Singapore Exchange Ltd. · SGX:S68

Singapore Exchange — First Ship Lease Trust — Q1 FY2017 Earnings Presentation

11 slides from Singapore Exchange's earnings presentation, May 4, 2017

  1. Slide 1: FSL Trust 1QFY17 Financial Results

    F S L Tr u s t 1QFY17 Financial Results 4 May 2017

  2. Slide 2: 1QFY17 – Key financial highlights

    1QFY17 – Key financial highlights  Net profit improved to US$ 3.4m in 1Q17  Another quarter of positive cash generation  Revenue declined 17.7% year-on-year, primarily due to:  the reduced fleet portfolio  softening of rates across all sectors  the two Aframax tankers went into drydocking  Ge

  3. Slide 3: Performance review

    Performance review Inc/(Dec) US$’000 1QFY17 1QFY16 % Revenue 21,949 26,666 (17.7) Operating profit 5,556 9,089 (38.9) Profit for the quarter 3,447 2,270* 51.9 Net cash generated from operations 12,422 16,117 (22.9) Gearing ratio 43.3% 47.5% (8.8)  Revenue decrease mainly due to reduced fleet size a

  4. Slide 4: Fleet deployment by revenue

    Fleet deployment by revenue (1) Pool 16% Market-rate BBC Fixed-rate 14% BBC 46% Time charter 24% Note 1: BBCE revenue for the 3 months ended 31 March 2017 4

  5. Slide 5: Operational performance

    Operational performance BBCE revenue by vessel type 7.0 USD million -13.1% 6.0 5.0 4.0 -35.9% -27.6% -7.7% 3.0 -9.3% -36.4% 2.0 -33.4% 1.0 0.5 2.5 2.5 2.7 2.8 3.5 5.8 2.3 1.6 2.0 2.5 2.2 5.0 0.3 - Feeder container Specialised tanker Chemical tanker Aframax MR LR2 Panamax container * (1.0) Q1 2016 Q1

  6. Slide 6: Lease maturity of vessels

    Lease maturity of vessels SL TRUST Vessel Year build Se (OWT) 2017 2018, 2019 2020 2021 2022 Product Tankers | | Cumbrian Fisher 2004 2 Gye Fisher 2005 no Vesselson fixed-rate Shannon fisher 2006 52 bareboat charter Soluayrisher 20 eS Speciality (2006 4,426 Seniority 2006 4A26 rd Superiority 2007 4,

  7. Slide 7: Revenue backlog

    Revenue backlog Remaining contracted revenue stood at US$ 90m (1) as at 31 March 2017 US$ million 35 30 25 11 20 15 24 22 10 20 13 5 0 2017 2018 2019 2020-2021 Bareboat Charter Time charter Note 1: Based on revenue from ten bareboat charters (excluding the TORM charters on variable rates) and from t

  8. Slide 8: Scheduled Dry Docks for next 12 months

    Scheduled Scheduleddry dockings Dry Docksfor the fornext the12Next months 12 Months FSL managed fleet - Vessels planned for dry docking Vessel Date FSL Osaka 3Q FY2017 Latest dry dockings Vessel Date FSL Hong Kong 2Q FY2017 FSL Shanghai 2Q FY2017 8

  9. Slide 9: FY2017: Scheduled Redeliveries

    FY2017: Scheduled Redeliveries Vessel Date FSL Shanghai 3Q FY2017 FSL Hamburg 4Q FY2017 FSL Singapore 4Q FY2017 Cumbrian Fisher 4Q FY2017 Clyde Fisher 4Q FY2017  The Trust agreed to employ FSL Hong Kong in the Teekay Group RSA post dry-docking and have signed extension agreements for the continuing

  10. Slide 10: Summary and outlook

    Summary and outlook  Summary  Another quarter of positive cash generation despite the challenging shipping industry environment  Gearing reduced to 43.3% with the prepayment of US$ 20m in March 2017  Outlook  Shipping markets across all sectors remain under pressure in the near term, but the fi

  11. Slide 11: Thank You

    Thank You

First Ship Lease Trust — Q1 FY2017 Earnings Presentation on 6ix