FINANCIAL STATEMENTS FOR THE INTERIM PERIOD TO 30 September 2015
EPIC GAS LTD
FINANCIAL STATEMENTS FOR THE INTERIM PERIOD TO
30 September 2015
SINGAPORE, 12 November 2015 – Epic Gas Ltd. (“Epic Gas” or the “Company”) today announced its unaudited financial and operating results for the interim period ended September 30, 2015. All amounts reported in US Dollars unless otherwise stated.
A conference call to discuss these results is scheduled for 12 November 2015 at 10:00 AM (New York) / 3:00PM (London) and can be accessed via the following dial-in information.
Conference call details:
United States: +1 631 510 7498
United Kingdom: 08444933800
International: +44 (0) 1452 555566
Conference ID Number: 69452062
Third Quarter 2015 Highlights
- 3,404 Calendar days, up 11% year over year
- Revenue of $32.2 million, stable.
- Adjusted EBITDA of $8.6 million, up 30% year over year
- Time charter equivalent revenues of $8,798 per vessel calendar day, up 4% year over year
- General & administrative expenses of $1,081 per vessel calendar day, down 26% year over year.
- Forward cover as of 30 September 2015 of $61.9 million: 7,396 days at $8,369 per day
- Remaining newbuilding program of seven owned vessels totalling $121 million in capital expenditure, plus one chartered-in vessel.
- Senior secured credit facility for up to $120 million to finance remaining seven owned vessels under construction fully finalised.
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