Stealthgas, Inc. · NASDAQ:GASS
Stealthgas — Marine Money Presentation 2006
20 slides from Stealthgas's conference presentation, Jun 21, 2006
Slide 1: StealthGas Inc. Energy Drives Success
StealthGas Inc. Energy Drives Success NASDAQ : “GASS” Marine Money Presentation - June 21, 2006 Page 1 StealthGas Inc. © 2006
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: Research for this Presentation is Provided by
Research for this Presentation is Provided by: LORENTZEN & STEMOCO AS Page 3 StealthGas Inc. © 2006
Slide 4: StealthGas Inc
StealthGas Inc STEALTHGAS is No.1 in GAS You might not have heard of us, we've only been operating since the end of 2004. But in that time, we've gone from nothing to being the biggest fleet of handysize liquefied petroleum carriers in the world - not bad for a one year old!!! With 28 vessels rangin
Slide 5: The Outlook for LPG
The Outlook for LPG International seaborne LPG trade is 50 mill tons, will increase to over 70 mill tons in 2009 Volatile and unreliable feedstock from Saudi Arabia will be replaced by more reliable LNG derived cargo volumes Increased export from Middle East and WAfrica Increased demand from US, Ind
Slide 6: Increased LPG Supplies => Higher Freight Rates
Increased LPG Supplies => Higher Freight Rates Expanding LPG supplies driven by increased LNG production and crude oil refining LNG Production CAGR = 12% 14 12 Trillion Cubic Feet 10 8 6 4 2 0 2004 2005E 2006E 2007E 2008E 2009E 2010E LNG Production LPG supplies are expected to increase by 50% from t
Slide 7: Increased trade of LPG
Increased trade of LPG LPG trade employment LPG Yearly grow th rate (right axis) 16 16 % 15 14 % 14 12 % 13 10 % 12 11 8% CbmM 10 6% 9 4% 8 2% 7 0% 6 5 -2 % 4 -4 % 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 CBM miles increase from 7.4 m to 11.2 m from 2005 to 2010 Tons carried
Slide 8: LPG Export Volumes
LPG Export Volumes M ajor Estimated Total LPG Export Volumes (M illion M T) 2002-2010 Country MT 2002 2003 2004 2005 2006 2007 2008 2009 2010 Total Middle East (Base Case) 18,56 21,92 25,97 26,50 27,53 30,54 34,53 39,30 41,96 Total Middle East (High Case) 18,56 21,92 25,97 26,50 27,53 30,54 35,03 40
Slide 9: LPG Macro Consumption Trends
LPG Macro Consumption Trends Increasing Urbanization and Rising Living Standards --> Rapid increase in consumption Japanese LPG consumption steady post-rapid development Average 22 years rapid growth, China should realize another decade China Urbanization: 20 Million/p.a., India: Further growth pote
Slide 10: StealthGas Business Strategy – Since IPO to Present Day
StealthGas Business Strategy – Since IPO to Present Day Business Strategy Implementation Triple Fleet by mid-2006 Expanded fleet to 24 vessels by end of Q1 2006 Acquired 4 additional vessels due for delivery by beginning of July 2006 expanding fleet to 28 vessels Moderate Leverage First Quarter 2006
Slide 11: Fleet Development
Fleet Development Grew fleet to 24 vessels by end of Q1 2006 Fleet to number 28 vessels by July 2006 StealthGas ranks #1 in owned vessels in 3,000 to 8,000 CBM segment 28 28 27 1 IPO 3 24 24 2 21 20 3 16 Established 27 12 24 Oct. 2004 22 18 8 4 9 9 5 4 0 Q4 2004 Q1 2005 Q2 2005 Q3 2005 Q4 2005 Q1 20
Slide 12: StealthGas Fleet
StealthGas Fleet Young and Modern Fleet Average age 10.5 years compared to industry average of 16 years Fleet Profile 23 Pressurized Vessels 105,205 cbm 5 Semi Refrigerated 15,320 cbm 28 Fleet Total 120,525 cbm Rank #1 in Owned Vessels in 3,000 to 8,000 CBM Segment 10% market share Option to Acquire
Slide 13: Fleet Employment Profile
Fleet Employment Profile Page 13 StealthGas Inc. © 2006
Slide 14: 1st Quarter 2006 Financial Highlights
1st Quarter 2006 Financial Highlights 1st Quarter Q1 Net Income $6.9 million, revenues of $16.9 million, EBITDA of $10.1 million EPS $0.50 – 14 million shares outstanding Cash balance of $12.4 million Conservative leverage: net debt to capitalization of 36.9% Completed acquisition of 1 identified an
Slide 15: 1st Quarter 2006 Income Statement
1st Quarter 2006 Income Statement In US$ 000, except per share amounts Q3 2005 Q4 2005 Q1 2006 Net Revenues $6,895 $12,810 $16,938 Operating Income 3,786 5,111 7,500 Net Income 3,624 4,536 6,959 EBITDA 5,093 7,181 10,160 0.50 EPS 0.60 0.33 Number of Shares 6,000,000 13,565,217 14,000.000 Note: The t
Slide 16: 1st Quarter 2006 Operating Highlights – Fleet Data & Daily Results
1st Quarter 2006 Operating Highlights – Fleet Data & Daily Results Fleet Data Q3 2005 Q4 2005 Q1 2006 Average number of vessels in fleet 9.0 15.1 22.4 Period end number of vessels in fleet 9.0 21.0 24.0 Total calendar days for fleet 828 1,387 2,019 Total voyage days for fleet 828 1,383 2,015 Fleet u
Slide 17: Daily Breakeven
Daily Breakeven Q1 2006 vs Q4 2005 Daily Cashflow and Net Income Breakeven Composition ($ per vessel per day) Q4 2005 fleet calendar days: 1,387 Q1 2006 fleet calendar days: 2,019 Q4 2005 Q1 2006 Expenses Cash Flow Net Income Cash Flow Net Income Operating $2,277 $2,277 $2,148 $2,148 General & Admin
Slide 18: Q1 2006 Balance Sheet and Adjustments
Q1 2006 Balance Sheet and Adjustments Pro forma and adjusted balance sheet does not include Q2 2006 and Q3 2006 cashflow from operations Mar 31, Mar 31, One Mar 31, 2006 (USD in 2006 Three 2006 Additional Pro-Forma millions) Actual Vessels Pro-Forma Vessel Adjusted Cash & Equivalents 12.4 (3.7) 8.7
Slide 19: Why Should You Invest in StealthGas Inc.?
WHY SHOULD YOU INVEST IN STEALTHGAS INC.? Dominant position in our sector with 10% market share Strong industry fundamentals with positive outlook for production and consumption LPG positive over the medium term Own and operate a young and modern fleet compared to industry Stable and predictable ear
Slide 20: Contacts
Contacts Company Contact: Visit our Website at: Andrew J. Simmons www.stealthgas.com Chief Financial Officer 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 Investor Relat