As shown on page 2 of the presentation, many of our remarks this afternoon contains forward-looking statements. Let me refer you to our second quarter 2012 results press release and our reports filed with the SEC where you will find factors that could cause actual results to differ materially from these forward looking statements. In addition, some of our remarks this afternoon contain non-GAAP financial measures as defined by the SEC. A reconciliation of the non-GAAP financial measures to the most comparable GAAP measures is attached as an annex to this presentation.
Today’s call is set to end at 2:30 p.m. London time, 9:30 a.m. Eastern time. In order to maximize participation opportunities on the call please limit your questions to one with one follow-up question.
If we now turn to Slide 3, the agenda for the presentation and I will turn the call over to Peter Livanos, GasLog’s Chairman of the board and Chief Executive Officer.
Peter LivanosThank you Thor. On today’s call, I’ll provide you with an overview of our second quarter 2012 highlights and performance. Henrik will then review the second quarter 2012 financial results and provide a summary of our committed charter revenue picture. I will then present a short review of our fleets and charter information followed by an update on the LNG market and we’ll conclude with prepared comments with a strategic update on our business and it’s position within the industry prior to the Q&A.Please turn to Slide 4 of the presentation for the highlights. We’re pleased with the performance of our business this quarter. Our operating result is in line with our expectation and the LNG shipping industry outlook remains positive, the strong fundamentals for the foreseeable future presenting exciting opportunities for GasLog. We’re reporting an adjusted EBITDA of $8.4 million for the quarter which was better than expected and reflects the continued full deployment of the delivered fleet.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV