Tsakos Energy Navigation Ltd · NYSE:TEN

Tsakos Energy Navigation — Q3 2012 Earnings Presentation

14 slides from Tsakos Energy Navigation's earnings presentation, Nov 21, 2012

  1. Slide 1: Q3 & 9mo 2012 Earnings Conference Call

    TEN Ltd Tsakos Energy Navigation November 21, 2012 1 Q3 & 9mo 2012 Earnings Conference Call

  2. Slide 2: Forward-looking statements disclaimer

    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

  3. Slide 3: Corporate Facts

    Corporate Facts  51(1) vessels (pro forma)  Active fleet utilization in Q3 2012 at 98%  48(1) in operation  2x DP2 shuttle tanker  63% of remaining (Q4) 2012 and 53% of 2013 suezmaxes under construction available days in secured revenue contracts  1x LNG under construction  Accumulated income

  4. Slide 4: 9mo Corporate Highlights

    9mo Corporate Highlights  Voyage revenues of $293.7 million  Positive EBITDA generated from all operational ships totalling $87.7 million  $11.9 million in operating income vs. $4.6 million in nine-months 2011 (159% increase)  24% improvement in the net results, ($24.9) million loss vs. ($32.9)

  5. Slide 5: Fleet (as of November 21, 2012)

    Fleet (as of November 21, 2012) CLEAN / PRODUCT TANKERS CRUDE TANKERS Dwt Built Hull Ice Class Dwt Built Hull Ice Class AFRAMAX - LR VLCC 1 Proteas 117,055 2006 DH 1A 1 Millennium 301,171 1998 DH 2 Promitheas 117,055 2006 DH 1A (3) 3 Propontis 117,055 2006 DH 1A 2 La Madrina 299,700 1994 DH (3) PANA

  6. Slide 6: Employment Details (as of November 21, 2012)

    Employment Details (as of November 21, 2012 - excludes two VLCCs agreed to be sold) 4 15 13 2 14 TC (Fixed) TC (Fixed) - Shuttles TC (P/S) Pool (Spot Related) Spot Secured Employment Flexible Employment 6

  7. Slide 7: Secured Revenues (including TC, TC w/PS, Pool)

    Secured Revenues (including TC, TC w/PS, Pool) Based on employable dates and includes vessels time charter, pools – subject to change based on new deliveries and potential changes in TEN’s chartering policy Remaining 2012 (end of Q3) 2013 63% 50% Fixed Fixed Minimum Revenues Minimum Revenues (Expect

  8. Slide 8: Sale & Purchase Activity – Capital Gains

    Sale & Purchase Activity – Capital Gains  Sale & Purchase activity integral to operations – Close to 100 transactions - realizing actual value  Since 2003 TEN has generated capital gains from its sale & purchase activity close to $280 million  $29 million average per year in capital gains since N

  9. Slide 9: Continuous Dividend Payments

    Continuous Dividend Payments On June 4th, 2010 the Board of Directors declared a change in TEN’s dividend policy from semi-annual to quarterly payments  Since initiation of dividend payments and including the recently announced quarterly payment, TEN has distributed a total of $9.525 per share to i

  10. Slide 10: Income Statement

    Income Statement Three months ended Nine months ended September 30 September 30 STATEMENT OF OPERATIONS DATA 2012 2011 2012 2011 Voyage revenues $ 92,409 $ 93,862 $ 293,686 $ 294,367 Commissions 3,375 3,399 8,548 10,473 Voyage expenses 24,812 34,849 82,700 92,090 Vessel operating expenses 33,146 32,

  11. Slide 11: Balance Sheet

    Balance Sheet BALANCE SHEET DATA September 30 December 31 September 30 2012 2011 2011 Cash, restricted cash and marketable securities 164,275 184,226 237,960 Other assets 126,630 119,115 84,049 Vessels, net 2,124,215 2,194,360 2,301,955 Advances for vessels under construction 88,939 37,636 19,060 To

  12. Slide 12: Other Financial / Fleet Data

    Other Financial / Fleet Data Three months ended Nine months ended OTHER FINANCIAL DATA September 30 September 30 2012 2011 2012 2011 Net cash from operating activities $ 4,824 $ 5,024 $ 39,457 $ 40,641 Net cash (used in)/from investing activities $ (50,574) $ (17,442) $ (53,056) $ (49,526) Net cash

  13. Slide 13: APPENDIX: World Tanker Fleet vs. Newbuilding Orderbook

    APPENDIX : World Tanker Fleet vs. Newbuilding Orderbook 4,500 4,244 4,166 4,005 4,000 3,862 3,500 3,000 2,500 2,000 1,500 1,059 893 1,000 600 496 500 0 27.4% 22.3% 14.4% 11.7% 2009 2010 2011 2012 (Oct) Orderbook Fleet Source: Clarkson Research Services - October 2012 13

  14. Slide 14: Tsakos Energy Navigation, Ltd

    TSAKOS ENERGY NAVIGATION, LTD For more information please contact: Paul Durham: Chief Financial Officer pdurham@tenn.gr George Saroglou: Chief Operating Officer gsaroglou@tenn.gr Harrys Kosmatos: Corporate Development Officer hkosmatos@tenn.gr Tsakos Energy Navigation, Ltd 367 Syngrou Avenue Athens

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