Globus Maritime Limited · NASDAQ:GLBS
Globus Maritime — Q2 2012 Earnings Presentation
19 slides from Globus Maritime's earnings presentation, Sep 11, 2012
Slide 1: 2nd Quarter and 1st Half 2012 Results Conference Call and Webcast
2nd Quarter and 1st Half 2012 Results Conference Call and Webcast Company Presentation 11 September 2012
Slide 2: Disclaimer – Forward Looking Statement
Disclaimer – Forward Looking Statement This presentation (and oral statements made regarding the subjects of this presentation) includes statements that are, or may be deemed to be, “forward-looking statements” as defined under U.S. federal securities laws. These forward-looking statements reflect t
Slide 3: Company Update Report
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Slide 4: Company Update
Company Update Results Q2 – 2012__ H1 - 2012 • Net Loss: ($2.4) million ($0.8) million • Loss Per Share: ($0.27) per share ($0.10) per share • Gross Revenue: $7.7 million $17.1 million • Voyage Expenses: $2.8 million $ 2.9 million • Net Revenue: $4.9 million $14.2 million • Adj. EBITDA: $1.7 million
Slide 5: Operating Highlights
Operating Highlights Q2 2012 Q1 2012 FY 2011 Q4 2011 Q3 2011 Q2 2011 Ownership Days 637 637 2,125 644 567 464 Available Days 587 637 2,111 644 567 464 Operating Days 570 633 2,083 644 544 461 Bareboat Charter 91 91 365 92 92 91 Days Average No. of 7.0 7.0 5.8 7.0 6.2 5.1 Vessels Fleet Utilization 97
Slide 6: Fleet and Employment Profile (as of Sept 2012)
Fleet and Employment Profile (as of Sept 11 2012) th Earliest Expected Daily Charter Charter Vessel Name Type Year Built DWT Charterer Rate(1) Expiration / remaining duration China River Globe Supramax 2007 53,627 $8,200 14 Sept Navigation Co Sky Globe Supramax 2009 56,855 $12,500 Aug 2013 HMM Star
Slide 7: Time Charter Coverage
Time Charter Coverage 2012 2013 Tiara Globe $9,000/day Spot River Globe Spot Star Globe Spot Sky Globe $12,500/day Jin Star $14,250/day Bareboat Sun Globe $16,000/day Moon Globe $18,000/day Spot 31-Dec-12 31-Dec-13 Charter Coverage approx. 68% 45% 1. As of September 1, 2012 - based on the earliest a
Slide 8: Market Update
Market Update Baltic Timecharter Earnings —Cape = —Panamax = —Supramax. 9 —Handy 10 September 2012 Baltic Exchange Dry Index ™ 666 Baltic Exchange Capesize Index ™ 1188 Baltic Exchange Panamax Index ™ 582 Daily Summary of Baltic Exchange Dry Indices Baltic Exchange Supramax Index ™ 827 Baltic Exchan
Slide 9: Current Market Conditions
Current Market Conditions Demand Side • China's central planners unveiled a $155b spending plan on railroads and highways; • China’s domestic demand for steel is rapidly decreasing; • Domestic steel prices have collapsed 24% since mid April to below Rmb 3,400 per tonne; • CISA recently declared that
Slide 10: Current Market Conditions
Current Market Conditions Source: The FT – HSBC Shipping Services 10
Slide 11: Dry Bulk Fleet Developments
Dry Bulk Fleet Developments 11
Slide 12: 2nd Quarter 2012 Results CFO Presentation
2nd Quarter 2012 Results CFO Presentation
Slide 13: Recent Developments
Recent Developments Q2-2012 • Paid $0.085 cash DPS for Q1-12, or $0.86m, in May; • Repaid the regular installment of $500k to DSB (now Commerzbank) in June; • Repaid the regular installments of $440k & $416k to DVB in June; • Reduced the undrawn amount at Credit Suisse by $4.5 m in May; • Drydocked
Slide 14: Strong Liquidity Position
Strong Liquidity Position December 30, ($ million) March 31, 2012 June 30, 2012 2011 Cash 9.31 9.31 8.61 111.4 110.0 108.6 Bank Debt (available)2 10.0 (available)2 10.0 (available)2 5.5 Net Debt 102.1 100.7 100.0 Total Equity 140.0 140.3 136.9 Net Debt/Total 42.2% 41.8% 42.2% Capitalization3 (1) Inc
Slide 15: Income Statement
Income Statement Globus Maritime Limited H1 - 12 Q2 - 12 Q1 - 12 FY 2011 H1 2011 Q2 - 11 ($ 000s) Net revenue 14,204 4,895 9,309 32,276 14,397 6,931 Vessel operating expenses (4,918) (2,320) (2,598) (7,967) (3,414) (1,831) Admin expenses1 (1,579) (691) (888) (3,592) (1,808) (892) Other income/ (expe
Slide 16: Balance Sheet
Balance Sheet Globus Maritime Limited 30 / 6 / 12 31 / 3 / 12 31 / 12 / 11 31 / 12 / 10 (US$ 000’s) Cash 8,605 9,350 9,301 24,618 Other Current 5,834 7,171 4,166 2,277 Assets Non-Current Assets 236,220 239,076 242,592 191,556 Total Assets 250,659 255,597 256,059 218,451 Total Bank Debt 108,167 109,4
Slide 17: Appendix
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Slide 18: Executive Team
Executive Team George Karageorgiou, Chief Executive Officer Co-founder, Chief Executive Officer since September 2006 19 years shipping experience (5 years of which involved public company experience) − Projects engineer for Kassos Maritime Enterprises from 1990-1992 − Director and Corporate Secr
Slide 19: Contacts
Contacts Globus Maritime Limited George Karageorgiou Elias Deftereos President & CEO Chief Financial Officer info@globusmaritime.gr deftereos@globusmaritime.gr Tel: +30 210 960 8300 Tel: +30 210 960 8300 www.globusmaritime.gr Capital Link – New York Nicolas Bornozis Matthew Abenante +1 212 661 7566