Tsakos Energy Navigation Ltd · NYSE:TEN

Tsakos Energy Navigation — FY2012 Earnings Presentation

17 slides from Tsakos Energy Navigation's earnings presentation, Apr 19, 2013

  1. Slide 1: Q4 & YE 2012 Earnings Conference Call

    TEN Ltd Tsakos Energy Navigation April 19, 2013 1 Q4 & YE 2012 Earnings Conference Call

  2. Slide 2: Forward-looking statements

    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: Fleet Composition

    20 Years in the Fleet Composition Capital Markets Crude LNG Product 19 2 28 Empire State VLCC Suezmax Aframax LNG Suezmax Aframax Panamax Handymax Handysize 1,250 1,100 900 850 750 900 850 750 615’ 570’ 300,000dwt 160,000dwt 100,000dwt 85,000dwt 160,000dwt 100,000dwt 70,000dwt 50,000dwt 37,0

  4. Slide 4: Positive Long-term Outlook

    20 Years in the Positive Long-term Outlook Capital Markets BARRELS OF OIL PER CAPITA PER ANNUM (Source: BP Statistical Review of World Energy June 2012  Tremendous potential of China and India with a combined population of 25 22 2.5 billion in a world of 7.0 billion. Their per capita oil consumptio

  5. Slide 5: Corporate Facts

    20 Years in the Corporate Facts Capital Markets  49 vessels (pro forma)  Active fleet utilization in Q4 2012 at 99.1%  47 in operation  1x DP2 shuttle tanker under  62% of remaining 2013 (Q2 onwards) and 47% of 2014 construction available days in secured revenue contracts (including pools)  1x

  6. Slide 6: 2012 Highlights

    20 Years in the 2012 Highlights Capital Markets  Voyage revenues of $394.0 million  Adjusted EBITDA including net vessel sales proceeds of $157.2 million  $14.9 million in operating income vs. $1.7 million in 2011 (nine-fold increase), both adjusted to exclude impairment charges  45.0% improveme

  7. Slide 7: Fleet (as of April 19, 2013)

    20 Years in the Fleet (as of April 19, 2013) Capital Markets CLEAN/PRODUCT TANKERS CRUDE TANKERS Dwt Built Hull Ice Class/Other Dwt Built Hull Ice Class/Other SUEZMAX - SHUTTLE VLCC 1 Rio 2016 157,000 2013 DH DP2 1 Millennium 301,171 1998 DH 2 Brasil 2014 157,000 2013 DH DP2 SUEZMAX AFRAMAX - LR 1 S

  8. Slide 8: Employment Details (as of April 19, 2013)

    20 Years in the Employment Details (as of April 19, 2013) Capital Markets 1 16 13 2 15 TC (Fixed) TC (Fixed) - Shuttles TC (P/S) Pool (Spot Related) Spot Secured Employment Flexible Employment 8

  9. Slide 9: Secured Revenues (including TC, TC w/PS, Pool)

    20 Years in the Secured Revenues (including TC, TC w/PS, Pool) Capital Markets 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 2013 (end of Q1) 2014 62% 48% Fixed Fixed Minimum R

  10. Slide 10: Sale & Purchase Activity – Capital Gains

    20 Years in the Sale & Purchase Activity – Capital Gains Capital Markets  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  $28 million average p

  11. Slide 11: Continuous Dividend Payments

    20 Years in the Continuous Dividend Payments Capital Markets On June 4th, 2010 the Board of Directors declared a change in TEN’s dividend policy from semi-annual to quarterly payments  Dividend payments far in excess of original IPO price of $7.50/share  Today investors have gotten $9.625/share in

  12. Slide 12: NAV Dislocation

    20 Years in the NAV Dislocation Capital Markets  Share price continues to trade a significant discounts to its NAV…  Management believes that the current share prices of TEN does not accurately reflect the true value of the Company  TEN’s share price has suffered for reasons unrelated to the Comp

  13. Slide 13: Income Statement

    20 Years in the Income Statement Capital Markets Three months ended Year ended December 31 December 31 STATEMENT OF OPERATIONS DATA 2012 2011 2012 2011 Voyage revenues $ 100,303 $ 100,795 $ 393,989 $ 395,162 Commissions 3,668 3,817 12,215 14,290 Voyage expenses 29,097 35,066 111,797 127,156 Vessel o

  14. Slide 14: Balance Sheet

    20 Years in the Balance Sheet Capital Markets BALANCE SHEET DATA December 31 December 31 2012 2011 Cash, restricted cash and marketable securities 162,153 184,226 Other assets 80,889 119,115 Vessels, net 2,088,358 2,194,360 Advances for vessels under construction 119,484 37,636 Total assets $ 2,450,

  15. Slide 15: Other Financial / Fleet Data

    20 Years in the Other Financial / Fleet Data Capital Markets Three months ended Year ended OTHER FINANCIAL DATA December 31 December 31 2012 2011 2012 2011 Net cash from operating activities $ 21,405 $ 4,938 $ 60,862 $ 45,587 Net cash (used in)/from investing activities $ 10,071 $ (19,653) $ (42,985

  16. Slide 16: APPENDIX: World Tanker Fleet vs. Newbuilding Orderbook

    APPENDIX : World Tanker Fleet vs. Newbuilding Orderbook 4,500 4,258 4,293 4,166 4,005 3,862 4,000 3,500 3,000 2,500 2,000 1,500 1,059 890 1,000 598 477 468 500 0 27.4% 22.2% 14.3% 11.2% 10.9% 2009 2010 2011 2012 2013 (Mar) Orderbook Fleet 16 Source: Clarkson Research Services, March 2013

  17. Slide 17: 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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