Global Ship Lease Inc New · NYSE:GSL
Global Ship Lease Inc New — Global Ship Lease — Q3 2008 Earnings Presentation
14 slides from Global Ship Lease Inc New's earnings presentation, 2008
Slide 1: Third Quarter 2008 Presentation
Third Quarter 2008 Presentation 0
Slide 2: Safe Harbor Statement
Safe Harbor Statement This communication contains forward-looking statements. Forward-looking statements provide Global Ship Lease’s current expectations or forecasts of future events. Forward-looking statements include statements about Global Ship Lease’s expectations, beliefs, plans, objectives, i
Slide 3: Disclaimer
Disclaimer The financial information and data contained in this communication is unaudited and does not conform to the U.S. Securities and Exchange Commission Regulation S-X. Accordingly, such information and data may not be included in, may be adjusted in or may be presented differently in, Global
Slide 4: Global Ship Lease: 3Q08 Highlights
Global Ship Lease: 3Q08 Highlights Listed on the New York Stock Exchange on August 15, 2008 Paid a starting dividend of $0.23 per share on October 14, 2008 to all Class A common shareholders and unit holders of record as of October 2, 2008 Acquired two 4,250 TEU containership newbuildings, with seve
Slide 5: About Global Ship Lease
About Global Ship Lease Our Strategic Focus To be a preferred provider of chartered containerships to top tier liner companies To capitalize on industry’s strong long term growth potential Our Value Proposition For Liner Companies For Investors Cost-effective means to free up capital and $1.8 billio
Slide 6: Industry Overview
Industry Overview Increasing Trend Towards Outsourcing Industry Dynamics 60% Chartered-in vessels approx. 52% of the top 10 liners 52% 50% 49% capacity and is increasing (compared to ~15% in 1994) 50% 47% 45% 42% 43% Containership charter owners’ value proposition is both pro- 40% 37% and counter-cy
Slide 7: Fleet and Charter Portfolio
Fleet and Charter Portfolio 4,133 TEU 4,133 2,272 2,272 2,262 2,262 2,207 2,207 2,207 2,207 5,100 5,100 4,298 4,045 4,045 10,960 6,627 6
Slide 8: Considerable Financial Strength
Considerable Financial Strength Purchase of initial and contracted fleet of 19 vessels fully funded Immediately available funds for the acquisition of additional vessels Credit facility Warrant proceeds by August, 2010 Credit facility $800 million revolver $176 million undrawn (proforma) before Warr
Slide 9: 3Q08 Financials
te eae 3Q08 Financials EER co 4 GLOBAL SHIP LEASE
Slide 10: Third Quarter Financial Results
Third Quarter Financial Results $ in thousands Three month period ended Nine month period ended September 30, 2008 September 30, 2008 Operating revenues 23,912 68,673 Operating expenses Voyage expenses - - Vessel operating expenses 7,888 21,873 Depreciation 5,178 14,750 General and administrative 1,
Slide 11: Balance Sheet
Balance Sheet As of Sept. ($ in thousands) 30, 2008 Assets Cash and cash equivalents $29,584 Prepaid expenses and other receivables 5,115 Deferred financing costs 547 Total current assets 35,246 Vessels in operation 520,459 Vessel deposits 115,079 Other fixed assets 24 Intangible assets - purchase a
Slide 12: Cash Available For Distribution
Cash Available For Distribution Three Months Ended Sept. 30 ($ in thousands) 2008 Net loss (43) Add: Depreciation 5,559 Charge for equity incentive awards 687 Amortization of deferred financing fees 137 Change in value of derivatives 6,436 Less: Allowance for future dry-docks (700) Revenue accretion
Slide 13: Distributions Per Share
Distributions Per Share Paid a starting dividend of $0.23 per share on October 14, 2008 to all Class A common shareholders and Period Declared Dividend unit holders of record as of October Starting Dividend $0.23 2, 2008 Declared a third quarter dividend of Q3 2008 $0.23 $0.23 per share to be paid o
Slide 14: Global Ship Lease
Le GLOBAL SHIP LEASE