Imperial Petroleum Inc. · NASDAQ:IMPP
Imperial Petroleum — Q3 2024 Earnings Presentation
10 slides from Imperial Petroleum's earnings presentation, Dec 2, 2024
Slide 1: Q3 & 9M 2024 Financial & Operating Results
Q3 & 9M 2024 Financial & Operating Results December 2, 2024
Slide 2: Disclaimer
Disclaimer 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 historical fact may be deeme
Slide 3: Key Highlights
Key Highlights Operations & Growth ❑ Fleet operational utilization utilization of 65.6% in Q3 24’ versus 70.5% in Q3 23’. ❑ Increased idle time mainly due to the drydocking of a product tanker and the minor incident of another product tanker which remained idle for the whole of the quarter. ❑ Reduce
Slide 4: Fleet Employment Status
Fleet Employment Status ❑ Almost half of our fleet is currently under time charter employment. ❑ As customarily our three handysize drybulk vessels are employed on short TCs, while two of our MR tankers are under time charters up until January 2025 and August 2027. Charter End Date 2024 2025 2026- A
Slide 5: Tanker Market: 2025 Oil Supply and Demand Changes
Tanker Market 2025 Oil Supply and Demand Changes ❑ After the strong market witnessed in the 1H 24’ tanker rates have slipped since 2.4 the start of the third quarter due to seasonal factors. 2024 Y/Y change, mbpd ❑ Indeed, global oil demand growth slowed in the third quarter relative to Q2 24’ 1.9 1
Slide 6: Tanker Market and Drybulk Market
Tanker Market ❑ The tanker fleet is seeing a record low growth rate in 2024 with escalating deliveries expected in 2025 and 2026. ❑ It is worth noting that newbuilding additions in the coming years are less than the long run average growth rate of about 6.5%. ❑ Both MRs and Suezmax tankers have an a
Slide 7: Financial Results Q3 24' & 9M 24'
Financial Results Q3 24’ & 9M 24’ Q2 Q3 9M 9M Income Statement Q3 24’ (Amounts in USD'000s) 2023 2024 2023 2024 ❑ Revenues came in at $33 million in Q3 24’ compared to Voyage revenues 29,379 33,023 153,844 121,268 $29.4 million, a 12.2% increase compared to Q3 23’ due to Voyage costs (12,565) (12,97
Slide 8: Financial Results Q3 24' & 9M 24' - Balance Sheet
Financial Results Q3 24’ & 9M 24’ Balance Sheet (Amounts in $'000s) 12M 2023 9M 2024 ❑ Free cash (incl. time deposits) as of September 30, 2024 of c. $200 Assets Cash & cash equivalents 91,928 167,149 million. Time deposits 32,100 32,021 Receivables from related party 37,907 12,489 ❑ The majority of
Slide 9: Financial Snapshot
Financial Snapshot Liquidity and Gearing Profitability, Growth and Values Considerations Going Forward c.$200 million of Escalation or c. $22,000 TCE in cash as of unwinding of Q3 24’ per fleet September 30, geopolitical voyage day 2024 pressures c. $9,000 How will the US c.$68 million of elections
Slide 10: Investment Highlights
Investment Highlights 1 Own a high-quality fleet of crude oil, product tankers and dry bulk carriers 2 Giving value back to shareholders through timely share buybacks and warrant repurchases 3 Active employment of vessels based on charter market developments 4 Debt free company with minimum capital