Stealthgas, Inc. · NASDAQ:GASS

Stealthgas — Q3 2023 Earnings Presentation

13 slides from Stealthgas's earnings presentation, Nov 21, 2023

  1. Slide 1: StealthGas Inc. Q3 2023 Financial and Operating Results

    StealthGas Inc. | Q3 2023 Financial and Operating Results | November 21, 2023

  2. 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

  3. Slide 3: StealthGas Key Highlights

    1| Highlights| StealthGas Key Highlights |Fleet & Operations • Completed the sale of two vessels in July. Expect to complete the previously announced sale of Eco Green-Eco Dream in Q1 24’. • Our joint venture took delivery of the nb MGC Eco Sorcerer in October 2023. • Expected delivery of two nb MGC

  4. Slide 4: Fleet Employment Analytics (As of November 2023)

    1| Highlights| Fleet Employment Analytics (As of November 2023) EARNINGS VISIBILITY Q1 2024 Q2 2024 Q3 2024 Q4 2024 Vessel Charter End Date Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Name Type 1 Eco Ice TC Sep 2027 2 Eco Freeze TC May 2027 3 Gas Myth TC Jan 2027 4 Gas Exelero TC Apr 202

  5. Slide 5: Summary of our Two JVs

    1| Highlights| Summary of our Two JVs Small LPG JV Structure- 1 • Currently, two vessels operate in the spot market in Asia and Europe. Q1 2024 Q2 2024 Q3 2024 Q4 2024 Vessel Charter End Date Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Name Type • One vessel will drydock in 2024. One ves

  6. Slide 6: LPG Fleet Trading Profile

    1| Highlights| LPG Fleet Trading Profile EU-Med-19 vessels • StealthGas focuses on regional trade and local distribution of gas. Our Fleet trading pattern is geographically diversified and is continuously adjusted to market needs. • Our LPG fleet trading profile is a snapshot of our vessels as of No

  7. Slide 7: Income Statement

    2| Financials| Income Statement Income Statement Q3 Q3 (Amounts in USD'000s) 9M 2022 9M 2023 2022 2023 Voyage revenues 34,885 34,654 110,032 109,389 Voyage costs (6,773) (2,378) (15,650) (9,904) +15% Q Net revenues 28,112 32,276 94,382 99,484 +5% 9M Operating expenses (14,122) (12,302) (40,335) (40,

  8. Slide 8: Balance Sheet

    2|Financials | Balance Sheet Balance Sheet (Amounts in #039;000s) Q4 2022 Q3 2023 Assets • Strong Liquidity on GASS balance sheet, including restricted cash and short Cash & cash equivalents (incl restricted) 95,655 79,800 term investments of $79.8 million. Vessel held for sale 11,107 34,880 Current as

  9. Slide 9: Debt Analysis & Capital Structure

    2|Financials |Debt Analysis & Capital Structure - In the previous two years the focus was on refinancing debt, lowering margins, reducing debt amortization and extending duration. - The interest rate rises of the last year and strong profitability reshaped the focus on reducing debt levels. - Since

  10. Slide 10: LPG Sector Highlights & Trends

    3|Market update| LPG Sector Highlights & Trends • Global seaborne LPG exports increased +3.1% Jan-Sep. 400 |Global LPG Production • New high’s for US LPG exports +13% y-o-y. Middle East exports stall. 350 300 • Weak petrochemical demand in Europe. Strong demand from India and 250 China. MMt/y 200 •

  11. Slide 11: LPG Sector Highlights & Trends

    3|Market update| LPG Sector Highlights & Trends • During Q3 23’ rates remained steady across all sizes. LPG pressurized trade: • West of Suez: - Spot market activity was soft, rates moving upwards again. |Small-Handy LPG Daily Charter Rates Evolution ($) • East of Suez: -Spot market activity poor fo

  12. Slide 12: LPG Fleet evolution - Continued commitment in LPG shipping

    4|GASS- LPG Fleet evolution -Continued commitment in LPG shipping Cbm’s • Stealthgas became a pure LPG company in late 2021. • Stealthgas has been strategically diversifying its fleet selling smaller vessels and replacing them with larger modern vessels. • Ten vessels were sold (incl. 1 JV), eight d

  13. 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 the key variables that will affect our performance going forward. ❖ Time charter rates for small and Handy LPGs have been rising over th

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