This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

GasLog Ltd. Reports Financial Results For The Quarter Ended March 31, 2012

GasLog Ltd. (GasLog) (NYSE: GLOG), an international owner, operator and manager of liquefied natural gas (“LNG”) carriers, today reported its financial results for the quarter ended March 31, 2012.

Highlights
  • GasLog reports Revenue of $16.6 million, EBITDA of $8.4 million and Profit of $2.2 million, for the first quarter of 2012.
  • GasLog’s budgeted new building program is fully funded, based on initial public offering “IPO”, concurrent private placement and committed debt.
  • The 8 LNG newbuildings are on schedule and within budget.
  • 100% utilization of GasLog Savannah and GasLog Singapore during the first quarter of 2012.
  • 40% of the floating interest rate exposure has been hedged at a weighted average interest rate of approximately 4.4% (including margin) as of March 31, 2012.
  • Continued strong fundamentals for the LNG industry.

Chairman & CEO Statement

Mr. Peter G. Livanos, Chairman and Chief Executive Officer, stated “We were satisfied that the completion of our recent offering has now provided the capital for us to implement the business plan for our committed new ships under construction. In addition to this, and in spite of increased costs related to our becoming a public company, we are pleased to report results that are better than our expectations. Our construction program at Samsung Heavy Industries in Korea is on time and on budget, with the first ship having been launched and undergoing outfitting on schedule for delivery in January 2013. GasLog, with its technical platform and customer relations, continues to be well placed to take advantage of the projected growth in the LNG trade.”

Financial Summary

Revenues were $16.6 million for the quarter ended March 31, 2012 ($16.3 million for the quarter ended March 31, 2011: +1.9% year over year). The increase is mainly attributable to an increase in revenues in the vessel ownership segment, with GasLog’s existing fleet performing at 100% utilization.

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs