Awilco Lng Asa · OSL:ALNG
Awilco Lng Asa — Q1 2024 Earnings Presentation
19 slides from Awilco Lng Asa's earnings presentation, May 23, 2024
Slide 1: First quarter 2024
First quarter 2024 May 23, 2024 www.awilcolng.no -1-
Slide 2: Disclaimer
Disclaimer This presentation may include certain forward-looking statements, forecasts, estimates, predictions, influences and projections regarding the intent, opinion, belief, various assumptions or current expectations of Awilco LNG (the “Company”) and it’s management with respect to, among other
Slide 3: Company overview
Company overview Awilco LNG is a fully integrated pure play LNG transportation provider, owning and operating LNG carriers. The Company currently own and operates two 2013-built 156,000 cbm TFDE LNG carriers, WilPride and WilForce, trading in the medium-term market. Awilco LNG is listed on Euronext
Slide 4: Agenda May 23, 2024
Agenda May 23, 2024 1. Highlights 2. Financials first quarter 2024 3. Market update 4. Summary www.awilcolng.no -4-
Slide 5: Highlights
Highlights Awilco LNG achieved a net result of USD 7.2 million and earnings per share of USD 0.05 in the first quarter 2024, down from a net result of USD 14.9 million and USD 0.11 per share in the fourth quarter 2023 which was positively impacted by a USD 5 million one-off insurance settlement.
Slide 6: Agenda May 23, 2024
Agenda May 23, 2024 1. Highlights 2. Financials first quarter 2024 3. Market update 4. Summary www.awilcolng.no -6-
Slide 7: First quarter 2024 income statement
First quarter 2024 income statement USD million Q1’24 Q4’23 Q1’23 2023 Freight income 22.1 22.4 20.7 80.7 Voyage related expenses (0.2) (0.2) (0.2) (1.3) Net freight income 21.9 22.2 20.5 79.4 Other income 0.0 5.0 0.0 5.0 Operating expenses (3.5) (3.1) (3.0) (11.3) Administration expenses (0.9) (1.3
Slide 8: First quarter 2024 financial position
First quarter 2024 financial position USD million 31.12.23 31.12.23 31.03.23 Vessels 313.8 317.3 315.3 Other fixed assets 0.5 0.5 0.5 Total non-current assets 314.3 317.8 315.8 Trade receivables 0.0 2.8 3.7 Other short term assets 1.3 2.2 0.5 Cash and cash equivalents 38.3 27.1 28.0 Total current as
Slide 9: First quarter 2024 cash flow
First quarter 2024 cash flow USD million Q1’24 Q4’23 Q1’ 23 2023 Cash Flows from Operating Activities: Profit/(loss) before taxes 7.2 14.9 9.0 38.3 Income taxes paid - - - - Interest and borrowing costs expensed 6.8 4.8 4.6 18.8 Depreciation, amortisation and impairment 3.9 3.4 3.2 12.9 Trade receiv
Slide 10: Agenda May 23, 2024
Agenda May 23, 2024 1. Highlights 2. Financials first quarter 2024 3. Market update 4. Summary www.awilcolng.no - 10 -
Slide 11: Spot rates
Spot rates USD/DAY 350,000 300,000 250,000 200,000 150,000 100,000 50,000 - WW spot rate ST WW spot rate TFDE Historic ave. spot rate ST Historic ave. spot rate TFDE • Following a slow “shoulder season” the market is showing signs of improvement as China and other importers in the Far East are incre
Slide 12: LNG export and import
LNG export and import Q1 2024 vs Q1 2023 (YoY change) Russia North America and Caribbean Africa Middle East and Gulf South America Europe Asia -6 -4 -2 0 2 4 6 Import (in MT) Export (in MT) • European import decreased year over year due to mild winter and high storage level • Increased Asian import,
Slide 13: Gas prices
Gas prices USD/MMBTU 100 90 80 70 60 50 40 30 20 10 0 01/2020 04/2020 07/2020 10/2020 01/2021 04/2021 07/2021 10/2021 01/2022 04/2022 07/2022 10/2022 01/2023 04/2023 07/2023 10/2023 01/2024 04/2024 07/2024 10/2024 01/2025 04/2025 US (HH) Asia (JKM) Europe (TTF) • Volatility in gas prices back “to no
Slide 14: Trainspotting – new LNG production
16 Trainspotting – new LNG production 700 14 MTPA LNG PROJECTS 650 MTPA 12 600 10 550 8 500 6 450 4 2 400 0 350 2024 2025 2026 2027 2028 2029 2030 Total capasity (RHS) • ~ 295 MTPA new capacity currently under construction or in advanced planning • of this ~90 MTPA are at potential risk should the U
Slide 15: LNG fleet and orderbook
LNG fleet and orderbook NO. VESSELS TOTAL FLEET 1200 100 1000 80 800 60 600 40 400 20 200 0 0 Fixed (LHS) Available (LHS) Delivered (LHS) Total fleet (RHS) • Orderbook for LNGC now stands at 359 of which about 7% are unfixed • Ordering activity is relatively subdued except for the massive Qatar prog
Slide 16: Agenda May 23, 2024
Agenda May 23, 2024 1. Highlights 2. Financials first quarter 2024 3. Market update 4. Summary www.awilcolng.no - 16 -
Slide 17: Summary
Summary The Company report a profit for the quarter of USD 7.2 million Previously announced signed refinancing of both vessels will reduce cost and cash break even with approximately USD 10,000 pd per vessel from third quarter 2024 Closing planned mid June Secured employment until third quar
Slide 18: A Fully Integrated Pure Play LNG Transportation Provider
A Fully Integrated Pure Play LNG Transportation Provider Two 2013 built TFDEs Tier 1 customers Solid owners Experienced Opportunistic strategy management team www.awilcolng.no - 18 -
Slide 19: Contact details
Jon Skule Storheill CEO Mobile: +47 913 44 356 E-mail: jss@awilcolng.no Per Heiberg CFO Mobile: +47 952 20 264 E-mail: pheiberg@awilcolng.no www.awilcolng.no - 19 -