Slide 1: First Quarter 2009 Results
First Quarter 2009 Results May 14, 2009
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements 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 h
Slide 3: Business Strategy
Business Strategy Business Strategy Implementation Continued Expansion Took delivery of one Handy-Size LPG vessel in April 2009 Acquiring two new resale LPG vessels and two M.R. Product Carriers in 2009 Five new LPG vessels on order for delivery now in 2011 and 2012, following renegotiations o
Slide 4: Fleet Development
Fleet Development Our track record of growth through well-timed acquisitions continues Acquisition strategy for fleet to number of 45 ships by year end 2009, 45 by 2010, 49 by 2011 and 50 by 2012 3 StealthGas Inc. © 2007
Slide 5: Fleet Employment Profile
Fleet Employment Profile 4 StealthGas Inc. © 2007
Slide 6: First Quarter 2009 Financial Highlights
First Quarter 2009 Financial Highlights First Quarter 2009 Q1 Net income of $0.2 million, net revenues of $29.2 million, EBITDA of $8.6 million Q1 Net income of $6.6 million before net non cash expense of $6.4 million on interest rate swaps and provision for restricted-stock portion of deferred stoc
Slide 7: First Quarter 2009 Income Statement
First Quarter 2009 Income Statement In US$ 000, except per 1Q08 2Q08 3Q08 4Q08 1Q09 share amounts Net Revenues $27,014 $28,480 $28,895 $28,163 $29,205 Operating Income * 12,127 10,299 9,633 10,020 9,725 Net Income * 7,431 9,438 5,369 7,749 0.2 Net Income, net of interest rate swap, stock based compe
Slide 8: First Quarter 2009 Operating Highlights
First Quarter 2009 Operating Highlights Fleet Data & Daily Results Fleet Data FY07 FY08 1Q08 2Q08 3Q08 4Q08 1Q09 Average number of vessels in fleet 32.8 38.6 37.9 38.0 38.7 39.6 40.8 Period end number of vessels in fleet 38.0 40 38.0 38.0 39.0 40.0 41 Total calendar days for fleet 11,986 14,113 3,45
Slide 9: Daily Breakeven
Daily Breakeven Q4 2008 vs Q1 2009 Daily Cashflow and Net Income Breakeven Composition ($ per vessel per day) Q4 2008 fleet calendar days: 3,647 Q1 2009 fleet calendar days: 3,669 Q4 2008 Q1 2009 Expenses Cash Flow Net Income Cash Flow Net Income Operating $2,253 * $2,253 * $ 2,355* $2,355 * Managem
Slide 10: Financial Estimator
Financial Estimator ($ in millions) 45 Vessels 2009E Non Contracted Voyage Days 3,723 Daily Spot Charter Rate - 4,250 cbm vessel ? Spot Revenue ? Period Charter Revenue (T/C and Bareboat) $101.4 Total Revenue ? Operating Expenses 39.3 SG&A and Management Fees 9.6 Commissions 3.7 Maintenance CapEx 1.
Slide 11: LPGC freight rates
LPGC freight rates Average earnings in the spot market excluding waiting time / 1 yr TC rates 800 USD 1000's per month 700 600 15000 SR TCE 500 8000 ETH TCE 400 6500 SR TCE 3500 SR 1yr TC 300 3500 PR 1yr TC 200 east 100 INGE STEENSLAND AS 2002 2003 2004 2005 2006 2007 2008 2009 10 StealthGas Inc. ©
Slide 12: Charter Market Rate Indicator (12 Month TCs)
Charter Market Rate Indicator (12 Month TCs) Q1 2009 Average Current Q2 2009 Forecast 3,200 CBM S/R 275,000 275,000 260,000 3,500 CBM P/R 214,167 220,000 220,000 5,000 CBM P/R 253,233 260,000 260,000 6,000 CBM S/R 462,500 450,000 450,000 15,000 CBM S/R 675,000 650,000 620,000 35,000 CBM 745,833 650,
Slide 13: TC equiv. spot earnings vs fleet development
3000-7999 cbm Fleet Development Vs. TC Rates/Earnings* 600 20% TCrates in USD 1000'sper month (lines) 500 TCequiv. spot earnings 15% Fleet growth in %(bars) 400 10% 300 5% 200 0% 100 -5% INGE STEENSLAND AS - -10% 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Ov
Slide 14: Price to Net Asset Value Comparison
Price to Net Asset Value Comparison Company Name Symbol NAV P/NAV StealthGas Inc. “GASS” $14.34 0.41x DryShips Inc. * “DRYS” $5.42 1.17x Nordic American Tanker Shipping Ltd. * “NAT” $21.18 1.51x Diana Shipping Inc. * “DSX” $7.71 1.85x Omega Navigation Enterprises Inc. * “ONAV” $1.93 2.15x * Source:
Slide 15: Contacts
Contacts Company Contact: Andrew J. Simmons Visit our Website at: Chief Financial Officer www.stealthgas.com StealthGas Inc. Weekly LPG Market Report 011-30-210-6250-001 updated every Monday E-mail: simmons@stealthgas.com www.stealthgas.com Comprehensive Investor Relations Information 14 StealthGas