Dynagas Lng Partners Lp · NYSE:DLNG
Dynagas Lng Partners Lp — Q3 2024 Earnings Presentation
13 slides from Dynagas Lng Partners Lp's earnings presentation, Nov 22, 2024
Slide 1: Q3 2024 Financial Results Presentation
Q3 2024 Financial Results Presentation 22 November, 2024
Slide 2: Forward Looking Statements and Disclaimer
Forward Looking Statements and Disclaimer This presentation contains certain statements that may be deemed to be “forward-looking statements” within the meaning of applicable federal securities laws. All statements included in this presentation which are not historical or current facts (including ou
Slide 3: Forward Looking Statements and Disclaimer
Forward Looking Statements and Disclaimer borrowings and to access debt and equity markets; planned capital expenditures and availability of capital resources to fund capital expenditures; our ability to maintain long-term relationships with major LNG traders; our ability to leverage our Sponsor’s r
Slide 4: Return of Capital to Common Unitholders
Return of Capital to Common Unitholders Initiation of distribution to common unit holders: ▪ The Partnership’s Board of Directors has declared a quarterly cash distribution with respect to the quarter ended September 30, 2024, of $0.049 per common unit. ⎼ This cash distribution will be paid on 12 De
Slide 5: Balanced Capital Allocation: Key Considerations
Balanced Capital Allocation: Key Considerations Return of Capital to Common Unitholders: ⎼ Build common unitholder value on a sustainable basis via cash distributions to common unitholders and common unit buybacks. Risk Management: ⎼ Continue deleveraging organically and managing balance sheet risk.
Slide 6: Financial Summary q3 2024
Financial Summary q3 2024 Quarter Highlights ▪ Improved financial performance: Increase in Adjusted EBITDA In USD thousands, except TCE q3 2024 q2 2024 q3 2023 and Adjusted Net Income relative to q2 2023 primarily due to Voyage Revenues 39,069 37,615 37,012 increase in cash revenues on the Arctic Au
Slide 7: Cash Flow Generation and Capital Structure
Cash Flow Generation and Capital Structure ($) thousands ($) millions $70,000 $28,901 Senior Secured Debt Series A Preferred Units $1,602 $60,000 $1,285 Series B Preferred Units Common Book Equity -$6,196 $52,021 $50,000 -$11,042 -$3,259 $40,000 $35,565 $30,000 $334 $349 $20,000 Last quarter of swap
Slide 8: Debt Highlights
Debt Highlights ▪ Debt Outstanding: $334m on four LNG carriers, with two vessels debt-free. NET DEBT / EBITDA 7.0 6.6 ▪ Financial leverage metrics continue to strengthen with $389m in 5.6 6.0 debt paid since end 2018. 4.8 4.7 5.0 3.7 ▪ Current lease financing with amortization of $44m per year furth
Slide 9: Fleet Profile
Fleet Profile Fleet ◼ 6 LNG carriers Total cbm capacity ◼ 914,100 cbm (149,700 cbm for steam turbine LNG fleet, 155,000 cbm for the tri-fuel diesel engine LNG fleet (TFDE’s)) Fleet average age ◼ ~14.3 years(1) Average remaining charter ◼ ~6.2 years(1)(2) duration ◼ Equinor (Norway), SEFE Marketing &
Slide 10: Fleet Employment Overview
Fleet Employment Overview Size(m3) Charterer 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Clean Energy 150,000 SEFE (Singapore) Rio Grande LNG Ob River (1) 150,000 SEFE (Singapore) Amur River (1) 150,000 SEFE (Singapore) Yenisei River(2) 155,000 Yamal LNG (Singapore) 5+5+5 yrs Le
Slide 11: Appendix
Appendix 10
Slide 12: Reconciliation of Net Income to adjusted Net Income and Adjusted Earnings per Common Unit
Reconciliation of Net Income to adjusted Net Income and Adjusted Earnings per Common Unit Three Months Ended Nine Months Ended September 30, September 30, (In thousands of U.S. dollars except for units and per unit data) 2024 2023 2024 2023 (unaudited) (unaudited) Net Income $ 15,054 $ 1,380 $ 37,51
Slide 13: Reconciliation of Net income to Adjusted EBITDA
Reconciliation of Net income to Adjusted EBITDA Three Months Ended Nine Months Ended September 30, September 30, (In thousands of U.S. dollars) 2024 2023 2024 2023 (unaudited) (unaudited) Net income $ 15,054 $ 1,380 $ 37,512 $ 25,410 Net interest and finance costs (1) 6,342 9,203 23,179 27,605 Depre