Imperial Petroleum Inc. · NASDAQ:IMPP
Imperial Petroleum — FY2023 Earnings Presentation
10 slides from Imperial Petroleum's earnings presentation, Feb 13, 2024
Slide 1: FY 2023 Financial & Operating Results
FY 2023 Financial & Operating Results February 13, 2024
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: Key Highlights
Key Highlights Operational & Growth Fleet operational utilization of 68.5% in Q4 23’ compared to 79.4% in Q4 22’, due to vessel repositioning for commercial reasons and the drydocking of two vessels. 76% of fleet calendar days equivalent to 629 days in Q4 23’ were dedicated to spot activity. Fin
Slide 4: Fleet Employment Status
Fleet Employment Status Both handysize drybulk carriers are on short time charters expiring in February 2024 and April 2024. Product tanker the Magic Wand is currently under a short time charter employment. The rest of our tankers are operating in the spot market where rates remain favorable.
Slide 5: Tanker Market
Tanker Market During the last quarter of 2023 the tanker market was affected by several variables; On the one hand Tanker Market Timeline Q4 23’ we witnessed geopolitical pressures such as Israel’s conflict with Gaza and most recently the Houthi October 2023 attacks in the Red sea creating an upwa
Slide 6: Tanker Market and Handysize Drybulk Market
Tanker Market Crude Tankers Product Tankers (MRs) According to BIMCO cargo volume growth for crude tankers is Market conditions will support the increase of tonne mile expected to increase by 2.5% in 2024 and 1.5 % in 2025 distances for product tankers. The orderbook to fleet ratio for crude t
Slide 7: Financial Results Q4 23' & 12M 23'
Financial Results Q4 23’ & 12M 23’ Q4 2023 Revenues came in at $29.9 million in Q4 23’ compared to Income Statement Q4 Q4 12M 12M $37.9 million, a 31% decrease compared to Q4 22’ due to a (Amounts in USD'000s) 2022 2023 2022 2023 lower average number of vessels and softer market conditions in the
Slide 8: Financial Results 12M 22' & 12M 23'
Financial Results 12M 22’ & 12M 23’ Balanc e Sheet (Amounts in $'000s ) 12M 2022 12M 2023 As s ets Cash & cash equivalents 50,901 91,928 Time deposits 68,000 32,100 Free cash (incl. time deposits) as of December 31, 2023 of c. Receivables from related party 37,907 assets excl. cash 14,971 21,255 $
Slide 9: Financial Snapshot
Financial Snapshot Liquidity and Gearing Profitability, Growth and Values Considerations Going Forward c.$124 million of $35,000 per day Escalation of cash as of year annual average TCE geopolitical end 2023 pressures c. $9,000 c.$80 million daily cash flow Global recession and operating cash breake
Slide 10: Investment Highlights
Investment Highlights 1 Own a high-quality fleet of crude oil, product tankers and dry bulk carriers 2 Giving value back to shareholders through share buybacks and warrant repurchases 3 Active employment of vessels based on charter market developments 4 Debt free company with minimum capital commitm