GasLog announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. The company reported fourth quarter net income of $1.146 million, or $0.08 per share against $8,498,258 a year ago. For the same quarter last year, it reported net income of $8.498 million. Total revenue of $33.3 million was just slightly below the estimated $33.19 million, and up from $21.2 million reported in fourth quarter of 2013. Profit from operations was $17,176,069 against $12,734,015 a year ago. EBITDA was $24,287,840 against $16,783,201 a year ago. Adjusted EBITDA was $24,191,091 against $16,786,287 a year ago. Adjusted profit was $11,252,456 against $8,197,125 a year ago. The decrease in Profit was affected by the write-off of the unamortized loan fees of $5.76 million in connection with the repayment of the previously existing debt facilities and an increase of non-cash loss on interest rate swaps by $4.75 million.

For the full year, revenues were $119,040,364 against $64,142,588 a year ago. Profit from operations was $64,700,226 against $37,283,512 a year ago. Profit for the period was $29,168,698 against $26,218,242 a year ago. Earnings per unit for the period, basic and diluted was $0.75. Net cash from operating activities was $78,275,677 against $32,159,026 a year ago. Payments for vessels was $317,950,977 against $452,791,594 a year ago. EBITDA was $48,296,501 and adjusted EBITDA was $48,155,789 for the year. Adjusted profit was $23,842,354.

The company reported write-off of the unamortized loan fees of $5.76 million in connection with the repayment of the previously existing debt facilities in the fourth quarter ended December 31, 2014.