Pangaea Logistics Solutions Ltd. · NASDAQ:PANL
Pangaea Logistics Solutions — Q2 2017 Earnings Presentation
8 slides from Pangaea Logistics Solutions's earnings presentation, Aug 14, 2017
Slide 1: Second Quarter 2017 Results
Second Quarter 2017 Results June 2017
Slide 2: Safe Harbor
2 Safe Harbor This presentation includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Pangaea’s and mana
Slide 3: Second Quarter 2017 Highlights
3 Second Quarter 2017 Highlights • Increase in revenue from $57.0 million to $91.4 million (61%) from Q2 2016 to Q2 2017. • Adjusted EBITDA1 of $7.4 million, excluding a $4.9 million loss on sale and leaseback of the m/v Bulk Beothuk, as compared to $4.3 million for the same period of last year. • P
Slide 4: Financial Performance Q2 2016 through Q2 2017
4 Financial Performance Q2 2016 through Q2 2017 1) Adjusted EBITDA is a non-GAAP measure and represents income or loss from operations before depreciation and amortization, loss on sale and leaseback of vessel, and when applicable, loss on impairment of vessels and certain non-recurring items. 2) TC
Slide 5: Drivers of Q2 2017 Performance
5 • The Baltic Dry Index, a measure of dry bulk market performance, increased over 90% from Q2 2016 to Q2 2017. • The average number of operated vessels increased to 52, up from the Q2 2016 average of 39. • The Company’s unique business model means we are not limited to our owned fleet which allows
Slide 6: Defensible Pillars of Profitability
6 Defensible Pillars of Profitability • Execution specialization: - Material cost savings & enhanced profit through granular operating knowledge & risk sensitive approach - Secured & defended by 200+ years of expertise & embedded relationships; key managers average over 20 years in the industry • Ba
Slide 7: Selected Income Statement Data
7 Selected Income Statement Data June 30, 2017 June 30, 2016 (unaudited) (unaudited) Revenues: Voyage revenue 80,231,015$ 53,548,976$ Charter revenue 11,192,763 3,412,729 91,423,778 56,961,705 Expenses: Voyage expense 38,597,148 26,766,724 Charter hire expense 33,174,063 15,041,229 Vessel operating
Slide 8: Selected Balance Sheet and Cash Flow Data
8 Selected Balance Sheet and Cash Flow Data June 30, 2017 December 31, 2016 (unaudited) Current Assets Cash and cash equivalents 29,436,482$ 22,322,949$ Accounts receivable, net 26,653,536 20,476,797 Other current assets 28,876,438 25,744,520 Total current assets 84,966,456 68,544,266 Fixed assets,
Pangaea Logistics Solutions — Q2 2017 Earnings Presentation on 6ix