Dynagas LNG Partners LP · NYSE:DLNG
Dynagas LNG Partners LP — Q3 2022 Earnings Presentation
13 slides from Dynagas LNG Partners LP's earnings presentation, Dec 12, 2022
Slide 1: Q3 2022 Financial Results Presentation
Q3 2022 Financial Results Presentation 12 December, 2022
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 borrowings and to access debt and equity markets; planned capital expenditures and availability of capital resources to fund capital expenditures; our ability to maintain long-term relationships with major LNG traders; our ability to leverage our Sponsor’s r
Slide 4: Recent Developments
Recent Developments Quarter Highlights Net Income of $7.4 million and earnings per common unit of $0.12; Adjusted Net Income(1) of $4.5 million and Adjusted Earnings(1) per common unit of $0.04; Adjusted EBITDA(1) of $20 million; 100% fleet utilization; Special survey and dry docking of “Amur River”
Slide 5: Financial Performance
Financial Performance Stable Operating and Financial Performance Revenues ($m) Adjusted EBITDA ($m) Adjusted Net Income ($m) $40.0 $30.0 $11.6 $11.4 $35.7 $34.7 $10.7 $10.6 $33.9 $34.3 $34.4 $33.4 $33.9 $33.3 $33.4 $24.8 $24.7 $10.2 $10.4 $24.1 $24.2 $24.4 $23.9 $23.6 $9.9 $10.0 $22.9 $22.9 $10.0 $2
Slide 6: Financial Summary
Financial Summary Credit Metrics Quarterly Financials Other 4.8x $29.9 million Q3 2022 Net Debt to LTM EBITDA Q3 2022 Revenues 2022 Special Surveys Clean Energy completed in Q2 2022 46% $20 million Amur River completed in Q3 2022 Q3 2022 Net Debt to Total Book Q3 2022 Adjusted EBITDA Ob River comple
Slide 7: Highlights
Highlights Q3 2022 Change in Cash Balance(1) (USD thousands) $140,000 19,998 $120,000 5,207 100,233 -8,411 $100,000 -6,930 2,528 97,734 -12,000 -2,891 § 95% of Adjusted EBITDA utilized to service principal $80,000 and interest. $60,000 § Operating cash flow of $10.9m including working capital change
Slide 8: Fleet Profile
Fleet Profile Fleet n 6 LNG carriers n 914,100 cbm (149,700 cbm for steam turbine LNG fleet, 155,000 cbm for the tri-fuel diesel Total cbm capacity engine LNG fleet (TFDE’s)) Fleet average age n ~12.3 years(1) Average remaining charter n ~6.2 years(1)(2) duration n Equinor (Norway), SEFE Marketing &
Slide 9: Fleet Employment Overview
Fleet Employment Overview Size Charterer 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 SEFE Marketing & Trading Clean Energy 150,000 (Singapore) (2) SEFE Marketing & Trading Ob River (1) 150,000 (Singa
Slide 10: Partnership Highlights
Partnership Highlights Current Status Strategic Objectives Since September 2019: Strengthen § Repaid $163m in debt(1) Long-term, high-quality contracts with major § Decreased Net Leverage from 6.6x to 4.8x(2) LNG companies Balance Sheet § Increased book equity value by 33% to $415m § Sustainable bal
Slide 11: Appendix
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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 per Common Unit Three Months Ended Nine Months Ended September 30, September 30, (In thousands of U.S. dollars except for units and per unit data) 2022 2021 2022 2021 Net Income $ 7,393 $ 11,339 $ 42,392 $ 36,319 Amortization
Slide 13: Reconciliation of Net income to Adjusted EBITDA
Reconciliation of Net income to Adjusted EBITDA Three Months Ended Nine Months Ended September September 30, 30, 1 (In thousands of U.S. dollars) 2022 2021 2022 2021 Net income $ 7,393 $ 11,339 $ 42,392 $ 36,319 Net interest and finance costs (1) 7,441 5,274 18,479 16,105 Depreciation 8,027 7,992 23