Höegh LNG: Interim results for the quarter ended 31 March 2019

Hamilton, Bermuda, 29 May 2019 - Höegh LNG Holdings Ltd. ("Höegh LNG") today reports its financial results for the quarter ended 31 March 2019

Highlights for the first quarter of 2019: 

  • EBITDA of USD 55.9 million
  • Net profit of USD 4.5 million
  • Dividend of USD 0.025 per share paid in the first quarter of 2019

Subsequent events 

  • Dividend of USD 0.025 per share declared for the second quarter of 2019
  • AIE’s Port Kembla FSRU project received development consent
  • First class renewal survey afloat completed for FSRU Independence
  • HMLP issued new common units and series A preferred units in April and May under its ATM programme equal to USD 2.2 million in net proceeds

The President and CEO of Höegh LNG Sveinung J.S. Støhle comments: "Höegh LNG continues to deliver steady quarterly results, and we are very pleased with the progress we are making across the Asia-pacific region in securing new long-term FSRU contracts for our expanding fleet. The LNG market has a positive momentum, underpinned by the growing supply of LNG and the widespread drive to use natural gas as the backup for renewable energy and to replace coal and oil with cleaner-burning and competitively priced natural gas.”

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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, the Philippines, Singapore, the UK, USA, South Korea, Indonesia, Lithuania, Egypt, Colombia and Turkey. The group employs approximately 155 office staff and 545 seafarers.

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

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.