Stealthgas, Inc. · NASDAQ:GASS
Stealthgas — Q3 2021 Earnings Presentation
13 slides from Stealthgas's earnings presentation, Dec 8, 2021
Slide 1: StealthGas Inc. Q3 2021 Financial and Operating Results
SteatlhGas Inc. | Q3 2021 Financial and Operating Results | December 8, 2021
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
Slide 3: StealthGas Key Highlights
1| Highlights| StealthGas Key Highlights |Strategic • Successful spin- off of our four tankers to a new listed entity called Imperial Petroleum Inc. • This spin-off allows the creation of two businesses in distinct sectors of the shipping industry, LPG carriers and tankers. |Fleet & Operations • Fle
Slide 4: Tanker Spin-Off Summary
1| Highlights| Tanker Spin- Off Summary |Financial Impact on GASS The spin- off of the four tankers will impact GASS financials as follows: ✓ Reduction of quarterly opex by about $2.5 million (c. $10 million p.a.) ✓ Drop in quarterly depreciation charges by $2.2 million ($ c. $9 million p.a.) ✓ Almo
Slide 5: Fleet Employment Analytics (As of December 2021)
1| Highlights| Fleet Employment Analytics (As of December 2021) 2021 EARNINGS VISIBILITY Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Vessel Charter End Date Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Name Type Rate 1 Eco Elysium TC June 2024 2 Gas Alice TC Aug 2023 3 Gas Myth TC Jan 2023 • 9 ne
Slide 6: Summary of our Two JVs
1| Highlights| Summary of our Two JVs Small LPG JV Structure- 1 • Currently all vessels are on time charter contracts. 2021 • Since our last announcement, we concluded the EARNINGS VISIBILITY Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 below: Vessel Charter End Date Dec Jan Feb Mar Apr May Jun Jul Aug S
Slide 7: LPG Fleet Trading Profile
Rest France Spain 1| Highlights| LPG Fleet Trading Profile UK EU-18 vessels Norway Netherlands Portugal • StealthGas focuses on regional trade and local distribution of gas. • Fleet trading pattern is geographically diversified and is continuously adjusted to market needs. • Our LPG fleet (incl. sem
Slide 8: Income Statement Q3 20 vs Q3 21
2| Financials| Income Statement Q3 20 vs Q3 21 Income Statement Q3 Q3 9M 9M Comparing Q3 2020 to Q3 2021 (Amounts in USD'000s) 2020 2021 2020 2021 - Revenues came in at $37.5 million in Q3 21’ marking an increase of $0.4 Voyage revenues 37,080 37,486 107,709 114,151 million (1.1%) compared to the sa
Slide 9: Performance Highlights & Analysis
2|Financials |Performance Highlights & Analysis |Performance Highlights • Operational utilization of about 94.1% compared to Fleet Data Q3 2020 Q3 2021 9M 2020 9M 2021 96.0% in Q2 20’, as technical off hire and commercial Period end number of owned vessels in fleet 43 41 43 41 Total calendar days fo
Slide 10: Balance Sheet 9M 2021
2|Financials | Balance Sheet 9M 2021 Balance Sheet (Amounts in $'000s) 12M 2020 9M 2021 Assets Cash & cash equivalents 38,242 43,077 • Liquidity on GASS balance sheet, including restricted cash, is c. $57.3 million. Current assets excl. cash 9,811 23,182 Advances for vessels 6,539 Vessel, net 832,33
Slide 11: LPG Sector Highlights & Trends
3|Market update| LPG Sector Highlights & Trends • During Q3 21’and in spite of the customary seasonal softness, rates improved- mostly from September onwards. Focusing on LPG trade: |Small LPG Daily Charter Rates Evolution ($) • West of Suez: - The spot market experienced the usual seasonal downturn
Slide 12: Share Performance of GASS
4|Share Performance of GASS Average per month Volume in mm Share Price $ 3.5 9 Q4 20 Results Q1 21 Results 8 Q2 21 Results 3 Spin off Announcement 7 2.5 6 2 5 4 1.5 3 1 2 0.5 1 0 0 1/4/2021 2/1/2021 2/8/2021 3/1/2021 3/8/2021 4/5/2021 5/3/2021 6/7/2021 7/5/2021 8/2/2021 8/9/2021 9/6/2021 1/25/2021 2
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 key variables that will affect our performance going forward. |GASS Financial & Market Forecast Considerations ❖ Significant operating l