C3is Inc. · NASDAQ:CISS
C3is — Q1 2024 Earnings Presentation
15 slides from C3is's earnings presentation, May 28, 2024
Slide 1: Q1 2024 Financial & Operating Results
Q1 2024 Financial & Operating Results C3is Inc.
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 deeme
Slide 3: C3is Inc. Highlights
C3is Inc. Highlights EBITDA of $5.7 million – an increase of 301% from Q1 2023 Net Income of $3.8 million – an increase of 404% from Q1 2023 Q1 2024 Financial Results Vessels NBV of $73.8 million – an increase of 93% from Q1 2023 Quarterly TCE Rates Cash of $34.9 million – an increase of 285% from Q
Slide 4: Public Offerings - $18 Million of Gross Cash Proceeds
Public Offerings - $18 Million of Gross Cash Proceeds Since our Spin-off in June 2023, our cash balance increased by 288% & our fleet capacity has been expanded by 234% Initial Cash At the time of our Spin-off in June 2023, $25.00 Balance at Spin-off Imperial Petroleum Inc. contributed a working c
Slide 5: Drybulk Trade in Q1 2024
Drybulk Trade in Q1 2024 Global steel output rose 1% YoY, driven by activity outside China. Production in STEEL China fell 3%, but China still accounted for 54% of the total. China’s imports of iron ore increased by 5.3%, a 5-year seasonal high. World’s IRON ORE seaborne iron ore trade rose 5%,
Slide 6: Drybulk Market Fundamentals
Drybulk Market Fundamentals Attractive Market Opportunities Ahead Dry Bulk and Minor Bulk Trade Growth Demand for dry bulk commodities (iron ore, coal, grains, minor bulks) 6% 5% World Dry bulk demand in tonne-mile terms is expected to increase by 3.6% Seaborne Dry 4% in 2024 Bulk Trade % Yr/Yr
Slide 7: Tanker Market Fundamentals
Tanker Market Fundamentals Attractive Market Opportunities Ahead Crude Oil Tanker DWT Demand Growth Global Macroeconomic Outlook – Oil Production 10% 8.8% Despite the ongoing crude oil production cuts enforced by OPEC+ 8% 5.2% members, industry participants believe that the tanker market 6% 4.2%
Slide 8: Handysize BC Fleet Age and Growth
Handysize BC Fleet Age and Growth Handysize BC Fleet Profile Handysize BC Age Profile (as of May 2024) Orderbook for Handysize dry bulk carriers (10,000 – 44,999 dwt) stood at 9% of the existing fleet as of May 2024 40% 39% 35% Compared to year end 2023, orderbook for Handysize dry bulk 30% carr
Slide 9: Aframax Tankers Fleet Age and Growth
Aframax Tankers Fleet Age and Growth Aframax Tanker Fleet Profile Aframax Tanker Age Profile (as of May 2024) Orderbook for Aframax tanker vessels (85,000 – 124,999 dwt) 30% stands at just 6% of the existing fleet in May 2024 29% 25% As compared to year end 2023, orderbook for Aframax tanker ves
Slide 10: C3is Fleet
C3is Fleet Fleet consisting of three Handysize drybulk carriers and one Aframax oil tanker Capacity DD/SS Next Employment Earliest Expiration Vessel Name Vessel Type Year Built Yard Built (dwt) Passed SS Status of Charter Hakodate Handysize Eco Bushfire 2011 32,000 Shipyard, Q2 2021 Q2 2026 Time Cha
Slide 11: Strategic Relationships & Competitive Position
Strategic Relationships & Competitive Position C3is & its predecessor have strong market recognition as quality and reliable operators C3is management & the Manager have developed strong relationships and have experienced repeat business with international charterers. Repeat business highlights
Slide 12: Financial Update - Income Statement (Q1 2024 v/s Q1 2023)
Financial Update - Income Statement (Q1 2024 v/s Q1 2023) Income Statement Voyage Revenues of $12.8 million for the first quarter of 2024, All amounts in USD ' 000s Q1 2023 Q1 2024 corresponding to a daily TCE of $36,480. Voyage Revenues 3,152 12,792 Net Revenues increased by 247% from Q1 2023.
Slide 13: Financial Update - Balance Sheet (December 31 2023 & March 31 2024)
Financial Update - Balance Sheet (December 31 2023 & March 31 2024) Balance Sheet All amounts in USD ' 000s December 31 2023 March 31, 2024 First quarter 2024 Cash & cash equivalents of $35 Cash and Cash equivalents 9,064 34,948 million, an increase of 285%from Q4 2023. Other Current Assets 11,247
Slide 14: Business Strategy
Business Strategy Owning a high-quality fleet reduces operating costs, improves safety and provides a High Quality competitive advantage in securing favorable charters Fleet Maintain the quality of vessels by carrying out regular inspections, both while in port and at sea, and adopting a comprehen
Slide 15: C3is Inc.
Thank you Athens Office 331, kifisias avenue 14561 kifisia c3is.pro Greece C3is Inc.