Awilco Lng Asa · OSL:ALNG
Awilco Lng Asa — Q3 2024 Earnings Presentation
19 slides from Awilco Lng Asa's earnings presentation, Nov 14, 2024
Slide 1: Third quarter 2024
Third quarter 2024 November 14, 2024 www.awilcolng.no -1-
Slide 2: Disclaimer
Disclaimer This presentation may include certain forward-looking statements, forecasts, estimates, predictions, influences and projections regarding the intent, opinion, belief, various assumptions or current expectations of Awilco LNG (the “Company”) and it’s management with respect to, among other
Slide 3: Company overview
Company overview Awilco LNG is a fully integrated pure play LNG transportation provider, owning and operating LNG carriers. The Company currently own and operates two 2013-built 156,000 cbm TFDE LNG carriers, WilPride and WilForce, trading in the medium-term market. Awilco LNG is listed on Euronext
Slide 4: Agenda
Agenda November 14, 2024 1. Highlights 2. Financials third quarter 2024 3. Market update 4. Summary www.awilcolng.no -4-
Slide 5: Highlights
Highlights Awilco LNG report a net loss of USD 0.3 million and earnings per share of USD 0.00 in the third quarter 2024, down from a net result of USD 8.7 million and USD 0.07 per share in the second quarter 2024 Net freight income of USD 10.7 million in third quarter 2024, compared to USD 22.4
Slide 6: Agenda
Agenda November 14, 2024 1. Highlights 2. Financials third quarter 2024 3. Market update 4. Summary www.awilcolng.no -6-
Slide 7: Third quarter 2024 income statement
Third quarter 2024 income statement USD million Q3’24 Q2’24 Q3’23 2023 Freight income 12.0 22.8 15.6 80.7 Voyage related expenses (1.3) (0.4) (0.7) (1.3) Net freight income 10.7 22.4 14.9 79.4 Other income 0.0 0.0 0.0 5.0 Operating expenses (2.6) (2.8) (2.8) (11.3) Administration expenses (0.8) (0.8
Slide 8: Third quarter 2024 financial position
Third quarter 2024 financial position USD million 30.09.24 30.06.24 31.12.23 Vessels 306.0 309.9 317.3 Other fixed assets 0.6 0.6 0.5 Total non-current assets 306.6 310.5 317.8 Trade receivables 2.8 2.8 2.8 Other short term assets 3.9 5.3 2.2 Cash and cash equivalents 25.7 36.7 27.1 Total current as
Slide 9: Third quarter 2024 cash flow
Third quarter 2024 cash flow USD million Q3’24 Q2’24 Q3’ 23 2023 Cash Flows from Operating Activities: Profit/(loss) before taxes (0.3) 8.7 3.3. 38.3 Income taxes paid - - - - Interest and borrowing costs expensed 4.0 6.4 4.8 18.8 Depreciation, amortisation and impairment 3.9 3.9 3.2 12.9 Trade rece
Slide 10: Agenda
Agenda November 14, 2024 1. Highlights 2. Financials third quarter 2024 3. Market update 4. Summary www.awilcolng.no - 10 -
Slide 11: Spot rates
Spot rates USD/DAY 350,000 300,000 250,000 200,000 150,000 100,000 50,000 - WW spot rate ST WW spot rate TFDE Historic ave. spot rate ST Historic ave. spot rate TFDE • Rates seasonally started to increase at the start of third quarter but came to a halt and fell throughout the quarter. • Muted activ
Slide 12: LNG export and import
LNG export and import Q3 2024 vs Q3 2023 (YoY change) Russia North America and Caribbean Africa Middle East and Gulf South America Europe Asia and Oceania -6 -4 -2 0 2 4 6 8 Import (in MT) Export (in MT) • European import continue to decrease year over year for the quarter due to muted demand • Incr
Slide 13: Gas prices
Gas prices USD/MMBTU 100 90 80 70 60 50 40 30 20 10 0 01/2020 04/2020 07/2020 10/2020 01/2021 04/2021 07/2021 10/2021 01/2022 04/2022 07/2022 10/2022 01/2023 04/2023 07/2023 10/2023 01/2024 04/2024 07/2024 10/2024 01/2025 04/2025 07/2025 10/2025 US (HH) Asia (JKM) Europe (TTF) • Gas prices surprisin
Slide 14: Trainspotting – new LNG production
Trainspotting – new LNG production 800 MTPA 750 MTPA 700 650 600 550 500 450 400 350 2024 2025 2026 2027 2028 2029 2030 Total capasity (RHS) • ~ 355 MTPA new capacity currently under construction or under development, of which ~200 MTPA have FID • of the ~355 MTPA ~110 MTPA have been delayed by temp
Slide 15: LNG fleet and orderbook
LNG fleet and orderbook NO. VESSELS TOTAL FLEET 1200 100 1000 80 800 60 600 40 400 20 200 0 0 Fixed (LHS) Available (LHS) Delivered (LHS) Total fleet (RHS) • Orderbook for LNGC stands at 334 (excluding 11 Arc-7) of which only 21 are unfixed • Contract prices, interest tates and charter rates are all
Slide 16: Agenda
Agenda November 14, 2024 1. Highlights 2. Financials third quarter 2024 3. Market update 4. Summary www.awilcolng.no - 16 -
Slide 17: Summary
Summary The Company report a loss for the quarter of USD 0.3 million WilForce trading in a challenging spot market The Board of Directors decided to stop further dividends until more visibility on earnings Mid- and long-term demand for LNG transportation remains strong ─ Disruptions in trade
Slide 18: A Fully Integrated Pure Play LNG Transportation Provider
A Fully Integrated Pure Play LNG Transportation Provider Two 2013 built TFDEs Tier 1 customers Solid owners Experienced Opportunistic strategy management team www.awilcolng.no - 18 -
Slide 19: Contact details
Jon Skule Storheill CEO Mobile: +47 913 44 356 E-mail: jss@awilcolng.no Per Heiberg CFO Mobile: +47 952 20 264 E-mail: pheiberg@awilcolng.no www.awilcolng.no - 19 -