Stealthgas, Inc. · NASDAQ:GASS
Stealthgas — Q4 2020 Earnings Presentation
14 slides from Stealthgas's earnings presentation, Feb 25, 2021
Slide 1: Q4 & 12M 2020 Financial and Operating Results
SteatlhGas Inc. | Q4 & 12M 2020 Financial and Operating Results | February 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 98.5%- with 60 days of technical off hire as a result of two drydockings completed within Q4 2020. • Operational utilization of 93.6% mainly due to about 16 of our ships having a predominant presence in the spot mark
Slide 4: Fleet Employment Analytics (As of February 2021)
1| Highlights| Fleet Employment Analytics (As of February 2021) 2021 EARNINGS VISIBILITY Q1 2021 Q2 2021 Q3 2021 Q4 2021 Vessel Charter End Date Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Name Type Rate 1 Eco Elysium TC June 2024 2 Gas Myth TC Jan 2023 3 Gas Galaxy TC Sep 2022 • 10 new period chart
Slide 5: Summary of our Two JVs
1| Highlights| Summary of our Two JVs Small LPG JV Structure- 1 • Three out of five vessels of our JV scheme EARNINGS VISIBILITY 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2021 comprising mostly of small LPGs, are Vessel Charter End Date Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec currently under time charter
Slide 6: LPG Fleet Trading Profile
Rest France EU-15 vessels 1| Highlights| LPG Fleet Trading Profile Spa… Poland UK Portugal • StealthGas 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. semi-refs) tradi
Slide 7: Income Statement Q4 19 vs Q4 20
2| Financials| Income Statement Q4 19 vs Q4 20 Income Statement Q4 Q4 12M 12M (Amounts in USD'000s) 2019 2020 2019 2020 Comparing Q4 2020 to Q4 2019 - Revenues came in at $37.3 million in Q4 20’ marking an increase of $2.1 Voyage revenues 35,165 37,294 144,259 145,003 million (6.1%) compared to the
Slide 8: Performance Highlights & Analysis
2|Financials |Performance Highlights & Analysis |Performance Highlights Fleet Data Q4 2019 Q4 2020 12M 2019 12M 2020 Period end number of owned vessels in fleet 41 41 41 41 • Operational utilization of 93.6% % in Q4 20’ and 96.1% for 12M 20’. Total calendar days for fleet 3,952 3,873 16,328 15,292 •
Slide 9: Balance Sheet 12M 2020
2|Financials | Balance Sheet 12M 2020 Balance Sheet (Amounts in $'000s) 12M 2019 12M 2020 Assets • Liquidity on GASS balance sheet, including restricted cash is Cash & cash equivalents 68,465 38,242 $53 million while as to date we have no further capital Current assets excl. cash 9,467 9,811 expendi
Slide 10: LPG Sector Highlights & Trends
3|Market update| LPG Sector Highlights & Trends |World LPG Exports by Destination 60 57 56 • In 2020 global LPG loadings amounted to 141.8 million tonnes,- 52 marking an annual decline of 2.1%. 50 • LPG imports to China marked a moderate decline of 0.2% 40 while LPG trade contraction in the EU was s
Slide 11: LPG Sector Highlights & Trends
3|Market update| LPG Sector Highlights & Trends • During Q4 20’- rates for small LPGs remained fairly stable. It is however too early to assess if stabilization of rates is due to seasonal factors or if it can be deemed as a first sign of gradual market recovery. |Small LPG Daily Charter Rates Evolu
Slide 12: Share Performance
20% 4|Share Performance Crude Oil StealthGas Inc. Dorian Lpg Ltd Navigator Holdings Ltd. 0% -20% -40% -60% -80% -100% 1/1/2020 2/1/2020 3/1/2020 4/1/2020 5/1/2020 6/1/2020 7/1/2020 8/1/2020 9/1/2020 10/1/2020 11/1/2020 12/1/2020 1/1/2021 2/1/2021 • Since the beginning of 2020 the majority of the shi
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