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

As GasLog stated in the final prospectus filed April 2, 2012 for its IPO, the ramp-up of general and administrative expenses is expected to exceed revenue growth in 2012, as GasLog’s newbuildings will only commence delivery in 2013. Accordingly, GasLog expects 2012 profit will be lower than in 2011.

For a detailed discussion of GasLog’s financial results for the quarter ended March 31, 2012, please refer to the Financial Report for the Three Months Ended March 31, 2012, furnished on Form 6-K to the United States Securities and Exchange Commission (the “Q1 6-K”).

Operating Results

The following table highlights certain financial information for GasLog’s two segments, the vessel ownership segment and the vessel management segment, for the quarters ended March 31, 2012 and 2011. Unaudited Interim Financial Statements are attached as Exhibit I.


In thousands of U.S. Dollars


Vessel Ownership Segment


Vessel Management Segment

      Unallocated / Eliminations       Total

Three Months Ended March 31, 2011


Three Months Ended March 31, 2012


Three Months Ended March 31, 2011


Three Months Ended March 31, 2012


Three Months Ended March 31, 2011


Three Months Ended March 31, 2012


Three Months Ended March 31, 2011


Three Months Ended March 31, 2012


Revenue fromexternal customers

$13,701 $13,992 $2,585 $2,610 - - $16,286 $16,602
Profit / (loss) $5,762 $5,931 $661 ($234) ($1,412) ($3,525) $5,011 $2,171

EBITDA (ExhibitII)

$11,218 $12,059 $703 ($151) ($1,395) ($3,493) $10,525 $8,414

Earnings per share –basic and diluted

                                                      0.13       0.06

Contracted Charter Revenues

GasLog’s contracted charter revenues are estimated to increase from $56 million for the full year 2012 to $210 million for the full year 2015, based on contracts in effect as of March 31, 2012 for the eight ships in GasLog’s owned fleet for which time charters have been secured, including contracts for six newbuildings that are scheduled to be delivered on various dates in 2013 and 2014. For further details please refer to the Q1 6-K.

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