Tsakos Energy Navigation Ltd · NYSE:TEN
Tsakos Energy Navigation — Q1 2008 Earnings Presentation
14 slides from Tsakos Energy Navigation's earnings presentation, 2008
Slide 1: Q1 2008 Earnings Conference Call Supplemental Information
TEN Ltd ~ ‘Tsakos Energy Navigation ——— VEY AE 2003 TNP : LISTED Q7 2008 Earnings Conrerence Call, NYSE. Supplemental ntormation
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: Total Fleet
TOTAL FLEET (incl. vessels under construction) Ships: 50 Dwt: 5,338,897 Double Hull: 100% Average Age (existing): 5.5 years Average Age of World Fleet: 10.6 years Ice-class vessels: 23 Ice-class dwt: 2,010,579 CRUDE FLEET CLEAN / PRODUCT FLEET Ships: 25 Ships: 25 Dwt: 3,797,006 Dwt: 1,541,891 Ice-cl
Slide 4: Sale & Leaseback fleet list
4 * Sale & Leaseback (1) 51% ownership
Slide 5: Global offices and vessels still to join the fleet
London Odessa New York ATHENS HQ Ulsan Houston Shanghai Manila Montevideo Still to join the fleet (2008-2010) Product Crude 5
Slide 6: Balanced Fleet Employment
Balanced Fleet Employment WTC Market Related OSpot W@CoAWSpot OCoAWMin-Max W#TCWFixedRate Bareboat
Slide 7: Days fixed and secured revenues
(Based on employable days remaining) 2008 % Days fixed Revenues 88% $263m 2009 % Days fixed Revenues 66% $260m 39 vessels with period employment (profit-share vessels only at min. rates) have secured: 858 months forward coverage (1.8 years per ship) ● $616 million in min. revenues 7
Slide 8: Newbuilding delivery schedule 2007-2010
2007 2008 2009 2010 1 Neo Energy 1 Selecao 1 Ise Princess 1 Uraga Princess 2 Arctic 2 Socrates 2 Asahi Princess 3 Antarctic 3 Maria Princess Sapporo 3 Princess 4 Izumo Princess 4 Nikkon Princess 5 Sakoura Princess Declared Repurchase Options 6 Andromeda Cape Baker 7 Aegeas Cape Balboa Delivered LNG
Slide 9: Financial highlights Q1 2008 vs Q1 2007
2002 2003 2004 2005 2006 2007 Q1 2008 Q1 2007 Av. Number of Vessels 18.0 25.7 27.3 26.1 33.8 41.7 43.1 37.7 Total Revenues $130 $241 $318 $296 $428 $501 $137 $115 TCE Revenues, net (2) $105 $193 $276 $260 $359 $429 $120 $101 Net Income $3.9 $59.1 $143.3 $161.8 $196.4 $183.2 $65.1 $43.5 Capital Gains
Slide 10: Balance sheet summary
2005 2006 2007 Q1 2008 Cash & Cash equivalents $145,769 $174,567 $181,447 $292,102 Total Current Assets (incl. cash) $191,734 $222,493 $276,053 $347,731 Advances for vessels under construction $150,428 $261,242 $169,739 $79,268 Vessels’ net book value $711,362 $1,458,647 $1,900,183 $1,997,637 Total
Slide 11: Dividend Payments and Share Buyback
Dividend Payments (split adjusted) 2002 2003 2004 2005 2006 2007 Installment 1 $0.25 $0.25 $0.35 $0.50 $0.63 $0.83 Installment 2 $0.10 $0.25 $0.48 $0.55 $0.75 $0.90 TOTAL: $0.35 $0.50 $0.83 $1.05 $1.37 $1.73 Share Buyback 11
Slide 12: Vessel photos
M/T Cape Baker M/T Alaska M/T Maya M/T Inca 12
Slide 13: Annual General Meeting
Annual General Meeting Athens, Greece June 4th, 2008 3.30pm For further information please contact George Saroglou or Harrys Kosmatos at +30210 94 07 710
Slide 14: For more information please contact
For more information please contact: ●Paul Durham: pdurham@tenn.gr Chief Financial Officer ●George Saroglou: gsaroglou@tenn.gr Chief Operating Officer ●Harrys Kosmatos: hkosmatos@tenn.gr Senior Manager Corporate Development Tsakos Energy Navigation, Ltd 367 Syngrou Avenue Athens 175 64 Greece Tel: +
Tsakos Energy Navigation — Q1 2008 Earnings Presentation on 6ix