This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

GasLog Ltd. Reports Financial Results For The Quarter Ended September 30, 2013

Stocks in this article: GLOG

GasLog Ltd. and its subsidiaries (“GasLog” or “Group”) (NYSE: GLOG), an international owner, operator and manager of liquefied natural gas (“LNG”) carriers, today reported its financial results for the quarter ended September 30, 2013.


  • Quarterly dividend raised to $0.12 per common share payable on December 9, 2013.
  • Acquisition of GasLog Chelsea, a 2010-built 153,600 cubic meters, TFDE LNG Carrier followed by immediate conclusion of $100 million financing and spot charter.
  • EBITDA (1) of 27.9 million, earnings per share (“EPS”) of $0.15 and Profit of $9.2 million for the third quarter.
  • Adjusted EBITDA (1) of $30.2 million, Adjusted EPS (1) of $0.18 and Adjusted Profit (1) of $11.4 million for the third quarter.

CEO Statement

Mr. Paul Wogan, Chief Executive Officer, stated “I am very pleased to report on what has been another strong quarter for GasLog. I am also pleased to report that as a result of our growing business and strengthening cash flows, we are able to reward our shareholders by raising the quarterly dividend to $0.12. We continued to execute on our business plan with the delivery of the GasLog Skagen ahead of schedule and on budget as well as the continued 100% utilization of our on-the water fleet. As previously reported we contracted 2 new buildings, during the quarter, at Samsung Heavy Industries Co. Ltd. (“Samsung”) for delivery in 2016 with associated seven year charters to the BG Group and secured options for the construction of up to six additional new buildings. Our strong relationship with Samsung enabled us to extend the 6 options into the first quarter of 2014. In addition, the strength of our underlying business allied with our close banking relationships allowed us to move quickly to secure the purchase of the GasLog Chelsea at what we believe was a very competitive price. Our highly efficient and effective operating platform enabled us to take possession of the ship and quickly place it on its first short term charter. We continue to be excited about further potential consolidation and fleet growth opportunities and feel we are well placed to take advantage of these opportunities due to our operational platform allied with the ongoing development of our capital structure.”

Dividend Declaration

On November 13, 2013, the Board of Directors declared a quarterly cash dividend of $0.12 per common share payable on December 9, 2013 to shareholders of record as of November 25, 2013.

1 of 8

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs