Hoegh Autoliners ASA

HAUTO

Equity

ISIN NO0011082075 / Valor 114974097

Oslo Stock Exchange (2024-12-11)

NOK 111.00-2.03%

Hoegh Autoliners ASA
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About company

Hoegh Autoliners ASA is a prominent player in the global ocean transportation industry, specializing in Roll-on Roll-off (RoRo) services with a fleet of Pure Car and Truck Carrier (PCTC) vessels. The company offers secure and efficient deep sea transportation for a variety of RoRo cargo, including cars, heavy machinery, and breakbulk. With a focus on sustainability, Hoegh Autoliners is investing in the development of the Aurora Class vessels, which are designed to operate on zero-carbon ammonia fuel, setting a new standard for environmentally friendly shipping. The company's diverse customer base includes global vehicle manufacturers, construction equipment producers, and other cargo owners, benefiting from Hoegh Autoliners' flexible fleet and reliable services.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Record Financial Performance

Hoegh Autoliners ASA reported another record financial performance in the second quarter of 2024. The company achieved gross revenue of USD 341 million (NOK 3,665 million), reflecting its strong market position and operational efficiency.

Operating Profit and Net Profit

In Q2 2024, Hoegh Autoliners ASA recorded an operating profit (EBITDA) of USD 174 million (NOK 1,865 million). The net profit after tax for the same period was also USD 174 million (NOK 1,865 million), indicating robust profitability.

Dividend Distribution

Hoegh Autoliners ASA declared a dividend of USD 127 million for the second quarter of 2024, which will be paid out in August 2024. This follows a Q1 2024 dividend of USD 109 million that was paid in May 2024, demonstrating the company's commitment to returning value to shareholders.

Fleet Optimization

During Q2 2024, Hoegh Autoliners ASA sold the Hoegh Kobe, an 18-year-old mid-size vessel, for USD 59 million. This strategic move is part of the company's efforts to optimize its fleet in anticipation of the delivery of the first Aurora class vessel in early August.

Outlook for 2024

Hoegh Autoliners ASA does not expect significant market changes for the rest of 2024. Despite geopolitical and macroeconomic uncertainties, the company anticipates another strong quarter in Q3 2024, with results expected to be in line with Q2 2024.

Summarized from source with an LLMView Source

Key figures

24.1%1Y

429%3Y

%5Y

Performance

48.5%1Y

51.8%3Y

51.8%5Y

Volatility