Höegh LNG interim results released

Highlights:

• EBITDA of US$37.7 million
• Profit after tax of US$8.5 million
• Dividend of USD 0.125 per share paid in the second quarter of 2017
• Höegh Giant delivered from Hyundai Heavy Industries

Subsequent events:

• Dividend of US$0.125 per share declared in the third quarter of 2017
• Signed MoU with Nakilat for the development of new FSRU projects
• Secured commitments for a US$230 million debt financing for FSRU #8
• Höegh LNG Partners increasing its ownership stake in GDF Suez Cape Ann and Neptune

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

"We are pleased to report stable financial results for the second quarter, backed by our solid operational performance, enabling another US$0.125 per share dividend. So far in the third quarter, we have executed on our financial strategy by securing flexible and attractive financing for FSRU #8, and have further expanded our revenue backlog through Höegh LNG Partners' acquisition of an additional 23.5% interest in the Neptune FSRUs. As we look forward to an expanding FSRU market with many promising growth opportunities, we believe that our recently announced strategic alliance with Nakilat not only confirms our leadership position, but also opens a new channel for Höegh LNG to pursue projects jointly with the world's largest LNG carrier company. As the ready availability of LNG at competitive prices continues to be an appealing proposition, Höegh LNG is ideally positioned to achieve substantial growth as a global provider of FSRUs."

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/25092017/hegh-lng-interim-results-released/