Golar Lng Partners Lp 8.75% Cum Red Pfd Unit Ser A · OTC:GMLPF
Golar Lng Partners Lp 8.75% Cum Red Pfd Unit Ser A — Golar LNG Partners — Q4 2014 Earnings Presentation
13 slides from Golar Lng Partners Lp 8.75% Cum Red Pfd Unit Ser A's earnings presentation, Feb 25, 2015
Slide 1: Golar LNG Partners Fourth Quarter Results 2014
Golar LNG Partners Fourth Quarter Results 2014 25 February 2015
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflects management’s current expectations, estimates and projections about its operations. All statements, other than statements of h
Slide 3: Q4 2014: Highlights & subsequent events
Q4 2014: Highlights & subsequent events Net income attributable to unit holders of $36.7 million and operating income of $63.2 million. Generated distributable cash flow of $48.3 million for the quarter, with a coverage ratio of 1.29. Strong operational performance with 100% utilisation for the flee
Slide 4: Income Statement
Income Statement 2014 2014 2013 2014 2013 (USD thousands) Oct-Dec Jul-Sep Oct-Dec Jan-Dec Jan-Dec (unaudited) (unaudited) (unaudited) (unaudited) (audited) Operating revenues 102,244 104,505 88,331 396,026 329,190 Vessel operating expenses 14,537 14,326 12,615 59,191 52,390 Voyage and commission exp
Slide 5: Balance Sheet: Assets
Balance Sheet: Assets 2014 2014 2013 Dec 31 Sep 30 Dec 31 (unaudited) (unaudited) (audited) (USD thousands) Short term assets Cash and cash equivalents 98,998 57,151 103,100 Restricted cash and short-term investments 25,831 24,823 24,451 Other current assets 16,727 16,559 8,828 Long term assets Rest
Slide 6: Balance Sheet: Liabilities
Balance Sheet: Liabilities 2014 2014 2013 Dec 31 Sep 30 Dec 31 (unaudited) (unaudited) (audited) (USD thousands) Short term liabilities Current portion of long term debt (including debt due to related parties) 252,746 140,596 156,363 Other current liabilities 133,653 105,485 84,709 Long term liabili
Slide 7: Distributable Cash Flow
Distributable Cash Flow Three months Three months (USD thousands) ended ended Dec 31, 2014 Sep 30, 2014 Net Income before non controlling interest 39,471 69,553 Add: Depreciation and Amortisation 22,203 20,828 Unrealised (gain) / loss from interest rate derivatives 5,018 (4,190) Unrealised foreign e
Slide 8: Distributable Cash Flow & Distributions
Distributable Cash Flow & Distributions Following the Igloo Distributions paid on Acquisition, distributions additional units issued in were increased 4.8% in Q2. advance of Golar Igloo Increased a further 2.7% in Q4 in Distributable cash acquisition relation to the Eskimo drops as a result of sched
Slide 9: Assets and Contracts
Assets and Contracts $2.7 billion contracted revenue – Average 6.0 years remaining contract term Counterparty 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Golar Spirit 10-year contract Golar Winter 10-year contract extended to 15 years Golar Freeze FSRUs 10-year contract Nusantara Regas Sa
Slide 10: Recent acquisition: Golar Eskimo
Recent acquisition: Golar Eskimo Purchase price $390.0 million Financed by: Cash on Hand $7.2 million Shareholder Loan from Golar (2-years @ LIBOR + 2.84%) $220.0 million Debt (acquired with vessel) $162.8 million Contract term to June 2025 10 years Estimated EBITDA 1st 5 years $45-$47 million Estim
Slide 11: Growth
Growth FSRUs: Carriers: 6 FSRUs in current portfolio. 4 carriers in current portfolio. Golar has a further FSRU under construction and is in Over 100mtpa of new liquefaction capacity (around 40% of an exclusive partnership with Quantum Power existing capacity) from projects that are under co
Slide 12: Growth: Floating Liquefaction
Growth Floating Liquefaction: Hilli conversion on track for commencement of operations in 2Q 2017. Heads of Agreement executed for first deployment opportunity: A 1.2mtpa GoFLNG facility off the coast of Cameroon. First gas scheduled for 2Q 2017. 8 year contract term. Agreement to conver
Slide 13: Summary
Summary Solid contract base - Revenue backlog of $2.7 billion and average contract term of 6.0 years. Khannur Excellent operating results – 99.9% average utilization for the last 6 quarters. Golar Freeze SolidGolar market growth outlook - growing LNG demand and supply despite lower energy Winterpric