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4th Quarter Ended December 31 2014 Earnings Presentation – Dryships

Dryships · Feb 26, 2015 · 18 slides

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Slides

  1. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 1
    DryShips Inc. 4th Quarter Ended December 31, 2014 Earnings Presentation NASDAQ: DRYS February 26, 2015
  2. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 2
    Agenda Financial Highlights & Company Update This presentation is primarily focused on our shipping segments operations. Industry Overview For additional information on our drilling segment, please Closing Remarks refer to the…
  3. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 3
    Consolidated1 Q4 and FY 2014 Results Adjusted Q4 Net Income of 14.1m or 0.02 per share (in million, except EPS) Q4 2014 FY 2014 Total Revenues 598.4 2,185.5 Adjusted EBITDA2 298.7 1,048.3 Interest and Finance Cost, net (87.7)…
  4. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 4
    Shipping Segment1 Financial Summary (in million) Q4 2014 FY 2014 Total Revenues 99.0 368.4 Adjusted EBITDA (2) 22.0 85.8 Drybulk Segment Utilization 99.1% 98.4% Tanker Segment Utilization 100.0% 100.0% Drybulk Segment…
  5. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 5
    Dryships: Recapitalized and Ready to Sail Vessel Types Capitalization (m) 963 Shipping Segment 13 Capesize 1,401 24 Panamax Shipping 2 Supramax Segment (Drybulk / Tankers) 438 4 Suezmax 6 Aframax FMV Shipping Debt…
  6. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 6
    Well-positioned to Benefit From Shipping Recovery Drybulk Fleet Employment Profile Shipping Segment Projected Spot Days (1) 100% 1,435 12,000 1,445 29% 28% 36% 2,129 75% 10,000 2,168 959 91 50% 8,000 71% 72% 64% 6,000 25%…
  7. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 7
    Investment in Ocean Rig DRYS Holdings in ORIG ORIG Share Ownership Shares % DRYS 78,301,755 59.2% Other 54,015,423 40.8% Total 132,317,178 100.0% Pledged under Unencumbered ABN Facility 25,172,686 53,129,069 Value of…
  8. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 8
    Agenda Financial Highlights & Company Update Industry Overview Closing Remarks Q&A DryShips Inc.
  9. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 9
    Drybulk: Let's look on the Bright Side Q4 2014 dynamics at a glance: Brazil & Australia exports of iron ore up 11.3% y-o-y with both countries reaching an all time high in Dec-14 of 37.3m tons and 66.3m tons respectively Chinese…
  10. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 10
    Drybulk Back to Overcapacity Mode Fleet Development (year end) Drybulk Orderbook Drybulk Demolition (mdwt) (mdwt) (mdwt) 90 40 800 80 35 700 70 30 600 60 25 500 50 400 20 40 300 15 30 200 10 20 100 5 10 0 0 0 New Orders…
  11. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 11
    Tankers: Oil Price Creating Opportunities (/barrel) 160 Brent 140 WTI During 2014, we witnessed a significant decline in oil 120 prices. This decline is primarily attributed to: 100 US shale growth 80 Unexpected production…
  12. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 12
    Tankers: Positive Supply Fundamentals (mdwt) Fleet Development Orderbook Demolition (mdwt) 7.0 (mdwt) (mdwt) 200 7 180 6.0 6 160 5.0 140 5 120 4.0 4 100 3.0 3 80 60 2.0 2 40 1.0 1 20 0 0.0 0 New Orders 2015 2016 2017+…
  13. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 13
    Agenda Company Update Industry Overview Closing Remarks Q&A DryShips Inc.
  14. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 14
    Steering DRYS Towards Success Ocean Rig is Dryships most valuable investment and we firmly believe Ocean Rig is undervalued. Backlog of 5.2 billion Operational efficiency of approx. 95% for Q4 2014 Net Income of 87.5m for Q4 2014…
  15. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 15
    Agenda Company Update Industry Overview Closing Remarks Q&A DryShips Inc.
  16. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 16
    APPENDIX INDUSTRY OVERVIEW DryShips Inc.
  17. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 17
    Unaudited Condensed Consolidated Statements of Operations (Expressed in Thousands of U.S. Dollars except for share and per share data) Three Months Ended December Year Ended December 31, 31, 2013 2014 2013 2014 REVENUES: Voyage…
  18. 4th Quarter Ended December 31 2014 Earnings Presentation – Dryships – slide 18
    Unaudited Condensed Consolidated Balance Sheets (Expressed in Thousands of U.S. Dollars) December 31, 2013 December 31, 2014 ASSETS Cash, cash equivalents and restricted cash (current and non-current) 739,312 658,936 Other…

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