Slide 1: StealthGas Inc. – Energy Drives Success
StealthGas Inc. Energy Drives Success LISTED ON NASDAQ, UNDER TICKER “GASS” Page 1 StealthGas Inc. © 2006
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: Research for this presentation was provided by
Research for this presentation was provided by: LORENTZEN & STEMOCO AS Page 3 StealthGas Inc. © 2006
Slide 4: StealthGas Inc
StealthGas Inc STEALTHGAS is No.1 in GAS You might not have heard of us, we've only been operating since the end of 2004. But in that time, we've gone from nothing to being the biggest fleet of handysize liquified petroleum carries in the world-not bad for a two year old!!! With 28 vessels ranging f
Slide 5: The Outlook for LPG
The Outlook for LPG International seaborne LPG trade is 50 mill tons, will increase to over 70 mill tons in 2009 Volatile and unreliable feedstock from Saudi Arabia will be replaced by more reliable LNG derived cargo volumes Increased export from Middle East and WAfrica Increased demand from US, Ind
Slide 6: Increased LPG Supplies => Higher Freight Rates
Increased LPG Supplies => Higher Freight Rates Expanding LPG supplies are driven by increased LNG production and crude oil refining LNG Production CAGR = 12% 14 12 Trillion Cubic Feet 10 8 6 4 2 0 2004 2005E 2006E 2007E 2008E 2009E 2010E LNG Production LPG supplies are expected to increase by 50% fr
Slide 7: Increased trade of LPG
Increased trade of LPG LPG trade employment LPG Yearly grow th rate (right axis) 16 16 % 15 14 % 14 12 % 13 10 % 12 11 8% CbmM 10 6% 9 4% 8 2% 7 0% 6 5 -2 % 4 -4 % 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 • CBM miles increase from 7,4 m to 11,2 m from 2005 to 2010 • Tons carr
Slide 8: LPG Export Volumes
LPG Export Volumes Major Estimated Total LPG Export Volumes (Million MT) 2002-2010 Country MT 2002 2003 2004 2005 2006 2007 2008 2009 2010 Total Middle East (Base Case) 18,56 21,92 25,97 26,50 27,53 30,54 34,53 39,30 41,96 Total Middle East (High Case) 18,56 21,92 25,97 26,50 27,53 30,54 35,03 40,30
Slide 9: LPG Macro Consumption Trends
LPG Macro Consumption Trends Increasing Urbanization and Rising Living Standards --> Rapid increase in consumption Japanese LPG consumption steady post-rapid development Average 22 years rapid growth, China should realize another decade China Urbanization: 20 Million/p.a., India: Further growth pote
Slide 10: StealthGas – Fleet list – Average Age
StealthGas – Fleet list – Average Age, excluding n/b’s 10.5 Years – Industry Average 16 Years Pressured vessels Gas Cathar 2001 7500 cbm Gas Chios 1991 6500 cbm Gas Amazon 1992 6500 cbm Gas Marathon 1995 6500 cbm Gas Monarch 1997 5000 cbm Gas Emperor 1994 5000 cbm Birgit Kosan 1994 5000 cbm Catteric
Slide 11: StealthGas – Fleet list - continued
StealthGas – Fleet list - continued Pressurized vessels-contd. Gas Prophet 1996 3500 cbm Gas Shanghai 1999 3500 cbm Gas Fortune 1995 3500 cbm Gas Czar 1995 3500 cbm Gas Prodigy 1995 3000 cbm Gas Oracle 1990 3000 cbm Semi Refridgerated Gas Courchevel 1991 4000 cbm Gas Ice 1991 3400 cbm Gas Arctic 199
Slide 12: Small LPG – Fleet Growth Profile
Small LPG – Fleet Growth Profile Stealthgas focuses on the Small LPG Segment Small LPG Segment (3000-8000 cbm) has balanced outlook with average fleet growth ahead 600 16% Earnings/TC rates in USD 1000's /month (lines) 14% 500 12% Fleet growth in % (bars) 10% 400 8% 300 6% 4% 200 2% 0% 100 -2% - -4%
Slide 13: Business Strategy – Since IPO (Oct 05) to Present Day
Business Strategy – Since IPO (Oct 05) to Present Day Business Strategy Implementation Triple Fleet by mid-2006 • Doubled Fleet by end of Q1 06 • Tripled fleet (27 vessels) by end of Q2 06 • Currently owns 28 vessels Moderate Leverage • Q2 2006 net debt to capitalization: 45.6% Visible Revenue Strea
Slide 14: Fleet Development
Fleet Development Grew fleet to 21 vessels by end of 2005 Fleet currently numbers 28 vessels StealthGas ranks #1 in owned vessels in 3,000 to 8,000 CBM segment 28 IPO 24 20 16 27 28 Established 12 24 Oct. 2004 21 8 4 9 9 5 4 0 Q4 2004 Q1 2005 Q2 2005 Q3 2005 Q4 2005 Q1 2006 Q2 2006 Q3 2006 Fleet Pag
Slide 15: Fleet Employment Profile
Fleet Employment Profile Page 15 StealthGas Inc. © 2006
Slide 16: 2nd Quarter & 6 Months 2006 Financial Highlights
2nd Quarter & 6 Months 2006 Financial Highlights 2nd Quarter 2006 ¾ Q2 Net income of $4.6 million, revenues of $17.2 million, EBITDA of $8.9 million ¾ EPS of $0.33 on 14 million shares outstanding – dividend declaration of $ 0.1875 per share ¾ Cash balance of $10.0 million ¾ Conservative leverage: n
Slide 17: 2nd Quarter & 6 Months 2006 Income Statement
2nd Quarter & 6 Months 2006 Income Statement In US$ 000, except Q4 2005 Q1 2006 Q2 2006 6M 2006 per share amounts Net Revenues $12,810 $16,938 $ 17, 215 $34,153 Operating Income 5,111 7,500 5,542 13,042 Net Income 4,536 6,959 4,621 11,580 EBITDA 7,181 10,160 8,869 19,029 EPS 0.33 0.50 0.33 0.83 Numb
Slide 18: 2nd Quarter & 6M 2006 Operating Highlights – Fleet Data & Daily Results
2nd Quarter & 6M 2006 Operating Highlights – Fleet Data & Daily Results Fleet Data Q4 2005 Q1 2006 Q2 2006 6M 2006 Average number of vessels in fleet 15.1 22.4 25.1 23.8 Period end number of vessels in fleet 21.0 24.0 28.0 28.0 Total calendar days for fleet 1,387 2,019 2,280 4,299 Total voyage days
Slide 19: Daily Breakeven
Daily Breakeven Q2 2006 vs Q1 2006 Daily Cashflow and Net Income Breakeven Composition ($ per vessel per day) Q1 2006 fleet calendar days: 2,019 Q2 2006 fleet calendar days: 2,280 Q1 2006 Q2 2006 Expenses Cash Flow Net Income Cash Flow Net Income Operating $2,148 $2,148 $2,074 $2,074 General & Admin
Slide 20: Why Should You Invest in StealthGas Inc.?
WHY SHOULD YOU INVEST IN STEALTHGAS INC.? ¾ Company has 10% market shares in its sector ¾ Outlook for production and consumption for LPG positive over the medium term ¾ Company has a young and modern fleet compared to industry average ¾ Company has grown rapidly, but still has moderate leverage, and
Slide 21: Contacts
Contacts Company Contact: Andrew J. Simmons Visit our Website at: Chief Financial Officer www.stealthgas.com StealthGas Inc. 011-30-210-6250-001 Weekly LPG Market Report E-mail: simmons@stealthgas.com updated every Monday www.stealthgas.com Comprehensive Investor Relations Information Investor Relat