This Day On The Street
Continue to site
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

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

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs