Dynagas LNG Partners LP · NYSE:DLNG
Dynagas LNG Partners LP — Q4 2022 Earnings Presentation
13 slides from Dynagas LNG Partners LP's earnings presentation, Mar 17, 2023
Slide 1: Q4 2022 Financial Results Presentation
Q4 2022 Financial Results Presentation 17 March, 2023
Slide 2: Forward Looking Statements and Disclaimer
Forward Looking Statements and Disclaimer This presentation contains certain statements that may be deemed to be “forward-looking statements” within the meaning of applicable federal securities laws. All statements included in this presentation which are not historical or current facts (including ou
Slide 3: Forward Looking Statements and Disclaimer
Forward Looking Statements and Disclaimer borrowings and to access debt and equity markets; planned capital expenditures and availability of capital resources to fund capital expenditures; our ability to maintain long-term relationships with major LNG traders; our ability to leverage our Sponsor’s r
Slide 4: Recent Developments
Recent Developments Quarter Highlights Net Income of $11.6 million and earnings per common unit of $0.24; Adjusted Net Income(1) of $7.0 million and Adjusted Earnings(1) per common unit of $0.11; Adjusted EBITDA(1) of $23.6 million; 100% fleet utilization; On October 12, 2022 and pursuant to the des
Slide 5: Financial Performance
Financial Performance Stable Operating and Financial Performance Revenues ($m) Adjusted EBITDA ($m) Adjusted Net Income ($m) $40.0 $30.0 $10.0 $30.0 $20.0 $20.0 $10.0 $10.0 $0.0 $0.0 $0.0 q3'20 q4'20 q1'21 q2'21 q3'21 q4'21 q1'22 q2'22 q3'22 q4'22 q3'20 q4'20 q1'21 q2'21 q3'21 q4'21 q1'22 q2'22 q3'2
Slide 6: Financial Summary
Financial Summary Credit Metrics Financials Other 4.7x $131.7 million Q4 2022 Net Debt to LTM EBITDA 2023 Special Surveys FY 2022 revenues Arctic Aurora in q3 2023 45% Yenisei River in q3 2023(3) $57.3 million Q4 2022 Net Debt to Total Book Lena River in q3 2023 (3) FY 2022 operating cash flow Cap $
Slide 7: Highlights
Highlights Q4 2022 Change in Cash Balance(1) (USD thousands) $140,000 $120,000 $23,627 § After voluntary debt prepayment of $18.7m, -$2,045 -$8,129 working capital and other changes, cash balance $97,734 -$2,075 $100,000 for the quarter decreased by $17.9m to $80m. $4,329 $79,868 $80,000 -$30,682 -$
Slide 8: Fleet Profile
Fleet Profile Fleet n 6 LNG carriers n 914,100 cbm (149,700 cbm for steam turbine LNG fleet, 155,000 cbm for the tri-fuel diesel Total cbm capacity engine LNG fleet (TFDE’s)) Fleet average age n ~12.6 years(1) Average remaining charter n ~6.4 years(1)(2) duration n Equinor (Norway), SEFE Marketing &
Slide 9: Fleet Employment Overview
Fleet Employment Overview Size Charterer 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 Clean (1) 150,000 Energy (1) Ob River 150,000 (1) Amur River 150,000 Yenisei (2) 155,000 5yr 5yr 5yr River (2) Lena Riv
Slide 10: Partnership Highlights
Partnership Highlights Current Status Strategic Objectives Since September 2019: Strengthen § Repaid $175m in debt(1) Long-term, high-quality contracts with major § Decreased Net Leverage from 6.6x to 4.7x(2) LNG companies Balance Sheet § Organically increased book equity value by 35% to $423.9m (2)
Slide 11: Appendix
= ae} = 7) 2. 2. <x
Slide 12: Reconciliation of Net Income to adjusted Net Income and Adjusted Earnings per Common Unit
Reconciliation of Net Income to adjusted Net Income and Adjusted Earnings per Common Unit Three Months Ended December 31, Year Ended December 31, (In thousands of U.S. dollars except for units and per unit data) 2022 2021 2022 2021 Net Income $ 11,618 $ 16,941 $ 54,010 $ 53,260 Amortization of defer
Slide 13: Reconciliation of Net income to Adjusted EBITDA
Reconciliation of Net income to Adjusted EBITDA Three Months Ended December 31, Year Ended December 31, 1 (In thousands of U.S. dollars) 2022 2021 2022 2021 Net income $ 11,618 $ 16,941 $ 54,010 $ 53,260 Net interest and finance costs (1) 8,603 5,315 27,082 21,420 Depreciation 8,040 7,993 31,806 31,