Awilco Lng Asa · OSL:ALNG
Awilco Lng Asa — Q3 2023 Earnings Presentation
20 slides from Awilco Lng Asa's earnings presentation, Nov 15, 2023
Slide 1: Third quarter 2023
Third quarter 2023 November 15, 2023 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
Agenda November 14, 2023 1. Highlights 2. Financials third quarter 2023 3. Market update 4. Summary www.awilcolng.no -4-
Slide 5: Highlights
Highlights Awilco LNG achieved a net result of USD 3.3 million and profit per share of USD 0.03 in the third quarter, down from a net result of USD 11.0 million and USD 0.08 per share in the second quarter 2023 Net freight income of USD 14.8 million in third quarter 2023, down from USD 21.9 mill
Slide 6: Agenda
Agenda November 14, 2023 1. Highlights 2. Financials third quarter 2023 3. Market update 4. Summary www.awilcolng.no -6-
Slide 7: Third quarter 2023 income statement
Third quarter 2023 income statement USD million Q3’23 Q2’23 YTD’23 2022 Freight income 15.6 22.1 58.4 51.5 Voyage related expenses (0.7) (0.2) (1.1) (6.2) Net freight income 14.9 21.9 57.3 45.3 Other income 0.0 0.0 0.0 0.4 Operating expenses (2.8) (2.4) (8.2) (11.0) Administration expenses (1.0) (1.
Slide 8: Third quarter 2023 financial position
Third quarter 2023 financial position USD million 30.09.23 30.06.23 31.12.22 Vessels 320.2 314.0 317.1 Other fixed assets 0.5 0.5 0.5 Total non-current assets 317.3 314.5 317.6 Trade receivables 2.4 3.8 3.8 Financial investments 0.0 0.0 0.0 Other short term assets 0.4 0.6 0.6 Cash and cash equivalen
Slide 9: Third quarter 2023 cash flow
Third quarter 2023 cash flow USD million Q3’23 Q2’23 Q3’22 2022 Cash Flows from Operating Activities: Profit/(loss) before taxes 3.3 11.0 (5.1) 5.8 Income taxes paid - - - - Interest and borrowing costs expensed 4.8 4.7 3.5 12.8 Depreciation, amortisation and impairment 3.2 3.1 3.1 12.7 Valuation ad
Slide 10: 2nd SS / DD of both vessels
2nd SS / DD of both vessels • Both vessels completed second special survey, including drydock during third quarter 2023 • Final cost of USD 12.2 million – on budget • Total of about 60 days off-hire including positioning /repositioning – as expected www.awilcolng.no - 10 -
Slide 11: Agenda
Agenda November 14, 2023 1. Highlights 2. Financials third quarter 2023 3. Market update 4. Summary www.awilcolng.no - 11 -
Slide 12: 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 • The LNG market seasonally rebounded during third quarter, but fell off somewhat due to high storage levels in Europe and limited con
Slide 13: LNG export and import
LNG export and import Q3 2023 vs Q3 2022 (YoY change) West Africa Russia North America North Africa Middle East and Gulf Latin America Europe Asia -6 -5 -4 -3 -2 -1 0 1 2 3 Import (in MT) Export (in MT) • Lowest discharged volume since third quarter 2021 as a result of low production • High storage
Slide 14: Gas prices
Gas prices USD/MMBTU 100 90 80 70 60 50 40 30 20 10 0 01/2018 03/2018 05/2018 07/2018 09/2018 11/2018 01/2019 03/2019 05/2019 07/2019 09/2019 11/2019 01/2020 03/2020 05/2020 07/2020 09/2020 11/2020 01/2021 03/2021 05/2021 07/2021 09/2021 11/2021 01/2022 03/2022 05/2022 07/2022 09/2022 11/2022 01/202
Slide 15: Trainspotting – new LNG production
Trainspotting – new LNG production MTPA 14 LNG PROJECTS MTPA 700 12 650 10 600 8 550 6 500 4 450 2 400 0 350 2023 2024 2025 2026 2027 2028 2029 2030 Total capasity (RHS) • ~ 260 MTPA new capacity currently under construction or in advanced planning. • High activity following Europe's renewed focus o
Slide 16: LNG fleet and orderbook
LNG fleet and orderbook NO. VESSELS TOTAL FLEET 1000 100 900 800 80 700 600 60 500 400 40 300 20 200 100 0 0 Fixed (LHS) Available (LHS) Delivered (LHS) Total fleet (RHS) • Orderbook for LNGC now stand at 318 of which about 10% are unfixed • Ordering activity have slowed down last quarter • Contract
Slide 17: Agenda
Agenda November 14, 2023 1. Highlights 2. Financials third quarter 2023 3. Market update 4. Summary www.awilcolng.no - 17 -
Slide 18: Summary
Summary The Company report a profit for the quarter of USD 3.3 million and an all-time high first nine-months result of USD 23.4 million Both vessels successfully completed their second special survey, including dry-dock, and have resumed their fixed rate contracts Total cost for drydocking of
Slide 19: 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 - 19 -
Slide 20: 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 - 20 -