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Höegh LNG release interim results

Published by
LNG Industry,


Höegh LNG Holdings Ltd. has reported its financial results for the quarter ended 31 March 2018.

Highlights:

  • EBITDA of US$38.1 million.
  • Profit after tax of US$13.2 million.
  • Dividend of US$0.025 per share paid in Q1.
  • Höegh Giant commenced three-year time-charter with Gas Natural Fenosa.

Subsequent events:

  • Dividend of US$0.025 per share declared in Q2 2018.
  • Höegh Esperanza was delivered on 5 April 2018 and entered into a spot charter.
  • Agreed terms for a three-year FSRU/LNGC contract for Höegh Esperanza.

CEO comments:

The President and CEO of Höegh LNG Sveinung J.S. Støhle comments: "We are pleased to deliver another quarter with strong operational results and flawless HSEQ execution demonstrative of our market-leading operational platform and industrial expertise. Our eight FSRU, Höegh Esperanza, was delivered in April and is now set to start a three-year time-charter with an energy major on a hybrid FSRU/LNGC basis. This contract will ensure that the unit will be put to seasonal use as an FSRU with corresponding rates, with intervening periods of guaranteed LNGC utilisation. Following the commencement of this charter in the coming weeks, we anticipate our financial results to reflect a full quarterly contribution from Höegh Esperanza from the third quarter onwards. Meanwhile, we continue to compete for the most attractive FSRU projects for our two uncommitted newbuildings with the objective of having established long-term employment at the time of their delivery."

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/31052018/hoegh-lng-release-interim-results/

 

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