Bw Lpg Limited · OSL:BWLPG

Bw Lpg — Aurora LPG Holding — Q3 2015 Earnings Presentation

9 slides from Bw Lpg's earnings presentation, Nov 24, 2015

  1. Slide 1: Aurora LPG Third quarter 2015 presentation

    AURORA LPG Third quarter 2015 presentation November 24 CEO Børge Johansen & CFO Nikolai Jebsen

  2. Slide 2: Disclaimer

    DISCLAIMER THE PRESENTATION AND ITS APPENDICES (JOINTLY THE “PRESENTATION”) HAVE BEEN PREPARED BY AURORA LPG HOLDING ASA (THE “COMPANY”) FOR INFORMATION PURPOSES ONLY. THE RECEIPT OF THIS PRESENTATION IS PERSONAL, AND THE PRESENTATION MAY NOT REPRODUCED, REDISTRIBUTED OR PASSED ON, IN WHOLE OR IN PA

  3. Slide 3: Q3 Summary

    Q3 SUMMARY  TCE USD 108,000/d in spot market  TCE revenue of USD 24M – blended TCE USD 87,000/d (spot plus contract exposure)  Net profit of USD 18M  Dividend USD 10 cents – payable in December 2015, ex- and pay-dates to follow  The Kexim/ABN AMRO facility is fully committed and subject only to

  4. Slide 4: Profit & Loss

    PROFIT & LOSS  Financial performance at satisfactory levels  Continued focus on costs  OPEX USD 6,900/d  Commercial USD 700/d  Admin USD 2,200/d  EBITDA USD 21M  EPS 63 cents  DPS 10 cents 4 © Aurora LPG

  5. Slide 5: Cash Flow

    CASH FLOW  WC reduction of 13M  Operating cash flow USD 1.15/NOK 10 per share  USD 25M invested in new builds  Remaining yard installments per Nov 24, 2015 of approximately USD 319 million of which USD 300 million is marked for debt finance  USD 250 of 300 million either committed and documente

  6. Slide 6: Balance Sheet

    BALANCE SHEET  USD 144M new build installments  USD 75M average book value second hand vessels  Assets USD 391M  Equity USD 279M  Equity ratio: 71%  NIBD/EBITDA 1.2x  Strong and flexible balance sheet 6 © Aurora LPG

  7. Slide 7: Strategic Discussion Points

    STRATEGIC DISCUSSION POINTS  Aurora takes delivery of 3 HHI built VLGCs end March 2016  Further 2 vessels delivered in Q2 2016 and 1 vessel in Q3 2016  Aurora currently has a consistent and balanced dividend policy which is aimed at returning as much cash to its shareholders while at the same tim

  8. Slide 8: Key Assumptions

    2016: POSSIBLY AS STRONG AS 2014/2015 KEY ASSUMPTIONS  Flat US LPG production  43 and 20 new vessels in 2016 and 2017  Marginal change in share of vessels going through Panama Canal (Above 30% of WC South Am and Asia volumes already go through canal)  Asian demand increases significantly – incre

  9. Slide 9: Aurora LPG Holding ASA

    AURORA LPG HOLDING ASA Address Aurora LPG Holding ASA Dronningen 1 0287 Oslo Norway Contact CEO: Børge F. Johansen mobile +47 41 41 44 44 bfj@auroralpg.com CFO: Nikolai C.H. Jebsen mobile +47 46 28 22 22 nj@auroralpg.com COO: Sujoy K. Seal mobile +47 94 81 66 76 sks@auroralpg.com 9 © Aurora LPG

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