Fourth Quarter & Full Year 2024 Financial Results Presentation Seanergy Maritime Holdings Corp. Important Disclosures This document contains forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding the Company's management's expectations, hopes, beliefs, intentions or strategies regarding the future and other statements that are other than statements of historical fact, including with respect to market trends, vessels we have agreed to acquire and pending ...

Core Viewpoint - Seanergy Maritime Holdings Corp (SHIP) reported quarterly earnings of $0.34 per share, exceeding the Zacks Consensus Estimate of $0.28 per share, but down from $0.58 per share a year ago, indicating a 21.43% earnings surprise [1] Group 1: Earnings Performance - The company has surpassed consensus EPS estimates for four consecutive quarters [2] - Seanergy Maritime Holdings posted revenues of $41.68 million for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 2.76%, compared to $39.43 million in the same quarter last year [2] Group 2: Stock Performance and Outlook - Seanergy Maritime Holdings shares have declined approximately 0.7% since the beginning of the year, mirroring the S&P 500's decline of -0.7% [3] - The company's earnings outlook is uncertain, with current consensus EPS estimates at -$0.30 on $27.14 million in revenues for the upcoming quarter and $0.99 on $149.65 million in revenues for the current fiscal year [7] Group 3: Industry Context - The Transportation - Shipping industry, to which Seanergy Maritime Holdings belongs, is currently ranked in the bottom 15% of over 250 Zacks industries, which may negatively impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that the company's current Zacks Rank of 4 (Sell) indicates expected underperformance in the near future [5][6]

Financial Data and Key Metrics Changes - The company reported a record net income of $43.5 million for 2024, a significant increase from $2.3 million in 2023, marking the fourth consecutive year of profitability [4][16] - Total revenue for 2024 surged to $167.5 million, up 50% year-over-year, with adjusted EBITDA reaching $98.4 million [16][18] - Earnings per share increased to $2.12 from $0.12 in the previous year [16] Business Line Data and Key Metrics Changes - The company achieved a daily time charter equivalent (TCE) of $23,200 in Q4 2024, with an annual TCE of $25,100, outperforming the Baltic Capesize Index by 2711% [10][16] - The fleet expanded to 21 vessels with a total capacity of 3.8 million deadweight tons, focusing on Capesize and Newcastle Max vessels [6][13] Market Data and Key Metrics Changes - The Capesize market averaged $22,400 per day in 2024, up from $16,600 in 2023, with a notable decline in Q4 to $18,300 due to reduced Brazilian iron ore exports [26][27] - Capesize tonne mile demand grew by approximately 4% in 2024, driven by higher seaborne iron ore shipments [27] Company Strategy and Development Direction - The company focuses on balancing capital returns, fleet growth, and financial discipline to maximize shareholder value [4][9] - The strategic fleet expansion includes the acquisition of high-quality vessels at attractive valuations, reinforcing cash flow generation potential [7][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the Capesize market's long-term fundamentals, citing robust demand for iron ore, bauxite, and coal [8][29] - The company anticipates EBITDA for 2025 to reach approximately $80 million, with potential to exceed $100 million in favorable scenarios [18][24] Other Important Information - The company declared a cash quarterly dividend of $0.1 per share, totaling $15.6 million in distributions for 2024 [5] - The company successfully completed $174 million in financing and refinancing transactions, maintaining moderate leverage levels [19][20] Q&A Session Summary Question: What created the steep short-term rebound in Capesize rates? - Management indicated that the rebound was not due to Capesize segment fundamentals but rather a reduction in congestion in the Kamsarmax market, which had previously cannibalized Capesize cargoes [36][40] Question: Are the one-time expenses related to OpEx and SG&A behind the company? - Management expects OpEx to remain stable at around $7,000 per vessel per day, while SG&A is projected to range from $1,500 to $2,000 per vessel per day, excluding litigation costs [42][43] Question: What are the expectations for off-hire days during dry docking? - Management anticipates around 20 to 25 off-hire days per vessel during dry docking, with potential unforeseen delays due to congestion in shipyards [51] Question: What is the outlook for Capesize vessel rates? - Management remains optimistic about the fundamentals of the Capesize market, despite potential impacts from geopolitical factors, emphasizing strong demand for raw materials [54][70] Question: Is there any new building activity for vessels? - Management noted that new building activity is very limited, with no new orders placed year-to-date, and existing shipyard slots are fully booked until mid-2028 [62]

Core Viewpoint - Seanergy Maritime Holdings Corp. is set to release its financial results for Q4 and the full year of 2024 on March 6, 2025, before the market opens in New York [1][2]. Company Overview - Seanergy Maritime Holdings Corp. is a leading pure-play Capesize shipping company listed in the U.S. [5] - The company operates a modern fleet consisting of 21 vessels, including 2 Newcastlemax and 19 Capesize vessels, with an average age of approximately 13.7 years and a total cargo carrying capacity of about 3,803,918 dwt [5]. - The company is incorporated in the Republic of the Marshall Islands and has its executive offices in Glyfada, Greece [6]. Conference Call Details - A conference call and simultaneous Internet webcast will be held on March 6, 2025, at 09:00 a.m. Eastern Time to discuss the financial results [2]. - Participants can register for the call through a provided link and access the live and archived webcast on the company's website [3][4].

Core Viewpoint - Seanergy Maritime Holdings Corp is facing a significant decline in expected earnings per share (EPS) while showing a slight increase in revenue, indicating mixed financial performance ahead [2][5]. Group 1: Stock Performance - The stock closed at $6.95, reflecting a -0.86% change from the previous trading day, which is worse than the S&P 500's loss of 0.5% [1]. - Over the past month, the stock has increased by 0.14%, contrasting with the Transportation sector's loss of 2.68% and the S&P 500's loss of 0.47% [1]. Group 2: Earnings Estimates - The upcoming earnings report is expected to show an EPS of $0.28, which is a 51.72% decrease from the same quarter last year [2]. - Revenue is anticipated to be $40.56 million, reflecting a 2.86% increase compared to the prior year [2]. Group 3: Analyst Estimates and Rankings - Recent revisions to analyst estimates indicate a 75.16% decrease in the Zacks Consensus EPS estimate over the last 30 days, resulting in a Zacks Rank of 4 (Sell) for the company [5]. - Positive revisions in estimates generally reflect analysts' confidence in the company's business performance and profit potential [3]. Group 4: Valuation Metrics - The company has a Forward P/E ratio of 7.12, which is lower than the industry average of 8.97, suggesting that the stock may be trading at a discount [6]. - The Transportation - Shipping industry, to which the company belongs, holds a Zacks Industry Rank of 197, placing it in the bottom 22% of over 250 industries [6].

Company Performance - Seanergy Maritime Holdings Corp (SHIP) closed at $6.92, with a daily increase of +0.14%, outperforming the S&P 500's gain of 0.03% [1] - Over the last month, the company's shares decreased by 2.54%, lagging behind the Transportation sector's gain of 5.12% and the S&P 500's gain of 4.19% [1] Upcoming Earnings - The upcoming earnings release is anticipated, with expected EPS of $0.28, reflecting a significant decline of 51.72% from the prior-year quarter [2] - Quarterly revenue is projected to be $40.56 million, which is an increase of 2.86% compared to the year-ago period [2] Analyst Estimates - Recent changes in analyst estimates indicate a favorable outlook on the company's business health and profitability [3] - The Zacks Consensus EPS estimate has seen a substantial decrease of 75.16% over the last 30 days, leading to a Zacks Rank of 4 (Sell) for the company [5] Valuation Metrics - Seanergy Maritime Holdings Corp is currently trading at a Forward P/E ratio of 7.02, which is lower than the industry's average Forward P/E of 9.15 [6] - The Transportation - Shipping industry holds a Zacks Industry Rank of 235, placing it in the bottom 7% of over 250 industries [6] Industry Insights - The Zacks Industry Rank measures the strength of industry groups based on the average Zacks Rank of individual stocks, with top-rated industries outperforming the bottom half by a factor of 2 to 1 [7]

Company Performance - Seanergy Maritime Holdings Corp's stock closed at $6.96, reflecting a +0.94% change from the previous trading day's close, outperforming the S&P 500's loss of 0.47% [1] - Over the past month, shares have depreciated by 0.86%, underperforming the Transportation sector's gain of 4.36% and the S&P 500's gain of 1.67% [1] Earnings Projections - The upcoming EPS for Seanergy Maritime Holdings Corp is projected at $0.39, indicating a 32.76% decline compared to the same quarter last year [2] - Revenue is expected to be $40.2 million, reflecting a 1.96% increase compared to the year-ago quarter [2] Analyst Estimates - Recent changes to analyst estimates for Seanergy Maritime Holdings Corp indicate short-term business trends, with positive revisions suggesting analyst optimism about the company's profitability [3] - The Zacks Rank system, which assesses these estimate changes, provides actionable ratings based on the correlation between estimate revisions and share price momentum [4] Zacks Rank and Valuation - Seanergy Maritime Holdings Corp currently holds a Zacks Rank of 3 (Hold), with no changes in the consensus EPS estimate over the past month [5] - The company is trading at a Forward P/E ratio of 3.66, which is below the industry average Forward P/E of 8.12 [6] Industry Context - The Transportation - Shipping industry, to which Seanergy Maritime Holdings Corp belongs, has a Zacks Industry Rank of 243, placing it in the bottom 4% of over 250 industries [6] - The Zacks Industry Rank measures the strength of industry groups, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [7]

Core Viewpoint - Seanergy Maritime Holdings Corp. has announced the acquisition of two Japanese-built vessels, a Newcastlemax and a Capesize, for a total cost of approximately $69.0 million, marking a significant step in the company's fleet expansion strategy [1][5][6]. Vessel Acquisitions - The Newcastlemax vessel, built in 2013, has a cargo capacity of approximately 207,851 deadweight tons (dwt) and will be renamed "Meiship," with expected delivery in the first quarter of 2025 [2]. - The Capesize vessel, built in 2011, has a capacity of 178,459 dwt and will be acquired through a 6-month bareboat charter agreement, with a down payment of $4.0 million and a purchase obligation of $22.5 million at the end of the charter period [3]. Financial Aspects - The purchase price for the two vessels will be funded through a combination of cash on hand and proceeds from credit facilities that the company plans to secure [4]. Strategic Implications - The addition of these vessels is expected to enhance Seanergy's operational capabilities and align with its strategic fleet expansion, increasing the total fleet to 21 vessels with an aggregate capacity of approximately 3.8 million dwt [5][7]. - The company anticipates that the timing of these acquisitions is favorable due to higher freight futures expected in the second half of 2025 [6]. Company Overview - Seanergy Maritime Holdings Corp. operates an international shipping business focused on marine dry bulk transportation, currently managing a fleet of 19 Capesize vessels and 1 Newcastlemax vessel, with an average fleet age of 13.8 years [7].

Group 1 - Seanergy Maritime Holdings Corp (SHIP) has an average brokerage recommendation (ABR) of 1.00, indicating a Strong Buy based on recommendations from four brokerage firms, all of which are Strong Buy [2][4] - The ABR should not be the sole basis for investment decisions, as studies show limited success of brokerage recommendations in predicting stock price increases [4][9] - Brokerage firms often exhibit a positive bias in their ratings due to vested interests, leading to a higher number of Strong Buy recommendations compared to Strong Sell [5][9] Group 2 - The Zacks Rank, a proprietary stock rating tool, categorizes stocks from Strong Buy to Strong Sell and is based on earnings estimate revisions, making it a more reliable indicator of near-term stock performance compared to ABR [7][10] - The Zacks Rank is updated more frequently than the ABR, reflecting timely changes in earnings estimates, which are crucial for predicting future stock prices [11] - For Seanergy Maritime Holdings, the Zacks Consensus Estimate for the current year remains unchanged at $2.47, leading to a Zacks Rank of 3 (Hold), suggesting caution despite the Strong Buy ABR [12][13]

Core Insights - Oceania Cruises will introduce its signature French restaurant, Jacques, on its new ship Allura, launching in mid-July 2025, and on its sister ship Vista in October 2025 [1][2][3] Group 1: Restaurant Introduction - Jacques, named after renowned chef Jacques Pépin, will be featured on Allura and Vista, joining other dining options like Polo Grill, Toscana, and Red Ginger [2] - The restaurant aims to enhance the dining experience with new dishes and maintain popular existing options, including classic French desserts [4][5] Group 2: Culinary Leadership - Chef Jacques Pépin, along with Executive Culinary Directors Alexis Quaretti and Eric Barale, will collaborate to innovate the menu while honoring traditional French cuisine [3][4] - The new menu will include dishes such as duck with Grand Marnier-infused orange sauce and veal medallion with morel sauce, alongside vegetarian options [4] Group 3: Dining Experience Enhancements - Jacques will offer tableside service for select dishes, enhancing the authentic Parisian bistro experience with new crockery and glassware [5] - The restaurant's design and service aim to reflect the importance of "l'art de la table" [5] Group 4: Company Overview - Oceania Cruises is recognized as a leading culinary- and destination-focused cruise line, operating eight luxurious ships with a maximum capacity of 1,250 guests [9] - The company offers itineraries that span over 600 ports in more than 100 countries, with voyages ranging from seven to over 200 days [9]