Taylor Maritime Limited · LSE:TMI
Taylor Maritime — Q1 FY24 Earnings Presentation
11 slides from Taylor Maritime's earnings presentation, Jul 26, 2024
Slide 1: Q1 FY24 Trading Update
Q1 FY24 Trading Update 26 July 2024 Strictly Private and Confidential
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: First Quarter Review – Highlights
Strictly Private & Confidential First Quarter Review – Highlights Asset values strengthened last quarter, underpinned by positive sentiment, driving NAV total return of 4.3% while seeing Company Debt-to-Gross Assets reduce to 21.7% Operating Performance Capital Allocation Portfolio • Unaudited NAV p
Slide 4: First Quarter Review – Charter Market
Strictly Private & Confidential First Quarter Review – Charter Market Trade disruption from the drought-affected Panama Canal & escalation of tensions in the Red Sea continued to positively impact tonne-mile demand through the period Handysize & Supra/Ultramax Spot Rates LTM Geared Dry Bulk 1 year T
Slide 5: First Quarter Review – Portfolio Deployment for the Combined Fleet
Strictly Private & Confidential First Quarter Review – Portfolio Deployment for the Combined Fleet Combined Fleet Time Charter Equivalent (“TCE”) for the quarter averaged $13,264 per day Actual TCE per day at quarter end ($) Forward Coverage – Calendar Year 2024 Forward Coverage TCE Earnings: $14,01
Slide 6: TMI Debt Reduction Progress and Target
Strictly Private & Confidential TMI Debt Reduction Progress and Target TMI’s proactive strategy to strengthen the balance sheet has resulted in $119 million of repayments since the Grindrod transaction. Going forward the focus is on reducing Group ‘Look Through’ leverage in line with our long-term c
Slide 7: Grindrod – Return, Synergies & Integration
Strictly Private & Confidential Grindrod – Return, Synergies & Integration TMI set to gain 100% ownership of Grindrod with the Selective Capital Reduction having been approved by shareholders and the Singapore High Court, accretive to TMI NAV per share by c.7 cents1 Overall, $47.8m profit or 14.8% r
Slide 8: Outlook – Demand Fundamentals
Strictly Private & Confidential Outlook – Demand Fundamentals Firm demand growth forecast in 2024 with support from grain volumes and global macroeconomic improvements, although clear risks remain Commentary Grain and minor bulk trade development (billion tonne-miles) ◼ Demand shaped by global popul
Slide 9: Outlook – Supply Fundamentals
Strictly Private & Confidential Outlook – Supply Fundamentals 10% of the Handysize fleet and 5% of Supra/Ultramax fleet at scrapping age within the next year or so Geared dry bulk supply development (dwt m) Handysize and Supra/Ultramax Newbuild, Resale and Secondhand Prices 30 HS Del. 30.0% 45 61-64
Slide 10: Strategic Priorities
Strictly Private & Confidential Strategic Priorities TMI maintains strong conviction in the medium-term investment opportunity set SHORT-TERM FOCUS: ◼ Further deleverage through select asset disposals to strengthen balance sheet ◼ Continue to streamline TMI and Grindrod operations, to enhance operat
Slide 11: Questions
Strictly Private & Confidential Questions Strictly Private and Confidential