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Höegh LNG : Interim results for the quarter ended 30 September 2019

Hamilton, Bermuda, 21 November 2019 – Höegh LNG Holdings Ltd. (”Höegh LNG”) today
reports its financial results for the quarter ended 30 September 2019
Highlights for the third quarter of 2019:

  • EBITDA of USD 55.9 million 
  • Net profit of USD 3.2 million 
  • Dividend of USD 0.025 per share paid in the third quarter of 2019 
  • Höegh Galleon delivered from yard and commenced interim LNGC charter contract with Cheniere 

 

Subsequent events:

  • Dividend of USD 0.025 per share declared for the fourth quarter of 2019 
  • AIE Australia announced process to modify its FSRU terminal development consent to allow for increased annual LNG import volumes 
  • HMLP issued new series A preferred units in October and November under its ATM programme equal to USD 8.6 million in net proceeds   

The President and CEO of Höegh LNG Sveinung J.S. Støhle comments: ”Höegh LNG’s results for Q3 2019 shows strong improvement compared to the previous quarter due to no negative one-off effects and solid operating performance across the fleet. I am pleased to see continued healthy demand for FSRUs in the market, as reflected by two new projects where Höegh LNG is participating in the formal tender process. The rapid growth in the LNG market continues with 15% volume growth year to date driven by more LNG coming to the market at competitive prices, which supports continued demand for LNG, particularly in the high growth economies in Asia”

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