Investor Highlights
DORIAN LPG
May 2020
Disclaimer
Forward-Looking Statements
This presentation contains certain forward-looking statements including analyses and other information based on forecasts of future results and estimates of amounts not yet determinable and statements relating to our future prospects, developments and business strategies. Forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will" and similar terms and phrases, including references to assumptions. The forward-looking statements in this presentation are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.
Actual results could differ materially from expectations expressed in the forward-looking statements if one or more of the underlying assumptions or expectations proves to be inaccurate or is not realized. Our actual future results may be materially different from and worse than what we expect. We qualify all of the forward-looking statements by these cautionary statements. We caution readers of this presentation not to place undue reliance on forward-looking statements. Any forward-looking statements contained herein are made only as of the date of this presentation, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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Investor Highlights - 4Q FY20 Earnings
Baltic VLGC Index Performance
90
80
70
PMT | 60 | |||
50 | ||||
USD, | ||||
40 | ||||
30 | ||||
20 | ||||
10 | ||||
- | ||||
1/1/2020 | 2/1/2020 | 3/1/2020 | 4/1/2020 |
Selected Balance Sheet Data at 3/31/20203
Helios LPG Information
• | $ | 49,502 | − | Hellios Pool TCE / Available Day |
• | $ | 51,481 | − | Hellios Pool Spot + COA TCE / Available Day |
Dorian LPG Operating Statistics | ||||
• | $ | 51,888 | − Fleet TCE / Operating Day | |
• | 91.7% | − | Fleet Utilization1 | |
• | $ | 55,470 | − Spot TCE / Operating Day2 | |
• | 90.7% | − | Spot Fleet Utilization1,2 | |
• | $ | 9,407 | − Fleet OpEx (reported) / Calendar Day | |
• | $ | 8,556 | − Fleet OpEx (ex drydock)/ Calendar Day |
mm | |||
Cash | $ | 48.4 | |
Short-term Investments | 14.9 | ||
Restricted Cash | 39.0 | ||
Total Cash and Marketable Securities | $ | 102.3 | |
mm | ||||
2015 Debt Facility | $ | 446.6 | ||
3 | - Captains Japanese Financings | 57.4 | ||
3 | - Eco VLGC Japanese Financings | 142.1 | ||
Total Debt Obligations | $ | 646.1 | ||
- Defined as operating days / available days
- Spot includes all vessels operating in the Helios LPG Pool, which may include spot voyages, COAs, and short-duration time charters; spot TCE also net of Pool time charters-in and Pool administrative costs
- Numbers may not sum due to rounding
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Investor Highlights - 4Q FY20 Statement of Cash Flow
Three Months Ended (Unaudited) | |||||||
March 31, 2020 | March 31, 2019 | ||||||
Cash flow s from operating activities: | |||||||
Net income/(loss) | $ | 29,425,391 | $ | (15,953,575) | |||
Adjustments to reconcile net loss to net cash provided by operating activities: | |||||||
Depreciation and amortization | 16,812,288 | 16,068,079 | |||||
Amortization of financing costs | 693,905 | 752,133 | |||||
Unrealized loss on derivatives | 12,915,265 | 3,906,211 | |||||
Stock-based compensation expense | 379,653 | 1,288,510 | |||||
Unrealized foreign currency loss, net | 243,314 | 17,897 | |||||
Other non-cash items, net | (191,878) | (169,579) | |||||
Changes in operating assets and liabilities | |||||||
Trade receivables, net and accrued revenue | 21,649 | (1,375,915) | |||||
Prepaid expenses and other current assets | 256,872 | 167,283 | |||||
Due from related parties | 1,188,274 | 13,471,251 | |||||
Inventories | 226,340 | 34,920 | |||||
Other non-current assets | (950,665) | (128,897) | |||||
Trade accounts payable | 144,800 | 1,809,431 | |||||
Accrued expenses and other liabilities | (812,690) | (7,060,572) | |||||
Due to related parties | 425,688 | 478,482 | |||||
Payments for drydocking costs | (2,117,839) | (24,436) | |||||
Net cash provided by operating activities | 58,660,367 | 13,281,223 | |||||
Cash flow s from investing activities: | |||||||
Vessel-related capital expenditures | (7,512,817) | (1,269,568) | |||||
Payments for short-term investments | (14,888,638) | - | |||||
Proceeds from sale of investment securities | 264,604 | - | |||||
Payments to acquire other fixed assets | (689) | (46,737) | |||||
Net cash used in investing activities | (22,137,540) | (1,316,305) | |||||
Cash flow s from financing activities: | |||||||
Repayment of long-term debt borrow ings | (15,992,104) | (15,992,104) | |||||
Purchase of treasury stock | (34,829,549) | (71,422) | |||||
Net cash used in financing activities | (50,821,653) | (16,063,526) | |||||
Effects of exchange rates on cash and cash equivalents | (253,647) | (11,578) | |||||
Net decrease in cash, cash equivalents, and restricted cash | (14,552,473) | (4,110,186) | |||||
Cash, cash equivalents, and restricted cash at the beginning of the period | 101,941,600 | 70,582,832 | |||||
Cash, cash equivalents, and restricted cash at the end of the period | $ | 87,389,127 | $ | 66,472,646 | |||
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Dorian LPG Ltd. published this content on 27 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2020 10:12:03 UTC