Höegh LNG - Interim results for the quarter ended 31 March 2016

Highlights

  • EBITDA of USD 26.6 million, up from USD 24.6 million in the previous quarter
  • Profit after tax USD 6.3 million, up from USD 4.0 million in the previous quarter
  • Dividend of USD 0.10 per share paid for the first quarter of 2016
  • USD 223 million debt facility signed for FSRU#7
  • Höegh Grace delivered and intermediate employment secured 
  • FLNG activities put on hold 
  • LNG Libra delivered to its new owner

Subsequent events

  • Dividend of USD 0.10 per share declared for the second quarter of 2016

The President and CEO of Höegh LNG Holdings Ltd. ("Höegh LNG"), Sveinung J. S. Støhle, said in a comment: "Our portfolio of long-term contracts continues to improve the operating results and constitutes the foundation for upholding the cash dividend at USD 0.10 per share for the second quarter of 2016. As a consequence of ample LNG being available at low prices, the average regasification flow rate on Höegh LNG's FSRU fleet has almost tripled compared with the same quarter last year. This clearly demonstrates that demand for LNG into new markets continues to increase, and we observe the same effect for our FSRU services, since Höegh LNG is currently pursuing three fast-track FSRU projects that all have a start-up that matches the delivery of FSRU#7 in March 2017". 

Link to the webcast for first quarter 2016:
http://webtv.hegnar.no/presentation.php?webcastId=33172393

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