Höegh Autoliners shares fall after 'softer' update and 'more muted' outlook

Hoegh Autoliners ASA

07/10/2025 08:43

** Shares in Norwegian car carrier Höegh Autoliners HAUTO.OL fell as much as 9% after the company released its September trading update

** The average gross freight rate declined to USD 90.3 per cbm in September, down from USD 92.3 per cbm for the quarter overall

** Höegh said it expects Q3 EBITDA to be at the low end of its previously communicated guidance, which was issued following its Q2 results

** "The CEO of Höegh highlighted that Q3 has been impacted by weakening trade balance which is likely to continue," note analysts for SEB

** They add the company reiterates that it has increased short-term charter exposure, highlighting the increased cost element of this

** SEB also points to implementation of USTR port fees which is likely to add cost pressure in coming months if implemented as planned

** "Overall, a softer update and more muted outlook from the company," says the brokerage

** Share on track for its worst day since May

** Shares in Höegh's peer Wallenius Wilhelmsen WAWI.OL fell 5% in morning trade

 (Reporting by Agnieszka Gosciak-Rabalska)

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