Slide 1: StealthGas Inc. Q2 2024 Financial and Operating Results
StealthGas Inc. | Q2 2024 Financial and Operating Results | September 5, 2024
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
Slide 3: StealthGas Key Highlights
| StealthGas Key Highlights |Fleet & Operations • Completed the sale of two small LPG vessels in January 2024. Took delivery of two newbuild MGC’s, the Eco Oracle and Eco Wizard in January 2024. • Completed the sale of one MGC owned through our joint venture during April 2024. • Entered into a numbe
Slide 4: Fleet Employment Analytics (As of Sept 2024)
| Fleet Employment Analytics (As of Sept 2024) EARNINGS VISIBILITY Q4 2024 Q1 2025 Q2 2025 Vessel Charter End Date Sep Oct Nov Dec Jan Feb Mar Apr May Jun Name Type 1 Eco Oracle TC Jan 2028 2 Eco Ice TC Sep 2027 3 Gas Alice TC Jul 2027 4 Eco Freeze TC May 2027 • 9 new period charters and charter ext
Slide 5: Summary of our Two JVs
| Summary of our Two JVs $29.8 million Book value of our investment in JV’s as of June 30th. Q4 2024 Q1 2025 Q2 2025 • Four of the vessels are fixed on time charters. One is Vessel Charter End Date Sep Oct Nov Dec Jan Feb Mar Apr May Jun Name Type trading spot. 1 Eco Lucidity (JV1) TC Apr 2025 2 Gas
Slide 6: LPG Fleet Trading Profile
| LPG Fleet Trading Profile EU-Med-19 vessels • Our LPG fleet trading profile is a snapshot of our vessels as of August 30, 2024. • StealthGas focuses on regional trade and local distribution of gas. Our larger vessels mostly do intercontinental voyages particularly US to Europe or Asia. • Our Fleet
Slide 7: Financials: Income Statement
| Financials| Income Statement Income Statement Q2 Q2 (Amounts in USD'000s) 6M 2023 6M 2024 2023 2024 Voyage revenues 36,673 41,786 74,735 83,350 • Net Revenues increased in spite of the decrease in calendar days as a Voyage costs (3,534) (2,663) (7,527) (5,522) +18% Q result of improved market cond
Slide 8: Financials: Balance Sheet
|Financials | Balance Sheet Balance Sheet (Amounts in #039;000s) Q4 2023 Q2 2024 Assets Cash & cash equivalents (incl restricted) 83,756 76,649 Vessel held for sale 34,880 0 • Strong Liquidity on GASS balance sheet, including restricted cash and short Current assets excl. cash 8,082 9,141 term investme
Slide 9: Financials: Debt Analysis & Capital Structure
|Financials |Debt Analysis & Capital Structure - Major deleverage is part of the strategy - During 2023 debt was reduced by c.$154 million with significant savings in interest expenses. - During the first six months added $70.0 million for the 2 new vessels and repaid $85.3 million (prepayments + am
Slide 10: Market update: LPG Sector Highlights & Trends
|Market update| LPG Sector Highlights & Trends • Steady growth in Global LPG exports continues (+4.3% FY2023) (+3.6% 6M 2024). |Global LPG Exports • Another record for US exports +11% y-o-y in Q2 2024. Terminal expansion projects under way to increase export capacity. • Lackluster EU demand but EU b
Slide 11: Market update: LPG Sector Highlights & Trends
|Market update| LPG Sector Highlights & Trends • Q2 24’ is a period when rates usually weaken as we enter summer months . LPG pressurized trade: • West of Suez: - Firm market with tight availability. Renewed period interest driving |Small-Handy-MGC LPG Daily Charter Rates Evolution ($) market to his
Slide 12: Closing Remarks: Considerations Going Forward
|Closing Remarks|Considerations Going Forward • Below are the key variables that will affect our performance going forward. ❖ Significant operating leverage- due to our sizeable fleet. ❖ Reduced exposure to spot market, high earnings visibility. ❖ Healthy capital structure with low debt and high liq