Höegh LNG - Interim results for the quarter ended 31 March 2013

Highlights

  • Total income USD 29.5 million, up 6 % from USD 27.7 million in the first quarter 2012
     
  • Operating profit before depreciation USD 7.5 million, up from USD 5.8 million in the first quarter 2012
     
  • Loss before tax USD 7.6 million, compared to a loss of USD 3.9 million in the first quarter 2012
     
  • Replaced an obligation to acquire 50 % of STX Frontier with a right to acquire 100 % of the vessel within the second quarter 2013

Subsequent events

  • Commitment letters received from five international banks for a USD 299 million Limited Recourse Facility for the debt financing of the FSRU and Mooring system to be located in Indonesia
     
  • A time charter entered into with Gas Natural for LNG Libra
     
  • GDF Suez Cape Ann to become China's first floating LNG import terminal

"While we have increased our total income in the first quarter by six percent year-on-year, we are also pleased to have secured long-term debt financing of our FSRU project in Indonesia and secured employment for LNG Libra."


Sveinung J.S. Støhle

President and Chief Executive Officer


Reference is made to Höegh LNG's interim report and presentation published on the Oslo Stock Exchange's www.newsweb.no and on www.hoeghlng.com.


About Höegh LNG

Höegh LNG is a provider of floating LNG infrastructure services, offering regasification, transportation and production services under long-term contracts.  The company operates a fleet of six LNG transportation vessels and two floating storage and regasification units (FSRUs). In addition, Höegh LNG has four new FSRUs on order and has developed a solution for floating LNG production (FLNG).  Höegh LNG is a Bermuda based company with established presence in Oslo, Singapore, London and Tampa.  The Company employs about 80 office staff and about 350 sea farers.

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
Arild Jæger, Investor Relations, Telephone +47 975 57 408

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.