Stealthgas, Inc. · NASDAQ:GASS
Stealthgas — Q2 2021 Earnings Presentation
14 slides from Stealthgas's earnings presentation, Aug 25, 2021
Slide 1: Q2 2021 Financial and Operating Results
SteatlhGas Inc. | Q2 2021 Financial and Operating Results | August 25, 2021
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
Slide 3: StealthGas Key Highlights
1| Highlights| StealthGas Key Highlights |Fleet & Operations • Fleet utilization of 98.4%- with 50 days of technical off hire mainly as a result of three drydockings completed within Q2 2021. • Operational utilization of 96.3%, a stronger performance compared to the first quarter of 2021, mainly due
Slide 4: Fleet Employment Analytics (As of August 2021)
1| Highlights| Fleet Employment Analytics (As of August 2021) 2021 EARNINGS VISIBILITY Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 20220 Vessel Charter End Date Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Name Type Rate 1 Eco Elysium TC June 2024 2 Gas Alice TC Aug 2023 3 Gas
Slide 5: Summary of our Two JVs
1| Highlights| Summary of our Two JVs Small LPG JV Structure- 1 • Currently we have one vessel, the Eco Lucidity, 2021 operating in the spot market. EARNINGS VISIBILITY Q3 2021 Q4 2021 Vessel Charter End Date Aug Sep Oct Nov Dec Name Type • Since our last announcement : 1 Gas Haralambos TC June 2022
Slide 6: LPG Fleet Trading Profile
Rest France Spain UK 1| Highlights| LPG Fleet Trading Profile EU-17 vessels Norway Netherlands Portugal • Stealth Gas focuses on regional trade and local distribution of gas. • Fleet trading pattern is geographically diversified and is continuously adjusted to market needs. • Our LPG fleet (incl. se
Slide 7: Income Statement Q2 21 vs Q2 20
2| Financials| Income Statement Q2 21 vs Q2 20 Income Statement Q2 Q2 6M 6M Comparing Q2 2021 to Q2 2020 (Amounts in USD'000s) 2020 2021 2020 2021 - Revenues came in at $39.2 million in Q2 21’ marking an increase of $3.0 million Voyage revenues 36,252 39,250 70,629 76,666 (8.0%) compared to the same
Slide 8: Performance Highlights & Analysis
2|Financials |Performance Highlights & Analysis |Performance Highlights Fleet Data Q2 2020 Q2 2021 6M 2020 6M 2021 Period end number of owned vessels in fleet 42 42 42 42 • Operational utilization of about 96.3% compared Total calendar days for fleet 3,743 3,822 7,554 7,567 to 97.2% in Q2 20’ as a r
Slide 9: Balance Sheet 6M 2021
2|Financials | Balance Sheet 6M 2021 Balance Sheet (Amounts in $'000s) 12M 2020 6M 2021 Assets • Liquidity on GASS balance sheet, including restricted cash, is $48.5 million. Cash & cash equivalents 38,242 33,006 Current assets excl. cash 9,811 25,687 Advances for vessels 6,539 Vessel, net 832,335 8
Slide 10: LPG Sector Highlights & Trends
3|Market update| LPG Sector Highlights & Trends 60 | Global LPG Imports (MMt/y) • LPG demand is bound to increase in the years ahead. 50 • Chinese imports will be driven mostly by the petrochemical sector as there are 13 PDH units 40 planned to commence operations up until 2023. 30 • The rise of the
Slide 11: LPG Sector Highlights & Trends
3|Market update| LPG Sector Highlights & Trends • During Q2 21’- charter rates for small LPGs remained relatively unchanged compared to Q1 21’- but still remain lower than pre-pandemic levels. Focusing on LPG trade: • West of Suez: The spot market firmed particularly towards the end of the second |S
Slide 12: Share Performance
4|Share Performance 70% Crude Oil StealthGas Inc. Dorian Lpg Ltd Navigator Holdings Ltd. 60% 50% 40% 30% 20% 10% 0% -10% -20% -30% 1/1/2021 2/1/2021 3/1/2021 4/1/2021 5/1/2021 6/1/2021 7/1/2021 8/1/2021 • Since the beginning of 2021 the majority of shipping stocks followed a correlation to oil price
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 key variables that will affect our performance going forward. |GASS Financial & Market Forecast Considerations ❖ Significant operating l
Slide 14: Why StealthGas?
5|Outlook|Why StealthGas? StealthGas Strengths Positive Market Drivers Our Company’s core value lies on the following: Market Factors that will positively affect our segment and consequently our Company: ✓ Conservative chartering policy and capital structure management with total (incl. JVs) secured