Awilco Lng Asa · OSL:ALNG
Awilco Lng Asa — Q3 2021 Earnings Presentation
19 slides from Awilco Lng Asa's earnings presentation, Nov 26, 2021
Slide 1: Third quarter 2021
Third quarter 2021 November 26, 2021 www.awilcolng.no -1-
Slide 2: Disclaimer
Disclaimer This presentation may include certain forward-looking statements, forecasts, estimates, predictions, influences and projections regarding the intent, opinion, belief, various assumptions or current expectations of Awilco LNG (the “Company”) and it’s management with respect to, among other
Slide 3: Company overview
Company overview Awilco LNG is a fully integrated pure play LNG transportation provider, owning and operating LNG carriers. The Company owns and operates two 2013-built 156,000 cbm TFDE LNG carriers, WilPride and WilForce, trading in the medium term and spot market. Awilco LNG is listed on Euronext
Slide 4: Agenda
Agenda November 26, 2021 1. Highlights 2. Financials third quarter 2021 3. Market update 4. Summary www.awilcolng.no -4-
Slide 5: Highlights
Highlights Awilco LNG achieved a net result of USD 5.1 million and earnings per share of USD 0.04 for third quarter, up from a net result of USD 3.3 million and earnings per share of USD 0.02 in second quarter 2021. Net freight income was USD 14.3 million in third quarter 2021,up from USD 12.1 m
Slide 6: Agenda
Agenda November 26, 2021 1. Highlights 2. Financials third quarter 2021 3. Market update 4. Summary www.awilcolng.no -6-
Slide 7: Third quarter 2021 income statement
Third quarter 2021 income statement USD million Q3’21 Q2’21 2020 Freight income 14.7 12.7 35.6 Voyage related expenses (0.3) (0.6) (5.0) Net freight income 14.3 12.1 30.7 Other income - - (0.6) Operating expenses (2.7) (2.4) (8.9) Administration expenses (0.8) (0.7) (3.0) EBITDA 10.8 9.0 18.1 Deprec
Slide 8: Third quarter 2021 financial position
Third quarter 2021 financial position USD million 30.09.21 30.06.21 31.12.20 Vessels 330.0 333.1 338.3 Other fixed assets 0.7 0.7 0.7 Total non-current assets 330.7 336.3 339.0 Trade receivables 1.0 2.7 0.1 Other short term assets 0.5 0.8 0.9 Cash and cash equivalents 23.1 17.1 12.6 Total current as
Slide 9: Third quarter 2021 cash flow
Third quarter 2021 cash flow USD million Q3’21 Q2’21 2020 Cash Flows from Operating Activities: Profit/(loss) before taxes 5.1 3.3 (7.9) Income taxes paid - - - Interest and borrowing costs expensed 2.5 2.6 13.2 Depreciation, amortisation and impairment 3.2 3.1 12.5 Trade receivables, inventory and
Slide 10: Agenda
Agenda November 26, 2021 1. Highlights 2. Financials third quarter 2021 3. Market update 4. Summary www.awilcolng.no - 10 -
Slide 11: Spot rates
Spot rates USD/DAY 250 000 200 000 150 000 100 000 50 000 - WW spot rate ST WW spot rate TFDE Historic ave. spot rate ST Historic ave. spot rate TFDE • Following a short-lived seasonal weakness in March/April the market recovered over the summer and has shot to historical heights over the last weeks
Slide 12: LNG export and import
LNG export and import 2021 Q3 vs 2020 Q3 (YoY change) West Africa Russia North America North Africa Middle East and Gulf Latin America Europe Asia -4 -2 0 2 4 Import (in MT) Export (in MT) • Third quarter was a period with strong growth for LNG export but is still below the potential growth after ad
Slide 13: Gas prices
Gas prices USD/MMBTU 50 40 30 20 10 0 01.201803.201805.201807.201809.201811.201801.201903.201905.201907.201909.201911.201901.202003.202005.202007.202009.202011.202001.202103.202105.202107.202109.202111.202101.202203.202205.202207.202209.202211.2022 US (HH) Asia (JKM) Europe (TTF) • Lack of pipeline
Slide 14: Trainspotting
Trainspotting MTPA LNG TRAINS UNDER CONSTRUCTION MTPA 12 160 10 140 120 8 100 6 80 4 60 40 2 20 0 0 Started 2021 2022 2023 2024 2025 2026 2027 2028 Total (RHS) • ~ 135 MTPA new capacity currently under construction • Further FIDs needed to meet expected demand from 2025 • More than 800 MTPA of new l
Slide 15: LNG fleet and orderbook
LNG fleet and orderbook NO. VESSELS TOTAL FLEET 800 50 700 40 600 500 30 400 20 300 200 10 100 0 0 Fixed (LHS) Fixed Arc7s (LHS) Available (LHS) Delivered (LHS) Total fleet (RHS) • Newbuilding deliveries set to slow down in 2022 and 2023 compared to 2021 to support a strong market for the next years
Slide 16: Agenda
Agenda November 26, 2021 1. Highlights 2. Financials third quarter 2021 3. Market update 4. Summary www.awilcolng.no - 16 -
Slide 17: Summary
Summary High gas prices due to strong demand, both from Europe and Asia support very high freight rates in the spot market Strong spot market support strength in demand for multi-month TC contracts and 1-year TC rates for TFDE vessels are well above USD 100,000 pd Mid- and long-term demand for
Slide 18: A Fully Integrated Pure Play LNG Transportation Provider
A Fully Integrated Pure Play LNG Transportation Provider Two 2013 built TFDEs Tier 1 customers Solid owners Experienced Opportunistic strategy management team www.awilcolng.no - 18 -
Slide 19: Jon Skule Storheill, CEO; Per Heiberg, CFO
Jon Skule Storheill CEO Mobile: +47 913 44 356 E-mail: jss@awilcolng.no Per Heiberg CFO Mobile: +47 952 20 264 E-mail: pheiberg@awilcolng.no www.awilcolng.no - 19 -