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Second Quarter Earnings Presentation 2014 – Gaslog Ltd

Gaslog Ltd · Aug 20, 2014 · 18 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. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 1
    GasLog Ltd. Second Quarter Earnings Presentation 2014 20 August 2014
  2. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 2
    Highlights Completion of GasLog Partners IPO, raising gross proceeds of approximately 203 million. Post quarter end, announced the dropdown of two vessels to GasLog Partners for 328 million. Completed the acquisition of six…
  3. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 3
    Financial Highlights 6 months 3 months (USD '000) H1 2014 H1 2013 Q2 2014 Q2 2013 Revenues 130,307 54,725 73,236 32,948 (1) EBITDA 80,781 31,589 46,520 20,916 (1) Adjusted EBITDA 80,936 31,710 46,601 20,447 Share of Profit of…
  4. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 4
    Financial Highlights (1) See Annex 1 for reconciliation of EBITDA 5
  5. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 5
    Financial Highlights (USD '000) 30-Jun-14 31-Dec-13 Assets Non-current assets Goodwill 9,511 9,511 Investment in associate 6,896 6,326 Deferred financing costs 9,761 12,793 Other non-current assets 2,802 2,659 Derivative…
  6. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 6
    Financial Highlights (USD '000) 30-Jun-14 31-Dec-13 Equity & Liabilities Equity Share capital 810 629 Contributed surplus 923,480 614,964 Reserves -8,362 -3,428 Retained earnings 16,341 27,368 Equity attributable to owners of the…
  7. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 7
    Capital Expenditure 1,400 1.9bn 1,200 1,148 1,000 (m) 800 751 655 600 400 270 200 200 0 H1 14 H214 FY15 FY16 FY17 Capex for 2014-17 is for stage payments and final payments for the newbuildings on order. The…
  8. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 8
    Contracted Revenue On and after For the years July 1, 2014 2014 2015 2016 2017 2018 2019-2026 Total Percentage of total contracted days/total available days 99% 82% 77% 70% 56% 19% 36% Total contracted days (days) 2,701 4,898…
  9. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 9
    2014 Full Year Update Revenue/EBITDA: H1 revenue of 130m + 192m Q3-Q4 forecasted per contract revenue table + vessel management. 2013 EBITDA margin c. 65%. G&A: Higher ongoing G&A as we continue to build out the business: MLP…
  10. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 10
    Accounting for the MLP GasLog Ltd. holds 10m Limited Partner units (49.8%), public owns (48.2%). GasLog Ltd. holds the 2% General Partner and 100% of Incentive Distribution Rights (IDRs). GasLog Partners is fully consolidated into the…
  11. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 11
    Market Update We remain very bullish on the long-term LNG and LNG shipping markets GasLog Ltd. is contracted for the next several years on the majority of its vessels We are comfortable with a small part of the fleet exposed…
  12. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 12
    positive The long-term outlook for LNG shipping remains very positive H214, additional production from Algeria expected. Q2 2014, Cameron LNG (12mpta) received FERC approval and reached FID Russia Canada The recent…
  13. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 13
    The GasLog Fleet Capacity Ship Owned Built (mcbm) Propulsion Charterer 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 GasLog Ltd. Methane Rita Andrea1 100% 2006 145,000 Steam Methane Jane Elizabeth 1 100% 2006 145,000…
  14. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 14
    Summary Successful launch of the GasLog Partners MLP. Post quarter-end, announced first dropdown of two vessels for 328 million. Dropdown drives cash distribution into the first IDR tier giving the GP a greater percentage of future…
  15. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 15
    Annex 1 - Reconciliation / Non-GAAP Measures Non-GAAP Financial Measures EBITDA is defined as earnings before interest income and expense, gain/loss on swaps, taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA…
  16. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 16
    Annex 1 - Reconciliation (cont.) Re conci li ation of EBITDA and Adjuste d EBITDA to Profit: (Al l amounts expresse d i n thousands of U.S. Dol lars) For the thre e months e nde d For the six months ende d 30-Jun-13 30-Jun-14…
  17. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 17
    Annex 1 - Reconciliation (cont.) Re conci li ation of Adjuste d Profit to Profi t: (Al l amounts expresse d i n thousands of U.S. Dol lars) For the thre e months e nde d For the six months ende d 30-Jun-13 30-Jun-14 30-Jun-13…
  18. Second Quarter Earnings Presentation 2014 – Gaslog Ltd – slide 18
    Annex 1 - Reconciliation (cont.) For the thre e m onths e nded For the six months e nded 30-Jun-13 30-Jun-14 30-Jun-13 30-Jun-14 Profit for t he period at tribut able t o owners of the Group 20,429 1,477 26,323 7,825 Weight ed…

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