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GasLog Ltd. Reports Financial Results For The Quarter Ended June 30, 2012

EBITDA, Adjusted EBITDA, Adjusted Profit/(loss) and Adjusted EPS have limitations as analytical tools and should not be considered as alternatives to, or as substitutes for, profit, profit from operations, earnings per share or any other measure of financial performance presented in accordance with IFRS. These non-GAAP financial measures exclude some, but not all, items that affect profit, and these measures may vary among companies. In evaluating Adjusted EBITDA, Adjusted Profit/(loss) and Adjusted EPS, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in this presentation. Our presentation of Adjusted EBITDA, Adjusted Profit/(loss) and Adjusted EPS should not be construed as an inference that our future results will be unaffected by the excluded items. Therefore, the non-GAAP financial measures as presented below may not be comparable to similarly titled measures of other companies in the shipping or other industries.

Reconciliation of EBITDA and Adjusted EBITDA to Profit/(loss) for the three month periods ended:

         
( All amounts expressed in U.S. Dollars)

 

 

June 30, 2012

 

Vessel Ownership Segment

 

Vessel Management segment

 

Unallocated/

Eliminations

 

 

 

Total

 

 
Profit/(loss) for the period 166,116 (326,326 ) (3,391,917 ) (3,552,127 )
Depreciation of fixed assets 3,135,874 80,387 33,362 3,249,623
Financial costs 2,926,744 14,658 4,248 2,945,650
Financial income (62,573 ) (6 ) (381,280 ) (443,859 )

 

 

 

 

EBITDA 6,166,161 (231,287 ) (3,735,587 ) 2,199,287
Loss on interest rate swaps, net 5,348,349

5,348,349

Foreign exchange differences 414,969     404,188   819,157  

 

 

 

 

Adjusted EBITDA 11,929,479  

(231,287

)

(3,331,399 )

8,366,793

 

 

 

 

 

 

 

June 30, 2011

 

Vessel Ownership Segment

 

Vessel Management segment

 

Unallocated/

Eliminations

 

 

 

Total

 

 
Profit/(loss) for the period 5,884,118 571,454 (1,981,930 ) 4,473,642
Depreciation of fixed assets 3,153,104 35,500 14,726 3,203,330
Financial costs 2,339,567 8,670 2,043 2,350,280
Financial income (3,927 ) (1,875 )   (5,802 )

 

 

 

 

EBITDA 11,372,862 613,749 (1,965,161 ) 10,021,450
Foreign exchange differences (26,984 )

  (19,275 )

(46,259

)

 

 

 

 

Adjusted EBITDA 11,345,878

613,749

  (1,984,436 )

9,975,191

 
 

Reconciliation of Adjusted Profit/(loss) to Profit/(loss) for the three month periods ended:

         
June 30, 2012
( All amounts expressed in U.S. Dollars)

 

Vessel Ownership Segment

 

Vessel Management segment

 

Unallocated/

Eliminations

 

 

 

Total

 

 
Profit/(loss) for the period 166,116 (326,326 ) (3,391,917 ) (3,552,127 )
Loss on interest rate swaps, net 5,348,349

5,348,349
Foreign exchange differences 414,969     404,188   819,157  

 

 

 

 

Adjusted Profit/(loss) attributable to owners of the Group 5,929,434  

(326,326

)

(2,987,729 )

2,615,379

 

 

 

 

 

June 30, 2011

 

Vessel Ownership Segment

 

Vessel Management segment

 

Unallocated/

Eliminations

 

 

 

Total

 

 
Profit/(loss) for the period 5,884,118 571,454 (1,981,930 ) 4,473,642
Foreign exchange differences (26,984 )   (19,275 )

 

(46,259 )

 

 

 

 

Adjusted Profit/(loss) 5,857,134

571,454

(2,001,205 )

4,427,383

Non-controlling interest 178,490 178,490
       

 

 

 

 

Adjusted Profit/(loss) attributable to owners of the Group 6,035,624   571,454   (2,001,205 ) 4,605,873  
 

Reconciliation of Adjusted Earnings Per Share (EPS) to Earnings/(loss) per Share (EPS) for the three month periods ended:

                       
( All amounts expressed in U.S. Dollars)  
June 30, 2011 June 30, 2012

 

 

 
Profit/(loss) for the period attributable to owners of the Group 4,652,132 (3,552,127 )
Earnings/(loss) allocated to manager shares and subsidiary manager shares 404,736 (5,578 )

 

 

Earnings/(loss) attributable to the owners of common shares used in the calculation of basic EPS 4,247,396 (3,546,549 )
Weighted average number of shares outstanding 35,700,000 61,721,614  

 

 

EPS 0.12 (0.06 )

 

 

Adjusted profit for the period attributable to owners of the Group 4,605,873 2,615,379
Adjusted earnings allocated to manager shares and subsidiary manager shares 400,712 4,107  

 

 

Adjusted earnings attributable to the owners of common shares used in the calculation of basic EPS 4,205,161 2,611,272
Weighted average number of shares outstanding 35,700,000 61,721,614  

 

 

Adjusted EPS 0.12 0.04  




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