Teekay Tankers Q1-2020 Earnings Presentation May 21, 2020
Forward Looking Statement This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect managements current views with respect to certain future events…
Recent Highlights Highest Results in Strengthening our Tanker Market More than 10 Years Balance Sheet Total adjusted EBITDA(1) of 155.4 Generated over 140 million of free Mid-size tanker spot rates in Q1-20 million, up 22.6 million…
Operating in a COVID-19 Environment Protecting the health and Focus on Safety and Operations Continue Maintenance safety of our seafarers and Health of our Crew to Perform Efficiently Management onshore staff while ensuring business…
Rates in Q1-20 the Highest in Over 10 Average Mid-Size TCEs Crude Tanker Floating Storage(1) Years Suezmax Aframax 70 120 Elevated supply in March and VLCC Suezmax Aframax April due to Russia / Saudi 60 price war, collapse in oil 100…
TNK Securing Fixed- Rate Coverage at Time TNK Out-Charters vs. TC Rates Charter Market Peaks Suezmax 1-year TC rate Aframax 1-year TC rate 55 10 Suezmaxes and 3 Aframax Suezmax Time Charter Aframax Time Charter 6 months sized vessels…
Medium-Term Uncertainty, but Relative Orderbook Size vs. Tanker Rates Lower Fleet Growth 60 60% Than in Prior Cycles Potential for a period of destocking as oil markets 50 50% normalize, however Orderbook as % of Fleet Tanker…
Significantly Improved Financial Strength Generated over 140 million of Net Debt(1) and Liquidity free cash flow(2) in Q1-20 and completed 60 million in asset 1,000 sales Net debt reduced by over Net debt reduced by 60 20% from Q4-19…
Continuing to Create Free Cash Flow(3) FCF(3)(4) Spot Rate Sensitivity Significant Next 12 Months(5) Shareholder Value 150 800 Annualized Q1-2020 free cash flow yield of approximately 700 100% based on current share 125 price(1) 600…
Executing on our Strategic Priorities Continue to execute on our strategic priorities despite 2020 Strategic Priorities Execution to-date operating in COVID-19 environment Maintain significant spot exposure 80% of the fleet trading in…
Appendix 12
Debt Repayment Profile Debt Repayment Profile (1,2) 250 200 148 150 Millions 71 100 50 110 97 88 85 29 0 2020 2021 2022 2023 2024 Repayments incl. Capital Lease Balloon Payments (1) Excludes working capital loan…
Q2-20 Outlook Income Statement Item Q2-20 Outlook(1) (expected changes from Q1-20) Decrease of approximately 220 net revenue days, mainly due to the sale of three vessels and the redelivery of two chartered-in vessels in Q1-20, as…
(In thousands of U.S. dollars) Adjusted Net Income1 Q1-2020 Q4-2019 Statement Item Variance Comments Q1-20 vs Q4-19 (unaudited) (unaudited) Revenues 341,851 327,932 13,919 Increase primarily due to higher overall spot TCE rates in…
Consolidated Adjusted Statement of (In thousands of U.S. dollars) Income Statement Item As Reported Appendix A Items Reclassification for As Adjusted Q1-20 (1) Realized Gain/ Loss on Derivatives Revenues 341,900 - (49) 341,851…
Drydock & Off-hire Schedule(1)(2)(3) Teekay Tankers March 31, 2020 (A) June 30, 2020 (E) September 30, 2020 (E) December 31, 2020 (E) Total 2020 Total Total Total Total Total Vessels Off-hire Vessels Off-hire Vessels Off-hire Vessels…
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