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Höegh LNG - Interim results for the quarter ended 31 December 2015

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Highlights

  • EBITDA of USD 24.6 million, compared to USD 26.6  million in the previous quarter 
  • Profit after tax USD (33.0) million after a USD 37.0 million impairment of FLNG investments
  • Paid dividend of USD 0.10 per share for the fourth quarter 2015
  • Completed the sale of the FSRU Höegh Gallant to Höegh LNG Partners LP

Subsequent events

  • Received firm commitments for the debt financing of FSRU#7
  • Declared dividend of USD 0.10 per share for the first quarter 2016
  • Decided to put FLNG activities on hold and allocate its FLNG resources to the FSRU segment

The President and CEO of Höegh LNG Holdings Ltd. ("Höegh LNG" or the "Company"), Sveinung J. S. Støhle, said in a comment: "The stable EBITDA is a result of the Company's strong operating performance, currently with five FSRUs in operations world-wide. The terms of the debt financing for FSRU#7 reflects Höegh LNG's leading position in the FSRU segment and demonstrates the Company's strong position in the international bank market. We continue to see very favourable market conditions for the FSRU segment, driven by ample LNG supplies and low LNG prices, which is why Höegh LNG will focus on its objective of reaching 12 FSRUs by 2019."

Link to the webcast for fourth quarter 2015: http://www.hoeghlng.com/Pages/Investor.aspx#Webcasts-5


About Höegh LNG:

Höegh LNG provides floating energy solutions and operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the industry leader of floating LNG solutions and the strategy is to continue to focus growth plans on the FSRU market, with the objective of securing long-term contracts with strong counterparts at attractive returns. Höegh LNG is a Bermuda based company with established presence in Oslo, Singapore, London, Miami, Jakarta, Klaipeda and Cairo. The company employs approximately 110 office staff and 500 seafarers

Contacts:

Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402
Steffen Føreid, Chief Financial Officer, Telephone + 47 975 57 406
Birgitte Hjertum, VP Strategy, Communication and Investor Relations, Telephone +47 975 57 432

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act or the Continuing Obligations of Oslo Børs

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