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Höegh LNG: Interim results for the quarter and half year ended 30 June 2019

Friday, 23 August 2019 | 00:00

Höegh LNG Holdings Ltd. (“Höegh LNG”) yesterday reported its financial results for the quarter and half year ended 30 June 2019

Highlights for the second quarter of 2019:

· EBITDA of USD 45.7 million
· Net loss of USD 3.6 million
· Dividend of USD 0.025 per share paid in the second quarter of 2019
· Representative office opened in Shanghai, China

Subsequent events

· Dividend of USD 0.025 per share declared for the third quarter of 2019
· Executed interim LNGC charter for Höegh Galleon
· Class renewal afloat completed for PGN FSRU Lampung

The President and CEO of Höegh LNG Sveinung J.S. Støhle comments: “Höegh LNG's results for Q219 are negatively affected by seasonal variations and dry docking costs. Adjusted for these effects our underlying numbers are in line with previous quarters. I am very pleased to see that the LNG market continues its rapid growth by increasing 16% in the first half of 2019, driven by the continued coal to gas switch and ample LNG supplies available at very competitive prices across the market. This is further reflected by the important progress being made on all FSRU projects where the company is already selected as the FSRU provider or has won exclusivity. In addition, the company is engaged in negotiations and business development activities that aims to see its complete fleet of FSRUs on long-term FSRU contracts by end of 2021.”

Full Report

Source: Höegh LNG

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