Dynagas LNG Partners LP · NYSE:DLNG
Dynagas LNG Partners LP — Q4 2019 Earnings Presentation
13 slides from Dynagas LNG Partners LP's earnings presentation, Mar 13, 2020
Slide 1: Q4 2019 Financial Results Presentation
Q4 2019 Financial Results Presentation March 13, 2020
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 In addition, unpredictable or unknown factors herein also could have material adverse effects on forward-looking statements. Please read the Partnership’s filings with the Securities and Exchange Commission for more information regarding these factors and th
Slide 4: Recent Developments
Recent Developments Quarter Highlights Net Income of $5.5 million and earnings per common unit of $0.07; Adjusted Net Income(1) and Adjusted EBITDA(1) of $5.6 million and $24.0 million respectively. Distributable Cash Flow(1) of $10.2 million; 100% fleet utilization; Repayment of the $250 million 6.
Slide 5: Q4'19 Financial Highlights
Q4’ 19 Financial Highlights USD in thousands (except for unit, average daily hire and other operational data) Q4 2019 Q3 2019 Q4 2018 Revenues 34,317 34,364 31,019 Adjusted Net Income (1) 5,637 2,775 1,292 Adjusted EBITDA (1) 23,991 23,775 21,587 Distributable Cash Flow (1) 10,165 7,007 5,522 Annual
Slide 6: Liquidity and Key Balance Sheet Data
Liquidity and Key Balance Sheet Data US$ million December 31, 2019 Debt amortizing at 1.5x the rate our ships depreciate, Cash(1) 66.2 creating equity value and building balance sheet capacity. Debt Outstanding 663 Net Debt to Total Book Capitalization of 61% and Net Partner’s Book Capital 314 Debt
Slide 7: Fleet Profile
Fleet Profile Fleet 6 LNG carriers 914,100 cbm (149,700 cbm for steam turbine LNG fleet, 155,000 cbm for the tri-fuel Total cbm capacity diesel engine LNG fleet (TFDE’s)) Fleet average age ~9.6 years(1) Average remaining charter duration ~8.6 years(1)(2) Equinor, Yamal (Total, CNPC, Silkro
Slide 8: Long Term Contracts Provide Stable, Visible Cash Flows
Long Term Contracts Provide Stable, Visible Cash Flows L NG Carrier Year Capacity Name Built (cbm) Charterer 2020 2021 2022 Clean 2007 149,700 2026 Ener gy Ob River 2007 149,700 2028 (1) A m ur 2028 2008 149,700 River (1) (1) A r ctic 2013 155,000 A ur or a Yenis ei 2013 155,000 2033/34 River L ena
Slide 9: Market Share: Leader in Ice Class Trades
Market Share: Leader in Ice Class Trades Dynagas Group (DLNG and Sponsor) has an 82% market share of the LNG carriers with ice class 1A FS or equivalent notations The Company’s Arc-4 LNG/ice class 1A FS vessels may trade in conventional open water areas and in ice bound areas No material diffe
Slide 10: Dynagas LNG Partners LP Overview
Dynagas LNG Partners LP Overview High Quality Fleet Stable, Contracted Cash Flow Attractive Financial Profile 6 Vessels 100% Contracted Revenue Global Refinancing and Deleveraging The Partnership operates six large LNG All six of the Partnership’s vessels are Traditional amortizing term loan sets th
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 / (loss) per Common Unit Three Months Ended (In thousands of U.S. Dollars, except for units and per unit data) December 31, 2019 2018 Net Income / (Loss) $ 5,529 $ (924) Amortization of deferred revenue 53 (201) Amortization o
Slide 13: Reconciliation of Net income to Adjusted EBITDA
Reconciliation of Net income to Adjusted EBITDA 1 Three Months Ended (In thousands of U.S. Dollars) December 31, 2019 2018 Net income / (loss) $ 5,529 $ (924) Net interest and finance costs, excluding amortization 10,362 12,649 Depreciation 7,992 7,646 Class survey costs — 2,380 Amortization of defe