Tsakos Energy Navigation Ltd · NYSE:TEN
Tsakos Energy Navigation — Q3 2009 Earnings Presentation
12 slides from Tsakos Energy Navigation's earnings presentation, November 2009
Slide 1: Q3 2009 Earnings Conference Call Supplemental Information
1) Wovernberas) 2009) OY 2099 Earrings Corifersrics Call Supplemerita Information
Slide 2: Forward-looking statements disclaimer
This presentation may contain forward-looking statements that are not based on historical fact, including without limitation, statements containing the words “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions. Because these forward-looking statemen
Slide 3: Fleet Details (as of Sep. 30, 2009)
Fleet Details (as of Sep. 30, 2009) TOTAL FLEET (incl. vessels under construction) Ships: 52 Dwt: 5,658,595 Double Hull: 100% Average Age (existing): 6.6 years Average Age of World Fleet: 9.4 years Ice-class vessels: 23 Ice-class dwt: 2,010,837 CRUDE FLEET CLEAN / PRODUCT FLEET Ships: 27 Ships: 25 D
Slide 4: Fleet Composition (as of November 5, 2009)
Fleet Composition (as of November 5, 2009) 4 (1) 51% ownership
Slide 5: Blue Chip Clientele
; Blue Chip Clientele PETROBRAS E. Brarcinccmass lyondellbasell <
Slide 6: Employment Details
Employment Details As of November 5, 2009 (subject to change subject to upcoming charter renewals) • Secured Employment includes vessels on Time-Charter with Profit Share (16), Time-charter with Fixed Rate (11), CoA (2) & Bareboat (1) 6
Slide 7: Secured Employment
Secured Employment Based on employable dates – subject to change based on new deliveries and potential changes to in chartering policy 2010 2011 (as of Nov. 2009) (as of Nov. 2009) Minimum Revenues Minimum Revenues (guaranteed) (guaranteed) $200m $105m As of November 5, 2009 28 vessels with secured
Slide 8: Remaining Newbuilding Schedule
Remaining Newbuilding Schedule Aframax DWT Hull Type / Design Delivery 1. Sapporo Princess 105,000 Double Hull / DNA March 30, 2010 2. Uraga Princess 105,000 Double Hull / DNA July 4, 2010 3. S2034 158,000 Double Hull Q3 2011 4. S2035 158,000 Double Hull Q3 2011 Remaining New Building Capex: 2009: $
Slide 9: Financial Highlights – Balance Sheet
Financial Highlights – Balance Sheet Expressed in thousands US dollars 2005 2006 2007 2008 9mo 2009 Cash & Cash equivalents $145,769 $174,567 $181,447 $312,169 $270,348 Total Current Assets (incl. cash) $191,734 $222,493 $276,053 $370,781 $334,678 Advances for vessels under $150,428 $261,242 $169,73
Slide 10: Financial Highlights (cont.)
Financial Highlights (cont.) Expressed in million US dollars 2004 2005 2006 2007 2008 9mo 2009 Q3 2009 Av. Number of Vessels 27.3 26.1 33.8 41.7 44.1 46.3 47.0 Total Revenues $318 $296 $428 $501 $623 $347 $106 TCE Revenues, net (2) $276 $260 $359 $429 $540 $291 $86 Net Income $143.3 $161.8 $196.4 $1
Slide 11: Financial Highlights (cont.)
Financial Highlights (cont.) Dividend Payments (split adjusted) 2009 2002 2003 2004 2005 2006 2007 2008 (to date) Installment 1 $0.25 $0.25 $0.35 $0.50 $0.63 $0.83 $0.90 $0.30 Installment 2 $0.10 $0.25 $0.48 $0.55 $0.75 $0.90 $0.85 n/a TOTAL: $0.35 $0.50 $0.83 $1.05 $1.37 $1.73 $1.75 n/a Share Buyba
Slide 12: For more information please contact
For more information please contact: ! Paul Durham: pdurham@tenn.gr Chief Financial Officer ! George Saroglou: gsaroglou@tenn.gr Chief Operating Officer ! Harrys Kosmatos: hkosmatos@tenn.gr Corporate Development Officer Tsakos Energy Navigation, Ltd 367 Syngrou Avenue Athens 175 64 Greece Tel: +3021
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