gaslog ltd (GLOG) Snapshot

GasLog Ltd. announced that the Board has appointed Mr. Dennis Houston as new independent member of the Board of GasLog effective June 14, 2013. Dennis Houston has also been appointed member of the Audit & Risk Committee as well as a member of the Compensation Committee and HSSE Committee of the Company. The Board has further appointed Graham Westgarth as Chief Operating Officer. Dennis M. Houston retired from Exxon Mobil on May 31, 2010, after over 35 years with Exxon and then Exxon Mobil and currently about 40 years of total experience in the Downstream Sector of the Oil and Gas industry. His positions at retirement were Executive Vice President Refining & Supply Company, Chairman and President of ExxonMobil Sales & Supply LLC, and Chairman of Standard Tankers Bahamas Limited. His primary responsibilities included managing the supply, marine transportation and pipeline businesses for Exxon Mobil Corporation on a global basis. The newly appointed Chief Operating Officer, Graham Westgarth joined GasLog in January 2013 as Executive Vice President, Operations and Strategy. Graham Westgarth joined GasLog from Teekay Shipping where he has been a member of the Teekay Senior Leadership team since February 1999. Most recently he was EVP of Innovation, Technology and Projects.

GasLog Ltd. reported un-audited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues of $21.8 million compared to $16.6 million for the quarter ended March 31, 2012. The increase is mainly attributable to the delivery of the two new buildings. Profit attributable to owners of the group was $5.9 million compared to $2.2 million for the quarter ended March 31, 2012. This increase is mainly attributable to the delivery of the two new buildings. Diluted EPS was $0.09 compared to $0.06 for the quarter ended March 31, 2012. The increase in EPS is attributable to the increase in profit partially offset by the increase in the weighted average number of shares. Adjusted EPS) was $0.05 compared to $0.05 for the quarter ended March 31, 2012. Adjusted EBITDA was $11.3 compared to $8.3 million for the quarter ended March 31, 2012. The company reported profit from operations of $6.0 million compared to $4.7 million, net cash from operating activities of $3.1 million compared to $3.0 million and payments for tangible fixed assets and vessels under construction of $339.7 million compared to $21.2 million for the last year. EBITDA was $13.9 million for the quarter compared to $8.4 million for the same period last year. The main reasons for increase in profit was approximately a $5.2 million increase in revenues; approximately $1.4 million increase in vessel operating and supervision cost, mainly attributable to the delivery of the two new ships in first quarter, plus the cost of the planned intermediate surveys on the 2 vessels delivered in 2010.

GasLog Ltd. has on May 14, 2013 declared a quarterly cash dividend of $0.11 per common share payable on June 11, 2013 to all stockholders of record as of May 28, 2013.