GasLog reported strong financial results for the second quarter of 2013, with profits of $20.4 million and EBITDA of $33.8 million. The company took delivery of two new LNG carriers, the GasLog Sydney and GasLog Skagen, ahead of schedule. GasLog also contracted to acquire two new LNG carriers from Samsung Heavy Industries for delivery in 2016, which have already been chartered to BG Group for minimum seven year contracts. Looking forward, GasLog is well positioned for continued growth with a large newbuilding program and strong industry fundamentals supporting the increased use of LNG.
GasLog Ltd. reported its financial results for the first quarter of 2013. Key highlights included the delivery of two new LNG carriers ahead of schedule, declaration of a $0.11 quarterly dividend, and profit of $5.9 million with EBITDA of $13.9 million. GasLog also accepted an offer for a $160 million loan to refinance an existing facility and for general corporate purposes. Time charter equivalent rates were $76,940 per day with 100% vessel utilization during the quarter.
China Gold International Resources reported record breaking financial results in Q3 2020. Revenues increased 29% year-over-year to $240.5 million, net income soared to $47.6 million, and EBITDA reached $103 million. Production also rose, with gold output up 12% and copper production increasing 31% compared to the same period last year. The company has benefited from strong operational performance as well as financial and technical support from its major shareholder, China National Gold Group, one of China's largest gold producers. China Gold International maintains an investment grade credit rating of BBB- from S&P.
This document summarizes Foyson Resources Limited's acquisition of IGE's waste plastic conversion technologies and the Berkeley Vale commercial facility. Key points include:
- Foyson will acquire IGE's technologies and licenses, as well as the Berkeley Vale site and management team, subject to shareholder approval.
- Consideration includes 130 million shares and 75 million options to IGE upon facility completion and 15 million shares and 70 million options upon achieving $5 million EBITDA.
- Foyson plans to raise $4.25 million to expand the facility to 200 tons/day and increase utilization, with funds from a promissory note, placements, and a rights issue.
- The expanded facility
First Quarter 2016 Results
- SemGroup reported adjusted EBITDA of $77.7 million for the first quarter of 2016, down slightly from $79.3 million in the fourth quarter of 2015.
- Rose Rock Midstream reported adjusted EBITDA of $49.0 million for the first quarter of 2016, up from $46.6 million in the fourth quarter of 2015.
- SemGroup maintained its 2016 adjusted EBITDA guidance of $270-320 million and Rose Rock Midstream maintained its 2016 adjusted EBITDA guidance of $165-185 million.
This presentation provides an overview of Teranga Gold Corporation to investors. It highlights Teranga's large reserve base in Senegal, low costs of production, and strong cash flows over the life of the mine. While Teranga missed its 2015 production guidance, it achieved cost reductions and increased reserves. The presentation also notes opportunities for organic production growth through mill optimization and expanding resources, as well as the company's strong balance sheet and management team.
- The document is an investor presentation that provides forward-looking statements and information about risks and uncertainties that could impact financial performance.
- It notes that statements in the presentation regarding prospects, financial performance, dividend growth, management plans and other matters are forward-looking.
- The presentation directs investors to SEC filings for additional information about the proposed merger between SemGroup and Rose Rock Midstream.
This document provides an overview of Antero Midstream Partners LP and highlights key information about the company's forward-looking statements, recent changes since the prior presentation, benefits of Antero Resources' recent acreage acquisition for Antero Midstream, Antero Resources' continuous operating improvements, advanced completion designs driving increased water volumes, Marcellus well economics assumptions and upside potential, Antero Midstream's exercise of an option to acquire a stake in the Stonewall gathering pipeline, and reasons to own Antero Midstream including strong distribution growth and coverage, sponsor strength, investment opportunities, and financial flexibility.
The document provides an earnings summary for 1Q 2021. Key points include:
- The company has a strong balance sheet with low leverage of 0.6x net debt to 2021 EBITDAX and projects $3 billion in free cash flow over the next five years.
- In 1Q 2021, the company reported adjusted EBITDAX of $510 million and free cash flow of $329 million.
- The company aims to reinvest 60-70% of capital to produce over 400 MBOE/day annually on $700-750 million in capital expenditures and launch an initial $1.375 per share annual dividend.
- The company has a diversified portfolio across multiple basins including Appal
GasLog Ltd. reported its financial results for the first quarter of 2013. Key highlights included the delivery of two new LNG carriers ahead of schedule, declaration of a $0.11 quarterly dividend, and profit of $5.9 million with EBITDA of $13.9 million. GasLog also accepted an offer for a $160 million loan to refinance an existing facility and for general corporate purposes. Time charter equivalent rates were $76,940 per day with 100% vessel utilization during the quarter.
China Gold International Resources reported record breaking financial results in Q3 2020. Revenues increased 29% year-over-year to $240.5 million, net income soared to $47.6 million, and EBITDA reached $103 million. Production also rose, with gold output up 12% and copper production increasing 31% compared to the same period last year. The company has benefited from strong operational performance as well as financial and technical support from its major shareholder, China National Gold Group, one of China's largest gold producers. China Gold International maintains an investment grade credit rating of BBB- from S&P.
This document summarizes Foyson Resources Limited's acquisition of IGE's waste plastic conversion technologies and the Berkeley Vale commercial facility. Key points include:
- Foyson will acquire IGE's technologies and licenses, as well as the Berkeley Vale site and management team, subject to shareholder approval.
- Consideration includes 130 million shares and 75 million options to IGE upon facility completion and 15 million shares and 70 million options upon achieving $5 million EBITDA.
- Foyson plans to raise $4.25 million to expand the facility to 200 tons/day and increase utilization, with funds from a promissory note, placements, and a rights issue.
- The expanded facility
First Quarter 2016 Results
- SemGroup reported adjusted EBITDA of $77.7 million for the first quarter of 2016, down slightly from $79.3 million in the fourth quarter of 2015.
- Rose Rock Midstream reported adjusted EBITDA of $49.0 million for the first quarter of 2016, up from $46.6 million in the fourth quarter of 2015.
- SemGroup maintained its 2016 adjusted EBITDA guidance of $270-320 million and Rose Rock Midstream maintained its 2016 adjusted EBITDA guidance of $165-185 million.
This presentation provides an overview of Teranga Gold Corporation to investors. It highlights Teranga's large reserve base in Senegal, low costs of production, and strong cash flows over the life of the mine. While Teranga missed its 2015 production guidance, it achieved cost reductions and increased reserves. The presentation also notes opportunities for organic production growth through mill optimization and expanding resources, as well as the company's strong balance sheet and management team.
- The document is an investor presentation that provides forward-looking statements and information about risks and uncertainties that could impact financial performance.
- It notes that statements in the presentation regarding prospects, financial performance, dividend growth, management plans and other matters are forward-looking.
- The presentation directs investors to SEC filings for additional information about the proposed merger between SemGroup and Rose Rock Midstream.
This document provides an overview of Antero Midstream Partners LP and highlights key information about the company's forward-looking statements, recent changes since the prior presentation, benefits of Antero Resources' recent acreage acquisition for Antero Midstream, Antero Resources' continuous operating improvements, advanced completion designs driving increased water volumes, Marcellus well economics assumptions and upside potential, Antero Midstream's exercise of an option to acquire a stake in the Stonewall gathering pipeline, and reasons to own Antero Midstream including strong distribution growth and coverage, sponsor strength, investment opportunities, and financial flexibility.
The document provides an earnings summary for 1Q 2021. Key points include:
- The company has a strong balance sheet with low leverage of 0.6x net debt to 2021 EBITDAX and projects $3 billion in free cash flow over the next five years.
- In 1Q 2021, the company reported adjusted EBITDAX of $510 million and free cash flow of $329 million.
- The company aims to reinvest 60-70% of capital to produce over 400 MBOE/day annually on $700-750 million in capital expenditures and launch an initial $1.375 per share annual dividend.
- The company has a diversified portfolio across multiple basins including Appal
This document provides an overview of Antero Midstream Partners LP and contains forward-looking statements regarding future plans and expectations. It discusses key assumptions, risks, and uncertainties that could cause actual results to differ from projections. Specifically, the document notes that Antero Midstream's ability to make future distributions is substantially dependent on Antero Resources' development plan, which depends on annual budget approval by Antero Resources' board of directors.
The document provides an overview of forward-looking statements and assumptions regarding Antero Midstream Partners LP and Antero Resources Corporation. It summarizes that any projections are based on certain assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Our ability to make future distributions is substantially dependent on Antero Resources' development plan, which itself depends on its board's annual approval of the capital budget considering expected commodity prices, contractual obligations, and capital resources at that time.
The document summarizes EnLink's operations report for August 2016. Key points include:
- EnLink revised 2016 guidance, increased adjusted EBITDA to $750-800 million.
- Q2 2016 results showed adjusted EBITDA of $187.4 million and cash available for distribution of $49.8 million.
- EnLink continues focus on core strategies of maximizing cash flows, executing growth projects, and providing best-in-basin service.
1. The document reports on the operations and financial results of EnLink Midstream for February 2016. It highlights record adjusted EBITDA of $728 million for 2015 and distribution coverage ratios of around 1.0x and 1.2x.
2. EnLink Midstream executed on its strategy in 2015 by completing $4.5 billion in acquisitions, growth projects, and asset drop downs. This expanded its footprint in key resource plays like the STACK, Midland Basin, and Delaware Basin.
3. The company is well positioned for continued growth in 2016, with projections for increased gas processing volumes, crude/condensate volumes, and rigs operating on dedicated acreage compared to 2014 levels.
Jp energy mlpa conference jun2016-finalir_jpenergy
MLPA Investor Conference held in June 2016. The presentation discusses JP Energy Partners LP (JPEP), a publicly traded MLP that operates in crude oil pipelines and storage, refined products terminals and storage, and NGL distribution and sales. It provides an overview of each segment's assets and operations. The presentation also notes that JPEP has achieved growth through acquisitions and expansion projects since its inception in 2013.
The document provides an overview of a partnership between Antero Midstream Partners LP and Antero Resources Corporation. It contains forward-looking statements regarding future plans, strategies, objectives, and anticipated financial and operating results. These statements are based on certain assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. The ability to make future distributions is substantially dependent on Antero Resources' development and drilling plan, which is dependent on its annual capital budget approval.
The document provides an overview of JP Energy Partners LP and discusses its three business segments: crude oil pipelines and storage, refined products terminals and storage, and NGL distribution and sales. It also discusses JP Energy's Q3 2016 financial results, balance sheet and liquidity position, and its planned merger with American Midstream Partners to create a larger, more diversified midstream company.
MBAC Fertilizer Corp. provided a Q3 2014 update and results. They achieved a daily production record of 1,700 tonnes in September and $6.3 million in pre-commercial revenue. However, liquidity constraints impacted performance. Initiatives to improve liquidity included debt extensions and a new $10.6 million working capital facility. Going forward, the company's focus is on preserving working capital during the low selling season and pursuing a strategic partner or sale of non-core assets.
This document provides an overview of JP Morgan's Energy Oklahoma City SCOOP/STACK & Houston Bus Tour on May 17, 2016. It includes forward-looking statements about future financial and operating results with various risk factors that could impact projections. It also contains non-GAAP financial measures and definitions. The presentation shows stable financial results for ENLK in Q1 2016 with adjusted EBITDA of $195 million, distribution coverage of 1.09x, and leverage of 3.8x debt to EBITDA. It highlights EnLink's premier positions in top U.S. oil and gas basins as well as its focus on execution and stability.
The document is Bladex's 4Q20 earnings results presentation. It summarizes that Bladex saw 9% quarter-over-quarter growth in its commercial portfolio, maintaining diversification across investment grade countries and defensive sectors. Net income was stable compared to last quarter, though annual results were impacted by Bladex taking a defensive approach to favor liquidity over loan growth during most of 2020 in response to the pandemic.
This document provides an overview of Antero Midstream Partners LP and contains forward-looking statements regarding future plans and expectations. It discusses the assumptions, risks, and uncertainties inherent in forward-looking projections, including commodity price volatility and changes to development plans. The ability to make future distributions depends substantially on Antero Resources' development plan, which depends on annual budget approval.
This document provides information about EOG Resources, Inc. It includes EOG's stock symbol and dividend, shares outstanding, investor relations contacts, copyright and risk disclaimer, and cautionary statements about forward-looking statements. The document also provides highlights about EOG's operations and financial results, including increasing its 2017-2020 oil growth outlook, raising its Delaware Basin resource estimate, exceeding US production guidance, and lowering per-unit expenses. Tables show increasing premium well locations and resource potential from the Delaware Basin.
This document provides information about EOG Resources Inc. (EOG), including its stock symbol, common dividend amount, number of common shares outstanding, and investor relations contacts. It also contains legal disclaimers about forward-looking statements and non-GAAP financial measures, as well as brief statements about EOG being a U.S. leader in return on capital employed and oil growth, having among the lowest costs of production globally, and being committed to safety and the environment.
Mike Salop, Senior Vice President of Investor Relations at Western Union, provided an overview of the company's performance and outlook. Some key points include:
- Revenue decreased 1% year-over-year on a reported basis but increased 3% constant currency, driven by strength in westernunion.com and U.S. outbound transfers.
- Operating margin was 18.9%, impacted by a $15 million legal accrual but partially offset by cost reductions.
- The company updated its 2016 EPS outlook to a range of $1.60 to $1.70 per share.
- Strategic progress included mobile app upgrades, agent renewals, and expanding its account payout network.
This document provides contact information for Devon Energy's investor relations team. It also contains brief summaries of Devon's operations, including its focus on North American oil and gas plays like the STACK, Delaware Basin, and Eagle Ford, as well as its financial strength and capital allocation strategy of investing within cash flow. The document aims to highlight Devon's leading asset portfolio and operational results.
Hyundai Capital Services reported financial results for the third quarter of 2016. Total assets grew 2.6% year-to-date to 24.8 trillion won due to increases in mortgage and corporate lending. Net income increased 13.2% to 277.1 billion won compared to the same period last year. Overseas operations continued expanding, with equity income from foreign subsidiaries growing 60.8% year-over-year. Asset quality remained stable with delinquency ratios below 2.3% and allowance reserves covering over 110% of non-performing loans.
This document provides a summary of Jinhui Shipping and Transportation Limited's Q4 2013 and full year 2013 results presentation. It highlights the following key points:
1) For 2013, revenue decreased 7% to $218 million while net profit decreased 29% to $25 million compared to 2012.
2) For Q4 2013, revenue increased 2% while the company reported a net loss of $3 million compared to a net profit in Q4 2012.
3) The company owns 38 dry bulk carriers with a total capacity of 2.2 million DWT and an average age of 7 years.
4) Average daily time charter equivalent rates were $14,092 for 2013, down from $15
Höegh LNG reported financial results for the first quarter of 2014, with an EBITDA of -$1.0 million and loss before tax of $4.5 million. Two FSRU projects were completed on time and on budget, with the PGN FSRU Lampung delivered in April and the Independence delivered in May. A letter of intent was also signed for a 5-year FSRU contract with Egas of Egypt. Global LNG demand is expected to continue strong growth in Asia and other markets. Höegh LNG aims to further expand its fleet of FSRUs and pursue FLNG opportunities.
This document provides an investor presentation for Crestwood Midstream Partners LP and Crestwood Equity Partners LP. It summarizes the companies' strategic pivot to improve processes and efficiencies, reduce costs, simplify operations, and deleverage the balance sheet. Going forward, the companies plan to focus on executing existing projects, high-grading growth opportunities, and pursuing disciplined growth through joint ventures to enhance their strategic position while preserving financial strength. Key regions for potential long-term growth include the Marcellus Shale, Bakken, and Delaware Permian areas.
This document provides information about EOG Resources, Inc. It includes EOG's stock symbol and dividend, shares outstanding, website and investor relations contacts. It also contains cautionary statements regarding forward-looking statements and assumptions of risk. The document notes that EOG is shifting capital to premium locations that generate over 30% returns even at $40/barrel oil. It also discusses growing premium well inventory, increasing capital productivity, and maintaining a strong balance sheet while focusing on returns.
Golar LNG reported its first quarter 2013 results and provided commentary on subsequent events and outlook. Key highlights included operating income of $75.9 million and net income of $85.6 million. Golar Partners completed a follow-on equity offering raising $130 million and Golar sold its interest in a vessel to Golar Partners for $215 million. The company also discussed progress on financing its newbuilding program and potential projects in regions like the Americas and West Africa.
The document provides an update on Chesapeake Energy Corporation for June 2019. It discusses forward-looking statements and risk factors that could impact actual results. The business strategy remains focused on financial discipline, profitable growth from captured resources, exploration and business development. Strategic goals include margin enhancement, free cash flow generation, and reducing net debt. In the first quarter of 2019, adjusted oil production increased 13% year-over-year while cash costs declined 14% resulting in the highest EBITDAX margin in four years. Brazos Valley is projected to be cash flow positive at the asset level in 2019.
This document provides an overview of Antero Midstream Partners LP and contains forward-looking statements regarding future plans and expectations. It discusses key assumptions, risks, and uncertainties that could cause actual results to differ from projections. Specifically, the document notes that Antero Midstream's ability to make future distributions is substantially dependent on Antero Resources' development plan, which depends on annual budget approval by Antero Resources' board of directors.
The document provides an overview of forward-looking statements and assumptions regarding Antero Midstream Partners LP and Antero Resources Corporation. It summarizes that any projections are based on certain assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Our ability to make future distributions is substantially dependent on Antero Resources' development plan, which itself depends on its board's annual approval of the capital budget considering expected commodity prices, contractual obligations, and capital resources at that time.
The document summarizes EnLink's operations report for August 2016. Key points include:
- EnLink revised 2016 guidance, increased adjusted EBITDA to $750-800 million.
- Q2 2016 results showed adjusted EBITDA of $187.4 million and cash available for distribution of $49.8 million.
- EnLink continues focus on core strategies of maximizing cash flows, executing growth projects, and providing best-in-basin service.
1. The document reports on the operations and financial results of EnLink Midstream for February 2016. It highlights record adjusted EBITDA of $728 million for 2015 and distribution coverage ratios of around 1.0x and 1.2x.
2. EnLink Midstream executed on its strategy in 2015 by completing $4.5 billion in acquisitions, growth projects, and asset drop downs. This expanded its footprint in key resource plays like the STACK, Midland Basin, and Delaware Basin.
3. The company is well positioned for continued growth in 2016, with projections for increased gas processing volumes, crude/condensate volumes, and rigs operating on dedicated acreage compared to 2014 levels.
Jp energy mlpa conference jun2016-finalir_jpenergy
MLPA Investor Conference held in June 2016. The presentation discusses JP Energy Partners LP (JPEP), a publicly traded MLP that operates in crude oil pipelines and storage, refined products terminals and storage, and NGL distribution and sales. It provides an overview of each segment's assets and operations. The presentation also notes that JPEP has achieved growth through acquisitions and expansion projects since its inception in 2013.
The document provides an overview of a partnership between Antero Midstream Partners LP and Antero Resources Corporation. It contains forward-looking statements regarding future plans, strategies, objectives, and anticipated financial and operating results. These statements are based on certain assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. The ability to make future distributions is substantially dependent on Antero Resources' development and drilling plan, which is dependent on its annual capital budget approval.
The document provides an overview of JP Energy Partners LP and discusses its three business segments: crude oil pipelines and storage, refined products terminals and storage, and NGL distribution and sales. It also discusses JP Energy's Q3 2016 financial results, balance sheet and liquidity position, and its planned merger with American Midstream Partners to create a larger, more diversified midstream company.
MBAC Fertilizer Corp. provided a Q3 2014 update and results. They achieved a daily production record of 1,700 tonnes in September and $6.3 million in pre-commercial revenue. However, liquidity constraints impacted performance. Initiatives to improve liquidity included debt extensions and a new $10.6 million working capital facility. Going forward, the company's focus is on preserving working capital during the low selling season and pursuing a strategic partner or sale of non-core assets.
This document provides an overview of JP Morgan's Energy Oklahoma City SCOOP/STACK & Houston Bus Tour on May 17, 2016. It includes forward-looking statements about future financial and operating results with various risk factors that could impact projections. It also contains non-GAAP financial measures and definitions. The presentation shows stable financial results for ENLK in Q1 2016 with adjusted EBITDA of $195 million, distribution coverage of 1.09x, and leverage of 3.8x debt to EBITDA. It highlights EnLink's premier positions in top U.S. oil and gas basins as well as its focus on execution and stability.
The document is Bladex's 4Q20 earnings results presentation. It summarizes that Bladex saw 9% quarter-over-quarter growth in its commercial portfolio, maintaining diversification across investment grade countries and defensive sectors. Net income was stable compared to last quarter, though annual results were impacted by Bladex taking a defensive approach to favor liquidity over loan growth during most of 2020 in response to the pandemic.
This document provides an overview of Antero Midstream Partners LP and contains forward-looking statements regarding future plans and expectations. It discusses the assumptions, risks, and uncertainties inherent in forward-looking projections, including commodity price volatility and changes to development plans. The ability to make future distributions depends substantially on Antero Resources' development plan, which depends on annual budget approval.
This document provides information about EOG Resources, Inc. It includes EOG's stock symbol and dividend, shares outstanding, investor relations contacts, copyright and risk disclaimer, and cautionary statements about forward-looking statements. The document also provides highlights about EOG's operations and financial results, including increasing its 2017-2020 oil growth outlook, raising its Delaware Basin resource estimate, exceeding US production guidance, and lowering per-unit expenses. Tables show increasing premium well locations and resource potential from the Delaware Basin.
This document provides information about EOG Resources Inc. (EOG), including its stock symbol, common dividend amount, number of common shares outstanding, and investor relations contacts. It also contains legal disclaimers about forward-looking statements and non-GAAP financial measures, as well as brief statements about EOG being a U.S. leader in return on capital employed and oil growth, having among the lowest costs of production globally, and being committed to safety and the environment.
Mike Salop, Senior Vice President of Investor Relations at Western Union, provided an overview of the company's performance and outlook. Some key points include:
- Revenue decreased 1% year-over-year on a reported basis but increased 3% constant currency, driven by strength in westernunion.com and U.S. outbound transfers.
- Operating margin was 18.9%, impacted by a $15 million legal accrual but partially offset by cost reductions.
- The company updated its 2016 EPS outlook to a range of $1.60 to $1.70 per share.
- Strategic progress included mobile app upgrades, agent renewals, and expanding its account payout network.
This document provides contact information for Devon Energy's investor relations team. It also contains brief summaries of Devon's operations, including its focus on North American oil and gas plays like the STACK, Delaware Basin, and Eagle Ford, as well as its financial strength and capital allocation strategy of investing within cash flow. The document aims to highlight Devon's leading asset portfolio and operational results.
Hyundai Capital Services reported financial results for the third quarter of 2016. Total assets grew 2.6% year-to-date to 24.8 trillion won due to increases in mortgage and corporate lending. Net income increased 13.2% to 277.1 billion won compared to the same period last year. Overseas operations continued expanding, with equity income from foreign subsidiaries growing 60.8% year-over-year. Asset quality remained stable with delinquency ratios below 2.3% and allowance reserves covering over 110% of non-performing loans.
This document provides a summary of Jinhui Shipping and Transportation Limited's Q4 2013 and full year 2013 results presentation. It highlights the following key points:
1) For 2013, revenue decreased 7% to $218 million while net profit decreased 29% to $25 million compared to 2012.
2) For Q4 2013, revenue increased 2% while the company reported a net loss of $3 million compared to a net profit in Q4 2012.
3) The company owns 38 dry bulk carriers with a total capacity of 2.2 million DWT and an average age of 7 years.
4) Average daily time charter equivalent rates were $14,092 for 2013, down from $15
Höegh LNG reported financial results for the first quarter of 2014, with an EBITDA of -$1.0 million and loss before tax of $4.5 million. Two FSRU projects were completed on time and on budget, with the PGN FSRU Lampung delivered in April and the Independence delivered in May. A letter of intent was also signed for a 5-year FSRU contract with Egas of Egypt. Global LNG demand is expected to continue strong growth in Asia and other markets. Höegh LNG aims to further expand its fleet of FSRUs and pursue FLNG opportunities.
This document provides an investor presentation for Crestwood Midstream Partners LP and Crestwood Equity Partners LP. It summarizes the companies' strategic pivot to improve processes and efficiencies, reduce costs, simplify operations, and deleverage the balance sheet. Going forward, the companies plan to focus on executing existing projects, high-grading growth opportunities, and pursuing disciplined growth through joint ventures to enhance their strategic position while preserving financial strength. Key regions for potential long-term growth include the Marcellus Shale, Bakken, and Delaware Permian areas.
This document provides information about EOG Resources, Inc. It includes EOG's stock symbol and dividend, shares outstanding, website and investor relations contacts. It also contains cautionary statements regarding forward-looking statements and assumptions of risk. The document notes that EOG is shifting capital to premium locations that generate over 30% returns even at $40/barrel oil. It also discusses growing premium well inventory, increasing capital productivity, and maintaining a strong balance sheet while focusing on returns.
Golar LNG reported its first quarter 2013 results and provided commentary on subsequent events and outlook. Key highlights included operating income of $75.9 million and net income of $85.6 million. Golar Partners completed a follow-on equity offering raising $130 million and Golar sold its interest in a vessel to Golar Partners for $215 million. The company also discussed progress on financing its newbuilding program and potential projects in regions like the Americas and West Africa.
The document provides an update on Chesapeake Energy Corporation for June 2019. It discusses forward-looking statements and risk factors that could impact actual results. The business strategy remains focused on financial discipline, profitable growth from captured resources, exploration and business development. Strategic goals include margin enhancement, free cash flow generation, and reducing net debt. In the first quarter of 2019, adjusted oil production increased 13% year-over-year while cash costs declined 14% resulting in the highest EBITDAX margin in four years. Brazos Valley is projected to be cash flow positive at the asset level in 2019.
Chesapeake Energy reported its 1Q 2019 earnings. It highlighted operational and financial strategies to enhance margins and generate free cash flow through profitable and efficient growth from captured resources. Key highlights included a 13% year-over-year increase in adjusted oil production, $15.50/boe EBITDAX margin which was the highest in four years, and the Brazos Valley asset projected to be cash flow positive at the asset level in 2019. Chesapeake is focusing investments in its highest-margin oil-growth assets and cash-generating gas assets to deliver transformational oil growth and improved cash flow.
- The company reported financial results for Q4 2013 and fiscal year 2013, with revenue and earnings lower than the previous year.
- Agriculture sector impacts and changing shipment patterns affected domestic dry-bulk results. Product tanker demand remained strong.
- Interest income was higher in Q4 2013 due to recovered vessel deposits and tax refunds. Foreign exchange gains also benefited results.
- Weak hotel occupancy continued to impact the real estate segment. Leasing activity was strong but results will not be fully realized until 2014.
bp reported its third quarter 2020 financial results. Brent oil prices were 45% higher compared to the second quarter, while bp's refining marker margin was 5% higher. bp's underlying replacement cost profit was $0.1 billion for the third quarter, compared to a loss of $6.7 billion in the previous quarter, driven by higher oil prices and improved refining margins. Net debt fell to $40.4 billion due to a cash inflow of $0.6 billion. bp expects 2020 upstream production excluding Rosneft to be lower than 2019 and organic capital expenditure to be around $12 billion.
Mark Wilson, Group Chief Executive Officer, said:
“In the first half we have taken a number of steps to deliver our investment thesis of cash flow and growth. These results show satisfactory progress in Aviva’s turnaround.
“We have achieved profit after tax of £776 million, in contrast to the £624 million loss last year. Cash flows to the Group have increased by 30% to £573 million. Our key measure of sales – value of new business – has increased 17%, driven by the UK, France, Poland, Turkey and Asia.
“Although these results continue the positive trends of the first quarter, tackling our legacy issues will take time.
“I am committed to achieving for investors what we set out to do: turning around the company to unlock the considerable value in Aviva.”
The document is the 2019 Annual Meeting of Shareholders presentation. It summarizes Chesapeake Energy's business strategy, near-term priorities, and key performance metrics. The strategy is to focus on financial discipline, profitable and efficient growth from captured resources, exploration, business development, and margin enhancement to generate free cash flow and reduce net debt. Metrics shown include reductions in leverage, increases in adjusted EBITDAX and margins, improvements in production and overhead costs, and highlights of core asset positions and recent record well results.
- Chesapeake Energy reported 2Q 2019 earnings and provided an operational and financial update.
- The company is executing on its strategy of financial discipline, profitable growth from captured resources, and exploration through focused investment in highest margin opportunities.
- Chesapeake has significantly improved its debt maturity outlook through refinancing activities and aims to achieve a net debt to EBITDAX ratio of 2x.
- The company is committed to safety, environmental stewardship, and reducing its environmental footprint through initiatives like its enhanced leak detection and repair program.
Mark Wilson, Group Chief Executive Officer, said:
“The turnaround at Aviva is intensifying. We have focused the business on ‘cash flow plus growth’ and the benefits are starting to be reflected in our performance. Cash flows to the Group are up 40%, operating expenses are down 7%, operating profit is up 6% and Value of New Business is up 13%. After a £2.9 billion loss after tax last year, Aviva has delivered a £2.2 billion profit.
“Following our exit from a number of low margin, underperforming or non-strategic businesses, Aviva is simpler, more focused and better managed. We have significantly improved our capital surplus, increased our liquidity and have a stronger leadership team.
“Although we have made progress in 2013, I want to guard against complacency. Aviva still has issues to address. Have we made progress? Yes, some. Is it a little faster than anticipated? Probably. Have we unlocked the full potential at Aviva? Not yet.”
- The company reported financial results for the second quarter of 2013 with increases in revenue, adjusted net income, adjusted EBITDA, and daily vessel operating expenses compared to the same period in 2012.
- Net revenue increased to $26.6 million from $23.7 million year-over-year due to higher charter rates and vessel utilization. Adjusted EBITDA rose to $15.1 million from $11.4 million.
- Daily vessel operating expenses increased slightly to $4,414 per day compared to $4,350 per day in the second quarter of 2012.
Vulcan Materials reported first quarter 2013 earnings results. Key highlights included aggregates shipments and pricing in line with expectations, and improved profitability in non-aggregates segments. The outlook for 2013 anticipates continued recovery in private construction leading to 1-5% growth in aggregates volumes and 4% increase in aggregates pricing. Earnings improvement is expected across all business segments.
The document provides cautionary statements regarding forward-looking statements in the presentation. It notes that actual results can differ materially from expectations due to risks and uncertainties described in Chesapeake's SEC filings. It also defines terms used in the presentation like PV10, estimated ultimate recovery, and resource potential that are more speculative than proved reserves. The SEC prohibits including these estimates in filings.
Chesapeake Energy reported 3Q 2019 earnings. The presentation discusses the company's financial discipline and profitable growth strategy focused on capturing resources. Key highlights included establishing an oil production record in the Brazos Valley, improving well economics in the Powder River Basin, and the Marcellus asset generating an estimated $300 million in free cash flow. Chesapeake also summarized recent drilling results and operational improvements across its assets.
Golar LNG Partners reported second quarter 2013 results with net income of $28.0 million and operating income of $44.4 million. They generated distributable cash flow of $26.4 million for the quarter and declared a quarterly distribution of $0.515 per unit. Recent events included completing drydockings and refinancing two vessels. Near and medium term growth opportunities include potential acquisitions of the FSRU vessels Igloo and Eskimo which have been awarded long term contracts by Golar LNG in Kuwait and Jordan respectively.
The document provides an August 2018 update on Chesapeake Energy Corporation's business strategies and operations. It discusses plans to use proceeds from an asset sale to reduce debt, goals of achieving a net debt to EBITDA ratio of 2x and free cash flow neutrality. Production from the Powder River Basin is growing rapidly and is expected to increase 90% in 2018 and 100% in 2019, driven largely by oil growth from the Turner area where 18 wells are currently producing. Drilling and completion costs in the Turner area have improved. The company has a diverse portfolio across five basins with an inventory of potential locations.
Teck’s Q4 2019 Financial Results and Investors’ Conference CallTeckResourcesLtd
Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) will release its fourth quarter 2019 earnings results on Friday, February 21, 2020 before market open.
Ship Finance International Q2 2013 results presentationTradeWindsnews
Ship Finance International reported its 2Q 2013 results on August 28, 2013. Net income for the quarter was $25.1 million, with aggregate charter revenue of $153.7 million. The company invested nearly $1 billion in new projects during the quarter, including a $600 million acquisition of a harsh environment jack-up drilling rig under long-term charter. Ship Finance has a $5.8 billion charter backlog and $261 million in total available liquidity as of the end of the quarter.
The document provides an update on Chesapeake Energy's business strategies and operations for September 2018. It discusses restoring the company's balance sheet through applying $1.9 billion in proceeds from an asset sale to debt reduction. It highlights the company's diverse portfolio across five basins and focuses on growth in the Powder River Basin, where production is ramping ahead of schedule led by the Turner opportunity. The company is improving drilling efficiencies to enhance returns in the Powder River Basin.
- SemGroup reported third quarter 2016 results with Adjusted EBITDA of $71.3 million, down from $77.7 million in the first quarter of 2016. Net income was a loss of $7.4 million.
- For full year 2016, SemGroup updated capital expenditures guidance to $350 million, a $100 million reduction due to timing of the Maurepas pipeline project.
- SemGroup has a strong balance sheet with $1.1 billion in liquidity and a leverage ratio of 3.0x at the end of the third quarter, within its target leverage of below 4.5x.
QTS Realty Trust presented its fourth quarter and full year 2020 earnings results. Key highlights included:
- Signed leasing activity in Q4 2020 was the highest on record for QTS and 40% higher than the prior year annual level.
- Full year 2020 revenue increased 12% year-over-year to $539 million.
- Adjusted EBITDA for 2020 was $299 million, an increase of 12% compared to 2019.
- 2021 guidance projects revenue growth of 12% and adjusted EBITDA growth also of 12% compared to 2020.
QTS' results demonstrated strong leasing momentum with record backlog entering 2021 to support continued growth.
Similar to GasLog Q2 2013 earnings presentation (20)
Olympic Shipping investor presentation 27 May 2014TradeWindsnews
Olympic Ship AS is contemplating a NOK 500 million bond issue to partly refinance existing bonds and for general corporate purposes. It is a leading provider of high-end offshore vessels with a fleet value of NOK 8.1 billion and a contract backlog of NOK 4.9 billion. The bond terms include a 5-year tenor, quarterly coupon payments of 3M NIBOR + 4.75-5.00%, and senior unsecured status. The market outlook is positive for Olympic Ship AS's core offshore segments, with projected strong growth in global E&P spending and deepwater production through 2020.
Ship Finance International Q1 2014 results presentationTradeWindsnews
Ship Finance International reported net income of $40.7 million for 1Q 2014 with EBITDA of $129.7 million including associated companies. Key highlights included an increased quarterly dividend of $0.41 per share, equivalent to a 9% dividend yield, and the successful delivery of 10 vessels and rigs so far in 2014. The company also has investment opportunities planned across multiple segments for the remainder of 2014 and into 2015.
Siem Offshore Inc. presented in March 2014. The presentation covered the company's financial results for 2013, future vessel construction plans, and the offshore vessel market. Key points included:
- Revenue for 2013 was $364 million with a 34% operating margin, an improvement over 2012.
- The company has 41 vessels currently in operation and 15 more under construction through 2016 with a total contract backlog value of $395 million.
- New orders in 2013 and 2014 include platform supply vessels, offshore subsea construction vessels, and well intervention vessels.
This document is a registration statement filed by Dorian LPG Ltd. with the U.S. Securities and Exchange Commission for an initial public offering of its common shares in the United States. Dorian LPG Ltd. is registering an unspecified number of its common shares. The filing includes basic company information, biographical details of officers and directors, descriptions of the company's capital stock, plan of distribution for the offering, financial statements and other standard disclosures required in such filings. The company intends to apply to list its common shares on the New York Stock Exchange.
Maersk Drilling reported strong financial results for 2013, with profits increasing from USD 347M in 2012 to USD 528M in 2013. Operational uptime also increased, from 92% in 2012 to 97% in 2013. For 2014, Maersk Drilling expects results to be below 2013 due to planned rig maintenance and start-up costs for new rigs. Maersk Drilling secured several new contracts in 2013 and has high contract coverage for 2014-2016, with a revenue backlog of USD 7.9B. The company continues expanding through its newbuild program but some rig deliveries will be delayed 2-4 months. Maersk Drilling's priorities for 2014 include successful rig deliveries and maintenance
Teekay Corp group presentation September 2013TradeWindsnews
Teekay Corporation is a leading provider of marine services to the global oil and gas industry. It has a fleet of over 170 vessels across its business segments of offshore, liquefied gas, and tankers. The presentation discusses trends supporting continued growth in the offshore and liquefied natural gas markets. It also outlines Teekay's diversified business model and significant forward fixed contracts of over $15 billion. Teekay has been pursuing a strategy of growing its daughter companies like Teekay LNG and Teekay Offshore through organic projects and dropdown acquisitions, which benefit Teekay Corporation through increasing cash distributions.
GasLog investor day presentation September 2013TradeWindsnews
- The presentation provides an overview of GasLog Ltd. and their investor day activities
- It discusses GasLog's business strategy, growth trajectory, and portfolio of LNG shipping vessels
- An external speaker then provides context on the growing LNG market and shipping demand outlook
Siem Offshore is an offshore vessel owner and operator with 38 vessels in operation and 10 under construction. The company provides offshore support vessels and has expanded into subsea vessels and offshore renewable energy. Siem Offshore reported operating revenue of $172 million for the first half of 2013 and has a contract backlog of $806 million for vessels and $180 million for submarine power cable activities. The company has a strong financial position with a book equity ratio of 44% and has secured financing for its newbuilding program through 2014.
SeaBird Exploration provides marine 2D and 3D seismic data to the oil and gas industry. It has a global presence and leading operational excellence. The company focuses on core business segments like 2D acquisition and niche 3D acquisition. It has a diversified fleet and blue-chip client base. SeaBird aims to optimize fleet utilization through a mix of long and short-term contracts while also pursuing multi-client projects to capitalize on opportunities. Historical data shows high vessel utilization and revenues, though repositioning can impact utilization. Market pricing remains strong with high tender activity in 2D and 3D segments.
The document provides an agenda and materials for a Polarcus Limited investor presentation covering highlights, financials, operations, and market updates. Key points include revenues of USD 275.3 million for the first half of 2013, up 28% from the prior year. The balance sheet was strengthened through refinancing at a reduced average interest rate of 7.1%. Operational performance showed technical downtime below 5% and completion of a large multi-client project. The company also discussed ongoing legal matters and shareholder information.
Oceanteam Shipping ASA is an Oslo Stock Exchange listed shipping company that operates a fleet of large construction support vessels and provides engineering services. The company's CEO is Haico Halbesma and CFO is Torbjørn Skulstad. Oceanteam presented at the Pareto Conference in Oslo on September 4, 2013, providing an overview of the company, its finance structure, recent financial performance, and positive market outlook for large deep-water vessels.
BW Offshore is an experienced FPSO (floating production, storage and offloading vessel) operator with 16 FPSOs and 1 FSO currently in operation. It has a global production of 700,000 barrels of oil equivalent per day and a strong safety record with a low lost time injury rate. BW Offshore has a $7.8 billion contract portfolio and significant potential for growth through existing assets and new projects. It aims to create value through contract extensions, redeployments of existing FPSOs, and potential new contracts.
This document provides an overview and summary of Atwood Oceanics for investors attending the 20th Annual Oil & Offshore Conference. It summarizes Atwood's strategy of modernizing and expanding its fleet through newbuild rig deliveries from 2011-2015. This will provide a younger fleet of ultra-deepwater floaters and high-spec jackups. The summary also outlines Atwood's strong safety and operating performance, revenue efficiency, and focus on superior shareholder returns. Key details include $3.9 billion in contracted backlog through 2016 and funding for remaining capital expenditures of $1.4 billion through operating cash flows and credit facilities.
The document reports Globus Maritime's financial and operating results for the second quarter and first half of 2013, showing improvements in adjusted EBITDA and average daily TCE rates compared to the same periods in 2012, along with details on fleet deployment and market conditions. It also provides statements of comprehensive income, financial position, cash flows, and bank debt developments.
Golar reported net income of $59.0 million for Q2 2013, including a non-cash gain of $47.9 million. EBITDA was $8.2 million for the quarter. Underlying dividends received from Golar LNG Partners increased to $16.0 million from $14.4 million in Q1. Two vessels entered layup due to volatile spot market conditions. Golar has secured $1.1 billion in funding for 8 newbuilds and concluded two 10-year FSRU charters. Cash flow from operations and dividends from Partners will help fund the remaining $720 million of the $2.74 billion newbuild program. The LNG shipping market outlook remains supported by
The document summarizes Seadrill's second quarter 2013 conference call. Key highlights include:
- Seadrill generated a record $665 million in EBITDA for Q2 2013.
- Economic utilization of floaters increased to 94% from 92% last quarter.
- Net income was $1.75 billion and earnings per share was $3.68.
- The quarterly cash dividend was increased to $0.91 per share.
Lamprell reported interim results for the first half of 2013, showing a return to profitability. Revenue was broadly flat at $521 million compared to the first half of 2012. Profit before tax was $10.1 million, compared to a loss before tax of $50.8 million in the same period last year. The company secured a new $181 million refinancing facility that matures in 2016. Operationally, several key projects were successfully delivered in the first half and the company's order book stands at $1.1 billion with a bid pipeline of $4.6 billion.
- Seadrill Partners reported net income of $22.1 million for Q2 2013 and generated distributable cash flow of $15.8 million.
- They completed the acquisition of tender rig T-15 from Seadrill Limited for $210 million.
- Seadrill Partners has opportunities for further growth through potential dropdowns of additional rigs from Seadrill's fleet of $15.4 billion in contracted backlog.
The document is a corporate presentation by ASL Marine for FY2013. It provides an overview of ASL Marine's business segments which include shipbuilding, shiprepair and conversion, shipchartering, and engineering. For FY2013, key highlights included revenue increasing 19% to $465.4 million driven by higher shipbuilding activity. Gross profit rose 47% to $83.6 million and net profit increased 40% to $45.3 million. The presentation also reviews each business segment's financial performance for FY2013 and 4Q FY2013.
This document discusses Frontline's Q2 2013 results and provides an outlook. Some key points:
- Frontline reported a net loss of $120.3 million for Q2 2013, which included a $81.3 million vessel impairment loss. Excluding impairment, the net loss was $39 million.
- Average VLCC spot rates increased to $8,000 per day in Q2 from $1,250 in Q1, while average Suezmax spot rates fell slightly to $11,500 from $12,500.
- Frontline's fleet consists of 48 vessels, including two Suezmax newbuildings with remaining payments of $87.9 million. The company expects VLCC cash breake
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GasLog Q2 2013 earnings presentation
1.
GASLOG
LTD.
Second
Quarter
Earnings
Presenta9on
2013
20
August
2013
2.
Forward
Looking
Statements
2
This
presenta6on
contains
“forward-‐looking
statements”
as
defined
in
the
Private
Securi6es
Li6ga6on
Reform
Act
of
1995.
The
reader
is
cau6oned
not
to
rely
on
these
forward-‐looking
statements.
All
statements,
other
than
statements
of
historical
facts,
that
address
ac6vi6es,
events
or
developments
that
the
Company
expects,
projects,
believes
or
an6cipates
will
or
may
occur
in
the
future,
including,
without
limita6on,
future
opera6ng
or
financial
results
and
future
revenues
and
expenses,
future,
pending
or
recent
acquisi6ons,
general
market
condi6ons
and
shipping
industry
trends,
the
financial
condi6on
and
liquidity
of
the
Company,
cash
available
for
dividend
payments,
future
capital
expenditures
and
drydocking
costs
and
newbuild
vessels
and
expected
delivery
dates,
are
forward-‐looking
statements.
These
statements
are
based
on
current
expecta6ons
of
future
events.
If
underlying
assump6ons
prove
inaccurate
or
unknown
risks
or
uncertain6es
materialize,
actual
results
could
vary
materially
from
our
expecta6ons
and
projec6ons.
Risks
and
uncertain6es
include,
but
are
not
limited
to,
general
LNG
and
LNG
shipping
market
condi6ons
and
trends;
our
con6nued
ability
to
enter
into
mul6-‐year
6me
charters
with
our
customers;
our
contracted
charter
revenue;
our
customers’
performance
of
their
obliga6ons
under
our
6me
charters
and
other
contracts;
the
effect
of
the
worldwide
economic
slowdown;
our
ability
to
obtain
financing
to
fund
capital
expenditures,
and
funding
by
banks
of
their
financial
commitments;
business
strategy,
areas
of
possible
expansion
and
expected
capital
spending
or
opera6ng
expenses;
our
ability
to
enter
into
shipbuilding
contracts
for
newbuildings
and
our
expecta6ons
about
the
availability
of
exis6ng
LNG
carriers
to
purchase,
as
well
as
our
ability
to
consummate
any
such
acquisi6ons;
our
expecta6ons
about
the
6me
that
it
may
take
to
construct
and
deliver
newbuildings
and
the
useful
lives
of
our
ships;
number
of
off-‐hire
days
and
insurance
costs;
our
an6cipated
general
and
administra6ve
expenses;
fluctua6ons
in
currencies
and
interest
rates;
our
ability
to
maintain
long-‐term
rela6onships
with
major
energy
companies;
our
ability
to
maximize
the
use
of
our
ships;
environmental
and
regulatory
condi6ons,
including
changes
in
laws
and
regula6ons
or
ac6ons
taken
by
regulatory
authori6es;
risks
inherent
in
ship
opera6on,
including
the
discharge
of
pollutants;
availability
of
skilled
labor,
ship
crews
and
management;
poten6al
disrup6on
of
shipping
routes
due
to
accidents,
poli6cal
events,
piracy
or
acts
by
terrorists;
and
poten6al
liability
from
future
li6ga6on.
A
further
list
and
descrip6on
of
these
risks,
uncertain6es
and
other
factors
can
be
found
in
our
Annual
Report
filed
with
the
SEC
on
March
28,
2013.
Copies
of
the
Annual
Report,
as
well
as
subsequent
filings,
are
available
online
at
www.sec.gov
or
upon
request
from
us.
We
do
not
undertake
to
update
any
forward-‐looking
statements
as
a
result
of
new
informa6on
or
future
events
or
developments
except
as
may
be
required
by
law.
The
declara6on
and
payment
of
dividends
is
at
all
6mes
subject
to
the
discre6on
of
our
Board
of
Directors
and
will
depend
on,
among
other
things,
risks
and
uncertain6es
described
above,
restric6ons
in
our
credit
facili6es
and
the
provisions
of
Bermuda
law
and
such
other
factors
as
the
Board
of
Directors
may
deem
relevant.
4.
Highlights
4
(1)
See
Annex
1
for
reconcilia6on
of
EBITDA,
Adjusted
EBITDA,
Adjusted
Profit
and
Adjusted
EPS.
• Contracted
2
LNG
newbuildings
at
Samsung
Heavy
Industries
for
delivery
in
2016.
Vessels
chartered
out
to
BG
Group
for
minimum
7
years
with
charterer’s
op6on
to
extend.
• Delivery
of
GasLog
Sydney
in
May
and
GasLog
Skagen
in
July
ahead
of
schedule
with
concurrent
delivery
to
the
charterer.
• For
the
second
quarter,
GasLog
reports
Profit
of
$20.4
million,
EBITDA(1)
of
$33.8
million
and
EPS
of
$0.32.
• Adjusted
Profit
of
$7.1
million,
Adjusted
EBITDA
of
$20.4
million
and
Adjusted
EPS
was
$0.11
for
the
second
quarter.
• Quarterly
dividend
of
$0.11
per
common
share
is
payable
on
September
13,
2013.
• GasLog
issued
a
senior
unsecured
bond
of
NOK
500,000,000
($83.2
million)
that
will
mature
on
June
27,
2018.
• Strong
industry
fundamentals,
supported
by
recent
posi6ve
developments
for
LNG
exports
from
USA.
5.
Financial
Highlights
5
1. See
Annex
1
for
reconcilia6on
of
EBITDA,
Adjusted
EBITDA,
Adjusted
Profit
and
Adjusted
EPS.
In
2013,
Adjusted
EBITDA,
Adjusted
Profit
and
Adjusted
EPS
exclude
the
non-‐cash
gain
primarily
caused
by
mark-‐to-‐
market
valua6on
of
interest
rate
swaps
($16.1
million
and
$12.9
million
for
the
6
and
3
months,
respec6vely).
2. Net
Financials
represents
financial
costs,
financial
income,
and
gain/(loss)
on
interest
rate
swaps,
net.
1
1
1
1
2
(USD%'000) Q2%2013 Q2%2012 Q2%2013 Q2%2012
Revenues 54,725 33,309 32,948 16,707
EBITDA 47,719 10,614 33,806 2,199
Adjusted%EBITDA 31,711 16,651 20,447 8,321
Share%of%Profit%of%Associate 743 758 355 375
Net%Financials% 5,358 (10,757) 5,897 (7,850)
Profit/(loss) 26,323 (1,381) 20,429 (3,552)
Adjusted%Profit% 10,315 4,657 7,070 2,570
EPS,%diluted%($/share) 0.42 (0.03) 0.32 (0.06)
Adjusted%EPS,%diluted%($/share) 0.16 0.09 0.11 0.04
Average%Number%of%Vessels:
Owned 3.6 2.0 4.3 2.0
Managed 15.6 14.0 16.3 14.0
Ownership%Segment:
Time%Charter%Equivalent%rates%pr.%day%
($/day)
76,729 76,885 76,596 76,890
Utilisation 100% 100% 100% 100%
6 months 3 months
9.
Financial
Highlights
–
Debt
Facili6es
9
1. Outstanding balance as of June 30, 2013.
2. Lenders have a put option that gives them the right to request repayment of the facility in full on the fifth anniversary of the delivery of the first ship serving as collateral under the facility.
3. Represents the portion of the loan bearing interest at a floating rate that has been hedged to a fixed rate by way of an interest rate swap.
4. The loan facility is split in two tranches, a) a $110 Mill. fully drawn term loan and b) a revolving credit facility of up to $50 Mill. which is currently undrawn.
5. USD value of the NOK 500 Mill. unsecured bond at the balance sheet date is $82.5 Mill.
Ship Built Bank
Loan
(USD millions)
Expected
Drawdown
Date
Maturity
GasLog Savannah 2010 DSF $140¹ N / A 2020
GasLog Singapore 2010 DnB, NBG, UBS, CBA, SEB $160¹,4 N / A 2018
GasLog Shanghai 2013 DnB, KEXIM $1341 N / A 20252
GasLog Santiago 2013 DnB, KEXIM $1341 N / A 20252
GasLog Sydney 2013 Nordea, ABN, Citi $139 2019
GasLog Skagen 2013 Nordea, ABN, Citi $139 Q3 2013 2019
Hull 2041 2013 Credit Suisse $144 Q4 2013 2020
Hull 2042 2014 DnB, SEB, CBA, ING, DSF $143 Q2 2014 2021 / 2022
Hedged pct.3
100%
Hull 2043 2014 DnB, SEB, CBA, ING, DSF $146 Q4 2014 2021 / 2022
Hull 2044 2015 DnB, SEB, CBA, ING, DSF $146 Q1 2015 2021 / 2022
75.0%
98.7%
32.9%
In total ~62.1%
covered at 4.6%
all-in fixed
interest
70.2%
70.2%
3
N/A
N / A
NOK 500 Mill. Bond N / A N / A $835 N / A 2018 100%
10.
Financial
Highlights
–
Looking
Forward
10
The
following
table
summarizes
GasLog’s
contracted
full
year
revenues
and
vessel
u6liza6on
within
the
Vessel
Ownership
segment
un6l
the
end
of
2026.
These
include
the
recently
announced
2
newbuildings
and
charter
party
agreements,
signed
in
Q3-‐2013.
1
Revenue
calcula6ons
assume
365
revenue
days
per
annum,
with
30
off-‐hire
days
when
the
ship
undergoes
scheduled
drydocking.
Two
of
our
ships
are
scheduled
to
be
drydocked
in
2015,
none
are
scheduled
to
be
drydocked
in
2016,
and
thereaner
each
ship
is
expected
to
con6nue
their
5
year
drydocking
cycle.
1
PROJECTED
REVENUE
2
Contracted
revenue
for
the
full
year
ending
December
31,
2013
is
$
133
million.
2
On#and#after#
July#1st
2013 2014 2015 2016 2017)2026 Total
Percentage)of)total)contracted)days/total)
available)days)for)the)twelve)ships 100% 100% 78% 73% 34% 43%
Total)contracted)days (days) 1,106 2,740 2,768 3,141 17,119 26,874
Total)available)days (days) 1,106 2,741 3,532 4,331 50,279 61,989
Total)unfixed)days (days) F 1 764 1,190 33,160 35,115
Contracted5time5charter5revenues (USD%mill.) 555555555555555555845 555555555555555552085 555555555555555552115 555555555555555552475 555555555555551,4085 555555555555552,1585
For#the#years
11.
Market
Update
11
USA
Canada
Strong
LNG
industry
fundamentals
con6nue
to
support
op6mism
for
mul6-‐year
forward-‐rates.
Spot
market
rates
increased
and
remain
high
compared
to
historical
levels.
Further
developments
in
Q2-‐2013
support
the
growth
in
liquefac6on
capacity
in
this
decade:
• Cheniere
took
FID
on
liquefac6on
trains
3&4
at
its
Sabine
Pass
facility.
• Freeport
LNG
became
the
second
project
to
receive
US
Dept.
of
Energy
approval
to
export
to
non-‐FTA
countries.
• Dominion
announced
the
sale
of
their
full
5.25mtpa
planned
export
capacity
from
Cove
Point,
to
buyers
Sumitomo
of
Japan
and
GAIL
of
India.
• E.ON
signed
an
agreement
with
Pieridae
Energy
to
acquire
5mtpa
for
20
years
from
a
planned
liquefac6on
facility
on
the
Canadian
East
Coast.
• BG
and
ExxonMobil
have
filed
applica6ons
for
large
projects
on
the
west
coast.
• Rosnen
has
signed
Heads
of
Agreement
with
Marubeni,
Vitol
and
SODECO
for
a
total
of
4mtpa.
Russia
12.
Business
Overview
-‐
GasLog’s
recently
announced
orders
&
charters
12
On
August
15th
2013,
GasLog
announced:
• 2
firm
orders
for
LNG
carriers
to
be
built
by
Samsung
Heavy
Industries
Co.
Ltd.,
South
Korea.
• On
delivery
in
H2-‐2016
each
ship
will
commence
7
year
6me
charters
to
a
subsidiary
of
BG.
• Lower
delivered
cost
per
vessel
than
for
the
2
ships
ordered
earlier
this
year
–
the
advantage
of
building
a
series.
• EBITDA
of
$46-‐47
million
expected
in
the
first
twelve
months
of
opera6on.
• GasLog
subsequently
holds
op6ons
for
6
LNG
carriers
at
Samsung,
4
of
which
are
priced.
• Given
the
very
aqrac6ve
terms
with
shipyard,
and
given
also
our
recent
Norwegian
Bond,
we
do
not
see
the
need
to
raise
new
equity
within
the
next
couple
of
years.
• The
LNG
carriers
are
state
of
the
art,
with
a
low
cargo
boil-‐off
and
fuel
saving
devices,
and
with
the
proven
efficiency
of
tri-‐fuel
diesel
electric
propulsion.
13. Owned Built
Capacity
(mcbm) Propulsion Charterer
Methane Nile Eagle 25% 2007 145,000 Steam
GasLog Savannah 100% 2010 155,000 TFDE1
GasLog Singapore 100% 2010 155,000 TFDE
GasLog Shanghai 100% 2013 155,000 TFDE
GasLog Santiago 100% 2013 155,000 TFDE
GasLog Sydney 100% 2013 155,000 TFDE
GasLog Skagen2
100% 2013 155,000 TFDE
Hull 2041 100% 2013 155,000 TFDE
Hull 2042 100% 2014 155,000 TFDE
Hull 2043 100% 2014 155,000 TFDE
Hull 2044 100% 2015 155,000 TFDE
Hull 2072 100% 2016 174,000 TFDE
Hull 2073 100% 2016 174,000 TFDE
Hull 2102 100% 2016 174,000 TFDE
Hull 2103 100% 2016 174,000 TFDE
Firm Charter Charterer Optional Period Under Discussions/Available
2021 2022 2023 2024 20252018 2019 2020Ship 2013 2014 2015 2016 2017
Business
Overview
–
incl.
the
2
vessels
announced
in
August
2013
13
n In addition, GasLog has options for 6 additional LNG carrier newbuildings, 4 of which are priced, with expiration Q4-2013.
1. Tri -fuel Diesel Electric.
2. GasLog Skagen has a seasonal charter for the last 5 years of its firm period
(each year: 7 months on hire, and 5 months opportunity for GasLog to employ)
14.
Summary
14
• GasLog
is
paying
a
quarterly
dividend
of
$0.11
per
share
on
September
13,
2013.
• Our
performance
in
Q2-‐2013
reflects
the
ongoing
execu6on
of
the
growth
model
that
is
expected
to
con6nue
through
2013
and
beyond.
o GasLog
Sydney
delivered
in
Q2-‐2013,
and
subsequent
delivery
of
GasLog
Skagen
in
Q3-‐2013:
4
ships
successfully
delivered
so
far
in
2013
with
one
more
to
come.
o 2
newbuildings
at
Samsung
Heavy
Industries,
with
7
year
charters
to
BG
group,
announced
in
August
2013.
• Con6nued
strong
fundamentals
for
the
LNG
industry.
• GasLog
has
the
proven
ability
to
leverage
our
plasorm
to
deliver
growth
for
our
shareholders.
15.
Annex
1
-‐
Reconcilia6on
/
Non-‐GAAP
Measures
15
Non-‐GAAP
Financial
Measures
EBITDA
represents
earnings
before
interest
income
and
expense,
taxes,
deprecia6on
and
amor6za6on.
Adjusted
EBITDA
represents
EBITDA
before
unrealized
gain/loss
on
swaps
and
foreign
exchange
gains/losses.
Adjusted
Profit
and
Adjusted
EPS
represent
earnings
and
earnings
per
share,
respec6vely,
before
unrealized
gain/loss
on
swaps
and
foreign
exchange
gains/losses.
EBITDA,
Adjusted
EBITDA,
Adjusted
Profit
and
Adjusted
EPS,
which
are
non-‐GAAP
financial
measures,
are
used
as
supplemental
financial
measures
by
management
and
external
users
of
financial
statements,
such
as
investors,
to
assess
our
financial
and
opera6ng
performance.
We
believe
that
these
non-‐GAAP
financial
measures
assist
our
management
and
investors
by
increasing
the
comparability
of
our
performance
from
period
to
period.
We
believe
that
including
EBITDA,
Adjusted
EBITDA,
Adjusted
Profit
and
Adjusted
EPS
assists
our
management
and
investors
in
(i)
understanding
and
analyzing
the
results
of
our
opera6ng
and
business
performance,
(ii)
selec6ng
between
inves6ng
in
us
and
other
investment
alterna6ves
and
(iii)
monitoring
our
ongoing
financial
and
opera6onal
strength
in
assessing
whether
to
con6nue
to
hold
our
common
shares.
This
increased
comparability
is
achieved
by
excluding
the
poten6ally
disparate
effects
between
periods
of,
in
the
case
of
EBITDA
and
Adjusted
EBITDA,
interest,
taxes,
deprecia6on
and
amor6za6on
and,
and
in
the
case
of
Adjusted
EBITDA,
Adjusted
Profit
and
Adjusted
EPS,
unrealized
gain/loss
on
swaps
and
foreign
exchange
gains/losses,
which
items
are
affected
by
various
and
possibly
changing
financing
methods,
capital
structure
and
historical
cost
basis
and
which
items
may
significantly
affect
results
of
opera6ons
between
periods.
EBITDA,
Adjusted
EBITDA,
Adjusted
Profit
and
Adjusted
EPS
have
limita6ons
as
analy6cal
tools
and
should
not
be
considered
as
alterna6ves
to,
or
as
subs6tutes
for,
profit,
profit
from
opera6ons,
earnings
per
share
or
any
other
measure
of
financial
performance
presented
in
accordance
with
IFRS.
These
non-‐GAAP
financial
measures
exclude
some,
but
not
all,
items
that
affect
profit,
and
these
measures
may
vary
among
companies.
In
evalua6ng
Adjusted
EBITDA,
Adjusted
Profit
and
Adjusted
EPS,
you
should
be
aware
that
in
the
future
we
may
incur
expenses
that
are
the
same
as
or
similar
to
some
of
the
adjustments
in
this
presenta6on.
Our
presenta6on
of
Adjusted
EBITDA,
Adjusted
Profit
and
Adjusted
EPS
should
not
be
construed
as
an
inference
that
our
future
results
will
be
unaffected
by
the
excluded
items.
Therefore,
the
non-‐GAAP
financial
measures
as
presented
below
may
not
be
comparable
to
similarly
6tled
measures
of
other
companies
in
the
shipping
or
other
industries.
16.
Annex
1
-‐
Reconcilia6on
(cont.)
16
Reconciliation of EBITDA and Adjusted EBITDA to Profit/(Loss):
(All amounts expressed in U.S. Dollars)
30-Jun-12 30-Jun-13
(Loss)/Profit for the period (3,552,127) 20,429,474
Depreciation of fixed assets 3,249,623 6,383,872
Financial costs excluding gain/(loss) on swaps 2,945,650 7,062,618
Financial income (443,859) (69,511)
EBITDA 2,199,287 33,806,453
Unrealized loss/(gain) on swaps, net 5,348,349 (12,890,391)
Foreign exchange losses/(gains), net 773,545 (468,858)
Adjusted EBITDA 8,321,181 20,447,204
For the three months ended
17.
Annex
1
-‐
Reconcilia6on
(cont.)
17
Reconciliation of Adjusted Profit to Profit/(Loss):
(All amounts expressed in U.S. Dollars)
30-Jun-12 30-Jun-13
(Loss)/Profit for the period (3,552,127) 20,429,474
Unrealized loss/(gain) on swaps, net 5,348,349 (12,890,391)
Foreign exchange losses/(gains), net 773,545 (468,858)
Adjusted Profit for the period 2,569,767 7,070,225
For the three months ended
18.
Annex
1
-‐
Reconcilia6on
(cont.)
18
Reconciliation of Adjusted Earnings Per Share to Earnings/(Loss) Per Share:
(All amounts expressed in U.S. Dollars)
30-Jun-12 30-Jun-13
(3,552,127) 20,429,474
(5,578) —
(3,546,549) 20,429,474
61,721,614 62,863,166
(0.06) 0.32
2,569,767 7,070,225
4,036 —
2,565,731 7,070,225
61,721,614 62,863,166
0.04 0.11
Adjusted earnings attributable to the owners of common shares used in the calculation of basic EPS
Weighted average number of shares outstanding
Adjusted profit for the period attributable to owners of the Group
Less: Adjusted earnings allocated to manager shares and subsidiary manager shares
EPS
(Loss)/Profit attributable to the owners of common shares used in the calculation of basic EPS
Weighted average number of shares outstanding, basic
(Loss)/Profit for the period attributable to owners of the Group
Less: Loss allocated to manager shares and subsidiary manager shares
For the three months ended
Adjusted EPS