Pangaea Logistics Solutions Ltd. · NASDAQ:PANL
Pangaea Logistics Solutions — Q1 2017 Earnings Presentation
8 slides from Pangaea Logistics Solutions's earnings presentation, May 10, 2017
Slide 1: First Quarter 2017 Results
First Quarter 2017 Results March 2017
Slide 2: Safe Harbor
2 Safe Harbor This presentation includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Pangaea’s and mana
Slide 3: First Quarter 2017 Highlights
3 First Quarter 2017 Highlights • Net income attributable to Pangaea of $1.3 million for the quarter, even as the Company recorded a nonrecurring loss on the sale and simultaneous charterback of the m/v Bulk Destiny ("Bulk Destiny"). • Pangaea's TCE rates increased 12% and total shipping days increa
Slide 4: Financial Performance Q2 2016 through Q1 2017
4 Financial Performance Q2 2016 through Q1 2017 1) Adjusted EBITDA is a non-GAAP measure and represents income or loss from operations before depreciation and amortization, loss on sale and leaseback of vessel, and when applicable, loss on impairment of vessels and certain non-recurring items. 2) TC
Slide 5: Drivers of Q1 2017 Performance
5 • The Baltic Dry Index, a measure of dry bulk market performance, increased over 150% from Q1 2016 to Q1 2017. • The average number of operated vessels increased to 48, up from the Q1 2016 average of 31. • The Company’s unique business model means we are not limited to our owned fleet and allows u
Slide 6: Defensible Pillars of Profitability
6 Defensible Pillars of Profitability • Execution specialization: - Material cost savings & enhanced profit through granular operating knowledge & risk sensitive approach - Secured & defended by 200+ years of expertise & embedded relationships; key managers average over 20 years in the industry • Ba
Slide 7: Selected Income Statement Data
7 Selected Income Statement Data 2017 2016 (unaudited) (unaudited) Revenues: Voyage revenue 77,688,449$ 41,974,319$ Charter revenue 6,766,671$ 1,963,200$ 84,455,120 43,937,519 Expenses: Voyage expense 41,271,919 18,500,882 Charter hire expense 23,201,155 8,503,174 Vessel operating expenses 8,591,243
Slide 8: Selected Balance Sheet and Cash Flow Data
8 Selected Balance Sheet and Cash Flow Data March 31, 2017 December 31, 2016 Current Assets (unaudited) Cash and cash equivalents 21,721,830$ 22,322,949$ Accounts receivable, net 22,653,254 20,476,797 Other current assets 29,672,051 25,744,520 Total current assets 74,047,135 68,544,266 Fixed assets
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