Tsakos Energy Navigation Ltd · NYSE:TEN
Tsakos Energy Navigation — Q4 2021 Earnings Presentation
14 slides from Tsakos Energy Navigation's earnings presentation, Apr 14, 2022
Slide 1: TEN LTD Q4 & YE 2021 Earnings Presentation
TEN LTD Q4 & YE 2021 Earnings Presentation April 14, 2022
Slide 2: Forward-looking statements
This presentation may contain forward-looking statements that are not based on historical fact, including without limitation, statements containing the words “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions. Because these forward-looking statemen
Slide 3: Crisis-Resistant Growth Model Spanning Four Decades
Crisis-Resistant Growth Model Spanning Four Decades _______________________________________________________________ Covid Ukrainian Far East Crisis 9/11 Crisis Credit Crisis Crisis Crisis 9 8 7 6 Million (dwt) 5 4 3 2 1 0 3
Slide 4: Diversified Fleet - Secured Revenues – Market Upside – Greenship Growth
Diversified Fleet - Secured Revenues – Market Upside – Greenship Growth _______________________________________________________________ CRUDE TANKERS COATED/CLEAN TANKERS Dwt Built Yard Hull Ice Class/Other Dwt Built Yard Hull Ice Class/Other VLCC 1 Hercules 300,000 2017 South Korean DH 36 TBN 115,0
Slide 5: Timely Acquisitions => Low 2021 B/E rates
Timely Acquisitions => Low 2021 B/E rates (B/E after OpEx, G&A, Interest and Depreciation) _______________________________________________________________ 2 VLCC $375,000,000 $25,805 $350,000,000 Spot 14 SUEZMAX $22,907 $325,000,000 $300,000,000 9 (3) AFRAMAX $17,578 $275,000,000 AFRAMAX $250,000,00
Slide 6: Reducing Bank Debt an Integral Part of Strategy
Reducing Bank Debt an Integral Part of Strategy _______________________________________________________________ $1,800 $1,753 $1,751 $1,750 -$2 $1,700 $1,650 $1,595 $1,600 In millions -$156 $1,534 $1,550 $1,500 $1,500 -$61 $1,450 -$34 $1,400 $1,373 $1,350 -$127 $1,300 2016 2017 2018 2019 2020 2021 ❑
Slide 7: Healthy Dividends Through Market Cyclicality and Growth
Healthy Dividends Through Market Cyclicality and Growth _______________________________________________________________ ❑ Common Stock Dividend Continuity – Management aims on semi-annual dividend distributions ❑ TEN has always paid a dividend reflective of market irrespective of cyclicality; About
Slide 8: Global Demand on the Rebound
Global Demand on the Rebound _______________________________________________________________ BARRELS OF OIL PER CAPITA PER ANNUM (Source: BP Statistical Review of World Energy June 2021) ❑ Strong potential of China and India with a combined 25 population of 2.5 billion in a world of 7.0 billion. The
Slide 9: Historical Low NB Orderbook vs. Fleet Over Years Old
Historical Low NB Orderbook vs. Fleet Over 15 Years Old _______________________________________________________________ ❑ Total NB Orderbook of 285 tankers to join the fleet over the next three years vs. 1,556 vessels over 15 years that are expected to depart the competitive fleet in the same timefr
Slide 10: Scrapping Healthy Due to Environmental Regulations and Strong Prices/Ldt
Scrapping Healthy Due to Environmental Regulations and Strong Prices/Ldt _______________________________________________________________ ❑ Upcoming regulations and discussions for alternative propulsion fuels should further propel scrapping activity ❑ In 2018 181 vessels were scrapped of 22.0m dwt ❑
Slide 11: Financial Highlights
Financial Highlights Three months ended Year ended December 31 (unaudited) December 31 (unaudited) STATEMENT OF OPERATIONS DATA 2021 2020 2021 2020 Voyage revenues $ 139,129 $ 131,632 $ 546,120 $ 644,135 Voyage expenses 49,098 39,905 198,078 145,267 Charter hire expense 8,806 5,569 30,056 21,602 Ves
Slide 12: Financial Highlights (cont.)
Financial Highlights (cont.) Three months ended Year ended OTHER FINANCIAL DATA December 31 December 31 2021 2020 2021 2020 Net cash from operating activities $ 17,905 $ 18,234 $ 53,111 $ 205,416 Net cash (used in) provided by investing activities $ (26,678) $ (24,337) $ (8,004) $ (94,613) Net cash
Slide 13: STAY SAFE – STAY HEALTHY
To all our seafarers, onshore colleagues and friends a BIG THANK YOU for all your help and support during these extraordinary times STAY SAFE – STAY HEALTHY Tsakos Energy Navigation, Ltd – 367 Syngrou Av. , Athens 175 64, Greece Tel: +30210 940 7710, Fax: +30210 940 7716 email: ten@tenn.gr
Slide 14: Tsakos Energy Navigation, Ltd
TSAKOS ENERGY NAVIGATION, LTD For more information please contact: Paul Durham: Chief Financial Officer pdurham@tenn.gr George Saroglou: Chief Operating Officer gsaroglou@tenn.gr Harrys Kosmatos: Corporate Development Officer hkosmatos@tenn.gr Tsakos Energy Navigation, Ltd 367 Syngrou Avenue Athens
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