EPIC GAS LTD. FINANCIAL STATEMENTS FOR THE INTERIM PERIOD TO 30 September 2017

EPIC GAS LTD.
FINANCIAL STATEMENTS FOR THE INTERIM PERIOD TO
30 September 2017

EPIC GAS LTD.
FINANCIAL STATEMENTS FOR THE INTERIM PERIOD TO
30 September 2017

SINGAPORE, 9 November 2017 – Epic Gas Ltd. (“Epic Gas” or the “Company”) today announced its unaudited financial and operating results for the interim period ended September 30, 2017. All
amounts reported in US Dollars unless otherwise stated.
A conference call to discuss these results is scheduled for 9 November 2017 at 10:00 AM (New York) /
3:00PM (London) and can be accessed via the following dial-in information.

Conference call details:

United States:                   +1 845 507 1610
United Kingdom:             +44 203 651 4876
Norway:                              80010866
International:                   +61 283 733 610
Conference ID Number: 8578809

Third Quarter 2017 Highlights

  • 3,858 calendar days, up 10% year over year
  • Revenue of $34.5 million, up 11% year over year
  • Time charter equivalent revenues of $7,960 per vessel calendar day, up 8% year over year
  • General and administrative expenses of $1,012 per vessel calendar day, up 6% year over year
  • Adjusted EBITDA of $7.1 million, up 34% year over year
  • Net Loss of $5.7 million, down 14% year over year
  • Forward cover for balance of 2017 stands at 65%, and 23% for 2018 as of 30 September 2017
  • Completed sale-and-bareboat charter back of one 11,000cbm, 2017 built LPG carrier
  • Took delivery of one 7,500cbm, 2009 built LPG carrier, bringing the Company’s on the water fleet to 42 vessels as of 30 September 2017

Please click here to download a full copy of the financial statements.