Teekay LNG Partners Q2-2020 Earnings Presentation August 13, 2020
Recent Highlights Key Takeaways: 8th consecutive quarterly increase in Total Adjusted Another Record Record Total Adj. EBITDA(1) and Adj. Earnings Per Unit(1) EBITDA(1) Quarter for TGP Focus on fixed-rate contracts maximizes LNG Fleet…
Financial Results Continue to Improve TGPs 3.5 billion growth program was completed in Adjusted Net Income(1) Dec. 2019 Total Adjusted EBITDA(1) 200.0 60.0 Total Adjusted EBITDA and Adjusted Net Income continue 180.0 50.0 to increase…
Long-Term Contract Coverage With High Quality Customers Current Charter Terms - Consolidated LNG Fleet Average Total Fleet Age: 9.5 years(1) Ownership Propulsion Charterer 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Teekay LNGs…
Long-Term Contract Coverage With High Quality Customers Current Charter Terms - Joint Venture LNG Fleet Average Total Fleet Age: 9.5 years Ownership Propulsion Charterer 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 LNG fleet…
TGP is Fully Fixed For the Remainder of 2020 At Nearly 80,000/day Peak winter demand and lack LNGC Spot Rates of supply tightened the 200,000 shipping market in Q4-19 180,000 2019 spot rates averaged 69,350/day 160,000 Milder winter…
Impact of COVID-19 on LNG Trade Flows Major LNG markets have been No. of daily cargoes No. of daily cargoes impacted by COVID-19 and short-term demand recoveries have been volatile and unpredictable Europe continues to be a…
LNG Trade Rebounding with Firming Gas Prices Natural Gas Prices by region After high levels of US cargo /mmbtu Shipping costs 40,000 / day cancellations in June, July and 14 0.22 August, 40% fewer 0.98 cancellations registered for…
Largest and Most Total Forward Fee-Based Revenues Total Forward Adj. EBITDA (excl. extension options) (1) (excl. extension options) (1) Diversified Portfolio of Long-term LNG 99% Contracts 99% Existing portfolio of long-term, 9.3B…
Balanced Capital Allocation Plan Update Delever Return Capital Disciplined Balance Sheet to Unitholders Growth Target Net Debt / Total Sustainable, Flexible Focused on Core Assets Adj. EBITDA: 4.5x 5.5x and Value-Focused and…
Leverage and Liquidity 9.0x 700 TGPs Financial 8.0x 600 Position Continues to 7.0x 500 Strengthen 6.0x 400 Leverage continues to decline 5.0x 300 which benefits all stakeholders 4.0x 200 Strong liquidity balance 3.0x 100 provides…
Appendix
Adjusted Net Income(1) Adjusted EBITDA(1) 300 TGP Represents a 800 Compelling 250 +48% 700 Investment in Todays 600 millions Uncertain Markets 200 500 Total (Prop. Consol.) millions 9.3 billion of forward fee- 150 +92% 400…
TGP Detailed EV/EBITDA Calculation In millions except ratios and per unit data Proporitionately Consolidated EV/EBITDA Calculation Consolidated Cash 292.5 June 30, 2020 Balance Sheet Proportionate share of J/V cash 230.3 June 30, 2020…
Teekay LNG Adjusted Net Income (Thousands of U.S. Dollars except units outstanding or Q2-2020 Q1-2020 Q2-20 vs. Q1-20 unless otherwise indicated) Comments Net voyage revenues 142,876 137,570 Increased due to reduction in operational…
Reconciliations of Non-GAAP Financial Measures Q2-20 vs. Q1-20 17
Q3-2020 Outlook Q3 2020 Outlook Adjusted Net Income (compared to Q2 2020) Net voyage revenues 2M decrease due to a scheduled drydocking of an LNG carrier in Q3-20 Vessel operating expenses 4M increase primarily due to timing of…
2020(E) Drydock Schedule *NOTE: In the case that a vessel's off-hire days straddles between quarters, the quarter with the majority of off-hire days will have the vessel allocated to it (A) Actual (E) Estimate
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