Navios Maritime Holdings Inc Perp Pfd Shs Sp Amer Dep Recpt Level 3 Repr 1/100th Perp Pfd Shs Ser G · OTC:NMPGY
Navios Maritime Holdings Inc Perp Pfd Shs Sp Amer Dep Recpt Level 3 Repr 1/100th Perp Pfd Shs Ser G — Navios Maritime Holdings — Q1 2021 Earnings Presentation
34 slides from Navios Maritime Holdings Inc Perp Pfd Shs Sp Amer Dep Recpt Level 3 Repr 1/100th Perp Pfd Shs Ser G's earnings presentation, May 27, 2021
Slide 1: Navios Maritime Holdings Inc. Q1 2021 Earnings Presentation
Navios Maritime Holdings Inc. Q1 2021 Earnings Presentation May 27, 2021
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation and our earnings call contain and will contain forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including our abi
Slide 3: Navios Structure
Navios Structure Navios Maritime Holdings Inc. NYSE: NM 43(1) Drybulk Vessels 4.8 million DWT Average Age: 8.3 years 15 Capesize 23 Panamax 5 Ultra-Handymax/Handysize 11.0% 29.1% 63.8% Navios Maritime Acquisition Navios South American Navios Maritime Partners L.P. Corporation Logistics Inc. NYSE: NM
Slide 4: Strength through Diversification
Strength through Diversification ▪ Leading integrated infrastructure & logistics company in the Hidrovia region Navios South American ▪ 60% net debt to book capitalization: Q1 2021 (IFRS) Logistics Inc. ▪ Credit ratings: B-/S&P, B3/Moody’s ▪ Bond trading at a yield to worst of 6.6% (2) ▪ Top-10 publ
Slide 5: World GDP Growth: Highest in 50 years
World GDP Growth: Highest in 50 years 2021 GDP Growth expected to be highest since 1973 In % World GDP Growth 6.5 6.0 5.7 5.3 4.5 4.6 4.3 4.4 4.4 4.4 4.3 4.3 4.1 3.9 3.9 3.9 3.9 3.7 3.7 3.7 3.4 3.4 3.5 3.3 3.2 3.1 2.9 3.0 3.0 3.0 3.0 2.9 2.9 2.6 2.7 2.6 2.4 2.5 2.4 2.2 2.0 1.9 1.9 2.0 1.8 1.9 1.4 1.
Slide 6: Recent Developments
Recent Developments Q1 Financial Results: Revenue(1) Adjusted $117.0 million $48.6 million EBITDA(1) Q1 TCE per day achieved: Capesize Panamax Ultra $17,864 $13,091 $11,500 Handymax Vessel Sales ▪ $65.1 million proceeds from vessel sales year-to-date • $39.3 million sale of two vessels ‒ Navios Avio
Slide 7: 9M 2021E: Operating Cash Flow
9M 2021E: Operating Cash Flow ▪ 11,443 available days – 4,029 days (35.2%) fixed – 7,414 open / index days (64.8%) ▪ Chartering strategy positioning for market upside Significant potential free cash 9M 2021 $29,014 $17,370 Current average market rates (2) Operating weighted on NM’s breakeven per ope
Slide 8: Liquidity Position
Liquidity Position ($ million) ($ million) Debt Maturity(4) March 31, 2021 1,000 Cash (1) 60.1 800 7.0 Debt (3) 1,559.0 305.0 600 Shareholders' Equity (2) (32.8) 400 (5) 500.0 Capitalization (2) 1,526.2 200 476.8 Net Debt / Capitalization 98.2% 32.4 8.6 0 1.5 2021 2022 2023 2024 2025+ NM Mortgage No
Slide 9: Q1 2021 Earnings Highlights
Q1 2021 Earnings Highlights Earnings Highlights Three Months Ended Three Months Ended ($ ‘000 except per share data) March 31, 2021 March 31, 2020 Revenue 116,951 91,083 EBITDA 54,592 (772) Adjusted EBITDA 48,599(1) 28,748 (2) Net Income / (Loss) 163 (53,275) Adjusted Net Loss (5,830)(1) (23,755) (2
Slide 10: NM Balance Sheet
NM Balance Sheet Selected Balance Sheet Data (in $'000) March 31, 2021 December 31, 2020 Cash & cash equivalents (incl. restricted cash) 60,083 111,184 Other current and non current assets 544,911 492,640 Operating lease asset 211,392 227,962 Vessels, port terminal and other fixed assets, net 1,082,
Slide 11: Navios Partners Ownership Structure
Navios Partners Ownership Structure General Partner Navios Maritime Holdings Inc. Common Unitholders 2% Interest 11% Limited Partner Interests 87% Limited Partner Interests Navios Maritime Partners LLP NYSE: NMM 89 Vessels 51 Dry Bulk Vessels 38 Containerships 6.0 million dwt 186,246 TEU 20 Capesize
Slide 12: NNA Ownership Structure
NNA Ownership Structure Navios Maritime Holdings Inc. Public Shareholders NYSE: NM 29.1% Interest 70.9% Interest Navios Maritime Acquisition Corp. NYSE: NNA 45 Vessels (consolidated)(1) 20 Vessels 12 VLCCs, 4 MR2 Product Tankers, 2 MR1 Product Tankers, 2 Chemical Tankers 100% ownership unrestricted
Slide 13: Navios South American Logistics Overview
Navios South American Logistics Overview Navios Maritime Holdings Inc. Peers Business Inc. ✓Leading integrated (NYSE: NM) infrastructure & logistics company in Owns: 63.8% Owns: 36.2% the Hidrovia region ✓Strategically located port infrastructure, with Navios South American Logistics unique capabili
Slide 14: Navios Logistics Q1 2021 Earnings Highlights – IFRS
Navios Logistics Q1 2021 Earnings Highlights – IFRS Three month ended Three month ended P-O-P (in $ ‘000) March 31, 2021 March 31, 2020 Variance Revenue 53,036 56,554 (6%) Navios Logistics EBITDA 23,611 22,463 5% Profit 2,507 6,914 (64%) Revenue 24,772 26,347 (6%) Port Terminals EBITDA 17,833 13,811
Slide 15: Navios Logistics Balance Sheet – IFRS
Navios Logistics Balance Sheet – IFRS Selected Balance Sheet Data ($'000) March 31, 2021 December 31, 2020 Cash and cash equivalents $40,305 $74,870 Trade receivables 36,184 34,190 Assets under construction 35,190 20,886 Tangible assets 536,332 520,811 Total Assets $915,365 $912,523 Non-current inte
Slide 16: One of the Largest US-listed Dry Bulk Fleets
One of the Largest US-listed Dry Bulk Fleets Navios Holdings Controls 43 (1) Vessels On The Water (4.8 million DWT) Average Age: 8.3 years 15 Capesize 23 Panamax 4 Ultra 1 Handysize Handymax 13 Vessels 12 Vessels 3 Vessels - Vessel 28 Owned (4) 2.32 million DWT 0.96 million DWT 0.17 million DWT - mi
Slide 17: ESG – Sustainability through Sea Trade
ESG – Sustainability through Sea Trade Transoceanic shipping is the most carbon efficient mode of transport ▪ Shipping represents: ▪ ~ 90% of world trade ▪ ~ 3% of man-made greenhouse gas emissions ▪ Net zero will safeguard air and water quality and avoid negative ecological impacts Aspirational Goa
Slide 18: Industry Overview
Industry Overview
Slide 19: World Dry Bulk Trade and GDP Growth
World Dry Bulk Trade - 1.7% World GDP - 3.2% (111) MT Dry Bulk trade - 3.3% - 1.5% (81) MT 6 26% Billion tons World Seaborne Dry Bulk Trade China admitted to 22% 5 World GDP Growth (RHS) the WTO 18% 4 Berlin wall falls 14% 3 10% 6% 2 2% 1 -2% 0 -6% IMF GDP Growth (%) 2020 2021 2022 World GDP January
Slide 20: Dry Bulk Demand Up – Minimal Supply Growth
Dry Bulk Demand Up – Minimal Supply Growth Higher trade growth in 2021 vs 2020 Demand vs Net fleet growth 2020 - 2021 MT 2020 2021 Demand Net Fleet Growth +49 MT 1,552 +55 MT +3.3% +4.7% +12 MT 1,221 +2.3% 3.1% 1,1 3.7% 3.8% 66 1,503 512 524 -1.5% Grains Coal Iron ore 2020 2021 2020 2021 ◼ Demand fo
Slide 21: Post Pandemic Growth Fueled by Iron Ore
Post Pandemic Growth Fueled by Iron Ore World Seaborne Iron Ore Trade 2020-2021F(1) Chinese Seaborne Iron Ore Imports(1) 1,400 Million tons 2020 2021F YoY% Δ MT 1,200 2008 – 2020 CAGR = 8% 1,000 Total World Trade 1,503 1,552 3.3% 49 800 Of which: 600 400 Australia 867 881 1.6% 14 200 Brazil 340 373
Slide 22: Asian Coal Imports to Rebound in 2021
Asian Coal Imports to Rebound in 2021 ◼ Asian coal(1) imports grew 4.1% CAGR 2011 to 2020; and are expected to grow by 3.8% in 2021 after decreasing 6.3% in 2020 ◼ The 2020 decrease was mainly attributed to India shrinking imports 11% and China’s 8% decrease ◼ Indian imports accounted for 22% of tot
Slide 23: Food Security Drives Demand for Grain
Food Security Drives Demand for Grain Seaborne Grain Trade Seaborne Grain Exports 2020-21 600 Million tons 2020 P YoY% Δ MT 2021 F YoY% Δ MT 2008 – 2020 CAGR = 5.0% (million tons) Total World Trade 511.7 7.0% 33.6 524.3 2.5% 12.6 500 Of which: US 131.5 25.0% 26.3 147.8 12.4% 16.3 Canada 32.0 11.5% 3
Slide 24: Dry Bulk Orderbook for 2021 and Beyond
Dry Bulk Orderbook for 2021 and Beyond MDWT # Vessels Actual Projected Non-Delivery % Actual Projected Non-Delivery % 2021 Apr YTD 15.1 17.3 13% 162 185 12% 2020 48.9 55.6 12% 489 567 14% 2019 41.6 42.4 2% 443 443 0% 2018 28.5 34.3 17% 301 373 19% 2017 38.5 58.1 34% 463 737 38% 2016 47.3 92.7 49% 56
Slide 25: Dry Bulk Net Fleet, Age Profile + Historical Scrapping
Dry Bulk Net Fleet, Age Profile + Historical Scrapping Deliveries Removals Net Fleet Growth Year Actual Projected % non-delivery Year DWT % of fleet Year DWT % of Fleet Fleet period end 2021 YTD 15.1 M 17.3 M 13% 2021* 4.5 M 0.5% 2021(1) 11.4 M 1.3% 923.5 M 2020 48.9 M 55.6 M 12% 2020 15.8 M 1.8% 20
Slide 26: www.navios.com
www.navios.com
Slide 27: Appendix: Navios Holdings Fleet
Appendix: Navios Holdings Fleet
Slide 28: Appendix: Core Fleet – Ultra Handymax
Appendix: Core Fleet Owned Fleet: Ultra Handymax Vessels Type Built DWT Charter Rate ($) (1) Expiration Date (2) Index Navios Serenity (3) Handysize 2011 34,690 7,790 06/2021 No 100% of average Baltic Navios Ulysses Ultra Handymax 2007 55,728 — 10/2021 Supramax 58 10TC Index Routes Navios Celestial
Slide 29: Appendix: Core Fleet – Panamax
Appendix: Core Fleet Owned Fleet: Panamax Vessels Type Built DWT Charter Rate ($) (1) Expiration Date (2) Index 11,743 06/2021 No Navios Taurus Panamax 2005 76,596 — 07/2021 Yes(3) 10,010 06/2021 No Navios Asteriks Panamax 2005 76,801 — 12/2021 Yes(3) 9,625 12/2021 No N Amalthia Panamax 2006 75,318
Slide 30: Appendix: Core Fleet – Capesize
Appendix: Core Fleet Owned Fleet: Capesize Vessels Type Built DWT Charter Rate ($) (1) Expiration Date (2) Index Navios Stellar Capesize 2009 169,001 — 01/2022 95.75% of average Baltic Capesize 5TC Index Routes Navios Bonavis Capesize 2009 180,022 — 09/2021 102.5% of average Baltic Capesize 5TC Inde
Slide 31: Appendix: Core Fleet – Long-Term Chartered-In
Appendix: Core Fleet Long-Term Chartered-In Fleet Vessels Type Built DWT Charter Rate ($)(1) Expiration Date (2) Purchase Option (3) Index Navios Lyra Handysize 2012 34,718 8,788 11/2021 Yes (4) No 110% of average Baltic Supramax 58 Navios Venus Ultra Handymax 2015 61,339 — 09/2021 Yes 10TC Index Ro
Slide 32: Appendix: Core Fleet – Chartered-In (continued)
Appendix: Core Fleet Long-Term Chartered-In Fleet (continued) Vessels Type Built DWT Charter Rate ($) (1) Expiration Date (2) Purchase Option (3) Index No 19,413 06/2021 Navios Dolphin Panamax 2017 81,630 Yes 122% of average Baltic Panamax 4TC — 12/2022 Index Routes Mont Blanc Hawk Panamax 2017 81,6
Slide 33: Appendix: Core Fleet – Bareboat-in Vessels
Appendix: Core Fleet Bareboat-in Vessels Vessels Type Built DWT Charter Rate ($) (1) Expiration Date (2) Purchase Option (3) Index No Navios Herakles I Panamax 24,063 06/2021 2019 82,036 Yes 125% of average Baltic Panamax 4TC — 10/2021 Index Routes Navios Uranus Panamax 2019 81,516 12,588 11/2021 Ye
Slide 34: www.navios.com
Containership Sector | Clarkson Research www.navios.com www.clarksons.com
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