Slide 1: StealthGas Inc. 1st Quarter 2007 Results
StealthGas Inc. 1st Quarter 2007 Results NASDAQ: “GASS” Earnings Presentation May 22, 2007
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 Continued Expansion • Expanded fleet to 29 vessels in Q1 2007 • Second resale new building vessel to be delivered in October 2007 • Agreed to acquire 8 additional vessels for delivery between May and October 2007 bringing total fleet to 38 vessels M
Slide 4: Fleet Development
Fleet Development Grew fleet to 29 vessels in Q1 2007 Stealth Gas ranks #1 in owned vessels in 3,000 to 8,000 CBM segment 38 40 36 2 35 IPO 32 4 2 30 25 20 36 32 15 29 30 Established 28 28 28 24 10 Oct. 2004 21 5 9 9 4 5 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2004 2005 2005 2005 2005 2006 2006 200
Slide 5: Fleet Employment Profile
Fleet Employment Profile 2007 2008 EARNINGS VISIBILITY Q2 2007 Q3 2007 Q4 2007 Q1 2008 Q2 2008 Q3 2008 Q4 2008 Vessel Charter Exp Date May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Birgit Kosan B/B Oct 2011 31 30 31 31 30 31 30 31 31 29 31 30 31 30 31 31 30 31 30 31
Slide 6: 1st Quarter 2007 Financial Highlights
1st Quarter 2007 Financial Highlights 1st Quarter 2007 ¾ Q1 Net income of $6.6 million, revenues of $20.7 million, EBITDA of $12.3 million ¾ Q1 Net income of $6.6 million before non cash loss on interest rate swaps of approximately $26,000 ¾ EPS of $0.46 cents per share ($0.46 cents per share before
Slide 7: 1st Quarter 2007 Income Statement
1st Quarter 2007 Income Statement In US$ 000, except per share Q1 2006 Q2 2006 Q3 2006 Q4 2006 Q1 2007 amounts Net Revenues $16,938 $17,215 $18,682 $20,424 $20,744 Operating Income 7,500 5,542 5,812 6,889 8,788 Net Income 6,959 4,622 2,094 4,818 6,622 EBITDA 10,160 8,869 7,438 10,219 12,315 EPS 0.50
Slide 8: 1st Quarter 2007 Operating Highlights
1st Quarter 2007 Operating Highlights Fleet Data & Daily Results Fleet Data FY05 FY06 4Q06 1Q07 Average number of vessels in fleet 11.9 25.9 28.0 28.7 Period end number of vessels in fleet 21.0 28.0 28.0 29.0 Total calendar days for fleet 4,334 9,451 2,576 2,579 Total voyage days for fleet 4,288 9,3
Slide 9: Daily Breakeven
Daily Breakeven Q1 2007 vs Q4 2006 Daily Cashflow and Net Income Breakeven Composition ($ per vessel per day) Q4 2006 fleet calendar days: 2,576 Q1 2007 fleet calendar days: 2,579 Q4 2006 Q1 2007 Expenses Cash Flow Net Income Cash Flow Net Income Operating $2,113 $2,113 $2,052 $2,052 Management Fees
Slide 10: Financial Estimator
Financial Estimator ($ in millions) 30 Vessels 2007E Spot Voyage Days 798 Daily Spot Charter Rate - 4,250 cbm vessel ? Spot Revenue ? Period Charter Revenue (T/C and Bareboat) $80.8 Total Revenue ? Operating Expenses 28.3 SG&A and Management Fees 6.9 Commissions 2.1 Maintenance CapEx 1.0 Total Expen
Slide 11: Reducing reliance upon third party managers
Reducing reliance upon third party managers Septem ber 30, 2006 Year End 2006 1 1 2 4 2 5 5 7 8 5 Stealth Maritime Tesma Sw an Hanseatic V Ships Stealth Maritime Tesma Sw an Hanseatic V Ships February 23, 2007 May 21, 2007 0 1 0 1 7 9 8 7 5 5 Stealth Maritime Tesma Sw an Hanseatic V Ships Stealth Ma
Slide 12: LPGC freight rates
LPGC freight rates Average earnings in the spot market excluding waiting time / 1 yr TC rates USD 1000'sper month 700 600 15000 SR 500 8000 ETH 400 6500 SR 300 3500 SR 1yr TC 200 3500 PR 1yr TC west 100 2000 2001 2002 2003 2004 2005 2006 2007 Source: INGE STEENSLAND AS Page 12 StealthGas Inc. © 2006
Slide 13: Charter Market Rate Indicator (12 Month TCs)
Charter Market Rate Indicator (12 Month TCs) Q1 2007 Average Current Q2 2007 Forecast 3,200 CBM S/R 289,846 320,000 330,000 3,500 CBM P/R 221,538 232,500 240,000 6,000 CBM S/R 448,462 475,000 475,000 15,000 CBM S/R 705,769 775,000 800,000 38,000 CBM 957,692 950,000 950,000 60,000 CBM 965,385 950,000
Slide 14: TC equiv. spot earnings
3000-7999 cbm fleet development Vs. TC rates/earnings* 600 15% TCequiv. spot earnings TCrates in USD 1000'sper month (lines) Fleet growth in %(bars) 500 12% 400 9% 300 6% 200 3% 100 0% - -3% 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Overall 3000-7999 fleet growt
Slide 15: Contacts
Contacts Company Contact: Andrew J. Simmons Visit our Website at: Chief Financial Officer www.stealthgas.com StealthGas Inc. 011-30-210-6250-001 Weekly LPG Market Report E-mail: simmons@stealthgas.com updated every Monday www.stealthgas.com Comprehensive Investor Relations Information Investor Relat