Stealthgas, Inc. · NASDAQ:GASS

Stealthgas — Q2 2023 Earnings Presentation

13 slides from Stealthgas's earnings presentation, Aug 18, 2023

  1. Slide 1: StealthGas Inc. Q2 2023 Financial and Operating Results

    StealthGas Inc. | Q2 2023 Financial and Operating Results | August 18, 2023

  2. 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

  3. Slide 3: StealthGas Key Highlights

    1| Highlights| StealthGas Key Highlights |Fleet & Operations • Completed the sale of 4 vessels, two were delivered in June and two in July. • Contracted revenues for all subsequent periods approximately $90 million (excl. JV vessels). • Recently entered into agreements to sell 2 vessels (Eco Dream,

  4. Slide 4: Fleet Employment Analytics (As of August 2023)

    1| Highlights| Fleet Employment Analytics (As of August 2023) EARNINGS VISIBILITY Q3 2023 Q4 2023 Q1 2024 Q2 2024 Vessel Charter End Date n Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Name Type 1 Gas Exelero TC Apr 2026 2 Eco Universe TC Mar 2026 3 Eco Corsair TC Feb 2026 • 2 new period charters and

  5. Slide 5: Summary of our Two JVs

    1| Highlights| Summary of our Two JVs Small LPG JV Structure- 1 • Currently, three of the vessels operates in the spot EARNINGS VISIBILITY Q3 2023 Q4 2023 Q1 2024 Q2 2024 market in Asia and Europe. Vessel Charter End Date n Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Name Type • Two vessels remain d

  6. Slide 6: LPG Fleet Trading Profile

    1| Highlights| LPG Fleet Trading Profile EU-Med-17 vessels • StealthGas focuses on regional trade and local distribution of gas. Our Fleet trading pattern is geographically diversified and is continuously adjusted to market needs. • Our LPG fleet trading profile is a snapshot of our vessels as of Au

  7. Slide 7: Income Statement

    2| Financials| Income Statement Income Statement Q2 Q2 6M 2022 6M 2023 (Amounts in USD'000s) 2022 2023 Voyage revenues 39,275 36,673 75,146 74,735 Voyage costs (4,645) (3,534) (8,877) (7,527) Net revenues 34,630 33,138 66,270 67,208 + 1% Operating expenses (13,335) (13,371) (26,213) (27,918) Drydock

  8. Slide 8: Balance Sheet

    2|Financials | Balance Sheet Balance Sheet (Amounts in #039;000s) Q4 2022 Q2 2023 Assets • Strong Liquidity on GASS balance sheet, including restricted cash and short Cash & cash equivalents (incl restricted) 95,655 55,174 term investments of $55.2 million. Vessel held for sale 11,107 63,163 Current as

  9. Slide 9: Debt Analysis & Capital Structure

    2|Financials |Debt Analysis & Capital Structure - In the previous two years the focus was on refinancing debt, lowering margins, reducing debt amortization and extending duration. - The interest rate rises of the last year and strong profitability reshaped the focus on reducing debt levels. - During

  10. Slide 10: LPG Sector Highlights & Trends

    3|Market update| LPG Sector Highlights & Trends • Global seaborne LPG exports increased +3.5% Jan-Jun. 400 |Global LPG Production • US and Middle East driving exports with significant increases. 350 300 • LPG imports in China hit an all time high of 3.3mil tons in May. 250 MMt/y 200 • Chinese PDH pl

  11. Slide 11: LPG Sector Highlights & Trends

    3|Market update| LPG Sector Highlights & Trends • During Q2 23’ rates remained firm across all sizes. LPG pressurized trade: • West of Suez: - Spot market remained tight, period activity was fairly active. Rates |Small-Handy LPG Daily Charter Rates Evolution ($) stabilised for smaller vessels and st

  12. Slide 12: LPG Fleet evolution - Continued commitment in LPG shipping

    4|GASS- LPG Fleet evolution -Continued commitment in LPG shipping Cbm’s • Stealthgas became a pure LPG company in late 2021. • Stealthgas has been strategically diversifying its fleet selling smaller vessels and replacing them with larger modern vessels. • Four vessels were sold in 2022. Eight vesse

  13. Slide 13: 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 the key variables that will affect our performance going forward.  Time charter rates for small and Handy LPGs have been rising over th

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