Höegh LNG: Interim results for the quarter and half year ended 30 June 2019

2019 Q2 Presentation_Hamilton, Bermuda, 22 August 2019 - Höegh LNG Holdings Ltd. ("Höegh LNG") today reports its financial results for the quarter and half year ended 30 June 2019

Highlights for the second quarter of 2019:

  · EBITDA of USD 45.7 million
  · Net loss of USD 3.6 million
  · Dividend of USD 0.025 per share paid in the second quarter of 2019
  · Representative office opened in Shanghai, China

Subsequent events

  · Dividend of USD 0.025 per share declared for the third quarter of 2019
  · Executed interim LNGC charter for Höegh Galleon
  · Class renewal afloat completed for PGN FSRU Lampung

The President and CEO of Höegh LNG Sveinung J.S. Støhle comments: “Höegh LNG’s results for Q219 are negatively affected by seasonal variations and dry docking costs. Adjusted for these effects our underlying numbers are in line with previous quarters. I am very pleased to see that the LNG market continues its rapid growth by increasing 16% in the first half of 2019, driven by the continued coal to gas switch and ample LNG supplies available at very competitive prices across the market. This is further reflected by the important progress being made on all FSRU projects where the company is already selected as the FSRU provider or has won exclusivity. In addition, the company is engaged in negotiations and business development activities that aims to see its complete fleet of FSRUs on long-term FSRU contracts by end of 2021.”

***

Contacts: 

Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402 
Håvard Furu, Chief Financial Officer, Telephone +47 991 23 443
Knut Johan Arnholdt, VP IR and Strategy, Telephone +47 922 59 131

About Höegh LNG: 

Höegh LNG 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. Its strategy is to develop the business through an extended service offering, with large-scale FSRUs as the main product, and focus on establishing long-term contracts with attractive risk-adjusted returns involving credible counterparts. The company is publicly listed on the Oslo stock exchange under the ticker HLNG, and owns approximately 46% of Höegh LNG Partners LP (NYSE:HMLP). 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 group employs approximately 155 office staff and 545 seafarers.