Dynagas Lng Partners Lp · NYSE:DLNG
Dynagas Lng Partners Lp — Q4 2023 Earnings Presentation
13 slides from Dynagas Lng Partners Lp's earnings presentation, Mar 28, 2024
Slide 1: Q4 2023 Financial Results Presentation
Q4 2023 Financial Results Presentation 28 March, 2024
Slide 2: Forward Looking Statements and Disclaimer
Forward Looking Statements and Disclaimer This presentation contains certain statements that may be deemed to be “forward-looking statements” within the meaning of applicable federal securities laws. All statements included in this presentation which are not historical or current facts (including ou
Slide 3: Forward Looking Statements and Disclaimer
Forward Looking Statements and Disclaimer borrowings and to access debt and equity markets; planned capital expenditures and availability of capital resources to fund capital expenditures; our ability to maintain long-term relationships with major LNG traders; our ability to leverage our Sponsor’s r
Slide 4: Recent Developments
Recent Developments Fourth Quarter 2023 Highlights Net income of $10.5 million and Earnings per common unit (basic and diluted) of $0.21; Adjusted Net Income (1) of $10.3 million and Adjusted Earnings (1) per common unit (basic and diluted) of $0.20; Adjusted EBITDA(1) of $27.4 million; 100% fleet u
Slide 5: Financial Performance
Financial Performance Stable Operating and Financial Performance Revenues ($m) Adjusted EBITDA ($m) Adjusted Net Income ($m) 40.0 30.0 14.0 35.0 12.0 25.0 30.0 10.0 20.0 25.0 8.0 20.0 15.0 6.0 15.0 10.0 4.0 10.0 5.0 5.0 2.0 0.0 0.0 0.0 q2 21 q3 21 q4 21 q1 21 q2 22 q3 22 q4 22 q1 22 q2 23 q3 23 q4 2
Slide 6: Financial Summary
Financial Summary Credit Metrics Quarterly Financials Capital Structure 3.7x $37.0 million Q4 2023 Net Debt to LTM EBITDA ($) millions Q4 2023 voyage revenues 40% $20.2 million Q4 2023 Net Debt to Total Book Q4 2023 operating cash flow Cap $65,772 per day $73.8 million Q4 2023 time charter equivalen
Slide 7: Highlights
Highlights Q4 2023 Change in Cash Balance (USD thousands) $100,000 $27,399 $90,000 -$2,809 $2,881 $80,000 -$8,615 -$1,480 $6,356 $73,752 $70,000 -$12,000 $64,911 -$2,891 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 23 A EX ns e es e… nt ns eed s 23 0/20 BITD CAP xpe ang r anc y me rib utio r o
Slide 8: Fleet Profile
Fleet Profile Fleet n 6 LNG carriers Total cbm capacity n 914,100 cbm (149,700 cbm for steam turbine LNG fleet, 155,000 cbm for the tri-fuel diesel engine LNG fleet (TFDE’s)) Fleet average age n ~13.6 years(1) Average remaining charter n ~6.9 years(1)(2) duration n Equinor (Norway), SEFE Marketing &
Slide 9: Fleet Employment Overview
Fleet Employment Overview Size Charterer 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Clean Energy 150,000 SEFE (Singapore) Rio Grande LNG Ob River 150,000 SEFE (Singapore) Amur River 150,000 SEFE (Singapore) Yenisei River 155,000 Yamal LNG (Singapore) 5+5+5 yrs Lena River 155,00
Slide 10: Partnership Highlights
Partnership Highlights Current Status Strategic Objectives Since September 2019: Strengthen § Repaid $254.4m in debt(1) Long-term, high-quality contracts with major § Decreased Net Leverage from 6.6x to 3.7x(2) LNG companies Balance Sheet § Organically increased book equity value by 44% to $448m (2)
Slide 11: Appendix
= ao} = 7 2. 2. <x
Slide 12: Reconciliation of Net Income to adjusted Net Income and Adjusted Earnings per Common Unit
Reconciliation of Net Income to adjusted Net Income and Adjusted Earnings per Common Unit Three Months Ended December 31, Year Ended December 31, (In thousands of U.S. dollars except for units and per unit data) 2023 2022 2023 2022 Net Income $ 10,462 $ 11,618 $ 35,872 $ 54,010 Amortization of defer
Slide 13: Reconciliation of Net income to Adjusted EBITDA
Reconciliation of Net income to Adjusted EBITDA Three Months Ended December 31, Year Ended December 31, (In thousands of U.S. dollars) 2023 2022 2023 2022 Net income $ 10,462 $ 11,618 $ 35,872 $ 54,010 Net interest and finance costs (1) 9,012 8,603 36,617 27,082 Depreciation 8,082 8,040 31,946 31,80