Tsakos Energy Navigation Ltd · NYSE:TEN
Tsakos Energy Navigation — Q3 2008 Earnings Presentation
12 slides from Tsakos Energy Navigation's earnings presentation, Nov 10, 2008
Slide 1: Tsakos Energy Navigation Q3 2008 Earnings Conference Call
* ‘Tsakos Energy Navigation = NK Novemnbers 10,2008) TNP 4 i <& Me i SOs 2008 Earnings, Conicrence call) NYSE. bate) We Ve
Slide 2: Forward-looking statements
TEN 15 years in the Public Markets This presentation may contain forward-looking statements that are not based on historical fact, including without limitation, statements containing the words “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions. Bec
Slide 3: Fleet Details (as of November 10, 2008)
TEN Fleet Details (as of November 10, 2008) 15 years in the Public Markets TOTAL FLEET (incl. vessels under construction) Ships: 50 Dwt: 5,341,124 Double Hull: 100% Average Age (existing): 6.1 years Average Age of World Fleet: 10.3 years Ice-class vessels: 23 Ice-class dwt: 2,010,837 CRUDE FLEET CLE
Slide 4: Fleet Composition
TEN Fleet Composition 15 years in the Public Markets 4 * Sale & Leaseback (1) 51% ownership
Slide 5: Blue Chip & Repeat Clients
TEN Blue Chip & Repeat Clients 15 years in the Public Markets
Slide 6: Balanced Fleet Employment & Diversified Income Stream
TEN Balanced Fleet Employment & Diversified 15 years in the Income Stream Public Markets 6
Slide 7: Secured Revenues
TEN Secured Revenues 15 years in the Based on employable dates – subject to change based on new deliveries Public Markets and potential changes to in chartering policy 2009 2010 (so far) Minimum Revenues Minimum Revenues (guaranteed) (guaranteed) $290m $140m 39 vessels with period employment (profit
Slide 8: Timely Newbuilding Program
TEN Timely Newbuilding Program 15 years in the Taking Advantage of Market Downturns… Public Markets Asian Sub- 9/11 Crisis Prime Total 10 vessels 6 vessels 6 vessels 19 vessels 10 vessels 1 vessel 1 vessel 8
Slide 9: Financial Highlights
TEN Financial Highlights 15 years in the Public Markets Expressed in million US dollars 2003 2004 2005 2006 2007 Q3 2008 9mo 2008 Av. Number of Vessels 25.7 27.3 26.1 33.8 41.7 44 43.7 Total Revenues $241 $318 $296 $428 $501 $159 $467 TCE Revenues, net (2) $193 $276 $260 $359 $429 $130 $404 Net Inco
Slide 10: Financial Highlights (cont.)
TEN Financial Highlights (cont.) 15 years in the Public Markets Sep.30 Expressed in thousands US dollars 2005 2006 2007 2008 Cash & Cash equivalents $145,769 $174,567 $181,447 $368,328 Total Current Assets (incl. cash) $191,734 $222,493 $276,053 $436,334 Advances for vessels under construction $150,
Slide 11: Financial Highlights (cont.) - Dividend Payments and Share Buyback
TEN Financial Highlights (cont.) 15 years in the Public Markets Dividend Payments (split adjusted) 2002 2003 2004 2005 2006 2007 2008 Installment 1 $0.25 $0.25 $0.35 $0.50 $0.63 $0.83 $0.90 Installment 2 $0.10 $0.25 $0.48 $0.55 $0.75 $0.90 n/a TOTAL: $0.35 $0.50 $0.83 $1.05 $1.37 $1.73 n/a Share Buy
Slide 12: For more information please contact
For more information please contact: ●Paul Durham: pdurham@tenn.gr Chief Financial Officer ●George Saroglou: gsaroglou@tenn.gr Chief Operating Officer ●Harrys Kosmatos: hkosmatos@tenn.gr Senior Manager Corporate Development Tsakos Energy Navigation, Ltd 367 Syngrou Avenue Athens 175 64 Greece Tel: +
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