Slide 1: StealthGas Inc. 2nd Quarter & Six Months 2006 Results
StealthGas Inc. 2nd Quarter & Six Months 2006 Results NASDAQ: “GASS” Earnings Presentation August 22, 2006
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of applicable federal securities laws. Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of h
Slide 3: Business Strategy – Since IPO to Present Day
Business Strategy – Since IPO to Present Day Business Strategy Implementation Triple Fleet by mid-2006 • Expanded fleet to 28 vessels by end of Q2 2006 • In Q2 2006 acquired 4 additional vessels delivered by end of June 2006 expanding fleet to 28 vessels Moderate Leverage • Second Quarter 2006 net d
Slide 4: Fleet Development
Fleet Development Grew fleet to 28 vessels by end of Q2 2006 Stealth Gas ranks #1 in owned vessels in 3,000 to 8,000 CBM segment 28 28 IPO 24 4 24 21 2 20 3 16 12 Established 24 Oct. 2004 22 18 8 4 9 9 5 4 0 Q4 2004 Q1 2005 Q2 2005 Q3 2005 Q4 2005 Q1 2006 Q2 2006 Fleet Additional Vessels Page 4 Stea
Slide 5: Fleet Employment Profile
Fleet Employment Profile Page 5 StealthGas Inc. © 2006
Slide 6: 2nd Quarter & 6 Months 2006 Financial Highlights
2nd Quarter & 6 Months 2006 Financial Highlights 2nd Quarter 2006 ! Q2 Net income of $4.6 million, revenues of $17.2 million, EBITDA of $8.9 million ! EPS of $0.33 on 14 million shares outstanding – dividend declaration of $ 0.1875 per share ! Cash balance of $10.0 million ! Conservative leverage: n
Slide 7: 2nd Quarter & 6 Months 2006 Income Statement
2nd Quarter & 6 Months 2006 Income Statement In US$ 000, except Q4 2005 Q1 2006 Q2 2006 6M 2006 per share amounts Net Revenues $12,810 $16,938 $17, 215 $34,153 Operating Income 5,111 7,500 5,542 13,042 Net Income 4,536 6,959 4,621 11,580 EBITDA 7,181 10,160 8,869 19,029 EPS 0.33 0.50 0.33 0.83 Numbe
Slide 8: 2nd Quarter & 6M 2006 Operating Highlights – Fleet Data & Daily Results
2nd Quarter & 6M 2006 Operating Highlights – Fleet Data & Daily Results Fleet Data Q4 2005 Q1 2006 Q2 2006 6M 2006 Average number of vessels in fleet 15.1 22.4 25.1 23.8 Period end number of vessels in fleet 21.0 24.0 28.0 28.0 Total calendar days for fleet 1,387 2,019 2,280 4,299 Total voyage days
Slide 9: Daily Breakeven
Daily Breakeven Q2 2006 vs Q1 2006 Daily Cashflow and Net Income Breakeven Composition ($ per vessel per day) Q1 2006 fleet calendar days: 2,019 Q2 2006 fleet calendar days: 2,280 Q1 2006 Q2 2006 Expenses Cash Flow Net Cash Net Income Income Flow Operating $2,148 $2,148 $2,074 $2,074 Management Fees
Slide 10: Acquisition Capex
Acquisition Capex Equity investment of $130.1 million funded with $109.0 million net IPO proceeds and $21.1 million cash from operations Used approximately $6.5 million of Q2 2006 cash flow and $40.1 million of new debt to fund 4 additional vessels delivered by June 30, 2006 Q4 2005 Q1 2006 Q2 2006
Slide 11: Financial Estimator
Financial Estimator ($ in millions) 28 Vessels 2006E Spot Voyage Days 843 Daily Spot Charter Rate - 4,250 cbm vessel ? Spot Revenue ? Period Charter Revenue (T/C and Bareboat) $63.0 Total Revenue ? Operating Expenses 22.4 SG&A 5.2 Commissions 2.3 Maintenance CapEx 2.5 Total Expenses 32.4 EBITDA ? D&
Slide 12: Strong LPGC freight rates
Strong LPGC freight rates Average earnings in the spot market excluding waiting time / 1 yr TC rates 700 600 500 USD 1000 per month 15000 SR 400 8000 ETH 6500 SR 3500 SR 1yr TC 300 3500 PR 1yr TC 200 100 2000 2001 2002 2003 2004 2005 2006 Source: Inge Steensland AS Shipbrokers Page 12 StealthGas Inc
Slide 13: Charter Market Rate Indicator (12 Month TCs)
Charter Market Rate Indicator (12 Month TCs) (NEED NEW) Q2 2006 Average Current Q3 2006 Forecast 3,200 CBM S/R 305,000 305,000 305,000 3,500 CBM P/R 210,000 195,000 205,000 6,000 CBM S/R 430,000 430,000 450,000 15,000 CBM S/R 736,769 700,000 700,000 38,000 CBM 1,025,000 1,025,000 1,050,000 60,000 CB
Slide 14: Balanced outlook with average fleet growth ahead
Balanced outlook with average fleet growth ahead 3-7999 cbm fleet development vs TC rates/earnings* 600 16% Earnings/TC rates in USD 1000's /month (lines) 14% 500 12% Fleet growth in % (bars) 10% 400 8% 300 6% 4% 200 2% 0% 100 -2% - -4% 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 200
Slide 15: Contacts
Contacts Company Contact: Andrew J. Simmons Visit our Website at: Chief Financial Officer www.stealthgas.com StealthGas Inc. 011-30-210-6250-001 Weekly LPG Market Report E-mail: simmons@stealthgas.com updated every Monday www.stealthgas.com Comprehensive Investor Relations Information Investor Relat