GasLog Partners reports financial results for the three-month period ended September 30, 2018
GasLog Partners LP, an international owner and operator of liquefied natural gas (“LNG”) carriers, today reports its financial results for the three-month period ended September 30, 2018 and announces its acquisition of the Methane Becki Anne from GasLog Ltd. (“GasLog”).
Highlights
Post-quarter end acquisition of the Methane Becki Anne from GasLog for $207.4 million, including assumed debt of $93.9 million, with attached multi-year charter to a subsidiary of Royal Dutch Shell plc (“Shell”).
Agreement for the sale of 2,250,000 common units to funds managed by Tortoise Capital Advisors, L.L.C. (“Tortoise”) for gross proceeds of $53.1 million through the Partnership’s at-the-market common equity offering programme (“ATM Programme”).
Quarterly Revenues, Profit, Adjusted Profit(1) and EBITDA(1) of $81.9 million, $27.3 million, $25.6 million and $58.9 million, respectively.
Highest-ever quarterly Partnership Performance Results for Revenues(2) and EBITDA(1)(2) of $81.9 million and $58.9 million, respectively.
Cash distribution of $0.53 per common unit for the third quarter of 2018, 2.4% higher than the third quarter of 2017.
Distribution coverage ratio(3) of 1.06x.
About GasLog Partners
GasLog Partners is a growth-oriented master limited partnership focused on owning, operating and acquiring LNG carriers under multi-year charters. Upon closing of the acquisition of the Methane Becki Anne, GasLog Partners' fleet will consist of 14 LNG carriers with an average carrying capacity of approximately 157,000 cbm.
