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05/17TRANSCRIPT : Danaos Corporation, Q1 2022 Earnings Call, May 17, 2022
05/16DANAOS : Q1 Earnings Snapshot
05/16Danaos Posts Higher Q1 Earnings, Revenue
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Danaos : Corporate Presentation

02/16/2021 | 07:41am EDT

February 2021

Strictly Private and Confidential


This presentation contains certain statements that may be deemed to be "forward-looking statements" within the meaning of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future, including, without limitation, the outlook for fleet utilization and shipping rates, general industry conditions including bidding activity, future operating results of the Company's vessels, future operating revenues and cash flows, capital expenditures, vessel market values, asset sales, expansion and growth opportunities, bank borrowings, financing activities and other such matters, are forward-looking statements. Although the Company believes that its expectations stated in this presentation are based on reasonable assumptions, actual results may differ from those projected in the forward-looking statements. Important factors that could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies, general market conditions, including charter rates and vessel values, counterparty performance under existing charters, changes in operating expenses, ability to obtain financing and comply with covenants in financing arrangements, including the terms of its new credit facilities and agreements entered into in connection with the refinancing, the affects of the refinancing transactions and the Company's ability to achieve the benefits of the refinancing, actions taken by regulatory authorities, potential liability from litigation and international political conditions. Danaos Corporation is listed in the New York Stock Exchange under the ticker symbol "DAC". Before you invest, you should also read the documents Danaos Corporation has filed with the SEC for more complete information about the company. You may get these documents for free by visiting EDGAR on the SEC Website atwww.sec.govor via www.danaos.com

Readers of this presentation should review our Annual Report on Form 20-F filed with the SEC on February 27, 2020, including the section entitled "Key Information - Risk Factors", and our other filings with the SEC for a discussion of factors and circumstances that could affect our future financial results and our ability to realize the expectations stated herein.

EBITDA, Adjusted EBITDA, Adjusted Net Income, Adjusted EPS and Free Cash Flow may be included in our presentations. EBITDA, Adjusted EBITDA, Adjusted Net Income, Adjusted EPS and Free Cash Flow are presented because they are used by management and certain investors to measure a company's financial performance and underlying trends as they exclude certain items impacting overall comparability. EBITDA, Adjusted EBITDA, Adjusted Net Income, Adjusted EPS and Free Cash Flow are "non-GAAP financial measures" and should not be considered a substitute for net income, cash flow from operating activities and other operations or cash flow statement data prepared in accordance with accounting principles generally accepted in the United States or as a measure of profitability or liquidity. Reconciliations to GAAP measures are included in the Appendix to this presentation.

Certain shipping industry information, statistics and charts contained herein have been derived from industry sources. You are hereby advised that such information, statistics and charts have not been prepared specifically for inclusion in this presentation and the Company has not undertaken any independent investigation to confirm the accuracy or completeness of such information.

Business Highlights

Key Business Highlights

  • One of the largest publicly-listed owners of modern containerships with 40+ year history in theshipping market

  • One of the most efficient operators in the industry with highly competitive breakeven levels

  • Management aligned through 46% ownership of stock

  • Charter backlog of $1.2 billion through to 20281 with world leading liner companies provides good cash flow visibility

  • Strong operating days contract coverage of 91% for the next 12 months limits downside risk and provides potential for further upside in the current market environment

  • A leader in ship management innovation, through the award-winning WAVES data analytics platform

  • Danaos has met the IMO 2030 carbon intensity targets 11 years ahead of requirements, by achieving a 41.5% reduction in CO2 emissions per ton miles for year 2019 compared with base year 2008

  • Adjusted Net Debt / EBITDA ratio of 4.5x and consistent reduction in leverage

  • Going forward financial covenants in line with conservative operating expectations

  • The transformation of the capital structure with the contemplated refinancing will release significant net cash flow generation post the refinancing

  • A significant recovery in container trade in 2H 2020 is expected to continue, supporting demand for container vessels

  • Historically low order book for new vessels and sustained reduction in idle capacity supports the recent increases in time charter rates.

(1) Contracted Revenue as of December 31, 2020, on the basis of concluded charter contracts through February 15, 2021.

This is an excerpt of the original content. To continue reading it, access the original document here.


Danaos Corporation published this content on 16 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2021 12:40:02 UTC.

© Publicnow 2021
05/17TRANSCRIPT : Danaos Corporation, Q1 2022 Earnings Call, May 17, 2022
05/16DANAOS : Q1 Earnings Snapshot
05/16Danaos Posts Higher Q1 Earnings, Revenue
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Financials (USD)
Sales 2022 874 M - -
Net income 2022 446 M - -
Net Debt 2022 689 M - -
P/E ratio 2022 3,81x
Yield 2022 3,68%
Capitalization 1 691 M 1 691 M -
EV / Sales 2022 2,72x
EV / Sales 2023 1,90x
Nbr of Employees 4
Free-Float 9,39%
Duration : Period :
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Technical analysis trends DANAOS CORPORATION
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 4
Last Close Price 81,63 $
Average target price 122,50 $
Spread / Average Target 50,1%
EPS Revisions
Managers and Directors
John Coustas Chairman, President & Chief Executive Officer
Evangelos Chatzis Chief Financial Officer & Secretary
Dimitris Vastarouchas Technical Director & Deputy COO
Iraklis Prokopakis COO, Treasurer, Director & Senior Vice President
Myles R. Itkin Independent Director
Sector and Competitors