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Höegh LNG : Interim results for the quarter ended 31 March 2017

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Hamilton, Bermuda, 24 May 2017 - Höegh LNG Holdings Ltd. ("Höegh LNG") today reports its financial results for the quarter ending 31 March 2017.

Highlights:

  • EBITDA of USD 36.7 million
  • Profit after tax of USD 11.4 million
  • Dividend of USD 0.125 per share paid in the first quarter of 2017
  • Successful placement of NOK 1,500 million in unsecured bonds maturing on 1 February 2022
  • Signed HOA with LNG producers for FSRU terminal infrastructure for the GEI project in Pakistan
  • Announced the signing of a FSRU newbuilding contract with Hyundai Heavy Industries for delivery in the fourth quarter 2018

 Subsequent events:

  • Declared dividend of USD 0.125 per share for the second quarter of 2017
  • Höegh Giant delivered from Hyundai Heavy Industries and USD 190 million in debt drawn down

The President and CEO of Höegh LNG Holdings Ltd. ("Höegh LNG"), Sveinung J. S. Støhle, comments: "We are pleased to report our best underlying results to date as Höegh Grace contributed with a full quarter of revenues in the first quarter of 2017, enabling another USD 0.125 per share dividend. Going forward, we expect to record similar stepwise earnings improvements as we start operations under long-term contracts in Ghana, Pakistan and Chile. Our focus is to prepare for these contracts, whilst at the same time we are working to further expand our USD 6.2 billion revenue backlog. We continue to operate in a positive market environment where ample LNG supply and competitive prices support FSRU demand as existing and new markets continue to import LNG, and we see ourselves well positioned to win further contracts owing to our leading market presence and solid operational track record."
  

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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 its growth plans in the FSRU market, with the objective of securing long-term contracts with strong counterparties at attractive returns. Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, South Korea, Indonesia, Lithuania, Egypt, Colombia and Turkey. The company employs approximately 115 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
Erik Folkeson, Head of IR, Telephone +47 414 21 769

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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