Dynagas LNG Partners LP · NYSE:DLNG
Dynagas LNG Partners LP — Q2 2022 Earnings Presentation
13 slides from Dynagas LNG Partners LP's earnings presentation, Sep 23, 2022
Slide 1: Q2 2022 Financial Results Presentation
Q2 2022 Financial Results Presentation 23 September, 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 $11.1 million and earnings per common unit of $0.22; Adjusted Net Income(1) of $9.1 million and adjusted earnings per common unit of $0.17; Adjusted EBITDA(1) of $22.9 million; 100% fleet utilization; Special survey and dry docking of “Clean Energ
Slide 5: Financial Performance
Financial Performance Stable Operating and Financial Performance Revenues ($m) Adjusted EBITDA ($m) Adjusted Net Income ($m) $40.0 $30.0 $11.6 $11.4 $35.7 $34.5 $33.9 $34.3 $34.4 $34.7 $10.7 $10.6 $33.4 $33.9 $33.3 $33.4 $24.8 $24.7 $10.2 $10.4 $10.0 $24.4 $23.9 $23.7 $24.1 $24.2 $23.6 $10.0 $9.9 $2
Slide 6: Financial Summary
Financial Summary Credit Metrics Quarterly Financials Other 4.6x $33 million $13,588 Q2 2022 Net Debt to LTM EBITDA Q2 2022 Revenues Q2 2022 per day per vessel operating expenses 46% $23 million Q2 2022 Net Debt to Total Book Q2 2022 Adjusted EBITDA $62,054 Cap Q2 2022 Time Charter Equivalent per $9
Slide 7: Highlights
Highlights Q2 2022 Change in Cash Balance(1) (USD thousands) Quarter Highlights $140,000 $22,940 76% of Adjusted EBITDA utilized to service principal and $120,000 -$2,821 $106,620 -$5,442 -$6,493 interest. $319 $100,233 $100,000 -$12,000 -$2,890 Operating cash flow of $8.2m including working capital
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 ~12.1 years(1) Average remaining charter n ~6.4 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: § Repaid $132m in debt Long-term, high-quality contracts with major Strengthen § Increased cash balance from $66m to $100m in q2 2022 LNG companies Balance Sheet § Decreased Net Leverage from 6.6x to 4.6x § Increased bo
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 Six Months Ended June June 30, 30, (In thousands of U.S. dollars except for units and per unit data) 2022 2021 2022 2021 Net Income $ 11,117 $ 9,115 $ 34,999 $ 24,980 Amortization of deferred
Slide 13: Reconciliation of Net income to Adjusted EBITDA
Reconciliation of Net income to Adjusted EBITDA Three Months Ended June 30, Six Months Ended June 30, 1 (In thousands of U.S. dollars) 2022 2021 2022 2021 Net income $ 11,117 $ 9,115 $ 34,999 $ 24,980 Net interest and finance costs (1) 5,958 5,354 11,038 10,831 Depreciation 7,920 7,906 15,739 15,725