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Q4 2014 RESULTS PRESENTATION – Gaslog Ltd

Gaslog Ltd · Feb 27, 2015 · 20 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 1
    GasLog Ltd. Q4 2014 Results Presentation February 27, 2015 Not For Redistribution
  2. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 2
    3 GasLog in 2014 31 December 2013 31 December 2014 8.25 ships on the water 7 on order 18.25 (1) ships on the water 3.2bn (1) 2.5bn Revenue Market Cap. 9 on order revenue backlog backlog 1.1bn Market Cap. Raised quarterly…
  3. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 3
    4 GasLog Q4 2014 Highlights Agreement to acquire two LNG carriers from BG Group for 460 million 10 year average charters back to a subsidiary of BG Group (1) Adding 590 million to our contracted revenue (to 3.2 billion) (1)…
  4. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 4
    5 Financial Highlights 12 months 3 months (In USDm) 2014 2013 Q4 2014 Q4 2013 Revenues 328.7 157.2 99.0 59.3 Adjusted EBITDA(1) 217.2 101.6 67.5 39.7 Net Financials(2) (96.1) (15.9) (35.9) (8.1) Adjusted Profit(1) 73.9 39.7 24.0…
  5. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 5
    6 Key Balance Sheet Items Selected balance sheet items (In USDm) 31 Dec 14 31 Dec 13 Tangible fixed assets 2,810 1,530 Vessels under construction 142.8 120.3 Short term investments 28.1 4.5 Cash and cash equivalents 212.0 103.8…
  6. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 6
    8 Contracted Revenue (1) Contracted revenue for 2015 currently 397 million Q115 revenue expected to be broadly in line with Q414 Contribution from recently announced 2 vessel acquisition expected from Q215 onwards Clarksons…
  7. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 7
    9 Compelling Sum-Of-The-Parts Valuation Delivered cost of Value of GLOP Value of PV of net ship GLOG fleet IDRs held by LP & GP units cash flow prior to (retained or GLOG owned by GLOG GLOP drop down dropped down) Enterprise…
  8. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 8
    10 Gas Expected To Take Significant Market Share Recently published BP Energy Outlook 2035 forecasts that: - Gas consumption will grow at 1.9% to 2035 (same rate as forecast last year) - LNG consumption will grow at 4.3% to 2035…
  9. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 9
    11 Recent Developments Across The Sector First two trains of the 13.2 Cove Point (5.25mtpa) Oran, Algeria LNG plant Exxon has signed a MoU with mtpa Freeport Project commenced construction inaugurated November 2014 PNG government…
  10. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 10
    12 Continued Demand For Medium/Long Term Charters Future Requirements vs. Current Order Book Development of LNG Liquefaction Capacity, 2015-2020 350 mtpa 700 300 309 600 250 500 400 200 300 150 164 200 100 100 0 50…
  11. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 11
    13 GasLogs Conservative Supply Outlook To 2020 Expected U.S. Projects (2) Percent Secured Project Capacity First LNG(3) Contracted Financing/FID Yes for 18 mtpa Sabine Pass (T1-5) 22.5 mtpa 90% Late 2015/2016 for 18 mtpa…
  12. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 12
    14 The Strength Of GasLogs Strategy In 2015 Headwinds Weak short-term market Opportunities Short-term oversupply of Weak market creates opportunity for vessels stronger players Commodity price volatility Further consolidation…
  13. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 13
    Q&A
  14. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 14
    APPENDIX
  15. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 15
    17 Balance Sheet (USD '000,000) 31-Dec-14 31-Dec-13 Assets Non-current assets Goodwill 9.5 9.5 Investment in associate 6.6 6.3 Deferred financing costs 6.1 12.8 Other non-current assets 5.8 2.7 Derivative financial instruments…
  16. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 16
    18 Balance Sheet (continued) (USD '000,000) 31-Dec-14 31-Dec-13 Equity & Liabilities Equity Share capital 0.8 0.6 Contributed surplus 923.5 615.0 Reserves -12.0 -3.4 Treasury shares -12.6 - Retained earnings 29.7 27.4 Equity…
  17. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 17
    19 Annex 1 - Reconciliation / Non-GAAP Measures Non-GAAP Financial Measures EBITDA is defined as earnings before depreciation, amortization, interest income and expense, gain/loss on swaps and taxes. Adjusted EBITDA is defined as…
  18. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 18
    20 Annex 1 - Reconciliation (cont.) Rec onc iliation of EBITDA and Adjusted EBITDA to Profit: (All amounts expressed in thousands of U.S. Dollars) For the three months ended For the tw elve months ended 31-Dec -13 31-Dec -14…
  19. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 19
    21 Annex 1 - Reconciliation (continued) Rec onc iliation of Adjusted Profit to Profit: (All amounts expressed in thousands of U.S. Dollars) For the three months ended For the tw elve months ended 31-Dec -13 31-Dec -14 31-Dec -13…
  20. Q4 2014 RESULTS PRESENTATION – Gaslog Ltd – slide 20
    22 Annex 1 - Reconciliation (continued) Reconciliation of Adjusted Earnings Per Share to Earnings Per Share: (All amounts expressed in thousands of U.S. Dollars, except share and per share data) For the three months ended For the…

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