Taylor Maritime Limited · LSE:TMI
Taylor Maritime — Taylor Maritime Investments — Q4 2022 Earnings Presentation
16 slides from Taylor Maritime's earnings presentation, Apr 21, 2022
Slide 1: Q4 Trading Update Investor Presentation
Q4 Trading Update Investor Presentation 21st April 2022 Strictly Private and Confidential 1
Slide 2: Disclaimer
Strictly Private & Confidential Disclaimer Important disclosures - NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES (SAVE AS PROVIDED HEREIN), AUSTRALIA, SOUTH AFRICA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLA
Slide 3: Key Investment Attractions
Strictly Private & Confidential Key Investment Attractions Highly cash generative, attractive asset portfolio internally managed by an experienced team, with a favourable market outlook ◼ Buoyant market dynamics with strength set to continue for 2-3 years ◼ Leading position in niche Handysize market
Slide 4: Q4 Trading Update
Strictly Private & Confidential Q4 Trading Update Leading position in the Handysize market generating strong shareholder returns through the cycle Performance and track record Financial stability and sustainability Scale and Growth • During the quarter unaudited NAV per share • Third quarterly divid
Slide 5: Operating Market - Global Shipping
Strictly Private & Confidential Operating Market - Global Shipping ◼ Accounts for 90% of global goods transport ◼ The lowest carbon intensity and cost-effective mode of transporting bulk goods given commodity volumes and distances to be covered; proactive stance from sector participants for decarbon
Slide 6: Market Dynamics - Demand: Positive Outlook Driven by Minor Bulk Growth
Strictly Private & Confidential Market Dynamics - Demand: Positive Outlook Driven by Minor Bulk Growth Core trades for our vessels are mostly necessity goods focused on minor bulks and grains Commentary Grain and minor bulk trade development (billion tonne miles) ◼ Demand shaped by global population
Slide 7: Market Dynamics – Supply: Growth Curbed, Ageing Fleet and Regulatory Pressure
Strictly Private & Confidential Market Dynamics – Supply: Growth Curbed, Ageing Fleet and Regulatory Pressure Historically low order book and rare level of extended visibility of the orderbook to 2024 due to yards being full Order book as multiple of scrap pool (vessels >20 years old) Order book (as
Slide 8: Strategic Priorities
Strictly Private & Confidential Strategic Priorities ◼ Continue to focus on high quality second-hand, predominantly Japanese vessels acquired at discount to long- term average prices and depreciated replacement cost ◼ Maintain strategic balance of short, medium and long-term charters that is most co
Slide 9: Financial Characteristics - Current Portfolio Deployment
Strictly Private & Confidential Financial Characteristics - Current Portfolio Deployment1 Yields remain strong at >25% gross with a net TC rate of c.$19,200 per day Average annualized unlevered gross cash yield Fleet employment renewal Avg yield: >25% Avg duration: 7 months 3% 18% 31% 31% 4% 79% 35%
Slide 10: Acquisition of stake in Grindrod Shipping closed – complementary investment
Strictly Private & Confidential Acquisition of stake in Grindrod Shipping closed – complementary investment ◼ The Company completed the acquisition of a stake in Grindrod Shipping at $18 per share in January bringing the Company’s ownership to 26.6% (including previously announced open market purcha
Slide 11: ESG - Committed to Initiatives to Integrate ESG Principles
Strictly Private & Confidential ESG - Committed to Initiatives to Integrate ESG Principles TMI is committed to achieving a long-term target of net zero emissions by 2050 and to cross-industry efforts to achieve that target. Substantial technological advances are key for shipping industry – TMI has c
Slide 12: Outlook – Market Outlook and TMI Future Growth
Strictly Private & Confidential Outlook – Market Outlook and TMI Future Growth Further accretive growth opportunities will be pursued with a focus on enhancing shareholder returns. Given our positive market outlook, TMI continues to prioritise the geared segment. In parallel, TMI continually monitor
Slide 13: Summary
Strictly Private & Confidential Summary Highly cash generative, attractive asset portfolio internally managed by an experienced team, with a favourable market outlook 1 Leading position in niche Handysize market 2 High quality asset portfolio of 31 vessels, largely Japanese built (including committe
Slide 14: Appendix
Strictly Private & Confidential Appendix 12
Slide 15: Introduction – Key Facts
Strictly Private & Confidential Introduction – Key Facts Summary Structure Internally managed, Guernsey investment company London Stock Exchange listed / Premium segment USD denominated; USD and GBP share quotes Fundraisings / M&A / Market IPO $160m offering (May 2021) Cap Follow-on fundra
Slide 16: Operating Market - The Geared Shipping Sector
Strictly Private & Confidential Operating Market - The Geared Shipping Sector The workhorses of the shipping sector, geared vessels are differentiated by their versatility, flexibility and port accessibility Dry Bulk Ship Type Principal Cargoes Trade Routes Financial implications More Minor Bulks Ve
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