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GasLog Ltd. Reports Financial Results For The Quarter Ended September 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)

                                       
September 30, 2012

 

Vessel Ownership

Segment

   

Vessel Management

segment

    Unallocated/

Eliminations

    Total

 

 

 

 

 

 

 

 

Profit/(loss) for the period 3,801,910 676,020 (1,553,936 ) 2,923,994
Depreciation of fixed assets 3,172,789 80,528 35,163 3,288,480
Financial costs 2,874,330 13,889 4,598 2,892,817
Financial income   (56,241 )     (425,024 )   (481,265)

 

 

 

 

 

 

 

 

 
EBITDA 9,792,788 770,437 (1,939,199 ) 8,624,026
 
Loss on interest rate swaps, net 1,746,781 1,746,781
Foreign exchange gains   (300,275 )     (325,516 )   (625,791)

 

 

 

 

 

 

 

 

 
Adjusted EBITDA   11,239,294   770,437   (2,264,715 )   9,745,016
 
                                 
September 30, 2011

 

 

Vessel Ownership

Segment

   

Vessel Management

segment

    Unallocated/

Eliminations

    Total

 

 

 

 

 

 

 

 

Profit/(loss) for the period 6,102,615 41,630 (1,572,670 ) 4,571,575
Depreciation of fixed assets 3,153,104 36,994 16,760 3,206,858
Financial costs 2,249,640 9,774 2,592 2,262,006
Financial income   (8,016 )   (4,249 )    

(12,265)

 

 

 

 

 

 

 

 

 

 
EBITDA 11,497,343 84,149 (1,553,318 ) 10,028,174
 
Loss on interest rate swaps, net 232,639     232,639
Foreign exchange (gains)/losses   (26,070 )     35,962   9,892

 

 

 

 

 

 

 

 

 
Adjusted EBITDA   11,703,912   84,149   (1,517,356 )   10,270,705
 
                     

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

(All amounts expressed in U.S. Dollars)

 
September 30, 2012
 
Vessel Ownership

Segment

    Vessel Management

segment

    Unallocated/

Eliminations

    Total

 

 

 

 

 

 

 

 
Profit/(loss) for the period 3,801,910 676,020 (1,553,936 ) 2,923,994
Loss on interest rate swaps, net 1,746,781 1,746,781
Foreign exchange gains   (300,275 )     (325,516 )   (625,791 )

 

 

 

 

 

 

 

 

 

Adjusted Profit/(loss) attributable to owners of the

Group

  5,248,416   676,020   (1,879,452 )   4,044,984

 

 

 

 

 

 

 

 

 
September 30, 2011
 
Vessel Ownership

Segment

    Vessel Management

segment

    Unallocated/

Eliminations

    Total

 

 

 

 

 

 

 

 
Profit/(loss) for the period 6,102,615 41,630 (1,572,670 ) 4,571,575
Loss on interest rate swaps, net 232,639 232,639
Foreign exchange (gains)/losses   (26,070 )     35,962   9,892

 

 

 

 

 

 

 

 

 

Adjusted Profit/(loss) attributable to owners of the

Group

  6,309,184   41,630   (1,536,708 )   4,814,106
 

Reconciliation of Adjusted Earnings Per Share to Earnings Per Share for the three month periods ended: (All amounts expressed in U.S. Dollars)

         
September 30, 2011 September 30, 2012

 

 

 
Profit for the period attributable to owners of the Group 4,571,575 2,923,994

Less: Earnings allocated to manager shares and subsidiary

manager shares

  379,777  

 

 

 

 

 

Earnings attributable to the owners of common shares used in the

calculation of basic EPS

4,191,798 2,923,994
Weighted average number of shares outstanding   35,853,200   62,863,166

 

 

 

 

 
EPS   0.12   0.05

 

 

 

 

 
Adjusted profit for the period attributable to owners of the Group 4,814,106 4,044,984

Less: Adjusted earnings allocated to manager shares and

subsidiary manager shares

  399,924  

 

 

 

 

 

Adjusted earnings attributable to the owners of common shares

used in the calculation of basic EPS

4,414,182 4,044,984
Weighted average number of shares outstanding   35,853,200   62,863,166

 

 

 

 

 
Adjusted EPS   0.12   0.06
 




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