Dynagas LNG Partners LP · NYSE:DLNG
Dynagas LNG Partners LP — Q2 2023 Earnings Presentation
13 slides from Dynagas LNG Partners LP's earnings presentation, Sep 15, 2023
Slide 1: Q2 2023 Financial Results Presentation
Q2 2023 Financial Results Presentation 15 September, 2023
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 and earnings per common unit (basic and diluted) of $14.4 million and $0.31, respectively; Adjusted Net Income (1) of $5.8 million and Adjusted Earnings (1) per common unit (basic and diluted) of $0.08; Adjusted EBITDA(1) of $23.0 million; 91.7% flee
Slide 5: Financial Performance
Financial Performance Stable Operating and Financial Performance Revenues ($m) Adjusted EBITDA ($m) Adjusted Net Income ($m) 40.0 14.0 30.0 35.0 12.0 25.0 30.0 10.0 25.0 20.0 8.0 20.0 15.0 6.0 15.0 10.0 4.0 10.0 5.0 2.0 5.0 0.0 0.0 0.0 q1 q2 q3 q4 q1 q2 q3 q4 q1 q2 q1 q2 q3 q4 q1 q2 q3 q4 q1 q2 q1 q
Slide 6: Financial Summary
Financial Summary Credit Metrics Quarterly Financials Other 4.3x $37.7 million Q2 2023 Net Debt to LTM EBITDA 2023 Special Surveys Q2 2023 revenues Arctic Aurora in q3 2023 44% Yenisei River in q3 2023(1) $8.8 million Q2 2023 Net Debt to Total Book Lena River in q3 2023 (1) Q2 2023 operating cash fl
Slide 7: Highlights
Highlights Q2 2023 Change in Cash Balance (USD thousands) $80,000 $23,015 $70,000 -$8,806 $60,000 -$5,431 $52,878 $6,132 $52,898 $50,000 -$12,000 -$2,890 $40,000 $30,000 $20,000 $10,000 $0 Adjusted EBITDA Working Capital Changes Preferred Distributions Cash Balance 06/30/2023 Cash Balance 03/31/2023
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 ~13.1 years(1) Average remaining charter n ~7.4 years(1)(2) duration n Equinor (Norway), SEFE Marketing &
Slide 9: Fleet Employment Overview
Fleet Employment Overview Size Charterer 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Clean Energy 150,000 SEFE (Singapore) Rio Grande LNG Ob River (1) 150,000 SEFE (Singapore) Amur River (1) 150,000 SEFE (Singapore) Yenisei River(2) 155,000 Yamal LNG (Singapore) 5+5+5 yrs L
Slide 10: Partnership Highlights
Partnership Highlights Current Status Strategic Objectives Since September 2019: Strengthen § Repaid $230m in debt(1) Long-term, high-quality contracts with major § Decreased Net Leverage from 6.6x to 4.3x(2) LNG companies Balance Sheet § Organically increased book equity value by 42% to $442.2m (2)
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) 2023 2022 2023 2022 Net Income $ 14,430 $ 11,117 $ 24,030 $ 34,999 Amortization of deferre
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, (In thousands of U.S. dollars) 2023 2022 2023 2022 Net income $ 14,430 $ 11,117 $ 24,030 $ 34,999 Net interest and finance costs (1) 9,222 5,958 18,402 11,038 Depreciation 7,951 7,920 15,816 15,739