Global Ship Lease Inc New · NYSE:GSL

Global Ship Lease Inc New — Global Ship Lease — Q1 2012 Earnings Presentation

16 slides from Global Ship Lease Inc New's earnings presentation, 2012

  1. Slide 1: First Quarter 2012 Presentation

    First Quarter 2012 Presentation 0

  2. Slide 2: Safe Harbor Statement

    Safe Harbor Statement This communication contains forward-looking statements. Forward-looking statements provide Global Ship Lease’s current expectations or forecasts of future events. Forward-looking statements include statements about Global Ship Lease’s expectations, beliefs, plans, objectives, i

  3. Slide 3: Disclaimer

    Disclaimer The financial information and data contained in this communication is unaudited and does not conform to the U.S. Securities and Exchange Commission Regulation S-X. Accordingly, such information and data may not be included in, may be adjusted in or may be presented differently in, Global

  4. Slide 4: Global Ship Lease: Q1 2012 Highlights

    Global Ship Lease: Q1 2012 Highlights Continued to generate stable revenues and cash flows:  Reported revenue of $38.4 million for first quarter 2012  Generated EBITDA of $25.2 million for first quarter 2012  Excluding non-cash mark-to-market gain, normalized net income was $5.3 million for first

  5. Slide 5: GSL Performance: Robust Performance Throughout the Cycle

    Robust Performance Throughout the Cycle Market Timecharter Index 250 Timecharter Rate Index Average Jan-2008 Through Mar-2012 Market Cycle 200 150 100 50 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2008 2008 2008 2008 2009 2009 2009 2009 2010 2010 2010 2010 2011 2011 2011 2011 2012 GSL Perf

  6. Slide 6: Fleet and Charter Portfolio: significant forward coverage

    Fleet and Charter Portfolio: significant forward coverage  Average remaining contract term of 8.1 years on a weighted basis Ville d'Aquarius 4,113 TEU  Contracted revenue of $1.2 billion Ville d'Orion 4,113 TEU  Limited near-term expirations, only two CMA CGM Matisse 2,262 TEU charters scheduled

  7. Slide 7: Pricing Discipline is Improving Environment for Liner Operators

    Pricing Discipline is Improving Environment for Liner Operators Upward Momentum on Freight Rates Commentary  1Q 2012 liner results released to date have been poor  However, operators are putting in place General Rate Increases (GRIs) – Successfully implemented on major East/West trades Fuel Costs

  8. Slide 8: Market Dynamics Shaped by Fundamentals over Long Term

    Market Dynamics Shaped by Fundamentals over Long Term Year-Over-Year Growth (%) Time Charter Index 20% 300 16.6% 15% 13.8% 250 13.4% 13.1% 12.8% 12.0% 11.6% 11.4% 11.2% 11.4% 10.5% 10.5% 10.6% 10.8% 9.8% 9.7% 10% 8.8% 200 8.1% 7.6% 7.9% 7.5% 6.9% 7.1% 6.8% 4.8% 5.2% 5.3% 5.3% 4.9% 4.6% 4.9% 5% 3.6%

  9. Slide 9: Mid-Size and Smaller Vessels Deployed in Higher Growth Trades

    Mid-Size and Smaller Vessels Deployed in Higher Growth Trades 2011 Global Containerized Trade ~151 mm TEU Estimated Containerized Trade Growth, by Tradelane³ 12.0% 2011 2012 2013 8.5% 9.1% 10.0% 8.0% 7.1% Transpacific, 8.0% 3.2% 5.8% 14% 3.4% 6.0% Other², 39% Far East- 4.0% Europe, 13% 2.0% 0.0% Tra

  10. Slide 10: Mid and Smaller Size Vessels: Flexible Tonnage in Under-Built Segments

    Mid and Smaller Size Vessels: Flexible Tonnage in Under-Built Segments Existing Fleet: 15.7 mm TEU Orderbook: 3.9 mm TEU Orderbook as % of Fleet Segment 10,000+ 2,000 - Sub-2,000 120% 110% TEU, 11% 2,999 TEU, TEU, 3% 2% 100% Sub-2,000 3,000 - TEU, 16% 5,099 TEU, 80% 2,000 - 2,999 TEU, 11% 16% 10,000

  11. Slide 11: Q1 2012 Financials

    oF GLOBAL SHIP LEASE Financials

  12. Slide 12: Financial Results (unaudited)

    Financial Results (unaudited) Three months ended March 31, 2012 2011 Operating Revenues $38,350 $39,104 Operating Expenses Vessel operating expenses 11,657 11,043 Depreciation 9,969 9,949 General and administrative 1,593 1,942 Other operating income (68) (106) Total operating expenses 23,151 22,828

  13. Slide 13: Balance Sheet (unaudited)

    Balance Sheet (unaudited) March 31, Decem ber 31, 2012 2011 Assets Cash and cash equivalents $ 30,144 $ 25,814 Restricted cash 3,027 3,027 Accounts receivable 13,999 13,911 Prepaid expenses 853 726 Other receivables 1,036 839 Deferred tax 34 19 Deferred financing costs 1,184 1,168 Total current asse

  14. Slide 14: Cash Flow (unaudited)

    Cash Flow (unaudited) Three months ended March 31, 2012 2011 Cash Flows from Operating Activities Net income $ 7,950 $ 10,839 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities Depreciation 9,969 9,949 Amortization of deferred financing costs 314 269 Change in fair valu

  15. Slide 15: Concluding Remarks

    Concluding Remarks  GRI initiatives are expected to improve liner profitability from 2Q 2012  GSL business model and contract coverage insulate revenues from direct impact of volatile freight markets  No exposure to financing or re-financing risk until 2016  Able to use cash flow to pay down deb

  16. Slide 16: Global Ship Lease

    GLOBAL SHIP LEASE

Global Ship Lease — Q1 2012 Earnings Presentation on 6ix