OSLO, Norway, Aug. 23, 2018 /PRNewswire/ -- Hamilton, Bermuda, 23 August 2018 - Höegh LNG Holdings Ltd. ("Höegh LNG") today reports its financial results for the quarter and half year ended 30 June 2018
Highlights for the second quarter of 2018:
- EBITDA of USD 40.3 million
- Profit after tax of USD 7.8 million
- Dividend of USD 0.025 per share paid in the second quarter of 2018
- Höegh Esperanza commenced three-year FSRU/LNGC contract with CNOOC
Subsequent events
- Dividend of USD 0.025 per share declared in the third quarter of 2018
- Secured commitments for a USD 177 million debt financing for FSRU #9
The President and CEO of Höegh LNG Sveinung J.S. Støhle comments: "We are pleased to deliver another quarter of operational excellence and an increase in our EBITDA. During the quarter we commenced commercial operations under the three-year time charter with CNOOC for Höegh Esperanza and have subsequently reached a financial milestone by securing commitments for the debt financing for FSRU #9. Combined with good progress being made towards securing the debt financing for FSRU #10, we expect to be fully financed by both debt and equity well in advance of scheduled deliveries. Meanwhile, we are proud to have been selected as the FSRU provider for AIE's FSRU project in Port Kembla, Australia, which we believe to be a strong candidate for achieving a final FID in an attractive end market. Following a muted 2017, the tendering market has returned to a high level of activity, and Höegh LNG is in a strong position as we compete for a number of additional tenders at various stages of development"
About Höegh LNG:
Höegh LNG operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the industry leader of floating LNG solutions. Its strategy is to develop the business through an extended service offering, with large-scale FSRUs as the main product, and focus on establishing long-term contracts with attractive risk-adjusted returns involving credible counterparts. The company is publicly listed on the Oslo stock exchange under the ticker HLNG, and owns approximately 46% of Höegh LNG Partners LP (NYSE:HMLP). Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, South Korea, Indonesia, Lithuania, Egypt, Colombia and Turkey. The company employs approximately 125 office staff and 525 seafarers
Contacts:
Sveinung J. S. Støhle
President and Chief Executive Officer
Telephone +47-975-57-402
Steffen Føreid
Chief Financial Officer
Telephone +47-975-57-406
Erik Folkeson
VP IR and Strategy
Telephone +47-414-21-769
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act or the Continuing Obligations of Oslo Børs
2018 Q2 Report
2018 Q2 Presentation
This information was brought to you by Cision http://news.cision.com
http://news.cision.com/hoegh-lng/r/hoegh-lng---interim-results-for-the-quarter-and-half-year-ended-30-june-2018,c2598402
The following files are available for download:
View original content:http://www.prnewswire.com/news-releases/hoegh-lng--interim-results-for-the-quarter-and-half-year-ended-30-june-2018-300701465.html
SOURCE Höegh LNG
