Stealthgas, Inc. · NASDAQ:GASS
Stealthgas — Q3 2020 Earnings Presentation
15 slides from Stealthgas's earnings presentation, Nov 25, 2020
Slide 1: Financial & Operating Results Q3 2020
Financial & Operating Results| Q3 2020| November 25, 2020
Slide 2: Disclaimer
| Disclaimer This presentation contains forward-looking statements within the meaning of applicable federal securities laws. Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be dee
Slide 3: StealthGas Key Highlights
1| Highlights| StealthGas Key Highlights |Fleet & Operations • Fleet utilization of 96.9%- with 114 days of technical off hire as a result of five drydockings – all completed within Q3 2020. • Operational utilization of 96.0% mainly due to 10 of our ships being in the spot market - equivalent to 21.
Slide 4: Fleet Employment Analytics (As of November 2020)
1| Highlights| Fleet Employment Analytics (As of November 2020) 2020 2021 EARNINGS VISIBILITY Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Vessel Charter End Date Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug Sep O ct Nov Dec Name Type Rate 1 Gas Galaxy TC Sep 2022 2 Gas Exelero BB June 2022 3 Eco Chios BB J
Slide 5: Summary of our Two JVs
1| Highlights| Summary of our Two JVs Small LPG JV Structure- 1 • Two out of five vessels of our JV scheme EARNINGS VISIBILITY 2020 Q4 2020 Q1 2021 Q2 2021 2021 Q3 2021 Q4 2021 comprising mostly of small LPGs, are under Vessel Name Charter Type End Date Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oc
Slide 6: Recent S&P Activity
1| Highlights| Recent S&P Activity • At the end of September, we took delivery of a 7,500 cbm pressurized LPG vessel, the Eco Alice. • Up until February 2021, we have one more vessel to be delivered, the Eco Blizzard, an 11,000 cbm LPG newbuilding vessel. • Financing for this vessel is already commi
Slide 7: LPG Fleet Trading Profile
Rest France EU-18 vessels 1| Highlights| LPG Fleet Trading Profile Spa… Poland UK Portugal • StealthGas focuses on regional trade and local distribution of gas. • Fleet trading pattern is geographically diversified and is continuously adjusted to market needs. • Our LPG fleet (incl. semi-refs) tradi
Slide 8: Income Statement Q3 19 vs Q3 20
2| Financials| Income Statement Q3 19 vs Q3 20 Income Statement Q3 Q3 9M 9M (Amounts in USD'000s) 2019 2020 2019 2020 Comparing Q3 2020 to Q3 2019 Voyage revenues 36,568 37,080 109,095 107,709 - Revenues came in at $37.1 million in Q3 20’ marking an increase of $0.5 Voyage costs (4,930) (3,772) (12,
Slide 9: Performance Highlights & Analysis
2|Financials |Performance Highlights & Analysis |Performance Highlights Fleet Data Q3 2019 Q3 2020 9M 2019 9M 2020 Period end number of owned vessels in fleet 41 43 41 43 • Operational utilization of c.96 % in Q3 20’, a fair performance given a soft Total calendar days for fleet 4,045 3,865 12,376 1
Slide 10: Balance Sheet 9M 2020
2|Financials | Balance Sheet 9M 2020 Balance Sheet (Amounts in $'000s) 12M 2019 9M 2020 • Liquidity on GASS balance sheet, including restricted Assets cash is close to $42 million while, to date, our total Cash & cash equivalents 68,465 27,586 Current assets excl. cash 9,467 8,856 liquidity has incr
Slide 11: LPG Sector Highlights & Trends
3|Market update| LPG Sector Highlights & Trends • The COVID-19 pandemic and related uncertainty continue to govern the LPG market. Europe: Market was soft fro most of the third quarter. Terminals continued to go off line for |US Gas Plant Production Outlook maintenance as a means to offset the broad
Slide 12: LPG Sector Highlights & Trends
3|Market update| LPG Sector Highlights & Trends • Due to the ongoing market disruption as a result of the COVID-19 pandemic, rates for small LPGs in Q3 2020 declined across all segments. |Small LPG Daily Charter Rates Evolution ($) • Employment for larger coasters i.e 7,500 cbm remained relatively s
Slide 13: Share Performance
4|Share Performance 20% Crude Oil StealthGas Inc. Dorian Lpg Ltd Navigator Holdings Ltd. 0% -20% -40% -60% -80% -100% 1/1/2020 2/1/2020 3/1/2020 4/1/2020 5/1/2020 6/1/2020 7/1/2020 8/1/2020 9/1/2020 10/1/2020 11/1/2020 • The global COVID-19 outbreak and imposed lockdown, resulted in a fall in demand
Slide 14: Outlook, Forecast, Considerations Going Forward
5|Outlook|Forecast|Considerations Going Forward • Given the turbulent and uncertain market, it is quite difficult to predict revenue and profitability. • Below are key variables that will affect our performance going forward. |GASS Financial & Market Forecast Considerations ❖ Good period rates for a
Slide 15: Why StealthGas?
5|Outlook|Why StealthGas? StealthGas Strengths Positive Market Drivers Our Company’s core value lies on the following: Market Factors that will positively affect our segment and consequently our Company: ✓ Conservative chartering policy and capital structure management with total (incl. JVs) secured