Globus Maritime Limited · NASDAQ:GLBS
Globus Maritime — Q3 2011 Earnings Presentation
21 slides from Globus Maritime's earnings presentation, Nov 21, 2011
Slide 1: 3rd Quarter 2011 Results Presentation
3rd Quarter 2011 Results Presentation 21st November 2011
Slide 2: Disclaimer – Forward Looking Statement
Disclaimer – Forward Looking Statement This presentation (and oral statements made regarding the subjects of this presentation) includes statements that are, or may be deemed to be, “forward-looking statements” as defined under U.S. federal securities laws. These forward-looking statements reflect t
Slide 3: Company Update Report
GLOBUS MARITIME LIMITED = ee
Slide 4: Company Update
Company Update Results • Net Income: $1.2 million, or $0.12 per share • Net Revenue: $8.3 million • Adj. EBITDA: $5.1 million • Avg. TCE: $14,912 / day / vessel • Avg. OPEX: $ 4,901 / day / vessel • Utilization Rate: 95.9% Update • In July we voluntarily prepaid $14.5m to the Credit Suisse reducing
Slide 5: Year to Date 2011 Highlights
Year to Date 2011 Highlights $ million, Q3 – Q2 - Q1 - Q3 - Q2 - Q1- except Days & 2011 2011 2011 2010 2010 2010 TCE Ownership Days 567 464 450 460 263 275 Daily TCE (excluding Bareboat revenues) 14,912 15,233 18,012 18,234 20,724 19,429 Gross Revenue 9.2 7.8 8.5 8.8 5.8 5.8 Net Revenue 8.3 6.9 7.5
Slide 6: Fleet and Employment Profile
Fleet and Employment Profile (as of November 18 2011) th Earliest Expected Vessel Daily Charter Charter Type Year Built DWT Charterer Name Rate(1) Expiration / remaining duration River Globe Supramax 2007 53,627 $14,500 mid Jan 2012 Allied $12,000/ Sky Globe Supramax 2009 56,855 Aug 2013 HMM $12,500
Slide 7: Time Charter Coverage
Time Charter Coverage 2011 2012 2013 Tiara Globe $20,000/day Spot River Globe $14,500/day Spot Star Globe $15,600/day Spot Sky Globe $12,000 & $12,500/day Jin Star Bareboat trade $14,250/day Sun Globe $16,000/day Moon Globe $18,000/day Spot 31-Dec-11 31-Dec-12 Charter Coverage 100% approx. 60% 44% 1
Slide 8: Strong Liquidity Position
Strong Liquidity Position $ million At Jun. 30, 2011 At Sept. 30, 2011 Cash 31.11 8.02 112.7 Total Debt 110.2 (undrawn)3 14.5 Net Debt4 79.1 104.7 Total Equity 138.2 139.3 Net Debt / Total 36.4% 42.9% Capitalization5 (1) Includes $1 of restricted cash at DSB (2) Includes $2 of restricted cash: $1 at
Slide 9: Market Update
Market Update Baltic TC routes ($/day) 18 November 2011 BCI: $28.340 BPI: $14.635 BSI: $14.438 BHSI: $9.388 2011 annual averages BCI: $14.092 BPI: $14.010 BSI: $14.518 BHSI: $10.765 9
Slide 10: Current Market Conditions
Current Market Conditions • Demand Side • Chinese GDP growth slowed to 9.1% in 3Q. CPI peaked at 6.5% in July, now back to 5.5%. • October PMI readings were mixed. (+: India, China, Japan, US. -:S.Korea, Taiwan, Eurozone). • Emerging markets regional trade is increasing while trade with developed co
Slide 11: Economic Drivers
Economic Drivers China – GDP growth & WPI inflation 14,0 % change from a year earlier 8,0 6,0 12,0 4,0 10,0 2,0 8,0 0,0 6,0 -2,0 -4,0 4,0 -6,0 2,0 -8,0 0,0 -10,0 2009 2009 2009 2009 2010 2010 2010 2010 2011 2011 2011 2011 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Real GDP Growth WPI Inflation Source: HSBC
Slide 12: Iron Ore Trade
Iron Ore Trade Source: Clarksons 12
Slide 13: Coal Trade
Coal Trade Source: Clarksons 13
Slide 14: Dry bulk fleet developments
Dry bulk fleet developments Source: Clarksons 14
Slide 15: Financial Summary
GLOBUS MARITIME LIMITED = ee
Slide 16: Operating Highlights
Operating Highlights Globus Maritime Q3 - 11 Q3 - 10 %Δ 9M 2011 9M 2010 %Δ Limited Ownership Days 567 460 23% 1,481 998 48% Available Days 567 460 23% 1,467 998 47% Operating Days 544 460 18% 1,439 989 46% Bareboat Charter Days 92 92 273 94 Average Number of 6.2 5.0 5.4 3.7 Vessels Fleet Utilization
Slide 17: Income Statement
Income Statement Globus Maritime Limited ($ 000s) Q3 - 11 Q2 - 11 Q1 - 11 Q4 - 10 Q3 - 10 Net revenue 8,344 6,931 7,466 7,963 7,972 Vessel operating expenses (2,328) (1,831) (1,583) (1,763) (1,486) Admin expenses1 (904) (892) (916) (1,084) (932) Other inc/(expenses), net - (20) (45) (16) 12 Adjusted
Slide 18: Balance Sheet
Balance Sheet Globus Maritime Limited 9/30/11 6/30/11 12/31/10 12/31/09 12/31/08 (US$ 000’s) Cash, Bank Balances & 8,018 31,093 24,618 59,157 65,342 Deposits 2,179 Other Current Assets(1) 3,013 1,901 2,278 3,029 +33,030(3) 218,911 Non-current Assets 246,139 191,556 93,204 216,075 3,030(2) Total Asse
Slide 19: Appendix
GLOBUS MARITIME LIMITED = ee
Slide 20: Executive Team
Executive Team George Karageorgiou, Chief Executive Officer Co-founder, Chief Executive Officer since September 2006 19 years shipping experience (5 years of which involved public company experience) − Projects engineer for Kassos Maritime Enterprises from 1990-1992 − Director and Corporate Secr
Slide 21: Contacts
Contacts Globus Maritime Limited George Karageorgiou Elias Deftereos Chief Executive Officer Chief Financial Officer info@globusmaritime.gr deftereos@globusmaritime.gr Tel: +30 210 960 8300 Tel: +30 210 960 8300 www.globusmaritime.gr Capital Link – New York Nicolas Bornozis Matthew Abenante +1 212 6