OSLO’s HÖEGH AUTOLINERS has continued to report solid financial performance in the first quarter of 2025, with gross revenue of USD 329 million/NOK 3,559 million, EBITDA of USD 155 million/NOK 1,671 million, and NPAT of USD 155 million/NOK 1,672 million.
The company reported a historically strong contract backlog and increase in contract share of ~7% from Q4 2024, having signed two long-term contracts with two major international car producers, each valued at above USD 100 million.
Höegh Autoliners exercised its option to purchase the leased vessel Höegh Copenhagen and delivered Höegh New York to new owners.
AQ4 2024 dividend of USD 90 million was paid in March 2025 and a dividend for Q1 2025 of USD 158 million (USD 0.8282 per share) has been declared and will be paid out in May.
CEO Andreas Enger said: “Höegh Autoliners continued to deliver solid financial results amid ongoing global uncertainties and heightened geopolitical tensions.
“We further strengthened our long-term outlook by securing two additional multiyear contracts, bringing our total contract share to over 80%. This reflects our strategic commitment to growing contract cargo proportion with key customers and ensuring higher fleet utilization as we navigate the next phase of the market cycle.
“On the capacity side, all four of our newbuild [Aurora class] vessels are now fully operational, significantly enhancing our cargo lifting capacity for the coming months.”
Höegh said geopolitical uncertainties have dramatically increased since the start of 2025, accelerated by the announcement of US tariffs and port fees: “If fully materialized, a combination of tariffs and port fees will reduce volumes transported and increase operational costs for vessels calling US.
“We monitor the Rea Sea situation continuously and maintain regular communication with relevant stakeholders. We do not expect to return to trading through the Red Sea in the near future.
“We expect Q2 EBITDA to be in line with Q1 2025.”
Meanwhile, Höegh Target has resumed its voyage after being delayed in Melbourne by stern ramp failure. The vessel had been preparing to depart from Webb Dock West on 18 April when, according to local observers, cable failure causes the ramp to become stuck in a partially-raised position.
Following repairs Höegh Target departed 23 April for Port Kembla and is now en route to Auckland.
Leave a Reply