Stealthgas, Inc. · NASDAQ:GASS

Stealthgas — Q4 2022 Earnings Presentation

13 slides from Stealthgas's earnings presentation, Feb 21, 2023

  1. Slide 1: Q4 2022 Financial and Operating Results

    SteatlhGas Inc. | Q4 2022 Financial and Operating Results | February 21, 2023

  2. Slide 2: Disclaimer

    | Disclaimer This presentation contains forward-looking statements within the meaning of applicable federal securities laws. Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be dee

  3. Slide 3: StealthGas Key Highlights

    1| Highlights| SteatlhGas Key Highlights |Fleet & Operations • Further reduced spot market exposure compared to previous quarter. • Continued interest from charterers for longer period charters. Increased period coverage to 55% of fleet days for 2023. • Increased contracted revenues for all subseque

  4. Slide 4: Fleet Employment Analytics

    1| Highlights| Fleet Employment Analytics (As of February 2023) EARNINGS VISIBILITY Q1 2023 Q2 2023 Q3 2023 Q4 2023 Vessel Charter End Date Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Name Type 1 Eco Universe TC Mar 2026 2 Eco Corsair TC Feb 2026 3 Eco Elysium TC Jun 2024 4 Eco Freeze TC Jun 2024 •

  5. Slide 5: Summary of our Two JVs

    1| Highlights| Summary of our Two JVs Small LPG JV Structure- 1 • Currently, one of the vessels operates in the spot market in Asia. Q1 2023 Q2 2023 Q3 2023 Q4 2023 Vessel Charter End Date Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Name Type • Two vessels that finished their previous employment 1 G

  6. Slide 6: LPG Fleet Trading Profile

    1| Highlights| LPG Fleet Trading Profile EU-Med-16 vessels • SteatlhGas focuses on regional trade and local distribution of gas. Our Fleet trading pattern is geographically diversified and is continuously adjusted to market needs. • Our LPG fleet (incl. semi-refs) trading profile is a snapshot of ou

  7. Slide 7: Income Statement

    2| Financials| Income Statement Income Statement Q4 Q4 (Amounts in USD'000s) 12M 2021 12M 2022 2021 2022 Voyage revenues 36,053 42,729 150,205 152,761 Voyage costs (4,798) (6,528) (22,209) (22,177) Net revenues 31,256 36,202 127,995 130,583 + 2% Operating expenses (15,090) (14,610) (61,510) (54,945)

  8. Slide 8: Balance Sheet

    2|Financials | Balance Sheet Balance Sheet (Amounts in #039;000s) Q4 2021 Q4 2022 Assets • Liquidity on GASS balance sheet, including restricted cash and short term Cash & cash equivalents (incl restricted) 45,701 95,655 investments, increased to $97.5 million (+109%). Vessel held for sale 12,250 11,10

  9. Slide 9: Debt Analysis & Capital Structure

    2|Financials |Debt Analysis & Capital Structure - Since the beginning of 2021 and up until February 2022, we concluded the refinancing of twenty vessels, thus succeeding in: - Reshaping our loan portfolio’s duration, no refinancing needs for the next two years. - Enhancing our free cash ,and reducin

  10. Slide 10: LPG Sector Highlights & Trends

    3|Market update| LPG Sector Highlights & Trends • Global LPG exports increased +4.5% Jan-Dec. • US and Middle East driving exports with significant increases. • Imports: India Japan Korea Europe China 400 |Global LPG Production • The intra European trade recovered in the winter months. 350 • China r

  11. Slide 11: LPG Sector Highlights & Trends

    3|Market update| LPG Sector Highlights & Trends • During Q4 22’ rates spot activity increased and rates improved across sizes. Focusing on LPG pressurized trade: |Small-Handy LPG Daily Charter Rates Evolution ($) • West of Suez: - Tight spot market and increased period activity. Rates continued to p

  12. Slide 12: LPG Fleet evolution - Continued commitment in LPG shipping

    4|GASS- LPG Fleet evolution -Continued commitment in LPG shipping • Stealthgas became pure LPG company following the spin-off of the four tankers in late 2021. • Stealthgas has been selling older vessels replacing them with larger modern vessels. • Four vessels were sold in 2022 (incl JV’s). Three m

  13. Slide 13: Outlook | Forecast | Considerations Going Forward

    5|Outlook|Forecast|Considerations Going Forward • Given the turbulent and uncertain market, it is quite difficult to predict revenue and profitability. • Below are the key variables that will affect our performance going forward.  Time charter rates for small and Handy LPGs have been rising over th

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