Brief: Hoegh Autoliners Q1 EBITDA Of $162 Mln

Hoegh Autoliners ASA

24/04/2024 06:47

April 24 (Reuters) - Hoegh Autoliners ASA  HAUTO.OL :
    * Q1 OPERATING PROFIT (EBITDA) USD 162 MILLION
    * IN Q1, GROSS FREIGHT RATE INCREASED BY 3% COMPARED TO Q4
2023 TO
USD 98.3 PER CBM.
    * TO CONTINUE TO PAY DIVIDEND THIS QUARTER AND USD 109
MILLION IS
DECLARED AND WILL BE PAID IN MAY
    * DECISION NOT TO SAIL THROUGH RED SEA LED TO SIGNIFICANT
DROP IN
VOLUMES IN Q1 DUE TO RESCHEDULING AND RECALIBRATION OF TRADE
SYSTEMS
    * ESTIMATED ANNUAL LOSS OF VOLUME IF SITUATION PERSIST IS
AROUND
800,000-900,000 CBM DUE TO LONGER VOYAGES LEADING TO REDUCED
CAPACITY
    * COMBINATION OF HIGHER SHARE OF CARGO TRANSPORTED UNDER
REPRICED
CONTRACTS AND HEALTHY SPOT MARKET EXPECTED TO CONTINUE IN Q2
    * Q1 GROSS REVENUE USD 328 MILLION/NOK 3,449 MILLION

Source text for Eikon:  ID:nObi3JVzha 
Further company coverage:  HAUTO.OL 

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