Awilco Lng Asa · OSL:ALNG
Awilco Lng Asa — Q4 2023 Earnings Presentation
19 slides from Awilco Lng Asa's earnings presentation, Feb 28, 2024
Slide 1: Fourth quarter 2023
Fourth quarter 2023 February 28, 2024 www.awilcolng.no -1-
Slide 2: Disclaimer
Disclaimer This presentation may include certain forward-looking statements, forecasts, estimates, predictions, influences and projections regarding the intent, opinion, belief, various assumptions or current expectations of Awilco LNG (the “Company”) and it’s management with respect to, among other
Slide 3: Company overview
Company overview Awilco LNG is a fully integrated pure play LNG transportation provider, owning and operating LNG carriers. The Company currently own and operates two 2013-built 156,000 cbm TFDE LNG carriers, WilPride and WilForce, trading in the medium-term market. Awilco LNG is listed on Euronext
Slide 4: Agenda February 28, 2024
Agenda February 28, 2024 1. Highlights 2. Financials fourth quarter 2023 3. Market update 4. Summary www.awilcolng.no -4-
Slide 5: Highlights
Highlights Awilco LNG achieved the best ever quarterly net result of USD 14.9 million and earnings per share of USD 0.11 in the fourth quarter, up from a net result of USD 3.3 million and USD 0.03 per share in the third quarter 2023. The result for the year 2023 ended at an all-time high of USD 38
Slide 6: Agenda February 28, 2024
Agenda February 28, 2024 1. Highlights 2. Financials fourth quarter 2024 3. Market update 4. Summary www.awilcolng.no -6-
Slide 7: Fourth quarter 2023 income statement
Fourth quarter 2023 income statement USD million Q4’23 Q3’23 2023 2022 Freight income 22.4 15.6 80.7 51.5 Voyage related expenses (0.2) (0.7) (1.3) (6.2) Net freight income 22.2 14.9 79.4 45.3 Other income 5.0 0.0 5.0 0.4 Operating expenses (3.1) (2.8) (11.3) (11.0) Administration expenses (1.3) (1.
Slide 8: Fourth quarter 2023 financial position
Fourth quarter 2023 financial position USD million 31.12.23 30.09.23 31.12.22 Vessels 317.3 320.2 317.1 Other fixed assets 0.5 0.5 0.5 Total non-current assets 317.8 320.7 317.6 Trade receivables 2.8 2.4 3.8 Other short term assets 2.2 0.4 0.6 Cash and cash equivalents 27.1 25.0 26.1 Total current a
Slide 9: Fourth quarter 2023 cash flow
Fourth quarter 2023 cash flow USD million Q4’23 Q3’23 2023 2022 Cash Flows from Operating Activities: Profit/(loss) before taxes 14.9 3.3 38.3 5.8 Income taxes paid - - - - Interest and borrowing costs expensed 4.8 4.8 18.8 12.8 Depreciation, amortisation and impairment 3.4 3.2 12.9 12.7 Trade recei
Slide 10: Agenda February 28, 2024
Agenda February 28, 2024 1. Highlights 2. Financials fourth quarter 2024 3. Market update 4. Summary www.awilcolng.no - 10 -
Slide 11: Spot rates
Spot rates USD/DAY 350,000 300,000 250,000 200,000 150,000 100,000 50,000 - WW spot rate ST WW spot rate TFDE Historic ave. spot rate ST Historic ave. spot rate TFDE • The “winter market” surprised somewhat on the low side this year as most receivers were well stocked and temperatures relatively mil
Slide 12: LNG export and import
LNG export and import 2023 vs 2022 (YoY change) Russia North America Africa Middle East and Gulf Latin America Europe Asia -4 -2 0 2 4 6 8 10 Import (in MT) Export (in MT) • US exports continue to increase as can be expected in the next years to come • High storage levels and warm winter in Europe g
Slide 13: Gas prices
Gas prices USD/MMBTU 100 90 80 70 60 50 40 30 20 10 0 01/2020 04/2020 07/2020 10/2020 01/2021 04/2021 07/2021 10/2021 01/2022 04/2022 07/2022 10/2022 01/2023 04/2023 07/2023 10/2023 01/2024 04/2024 07/2024 10/2024 01/2025 04/2025 US (HH) Asia (JKM) Europe (TTF) • Gas prices continue to fall followin
Slide 14: Trainspotting – new LNG production
16 Trainspotting – new LNG production 700 14 MTPA LNG PROJECTS 650 MTPA 12 600 10 550 8 500 6 450 4 2 400 0 350 2024 2025 2026 2027 2028 2029 2030 Total capasity (RHS) • ~ 295 MTPA new capacity currently under construction or in advanced planning • of this ~90 MTPA are at potential risk should the U
Slide 15: LNG fleet and orderbook
LNG fleet and orderbook NO. VESSELS TOTAL FLEET 1200 100 1000 80 800 60 600 40 400 20 200 0 0 Fixed (LHS) Available (LHS) Delivered (LHS) Total fleet (RHS) • Orderbook for LNGC now stands at 340 of which about 10% are unfixed • Ordering activity is relatively subdued except for the massive Qatar pro
Slide 16: Agenda February 28, 2024
Agenda February 28, 2024 1. Highlights 2. Financials fourth quarter 2023 3. Market update 4. Summary www.awilcolng.no - 16 -
Slide 17: Summary
Summary The Company report a profit for the quarter of USD 14.9 million and an all-time high annual result of USD 38.3 million Finally settled the 2019 insurance claim related to WilForce of USD 5.0 million. Announced refinancing of both vessels which will significantly reduce cost and cash br
Slide 18: A Fully Integrated Pure Play LNG Transportation Provider
A Fully Integrated Pure Play LNG Transportation Provider Two 2013 built TFDEs Tier 1 customers Solid owners Experienced Opportunistic strategy management team www.awilcolng.no - 18 -
Slide 19: Jon Skule Storheill CEO
Jon Skule Storheill CEO Mobile: +47 913 44 356 E-mail: jss@awilcolng.no Per Heiberg CFO Mobile: +47 952 20 264 E-mail: pheiberg@awilcolng.no www.awilcolng.no - 19 -