|
October 26, 2023 Höegh Autoliners ("Höegh Autoliners" or the "Company", ticker code: HAUTO) continued to report strong financial performance for the third quarter of 2023. The gross revenue was USD 355 million (unchanged Q-o-Q)/NOK 3,719 million, operating profit (EBITDA) was USD 185 million (up 2% Q-o-Q)/NOK 1,942 million, and net profit after tax was USD 142 million (up 7% Q-o-Q)/NOK 1,491 million. Highlights of the quarter • Slight volume decrease in the third quarter while the net rate increased to a new high level of USD 78.5 per CBM (up 5% Q-o-Q). Gross freight rate increased by 4% compared to Q2 2023 to USD 90.5 per CBM. • Record operating profit of USD 185 million as a result of strong net rate, continuing cost efficiency, and lower bunker prices. • Agreement with Kongsberg Digital signed, strengthening the ambition to lead the way in green maritime technology. • Höegh Autoliners was included in OBX index from 15 September 2023. • Dividend for the second quarter of USD 67 million paid in August 2023. The dividend for the third quarter of USD 70 million (USD 0.3669 per share)/NOK 784 million (NOK 4.1072 per share) is declared and will be paid in November 2023. The dividend represents 50% of the net profit adjusted for non-payable taxes. Andreas Enger, CEO of Höegh Autoliners, comments: "I am pleased to share that Höegh Autoliners has delivered another exceptional quarter. Throughout the third quarter, Höegh Autoliners maintained strong rate momentum thanks to a good combination of robust cargo support from our contract customers and favorable opportunities in the spot market. Despite the negative impact of delays and port congestions, we consistently served our customers and filled up vessels on all trades. The third quarter dividend is increased to USD 70 million, illustrating our strong commitment to generating shareholders' returns. The ongoing process of optimizing our contract portfolio, coupled with our solid balance sheet and strong cash generation, positions us favorably for future growth and our transformation into the most environmentally sustainable PCTC company." Outlook The demand situation remains strong. Growth in global car sales and exports is leading to increased demand for PCTCs at healthy rates. We expect this situation to continue through the fourth quarter. Financially we expect Q4 to be another strong quarter for Höegh Autoliners. Please find attached the Q3 2023 report. The results will also be presented by CEO Andreas Enger and CFO Per Øivind Rosmo at 08:30 CET today. The presentation will be held in English, and a recorded version of the webcast together with the presentation will be made available on our website soon after the webcast ends. About Höegh Autoliners: Höegh Autoliners is a leading global provider of RoRo (Roll On Roll Off) transportation services delivering cars, high and heavy and breakbulk cargoes across the world. The Company operates around 40 RoRo vessels in global trade systems and makes about 3 000 port calls each year. Our purpose is to develop innovative solutions for greener and more sustainable deep sea transportation. We are on a path to a zero emissions future and are working closely with customers and partners to achieve this. Höegh Autoliners has its head office in Oslo, Norway and employs around 390 people in its 16 offices worldwide and around 1 170 seafarers. Höegh Autoliners press release 
|
