EX-99.1 2 tm2529350d1_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

GasLog Partners LP Reports Financial Results for the Three-Month Period Ended September 30, 2025

 

Majuro, Marshall Islands, October 24, 2025, GasLog Partners LP (“GasLog Partners” or the “Partnership”) (NYSE: GLOP-PA, GLOP-PB, GLOP-PC), an international owner and operator of liquefied natural gas (“LNG”) carriers, today reported its financial results for the three-month period ended September 30, 2025.

 

Recent Developments

 

Sale of Vessel

 

In September 2025, GasLog Partners entered into an agreement to sell, subject to customary and other closing conditions, the Methane Jane Elizabeth, a 145,000 cubic meter steam turbine propulsion (“Steam”) LNG carrier built in 2006, to an unrelated third party for a gross sale price of approximately $25.0 million, resulting in the reclassification of the vessel as held for sale and the recognition of an impairment loss of $22.3 million as of September 30, 2025. The sale was completed on October 13, 2025.

 

GasLog Partners Dividend Declarations

 

On September 25, 2025, the board of directors of GasLog Partners approved and declared a quarterly cash distribution of $2.93 per common unit to GasLog Ltd. (“GasLog”) that was settled immediately.

 

Quarterly Financial Results

 

 

Amounts in thousands of U.S. dollars

  For the three months ended 
   September 30,
2024		   September 30,
2025		 
Revenues  $85,670   $60,863 
Profit/(loss) for the period  $44,488   $(13,033)

 

Revenues were $60.9 million for the quarter ended September 30, 2025 ($85.7 million for the same period in 2024). The decrease of $24.8 million is mainly attributable to the 184 less available days due to the redelivery of the Methane Heather Sally to its owners and the sale of the Methane Alison Victoria in July 2025, the 2024 and 2025 fixtures at lower rates due to the weak market and the 198 idle days in the quarter ended September 30, 2025 (nil idle days for the quarter ended September 30, 2024) .

 

Loss was $13.0 million for the quarter ended September 30, 2025 (profit of $44.5 million for the same period in 2024). The decrease in profit of $57.5 million is mainly attributable to a) $23.6 million non-cash impairment loss, $22.3 million of which relate to the agreement to sale the Methane Jane Elizabeth, b) a decrease of $8.3 million in non-cash gain on disposal of vessel ($8.2 million non-cash gain on disposal was recognized in the quarter ended September 30, 2024 as a result of the GasLog Santiago sale and leaseback completed on August 27, 2024) and c) a decrease of $24.8 million in revenues, as discussed above.

 

 

 

 

Unaudited condensed consolidated statements of financial position

(All amounts expressed in thousands of U.S. Dollars)

 

   December 31, 2024   September 30, 2025 
Assets          
Non-current assets          
Other non-current assets   1,482    1,197 
Tangible fixed assets   1,276,472    1,141,071 
Right-of-use assets   129,890    87,928 
Total non-current assets   1,407,844    1,230,196 
Current assets          
Vessel held for sale   —    24,133 
Trade and other receivables   13,383    18,439 
Inventories   2,725    5,782 
Due from related parties   10,408    5,301 
Prepayments and other current assets   3,986    2,875 
Cash and cash equivalents   7,771    3,292 
Total current assets   38,273    59,822 
Total assets   1,446,117    1,290,018 
Partners’ equity and liabilities          
Partners’ equity          
Common unitholders and general partner   1,016,574    888,267 
Preference unitholders   280,129    279,945 
Total partners’ equity   1,296,703    1,168,212 
Current liabilities          
Trade accounts payable   7,733    9,590 
Other payables and accruals   33,784    36,894 
Lease liabilities—current portion   42,741    40,737 
Total current liabilities   84,258    87,221 
Non-current liabilities          
Lease liabilities—non-current portion   64,852    34,351 
Other non-current liabilities   304    234 
Total non-current liabilities   65,156    34,585 
Total partners’ equity and liabilities   1,446,117    1,290,018 

 

Unaudited condensed consolidated statements of profit or loss

(All amounts expressed in thousands of U.S. Dollars)

 

   For the three months ended   For the nine months ended 
   September 30, 2024   September 30, 2025   September 30, 2024   September 30, 2025 
Revenues   85,670    60,863    271,037    211,371 
Voyage expenses and commissions   (1,370)   (4,776)   (4,295)   (15,027)
Vessel operating costs   (17,345)   (16,008)   (50,639)   (47,882)
Depreciation   (25,801)   (24,790)   (76,167)   (81,032)
General and administrative expenses   (3,650)   (3,419)   (12,091)   (10,299)
Gain/(loss) on disposal of vessel   8,196    (137)   8,196    (137)
Impairment loss   —    (23,558)   —    (58,170)
Profit/(loss) from operations   45,700    (11,825)   136,041    (1,176)
Financial costs   (1,232)   (1,219)   (3,193)   (3,992)
Financial income   20    11    143    63 
Total other expenses, net   (1,212)   (1,208)   (3,050)   (3,929)
Profit/(loss) for the period   44,488    (13,033)   132,991    (5,105)