Slide 1: StealthGas Inc. 3rd Quarter 2012 Results
StealthGas Inc. 3rd Quarter 2012 Results November 27th , 2012 CONSISTENCY & GREAT VALUE
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 Consolidation and fleet Took delivery of 5 Newbuilding LPG carriers (February, April & September 2011, January & June 2012) renewal Sold 4 LPG carriers in 2011 & 2 LPG carriers in 2012 Acquired 4 Newbuilding LPG carriers to be delivered in 201
Slide 4: Fleet Development
Fleet Development Newbuilding program of 12 LPG carriers completed with the 2 latest deliveries in 2012 Remaining newbuilding vessels have committed financing Selective sale of older & smaller tonnage in 2011/12 3
Slide 5: Fleet Employment Profile
Fleet Employment Profile |__ 2012 | [Wow Tee | on [Feb [War [Ape [ny San [sat Tag Sep [eT ov [ec | Jan | ree [tar [Aor | wy | tun [sr [ Aug | Sep [Oot] Row | Gas Esco Gas Husky Alp. End. (Stealth Balha) Gas Sikousis (Mindoro) Navig8 Faith Navig@ Fidelity Gas Spirit (Langwaki) Gas Elixir Spike Gas Pa
Slide 6: Financial Highlights
Financial Highlights Third Quarter 2012 Q3 Net Income of $6.6 million, net revenues of $30.4 million, EBITDA of $16.4 million. EPS of $0.32 per share on 20.6 million shares outstanding. Q3 Adjusted Net Income of $5.8 million and Adjusted EPS $0.28 per share, before net non cash loss of $0.4 million
Slide 7: 2012 Income Statement
2012 Income Statement In US$ 000, except per share Q3 2011 Q2 2012 Q3 2012 amounts Net Revenues 27,493 $29,148 $30,357 Voyage Costs 4,186 2,708 3,547 Running Costs 8,428 7,493 7,699 Operating Income 5,453 9,880 9,448 Net Income 6,201 7,186 6,634 Net Income, adjusted 2,061 6,458 5,793 EBITDA 15,109 1
Slide 8: Balance Sheet
Balance Sheet December 31, September 30, 2011 2012 Cash and Cash Equivalents incl. restricted 51,793,666 47,347,912 Current Assets excl. cash 5,106,792 5,708,360 Vessels held for sale 921,285 -- Advances for vessels under construction 22,347,811 19,200,000 Vessels, net 613,832,973 641,968,871 Other
Slide 9: 2012 Operating Highlights
2012 Operating Highlights Fleet Data & Daily Results Fleet Data Q3 2011 Q2 2012 Q3 2012 Average number of vessels in fleet 36.3 36.5 37.0 Period end number of vessels in fleet 37 37 37 Total calendar days for fleet 3,335 3,319 3,404 Total voyage days for fleet 3,247 3,288 3,388 Fleet utilization 97.
Slide 10: Financial Estimator 2012 Q4
Financial Estimator 2012 Q4 Contracted Revenues $24 million Non contracted Voyage days 546 Operating Expenses $8 million per quarter Drydock Expenses No vessel to be drydocked in Q4 Interest & Swaps (cash portion) $3.3 million D&A $7.3 million EBITDA Estimates if all the LPG vessels in the fleet wer
Slide 11: LPG Major Trades
LPG Major Trades Seaborne LPG trade up 10% in 2012 driven by demand from emerging economies: increasing consumption vs limited production capacity is offering bright prospects for the future in these countries. Low prices for LPG products lead importing nations to fill up stocks; Asian imports expec
Slide 12: LPG Major Trades
LPG Major Trades The Middle East remained the main supplier and the single largest contributor to growth in total LPG exports in 2012, with LPG supply for Middle East exports expected to increase by 12%. 2/3 of our fleet operates in the Far East, while the rest usually operates in the Middle East, t
Slide 13: Charter Market Rate Indicator (12 Month TCs)
Charter Market Rate Indicator (12 Month TCs) Q3 2011 Average Q3 2012 Average Q4 2012 Forecast 3,200 CBM S/R 275,000 267,300 265,000 3,500 CBM P/R 246,000 241,730 230,000 5,000 CBM P/R 310,000 306,920 290,000 6,000 CBM 450,000 435,000 435,000 15,000 CBM 525,000 650,000 650,000 35,000 CBM 664,000 805,
Slide 14: TC equiv. spot earnings
3000-8000 cbm Fleet Development Vs. TC Rates/Earnings* 600 10% INGE STEENSLAND AS TC rates in USD 1000's per month (lines) 500 Fleet growth in % (bars) TC equiv. spot earnings 400 5% 300 200 0% 100 Overall 3000-7999 fleet growth SR 3000-7999 fleet growth SR 6500 cbm TCE SR 3500 cbm 1yr TC PR 3500 cb
Slide 15: An overloaded orderbook in mainstream segments But not in the LPG space
An overloaded orderbook in mainstream segments But not in the LPG space 30% 25% 24% 22% 22% 20% 19% 15% 13% 12% 10% 5% 0% Offshore Drybulk LNG Container Crude Tankers LPG LPG orderbook still remains smaller than other shipping segments with a limited fleet growth of pressurized vessels for 2012 and
Slide 16: Valuations comparison
Valuations comparison Company P/NAV GASLOG (GLOG) 128.4% GOLAR LNG (GNLG) 159% SCORPIO TANKERS (STNG) 175% CAPITAL PRODUCT PARTNERS (CPLP) 202.4% TEEKAY TANKERS (TNK) 242.9% STEALTHGAS (GASS) 53.5% Shipping companies listed in the US listed operating in different sectors such as gas, tankers and dry
Slide 17: Contacts
Contacts Company Contact: Konstantinos Sistovaris 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: sistovaris@stealthgas.com www.stealthgas.com Comprehensive Investor Relations Information 18