Tsakos Energy Navigation Ltd · NYSE:TEN
Tsakos Energy Navigation — Q1 2022 Earnings Presentation
15 slides from Tsakos Energy Navigation's earnings presentation, Jun 30, 2022
Slide 1: TEN LTD Q1 2022 Earnings Presentation
TEN LTD Q1 2022 Earnings Presentation June 30, 2022
Slide 2: Forward-looking statements
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. Because these forward-looking statemen
Slide 3: Crisis-Resistant Growth Model Spanning Four Decades
Crisis-Resistant Growth Model Spanning Four Decades _______________________________________________________________ Covid Ukrainian Far East Crisis 9/11 Crisis Credit Crisis Crisis Crisis 9 8 7 6 Million (dwt) 5 4 3 2 1 0 3
Slide 4: Diversified Fleet - Secured Revenues – Market Upside – Greenship Growth
Diversified Fleet - Secured Revenues – Market Upside – Greenship Growth _______________________________________________________________ Dwt Built Yard Hull Ice Class/Other Dwt Built Yard Hull Ice Class/Other 1 Hercules 300,000 2017 South Korean DH 37 TBN 115,000 2024 South Korean DH Dual - Fuel LNG
Slide 5: Timely Acquisitions => Low Q1 2022 B/E rates
Timely Acquisitions => Low Q1 2022 B/E rates (B/E after OpEx, G&A, Interest and Depreciation) _______________________________________________________________ 2 VLCC $22,883 $100,000,000 Spot 14 SUEZMAX $24,387 19 (1) AFRAMAX $17,360 $75,000,000 AFRAMAX 3 LR2 $20,051 10 PANAMAX Time Charter LR1 $14,6
Slide 6: Reducing Bank Debt an Integral Part of Strategy
Reducing Bank Debt an Integral Part of Strategy _______________________________________________________________ $1,800 $1,753 $1,751 $1,750 -$2 $1,700 $1,650 $1,595 $1,600 In millions -$156 $1,534 $1,550 $1,500 $1,500 -$61 $1,450 -$34 $1,400 $1,373 $1,350 $1,329 -$127 $1,300 -$44 2016 2017 2018 2019
Slide 7: Healthy Dividends Through Market Cyclicality and Growth
Healthy Dividends Through Market Cyclicality and Growth _______________________________________________________________ ❑ Common Stock Dividend Continuity – Management aims on semi-annual dividend distributions ❑ TEN has always paid a dividend reflective of market irrespective of cyclicality; Half a
Slide 8: Global Oil Demand on the Rebound
Global Oil Demand on the Rebound _______________________________________________________________ BARRELS OF OIL PER CAPITA PER ANNUM (Source: BP Statistical Review of World Energy June 2021) ❑ Strong potential of China and India with a combined 25 population of 2.5 billion in a world of 7.0 billion.
Slide 9: Historical Low NB Orderbook vs. Fleet Over Years Old
Historical Low NB Orderbook vs. Fleet Over 15 Years Old _______________________________________________________________ ❑ Total NB Orderbook of 255 tankers to join the fleet over the next three years vs. 1,605 vessels over 15 years that are expected to depart the competitive fleet in the same timefr
Slide 10: Scrapping Healthy Due to Environmental Regulations and Strong Prices/Ldt
Scrapping Healthy Due to Environmental Regulations and Strong Prices/Ldt _______________________________________________________________ ❑ Upcoming regulations and discussions for alternative propulsion fuels should further propel scrapping activity ❑ In 2018 181 vessels were scrapped of 22.0m dwt ❑
Slide 11: Financial Highlights
Financial Highlights Three months ended March 31 (unaudited) STATEMENT OF OPERATIONS DATA 2022 2021 Voyage revenues $ 149,704 $ 139,013 Voyage expenses 48,202 47,298 Charter hire expense 8,615 6,118 Vessel operating expenses 43,174 41,483 Depreciation and amortization 33,349 35,052 General and admin
Slide 12: Financial Highlights (cont.)
Financial Highlights (cont.) Three months ended OTHER FINANCIAL DATA March 31 2022 2021 Net cash provided by operating activities $ 24,284 $ 12,425 Net cash used in investing activities $ (158,197) $ (19,988) Net cash provided by (used in) financing activities $ 149,682 $ (37,309) TCE per ship per d
Slide 13: STAY SAFE – STAY HEALTHY
To all our seafarers, onshore colleagues and friends a BIG THANK YOU for all your help and support during these extraordinary times STAY SAFE – STAY HEALTHY Tsakos Energy Navigation, Ltd – 367 Syngrou Av. , Athens 175 64, Greece Tel: +30210 940 7710, Fax: +30210 940 7716 email: ten@tenn.gr
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Slide 15: Tsakos Energy Navigation, Ltd
TSAKOS ENERGY NAVIGATION, LTD For more information please contact: Paul Durham: Chief Financial Officer pdurham@tenn.gr George Saroglou: Chief Operating Officer gsaroglou@tenn.gr Harrys Kosmatos: Corporate Development Officer hkosmatos@tenn.gr Tsakos Energy Navigation, Ltd 367 Syngrou Avenue Athens
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