Slide 1: Fourth Quarter & Twelve Months 2008 Results
Fourth Quarter & Twelve Months 2008 Results February 19, 2009
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements 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 h
Slide 3: Business Strategy
Business Strategy Business Strategy Implementation Continued Expansion Took delivery of one Handy-Size LPG vessel in November 2008 Took delivery of one Handy-Size LPG vessel in January 2009 Acquiring two new resale LPG vessels and two M.R. Product Carriers in 2009 Five new LPG vessels on ord
Slide 4: Fleet Development
Fleet Development Our track record of growth through well-timed acquisitions continues Acquisition strategy for fleet to number of 45 ships by year end 2009, 47 by 2010, and 50 by 2011 3 StealthGas Inc. © 2007
Slide 5: Fleet Employment Profile
Fleet Employment Profile 4 StealthGas Inc. © 2007
Slide 6: Fourth Quarter 2008 Financial Highlights
Fourth Quarter 2008 Financial Highlights Fourth Quarter 2008 Q4 Net income of $7.7 million, net revenues of $28.2 million, EBITDA of $15.9 million Q4 Net income of $8.0 million before net non cash expense of $0.33 million on interest rate swaps and provision for restricted-stock portion of deferred
Slide 7: Fourth Quarter 2008 Income Statement
Fourth Quarter 2008 Income Statement In US$ 000, except per 4Q07 1Q08 2Q08 3Q08 4Q08 share amounts Net Revenues $26,129 $27,014 $28,480 $28,895 $28,163 Operating Income 9,148 * 12,127 10,299 9,633 10,020 Net Income 6,226 * 7,431 9,438 5,369 7,749 Net Income, net of interest rate swap, stock based co
Slide 8: Fourth Quarter 2008 Operating Highlights
Fourth Quarter 2008 Operating Highlights Fleet Data & Daily Results Fleet Data 4Q07 1Q08 2Q08 3Q08 4Q08 FY07 FY08 Average number of vessels in fleet 37.5 37.9 38.0 38.7 39.6 32.8 38.6 Period end number of vessels in fleet 38.0 38.0 38.0 39.0 40.0 38.0 40 Total calendar days for fleet 3,453 3,451 3,4
Slide 9: Twelve Months 2008 Financial Highlights
Twelve Months 2008 Financial Highlights Twelve months 2008 Twelve months Net Income of $30.0 million, net revenues of $112.6 million, EBITDA of $61.5 million Twelve months Net Income of $31.7 million before net non cash expenses of $1.7 million on interest rate swaps, provision for restricted- stock
Slide 10: Twelve Months 2008 Income Statement
Twelve Months 2008 Income Statement In US$ 000, except per share Twelve Months Twelve Months amounts 2007 2008 Net Revenues $89,995 $112,552 Operating Income 33,178 * 42,079 Net Income 22,538 * 29,987 Net Income, net of interest rate swap & stock based compensation and gain on 26,437 31,694 sale of
Slide 11: Daily Breakeven
Daily Breakeven Q3 2008 vs Q4 2008 Daily Cashflow and Net Income Breakeven Composition ($ per vessel per day) Q3 2008 fleet calendar days: 3,557 Q4 2008 fleet calendar days: 3,647 Q3 2008 Q4 2008 Expenses Cash Flow Net Income Cash Flow Net Income Operating $2,469 * $2,469 * $2,253 * $2,253 * Managem
Slide 12: Financial Estimator
Financial Estimator ($ in millions) 45 Vessels 2009E Non Contracted Voyage Days 5,598 Daily Spot Charter Rate - 4,250 cbm vessel ? Spot Revenue ? Period Charter Revenue (T/C and Bareboat) $87.5 Total Revenue ? Operating Expenses 38.9 SG&A and Management Fees 10.0 Commissions 3.7 Maintenance CapEx 1.
Slide 13: LPGC freight rates
LPGC freight rates Average earnings in the spot market excluding waiting time / 1 yr TC rates USD million per month .8 .7 15000 SR .6 8000 ETH TCE .5 6500 SR TCE .4 3500 SR 1yr TC .3 3500 PR 1yr TC .2 west .1 INGE STEENSLAND AS .0 2002 2003 2004 2005 2006 2007 2008 2009 12 StealthGas Inc. © 2007
Slide 14: Charter Market Rate Indicator (12 Month TCs)
Charter Market Rate Indicator (12 Month TCs) Q4 2008 Average Current Q1 2009 Forecast 3,200 CBM S/R 306,154 275,000 270,000 3,500 CBM P/R 230,288 202,500 195,000 5,000 CBM P/R 298,462 260,000 240,000 6,000 CBM S/R 525,000 475,000 470,000 15,000 CBM S/R 725,000 675,000 660,000 35,000 CBM 865,385 750,
Slide 15: Fleet Development Vs. TC Rates/Earnings
3000-7999 cbm Fleet Development Vs. TC Rates/Earnings* 600 20% TC rates in USD 1000's per month (lines) Fleet growth in % (bars) 500 15% TC equiv. spot earnings 400 10% 300 5% 200 0% 100 ‐5% INGE STEENSLAND AS ‐ ‐10% 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 201
Slide 16: Contacts
Contacts Company Contact: Andrew J. Simmons Visit our Website at: Chief Financial Officer www.stealthgas.com StealthGas Inc. Weekly LPG Market Report 011-30-210-6250-001 updated every Monday E-mail: simmons@stealthgas.com www.stealthgas.com Comprehensive Investor Relations Information 15 StealthGas