Dynagas LNG Partners LP · NYSE:DLNG
Dynagas LNG Partners LP — Q3 2023 Earnings Presentation
13 slides from Dynagas LNG Partners LP's earnings presentation, Dec 8, 2023
Slide 1: Q3 2023 Financial Results Presentation
Q3 2023 Financial Results Presentation 8 December, 2023
Slide 2: Forward Looking Statements and Disclaimer
Forward Looking Statements and Disclaimer This presentation contains certain statements that may be deemed to be “forward-looking statements” within the meaning of applicable federal securities laws. All statements included in this presentation which are not historical or current facts (including ou
Slide 3: Forward Looking Statements and Disclaimer
Forward Looking Statements and Disclaimer borrowings and to access debt and equity markets; planned capital expenditures and availability of capital resources to fund capital expenditures; our ability to maintain long-term relationships with major LNG traders; our ability to leverage our Sponsor’s r
Slide 4: Recent Developments
Recent Developments Quarter Highlights Net income of $1.4 million and Loss per common unit (basic and diluted) of $0.04; Adjusted Net Income (1) of $3.1 million and Adjusted Earnings (1) per common unit (basic and diluted) of $0.01; Adjusted EBITDA(1) of $20.4 million; 99.8% fleet utilization; Compl
Slide 5: Financial Performance
Financial Performance Stable Operating and Financial Performance Revenues ($m) Adjusted EBITDA ($m) Adjusted Net Income ($m) 40.0 30.0 14.0 35.0 12.0 25.0 30.0 10.0 20.0 25.0 8.0 20.0 15.0 6.0 15.0 10.0 4.0 10.0 5.0 5.0 2.0 0.0 0.0 0.0 q1 q2 q3 q4 q1 q2 q3 q4 q1 q2 q3 q1 q2 q3 q4 q1 q2 q3 q4 q1 q2 q
Slide 6: Financial Summary
Financial Summary Credit Metrics Quarterly Financials Other 4.1x $37.0 million Q3 2023 Net Debt to LTM EBITDA Completed 2023 Special Surveys Q3 2023 voyage revenues Arctic Aurora in September 2023 42% Yenisei River in August 2023(1) $21.8 million Q2 2023 Net Debt to Total Book Lena River in Septembe
Slide 7: Highlights
Highlights Q3 2023 Change in Cash Balance (USD thousands) $80,000 $20,384 $11,602 $70,000 -$1,343 $64,911 $60,000 -$8,794 -$1,420 -$12,000 $52,898 -$2,891 $50,000 $40,000 $30,000 $20,000 $10,000 $6,475 $0 Adjusted EBITDA Interest Expense DD Contract Revenues Preferred Distributions Cash Balance 09/3
Slide 8: Fleet Profile
Fleet Profile Fleet n 6 LNG carriers n 914,100 cbm (149,700 cbm for steam turbine LNG fleet, 155,000 cbm for the tri-fuel diesel Total cbm capacity engine LNG fleet (TFDE’s)) Fleet average age n ~13.3 years(1) Average remaining charter n ~7.2 years(1)(2) duration n Equinor (Norway), SEFE Marketing &
Slide 9: Fleet Employment Overview
Fleet Employment Overview Size Charterer 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Clean Energy 150,000 SEFE (Singapore) Rio Grande LNG Ob River (1) 150,000 SEFE (Singapore) Amur River (1) 150,000 SEFE (Singapore) Yenisei River(2) 155,000 Yamal LNG (Singapore) 5+5+5 yrs L
Slide 10: Partnership Highlights
Partnership Highlights Current Status Strategic Objectives Since September 2019: Strengthen § Repaid $242m in debt(1) Long-term, high-quality contracts with major § Decreased Net Leverage from 6.6x to 4.1x(2) LNG companies Balance Sheet § Organically increased book equity value by 42% to $441m (2) §
Slide 11: Appendix
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Slide 12: Reconciliation of Net Income to adjusted Net Income and Adjusted Earnings per Common Unit
Reconciliation of Net Income to adjusted Net Income and Adjusted Earnings per Common Unit Three Months Ended Nine Months Ended September 30, September 30, (In thousands of U.S. dollars except for units and per unit data) 2023 2022 2023 2022 Net Income $ 1,380 $ 7,393 $ 25,410 $ 42,392 Amortization o
Slide 13: Reconciliation of Net income to Adjusted EBITDA
Reconciliation of Net income to Adjusted EBITDA Three Months Ended Nine Months Ended September September 30, 30, (In thousands of U.S. dollars) 2023 2022 2023 2022 Net income $ 1,380 $ 7,393 $ 25,410 $ 42,392 Net interest and finance costs (1) 9,203 7,441 27,605 18,479 Depreciation 8,048 8,027 23,86