Slide 1: Third Quarter 2008 Results
Third Quarter 2008 Results November 13, 2008
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 Took delivery of one handy-size LPG Carrier in August 2008 Took delivery of one Handy-Size LPG vessel in November 2008 Acquiring two new resale LPG vessels and two M.R. Product Carriers in 2009 Five new LPG vessels and two new Su
Slide 4: Fleet Development
Fleet Development Our track record of growth through well-timed acquisitions continues Acquisition strategy for fleet to number minimum of 41 ships by year end 2008, 45 by 2009, 47 by 2010, and minimum 52 by 2011 3 StealthGas Inc. © 2007
Slide 5: Fleet Employment Profile
Fleet Employment Profile 4 StealthGas Inc. © 2007
Slide 6: Third Quarter 2008 Financial Highlights
Third Quarter 2008 Financial Highlights Third Quarter 2008 Q3 Net income of $5.4 million, net revenues of $28.9 million, EBITDA of $13.5 million Q3 Net income of $7.0 million before net non cash expense of $1.6 million on interest rate swaps and provision for restricted-stock portion of deferred sto
Slide 7: Third Quarter 2008 Income Statement
Third Quarter 2008 Income Statement In US$ 000, except per Q3 2007 Q4 2007 Q1 2008 Q2 2008 Q3 2008 share amounts Net Revenues $23,242 $26,129 $27,014 $28,480 $28,895 Operating Income 7,479 9,148 * 12,127 10,299 9,633 Net Income 4,000 6,226 * 7,431 9,438 5,369 Net Income, net of interest rate swap &
Slide 8: Third Quarter 2008 Operating Highlights
Third Quarter 2008 Operating Highlights Fleet Data & Daily Results Fleet Data FY06 FY07 3Q07 4Q07 1Q08 2Q08 3Q08 Average number of vessels in fleet 25.9 32.8 35.1 37.5 37.9 38.0 38.7 Period end number of vessels in 28.0 38.0 36.0 38.0 38.0 38.0 39.0 fleet Total calendar days for fleet 9,451 11,986 3
Slide 9: Nine Months 2008 Financial Highlights
Nine Months 2008 Financial Highlights Nine months 2008 Nine months Net Income of $22.2 million, net revenues of $84.4 million, EBITDA of $45.6 million Nine months Net Income of $25.2 million before net non cash expenses of $3.0 million on interest rate swaps, provision for restricted-stock portion o
Slide 10: Nine Months 2008 Income Statement
Nine Months 2008 Income Statement In US$ 000, except per share Nine Months Nine Months amounts 2007 2008 Net Revenues $63,866 $84,389 Operating Income 24,209 * 32,059 Net Income 16,312 * 22,238 Net Income, net of interest rate swap & 18,752 * 25,293 stock based compensation EBITDA 33,644 * 45,619 EP
Slide 11: Daily Breakeven
Daily Breakeven Q2 2008 vs Q3 2008 Daily Cashflow and Net Income Breakeven Composition ($ per vessel per day) Q2 2008 fleet calendar days: 3,458 Q3 2008 fleet calendar days: 3,557 Q2 2008 Q3 2008 Expenses Cash Flow Net Income Cash Flow Net Income Operating $2,283 * $2,283 * $2,469 * $2,469 * Managem
Slide 12: Financial Estimator
Financial Estimator ($ in millions) 41 Vessels 2008E Non Contracted Voyage Days 279 Daily Spot Charter Rate - 4,250 cbm vessel ? Spot Revenue ? Period Charter Revenue (T/C and Bareboat) $109.6 Total Revenue ? Operating Expenses 34.8 SG&A and Management Fees 11.4 Commissions 3.1 Maintenance CapEx 0.9
Slide 13: Reducing Reliance Upon Third Party Managers
Reducing Reliance Upon Third Party Managers February 20, 2008 May 27, 2008 1 1 7 7 10 11 6 6 Stealth Maritime EMS Swan V.Ships Stealth Maritime EMS Swan V.Ships August 8, 2008 November 10, 2008 1 1 2 7 11 11 7 6 6 Stealth Maritime EMS Swan V.Ships Stealth Maritime EMS Swan V.Ships P.T.C. 12 StealthG
Slide 14: LPGC freight rates
LPGC freight rates Average earnings in the spot market excluding waiting time / 1 yr TC rates 800 USD 1000's per month 700 600 15000 SR TCE 500 8000 ETH TCE 400 6500 SR TCE 3500 SR 1yr TC 300 3500 PR 1yr TC 200 west 100 INGE STEENSLAND AS 2002 2003 2004 2005 2006 2007 2008 13 StealthGas Inc. © 2007
Slide 15: Charter Market Rate Indicator (12 Month TCs)
Charter Market Rate Indicator (12 Month TCs) Q3 2008 Average Current Q4 2008 Forecast 3,200 CBM S/R 310,000 310,000 310,000 3,500 CBM P/R 246,923 237,500 230,000 5,000 CBM P/R 327,692 310,000 290,000 6,000 CBM S/R 525,000 525,000 500,000 15,000 CBM S/R 725,000 725,000 725,000 35,000 CBM 900,000 900,
Slide 16: Fleet Development Vs. TC Rates/Earnings
3000-7999 cbm Fleet Development Vs. TC Rates/Earnings* 600 20% TC rates in USD 1000's per month (lines) Fleet growth in % (bars) 500 15% TC equiv. spot earnings 400 10% 300 5% 200 0% 100 -5% INGE STEENSLAND AS - -10% 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 201
Slide 17: Contacts
Contacts Company Contact: Andrew J. Simmons Visit our Website at: Chief Financial Officer www.stealthgas.com StealthGas Inc. Weekly LPG Market Report 011-30-210-6250-001 updated every Monday E-mail: simmons@stealthgas.com www.stealthgas.com Comprehensive Investor Relations Information 16 StealthGas