1,657 Non Cash/operating items 2,808 84,602 4,246 4,231 4,609 Dry Docking cost (4) (22) (249) (670) - Working Capital movement (775) 2,302 (921) 1,518 (2,472) Cash from operations 3,3
Slide 18: Recent Developments
Recent Developments Q1-2013 • Paid the regular installment of $500k to DSB (now Commerzbank) in March; • Paid the regular installments of $440k & $416k to DVB in March; • End-of-March: Cash $12.8m(incl. $2.0m cash on pledge) • End-of-March: Bank Debt outstanding $104.6m Q2-2013 to date • Dry docked
Slide 19: Statement of Financial Position
Statement of Financial Position 31 / 03 / 13 31 / 12 / 12 31 / 12 / 11 31 / 12 / 10 ($ 000’s) Cash 10,815 9,653 7,301 23,618 Cash on pledge 2,000 2,000 2,000 1,000 Other Current Assets 3,983 4,227 4,166 2,278 Non-Current assets held for sale 8,876 8,876 - - Non-Current Assets 138,985 140,966 242,592
Slide 20: Appendix
GLOBUS MARITIME LIMITED
Slide 21: 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 22: 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 22