Awilco Lng Asa · OSL:ALNG
Awilco Lng Asa — Q2 2023 Earnings Presentation
19 slides from Awilco Lng Asa's earnings presentation, Aug 23, 2023
Slide 1: Second quarter 2023
Second quarter 2023 August 23, 2023 www.awilcolng.no -1-
Slide 2: Disclaimer
Disclaimer This presentation may include certain forward-looking statements, forecasts, estimates, predictions, influences and projections regarding the intent, opinion, belief, various assumptions or current expectations of Awilco LNG (the “Company”) and it’s management with respect to, among other
Slide 3: Company overview
Company overview Awilco LNG is a fully integrated pure play LNG transportation provider, owning and operating LNG carriers. The Company owns and operates two 2013-built 156,000 cbm TFDE LNG carriers, WilPride and WilForce, trading in the medium-term market. Awilco LNG is listed on Euronext Expand wi
Slide 4: Agenda August 23, 2023
Agenda August 23, 2023 1. Highlights 2. Financials second quarter 2023 3. Market update 4. Summary www.awilcolng.no -4-
Slide 5: Highlights
Highlights Awilco LNG achieved a net result of USD 11.0 million and profit per share of USD 0.08 in the second quarter, up from a net result of USD 9.0 million and USD 0.07 per share in the first quarter 2023. First half 2023 net result ended at USD 20.1 million or USD 0.15 per share Net freight
Slide 6: Agenda August 23, 2023
Agenda August 23, 2023 1. Highlights 2. Financials second quarter 2023 3. Market update 4. Summary www.awilcolng.no -6-
Slide 7: Second quarter 2023 income statement
Second quarter 2023 income statement USD million Q2’23 Q1’23 Q2’22 2022 Freight income 22.1 20.7 12.3 51.5 Voyage related expenses (0.2) (0.2) (2.1) (6.2) Net freight income 21.9 20.5 10.2 45.3 Other income 0.0 0.0 0.0 0.4 Operating expenses (2.4) (3.0) (2.7) (11.0) Administration expenses (1.1) (0.
Slide 8: Second quarter 2023 financial position
Second quarter 2023 financial position USD million 30.06.23 31.03.23 31.12.22 Vessels 314.0 315.3 317.1 Other fixed assets 0.5 0.5 0.5 Total non-current assets 314.5 315.8 317.6 Trade receivables 3.8 3.7 3.8 Financial investments 0.0 0.0 0.0 Other short term assets 0.6 0.5 0.6 Cash and cash equivale
Slide 9: Second quarter 2023 cash flow
Second quarter 2023 cash flow USD million Q2’23 Q1’23 Q2’22 2022 Cash Flows from Operating Activities: Profit/(loss) before taxes 11.0 9.0 0.0 5.8 Income taxes paid - - - - Interest and borrowing costs expensed 4.7 4.6 2.8 12.8 Depreciation, amortisation and impairment 3.1 3.2 3.3 12.7 Valuation adj
Slide 10: Agenda August 23, 2023
Agenda August 23, 2023 1. Highlights 2. Financials second quarter 2023 3. Market update 4. Summary www.awilcolng.no - 10 -
Slide 11: Spot rates
Spot rates USD/DAY 350 000 300 000 250 000 200 000 150 000 100 000 50 000 - WW spot rate ST WW spot rate TFDE Historic ave. spot rate ST Historic ave. spot rate TFDE • The LNG market has rebounded the last weeks following a seasonal weak period. Focus is now to secure tonnage for the upcoming winter
Slide 12: LNG export and import
LNG export and import Q2 2023 vs Q2 2022 (YoY change) West Africa Russia North America North Africa Middle East and Gulf Latin America Europe Asia -2 -2 -1 -1 0 1 1 2 2 3 Import (in MT) Export (in MT) • Small positive change in volume of discharged LNG compared to second quarter last year • Continue
Slide 13: Gas prices
Gas prices USD/MMBTU 100 90 80 70 60 50 40 30 20 10 0 01.2018 03.2018 05.2018 07.2018 09.2018 11.2018 01.2019 03.2019 05.2019 07.2019 09.2019 11.2019 01.2020 03.2020 05.2020 07.2020 09.2020 11.2020 01.2021 03.2021 05.2021 07.2021 09.2021 11.2021 01.2022 03.2022 05.2022 07.2022 09.2022 11.2022 01.202
Slide 14: Trainspotting
Trainspotting MTPA 14 LNG PROJECTS MTPA 700 12 650 10 600 8 550 6 500 4 450 2 400 0 350 2023 2024 2025 2026 2027 2028 2029 2030 Total capasity (RHS) • ~ 280 MTPA new capacity currently under construction or planning. • Continued high activity following Europe's renewed focus on security of supply an
Slide 15: LNG fleet and orderbook
LNG fleet and orderbook NO. VESSELS TOTAL FLEET 1000 100 900 800 80 700 600 60 500 400 40 300 20 200 100 0 0 Fixed (LHS) Fixed Arc7s (LHS) Available (LHS) Delivered (LHS) Total fleet (RHS) • Orderbook for LNGC now stand at 314 of which about 10% are unfixed • Limited newbuilding deliveries in 2023 s
Slide 16: Agenda August 23, 2023
Agenda August 23, 2023 1. Highlights 2. Financials second quarter 2023 3. Market update 4. Summary www.awilcolng.no - 16 -
Slide 17: Summary
Summary The Company report a profit for the quarter of USD 11.0 million and an all-time high first half year result of USD 20.1 million Both vessels are trading on fixed rate contracts, securing employment until third quarter 2024 with an average rate of USD 121,500 pd The Board of Directors a
Slide 18: A Fully Integrated Pure Play LNG Transportation Provider
A Fully Integrated Pure Play LNG Transportation Provider Two 2013 built TFDEs Tier 1 customers Solid owners Experienced Opportunistic strategy management team www.awilcolng.no - 18 -
Slide 19: Jon Skule Storheill CEO Mobile: +47 913 44 356
Jon Skule Storheill CEO Mobile: +47 913 44 356 E-mail: jss@awilcolng.no Per Heiberg CFO Mobile: +47 952 20 264 E-mail: pheiberg@awilcolng.no www.awilcolng.no - 19 -