Ocean Yield ASA — Q1 2022 Earnings Presentation
10 slides from Ocean Yield ASA's earnings presentation, May 25, 2022
Slide 1: Q1 2022 Presentation
Q1 2022 PRESENTATION 25th May 2022
Slide 2: A Steady Quarter for Ocean Yield
A STEADY QUARTER FOR OCEAN YIELD • EBITDA of USD 41.1 million and EBITDA adjusted for finance lease effects of USD 68.4 million • Net profit of USD 22.1 million and adjusted net profit USD 21.4 million • Stable performance with 96% of the book values employed on long-term charters • Counterparty ris
Slide 3: Delivery of Suezmax Tanker
DELIVERY OF SUEZMAX TANKER • The suezmax crude tanker Nordic Harrier was delivered on May 13th from Samsung Heavy Industries in Korea • Upon delivery, the vessel commenced a 10-year bareboat charter to Nordic American Tankers Ltd., a crude tanker company listed on the New York Stock Exchange • The d
Slide 4: Long-term Charters Secures Stable Cash Flow
LONG-TERM CHARTERS SECURES STABLE CASH FLOW EBITDA backlog1 per year EBITDA backlog1 per segment Charter status as (USDm) Car carriers % of book value of portfolio Oil service Gas carriers 365 355 344 4% 328 6% 8% 293 6% 283 Containers 24% Crude tankers 34% 9% 96% Dry bulk 13% 2023 2024 2025 2026 20
Slide 5: Financial Snapshot
FINANCIAL SNAPSHOT Adjusted net profit Q1 2022 Key financials USD million $41.1m $68.4m 24,3 EBITDA Adjusted EBITDA 23,6 21,9 21,5 21,4 21,0 19,4 19,7 $21.4m $0.0 cents Adjusted net profit Dividend per share $89.3m 29.0% Cash Equity ratio Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 20
Slide 6: Income Statement
INCOME STATEMENT INCOME STATEMENT Q4 Q1 Amounts in USD million 2021 2022 Operating revenues 17.8 16.6 Finance lease revenues 21.3 22.0 Income from investments in associates 2.5 5.2 Other revenue 5.8 - Total revenues and other income 47.4 43.8 Total operating expenses (5.9) (2.8) Depreciation and amo
Slide 7: Adjusted EBITDA and Net Profit
ADJUSTED EBITDA AND NET PROFIT ADJUSTMENTS Q4 Q1 Amounts in USD million 2021 2022 EBITDA 41.5 41.1 Repayment on finance lease receivables 24.6 27.4 EBITDA adjusted for finance lease effects 66.1 68.4 Net profit (loss) for the period 17.9 22.1 Termination of swaps in Box Holdings 1.9 Expenses related
Slide 8: Balance Sheet
BALANCE SHEET BALANCE SHEET Q4 Q1 Q4 Q1 Amounts in USD million 2021 2022 2021 2022 ASSETS EQUITY AND LIABILITIES Common equity 538 538 Vessels and equipment 523 518 Hybrid capital 125 125 Investments in associates 183 194 Total equity 663 663 Finance lease receivables 1 295 1 285 Restricted cash dep
Slide 9: Outlook
OUTLOOK 1 Ocean Yield is in a robust financial position and access to financing remains strong 2 The portfolio remains well performing and the counterparty credit quality is solid 3 Actively looking at new growth opportunities
Slide 10: Investor Relations
INVESTOR RELATIONS Eirik Eide, CFO +47 24 13 01 91 Eirik.eide@oceanyield.no www.oceanyield.no/IR