Höegh Autoliners ASA reported strong financial performance for the first quarter of 2025, demonstrating resilience in the face of global uncertainties. The company achieved gross revenue of USD 329 million (NOK 3,559 million), with an operating profit (EBITDA) of USD 155 million (NOK 1,671 million) and a net profit after tax also at USD 155 million (NOK 1,672 million).
Among the highlights for the quarter, Höegh Autoliners recorded a notable operating profit and net profit, both standing at USD 155 million. The company also experienced a historic contract backlog, with a 7% increase in contract share from the previous quarter.
This accomplishment was bolstered by signing two long-term contracts with prominent international car manufacturers, each valued at over $100 million. Additionally, the company exercised the option to purchase the leased vessel Höegh Copenhagen and successfully delivered Höegh New York to its new owner.
In March 2025, the company distributed a dividend of USD 90 million for Q4 2024. Additionally, a substantial dividend of USD 158 million (USD 0.8282 per share) for Q1 2025 has been declared and is scheduled for payment in May.
CEO Andreas Enger highlighted the company’s strategic growth in contract cargo proportion and higher fleet utilization, reinforcing their commitment to delivering shareholder value. Looking ahead, geopolitical uncertainties have escalated since the start of 2025, particularly due to the introduction of US tariffs and port fees, which could affect transportation volumes and operational costs.
The company continues to closely monitor the situation in the Red Sea and maintain communication with stakeholders, indicating that a return to trading through this region is not expected soon. They anticipate Q2 EBITDA to align with Q1 results.