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Höegh LNG releases its latest interim results

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LNG Industry,

Höegh LNG Holdings Ltd. has reported its financial results for the quarter ended 30 September 2019.

Highlights for the third quarter of 2019:

  • EBITDA of US$55.9?million.
  • Net profit of US$3.2?million.
  • Dividend of US$0.025 per share paid in 3Q19.
  • Höegh Galleon delivered from yard and commenced interim LNG carrier charter contract with Cheniere.

Subsequent events:

  • Dividend of US$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 US$8.6 million in net proceeds.

Sveinung J.S. Støhle (President and CEO of Höegh LNG) comments:

“Höegh LNG’s results for 3Q19 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.”

Read the article online at:

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