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Hoegh LNG reports latest interim results

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LNG Industry,

Höegh LNG Holdings Ltd. (Höegh LNG) has reported its financial results for the quarter ended 31 March 2019.

Highlights for the first quarter of 2019:

  • EBITDA of US$55.9 million.
  • Net profit of US$4.5 million.
  • Dividend of US$0.025 per share paid in 1Q19.

Subsequent events:

  • Dividend of US$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 US$2.2 million in net proceeds.

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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