Stealthgas, Inc. · NASDAQ:GASS
Stealthgas — Q4 2006 Earnings Presentation
15 slides from Stealthgas's earnings presentation, Feb 26, 2007
Slide 1: 4th Quarter & Twelve Months 2006 Results
StealthGas Inc. 4th Quarter & Twelve Months 2006 Results NASDAQ: “GASS” Earnings Presentation February 26, 2007
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: Business Strategy
Business Strategy Business Strategy Implementation Continued Expansion • Expanded fleet to 28 vessels by end of Q2 2006 • Expanded fleet to 29 vessels in Q1 2007 • Further New Building vessel to be delivered in October 2007 Moderate Leverage • Fourth Quarter 2006 net debt to capitalization: 41.2% Vi
Slide 4: Fleet Development
Fleet Development Grew fleet to 29 vessels in Q1 2007 Stealth Gas ranks #1 in owned vessels in 3,000 to 8,000 CBM segment 29 28 28 28 28 1 24 4 24 IPO 2 21 20 3 16 28 28 28 12 Established 24 22 Oct. 2004 18 8 4 9 9 5 4 0 Q4 2004 Q1 2005 Q2 2005 Q3 2005 Q4 2005 Q1 2006 Q2 2006 Q3 2006 Q4 2006 Q1 2007
Slide 5: Fleet Employment Profile
Fleet Employment Profile EARNINGS VISIBILITY 2007 2008 Q1 2007 Q2 2007 Q3 2007 Q4 2007 Q1 2008 Q2 2008 Q3 2008 Q4 2008 Vessel Charter Date/ Rate Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec **T/C @ 194,000 Gas Eternity then BB @ 118,850 28 31 30 31 30 3
Slide 6: 4th Quarter & Twelve Months 2006 Financial Highlights
4th Quarter & Twelve Months 2006 Financial Highlights 4th Quarter 2006 ¾ Q4 Net income of $4.8 million, revenues of $20.4 million, EBITDA of $10.2 million ¾ Q4 Net income of $4.8 million before non cash loss on interest rate swaps of $29 thousand ¾ EPS of $0.33 cents per share ($0.34 cents per share
Slide 7: 4th Quarter & Twelve Months 2006 Income Statement
4th Quarter & Twelve Months 2006 Income Statement In US$ 000, Twelve except per share Q1 2006 Q2 2006 Q3 2006 Q4 2006 Months 2006 amounts Net Revenues $16,938 $17,215 $18,682 $20,424 $73,259 Operating Income 7,500 5,542 5,812 6,889 25,743 Net Income 6,959 4,622 2,094 4,818 18,493 EBITDA 10,160 8,869
Slide 8: 4th Quarter & Twelve Months 2006 Operating Highlights
4th Quarter & Twelve Months 2006 Operating Highlights Fleet Data & Daily Results Fleet Data FY05 3Q06 4Q06 FY 2006 Average number of vessels in fleet 11.9 28.0 28.0 25.9 Period end number of vessels in fleet 21.0 28.0 28.0 28.0 Total calendar days for fleet 4,334 2,576 2,576 9,451 Total voyage days
Slide 9: Daily Breakeven
Daily Breakeven Q4 2006 vs Q3 2006 Daily Cashflow and Net Income Breakeven Composition ($ per vessel per day) Q3 2006 fleet calendar days: 2,576 Q4 2006 fleet calendar days: 2,576 Q3 2006 Q4 2006 Expenses Cash Flow Net Income Cash Flow Net Income Operating $1,927 $1,927 $2,113 $2,113 Management Fees
Slide 10: Financial Estimator
Financial Estimator ($ in millions) 30 Vessels 2007E Spot Voyage Days 2,541 Daily Spot Charter Rate - 4,250 cbm vessel ? Spot Revenue ? Period Charter Revenue (T/C and Bareboat) $56.1 Total Revenue ? Operating Expenses 27.8 SG&A 6.2 Commissions 2.5 Maintenance CapEx 0.5 Total Expenses 37.0 EBITDA ?
Slide 11: Reducing reliance upon third party managers
Reducing reliance upon third party managers June 30 2006 Septem ber 30, 2006 1 2 3 2 4 3 5 5 8 7 Stealth Maritime Tesma Sw an Hanseatic V Ships Stealth Maritime Tesma Sw an Hanseatic V Ships Year End 2006 February 23, 2007 1 2 5 0 1 7 9 7 5 5 Stealth Maritime Tesma Sw an Hanseatic V Ships Stealth Ma
Slide 12: LPGC freight rates
LPGC freight rates Average earnings in the spot market excluding waiting time / 1 yr TC rates Page 12 StealthGas Inc. © 2006
Slide 13: Charter Market Rate Indicator (12 Month TCs)
Charter Market Rate Indicator (12 Month TCs) Q4 2006 Average Current Q1 2007 Forecast 3,200 CBM S/R 289,615 300,000 320,000 3,500 CBM P/R 200,769 220,000 225,000 6,000 CBM S/R 430,000 450,000 450,000 15,000 CBM S/R 675,000 700,000 800,000 38,000 CBM 1,000,000 950,000 950,000 60,000 CBM 1,050,000 950
Slide 14: 3000-7999 cbm fleet development Vs. TC rates/earnings
3000-7999 cbm fleet development Vs. TC rates/earnings* * 1 yr TC rates are as of October. TCE figure is Jan-Oct average earnings in the spot market excluding waiting time Page 14 StealthGas Inc. © 2006
Slide 15: Contacts
Contacts Company Contact: Andrew J. Simmons Visit our Website at: Chief Financial Officer www.stealthgas.com StealthGas Inc. 011-30-210-6250-001 Weekly LPG Market Report E-mail: simmons@stealthgas.com updated every Monday www.stealthgas.com Comprehensive Investor Relations Information Investor Relat