Dynagas LNG Partners LP · NYSE:DLNG
Dynagas LNG Partners LP — Q1 2022 Earnings Presentation
13 slides from Dynagas LNG Partners LP's earnings presentation, Jun 28, 2022
Slide 1: Q1 2022 Financial Results Presentation
Q1 2022 Financial Results Presentation 28 June, 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 $23.9 million and earnings per common unit of $0.57; Adjusted Net Income(1) of $10.0 million and adjusted earnings per common unit of $0.19; Adjusted EBITDA(1) of $22.9 million; 100% fleet utilization. Special survey and dry docking of “Clean Ener
Slide 5: Financial Performance
Financial Performance Stable Operating and Financial Performance Revenues ($m) Adjusted EBITDA ($m) Adjusted Net Income ($m) $40.0 $30.0 $11.6 $11.4 $35.7 $34.3 $34.5 $33.9 $34.3 $34.4 $34.7 $10.7 $10.6 $33.4 $33.9 $33.3 $24.8 $24.7 $10.2 $10.4 $10.0 $24.0 $23.7 $24.1 $24.2 $24.4 $23.9 $23.6 $9.9 $2
Slide 6: Financial Summary
Financial Summary Credit Metrics Quarterly Financials Other 4.7x $33 million $13,998 Q1 2022 Net Debt to LTM EBITDA Q1 2022 Revenues Q1 2022 per day per vessel operating expenses 47% $23 million Q1 2022 Net Debt to Total Book Q1 2022 Adjusted EBITDA $62,268 Cap Q1 2022 Time Charter Equivalent per $1
Slide 7: Highlights
Highlights Q1 2022 Change in Cash Balance(1) (USD thousands) Quarter Highlights $140,000 $22,938 $9,026 72% of Adjusted EBITDA utilized to service principal and $120,000 -$2,564 interest. -$4,552 $106,620 -$12,000 -$2,891 -$352 $100,000 $97,015 Operating cash flow of $24.8m 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 ~11.9 years(1) Average remaining charter n ~6.6 years(1)(2) duration n Equinor (Norway), Gazprom Marketin
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 Clean Energy 150,000 Gazprom (Singapore) Ob River 150,000 Gazprom (Singapore) Amur River 150,000 Gazprom (Singapor
Slide 10: Partnership Highlights
Partnership Highlights Current Status Strategic Objectives Since September 2019: § Repaid $120m in debt Long-term, high-quality contracts with major Strengthen § Increased cash balance from $66m to $106m in q1 2022 LNG companies Balance Sheet § Decreased Net Leverage from 6.6x to 4.7x § 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 March 31, (In thousands of U.S. dollars except for units and per unit data) 2022 2021 Net Income $ 23,882 $ 15,865 Amortization of deferred revenue (79) 164 Amortization and write-off of defe
Slide 13: Reconciliation of Net income to Adjusted EBITDA
Reconciliation of Net income to Adjusted EBITDA Three Months Ended March 31, 1 (In thousands of U.S. dollars) 2022 2021 Net income $ 23,882 $ 15,865 Net interest and finance costs (1) 5,080 5,477 Gain on derivative instruments (16,381) (5,563) Class survey costs 2,564 - Depreciation 7,819 7,819 Amor