Hoegh Autoliners Asa · OSL:HAUTO
Hoegh Autoliners Asa — Hoegh Autoliner — Q2 2026 Earnings Presentation
30 slides from Hoegh Autoliners Asa's earnings presentation, Aug 20, 2026
Slide 1: Q2 2026 Quarterly Presentation
Q2 2026 Quarterly Presentation Quarterly presentation Q1 2024 20.08.2026
Slide 2: Disclaimer
Disclaimer This presentation, which has been prepared by Höegh Autoliners ASA (the “Company”), includes forward-looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company's plans, strategies, business prospects, changes and trend
Slide 3: Accelerating demand for car carriers on the back of unprecedented growth in Chinese vehicle export
Accelerating demand for car carriers on the back of unprecedented growth in Chinese vehicle export Market demand remains exceptionally strong, with car exports out 1 of Asia growing 31% y-o-y in H1 2026, of which China increased 68% y-o-y1 Capacity continues to tighten, with charter rates climbing f
Slide 4: Q2 special quarter; disruption to operations and energy markets
Q2 special quarter; disruption to operations and energy markets Highlights Seeing continuing trends from Q1 ME conflict continues ▪ Disruption to voyages bound for ME and trade network ▪ No vessels or cargo displaced after escort of Höegh Fairfax 1 Financial impact ▪ Continued elevated fuel price an
Slide 5: Hormuz closure managed effectively
Hormuz closure managed effectively: Successful re-routing of 16,000 units during Q2 in close dialogue with our customers Vessel deviations and discharge hubs, 28 Feb – 30 Mar 2026 Highlights Bremerhaven ▪ Nine disrupted vessels bound for the Le Havre 1000 units 700 units Arabian Gulf ▪ 16,200 units
Slide 6: Elevated fuel price with impact to both Q2 and Q3
Elevated fuel price with impact to both Q2 and Q3, however with full run-rate BAF compensation within Q3 Fuel price at consumption and change in net bunker expense Highlights ▪ Average fuel inventory onboard is 1,035 Expensed bunker price Flat development Bunker index price two months for the fleet
Slide 7: Temporary working capital build-up reduces Q2 dividend capacity
Temporary working capital build-up reduces Q2 dividend capacity, with reversal expected in coming months Change in WC end Q1 vs end Q2 USD million 54 7 23 25 0 Change in Net increase Increase in Effect of Change in WC per 31.3 in receivables bunker inventory dividend WHT WC per 30.6 Highlights ▪ Net
Slide 8: Q2 2026 highlights
Q2 2026 highlights 122 86 94.1 USD million EBITDA USD million net profit after tax USD/CBM gross rate Down 16% Q-o-Q Down 17% Q-o-Q Up 2% Q-o-Q 16 1 53 USD million dividend Feeder vessel delivered Equity ratio (%) To be paid in August Höegh Pacific Flat Q-o-Q 8 Q2 2026 Presentation | Highlights
Slide 9: Agenda
Market & Commercial Update Capacity & Sustainability Update Agenda Financial Update Outlook & Q&A
Slide 10: Market & Commercial Update
ww HOEGH AUTOLINERS Market & Commercial Update
Slide 11: Far East remains engine of growth
Far East remains engine of growth both for light vehicles and H&H Highlights ▪ Asia's global FNLV export expansion accelerated sharply in Q2 2026 to a 35.5% growth y-o-y from 27% in Q1, driven by China’s tremendous global market penetration with Q2 export up 73% y-o-y ▪ China’s H1 2026 exports excee
Slide 12: Quantum leap in Chinese exports
Quantum leap in Chinese exports; 2026 export growth equivalent to ~100 car carriers Highlights ▪ July YTD, Chinese vehicle exports reached 6.1 million units, up 68% y-o-y with June and July month this year saw Chinese exports exceed 1 million units. ▪ Full-year 2026 exports from China are expected t
Slide 13: De-containerization of cars represents a potential market stabilizer
De-containerization of cars represents a potential market stabilizer when supply-demand balance normalizes Deep-sea China FNLV export vs RoRo - indexed volume Market impact ▪ We estimate that containerized cars Deep-sea FNLV exports RORO are 25–30% of deep-sea volumes ex- China which translates to 2
Slide 14: Contract backlog: Improving momentum for contracting as capacity market tightens
Contract backlog: Improving momentum for contracting as capacity market tightens further Cargo and contract backlog 2026 4% lifting Contracts 1% 10% capacity ▪ Contract share of volume shipped 80% in H1 2026 9% ▪ Average duration of contract backlog 3.2 years 17% 80% 13% contract ▪ New contracts amo
Slide 15: Capacity & Sustainability Update
Capacity & Sustainability Update
Slide 16: Market tightness exceeding expectations
Market tightness exceeding expectations – use of short-term capacity continues in Q2 Highlights ▪ 1-year TC index has increased to $80k/day, +60% vs. Q1 ($50k) for panamaxes ▪ 15 PCTCs delivered in Q2, sizes ranging from 2,450-10,800 CEU. ▪ 21 remaining vessels to be delivered in 2026 ▪ The orderboo
Slide 17: Growth in Chinese deep-sea exports has so far absorbed all newbuilding deliveries
D2 Growth in Chinese deep-sea exports has so far absorbed all newbuilding deliveries since 2020 with a ~74 ship gap to be filled Chinese deep-sea exports growth CEU million +50% +48% 7,4 +22% +32% 4,9 +70% +111% 3,3 2,7 2,1 1,2 0,6 2020 2021 2022 2023 2024 2025 2026 run-rate Chinese deep-sea export
Slide 18: Record low carbon intensity in Q2
Record low carbon intensity in Q2 with eight Aurora vessels in full operation Carbon intensity performance -3% 5.42 -11% -5% 5.30 5.16 5.05 5.05 5.18 5.02 4.48 4.51 4.25 2023 Q2 2024 Q2 2025 Q2 2026 Q1 2026 Q2 CgDist CII target ▪ Long-term reductions in fleet carbon intensity continue, Q2 18% lower
Slide 19: Aurora class vessels delivering superior performance
Aurora class vessels delivering superior performance; vessel #9-12 with ammonia engines in operation from 2027 Setting a new PCTC standard Construction at CMHI Jiangsu Aurora #1-8 delivered and in operation Aurora #9-12 with ammonia engine 2021 2022 2023 2024 2025 2026 2027 Estimated cash cost1 for
Slide 20: Financial Update
HOEGH AUTOLINERS Financial Update
Slide 21: Rate and volume stable q-o-q despite ME disruption
Rate and volume stable q-o-q despite ME disruption Volumes transported Net rate CBM million USD per CBM +3.4% +2.6% -3.2% +0.1% 3,9 4,0 3,9 3,9 4,0 81,6 80,3 79,0 78,9 79,0 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 21 Q2 2026 Presentation | Financial Update
Slide 22: Q2 EBITDA down $23m q-o-q
Q2 EBITDA down $23m q-o-q following a $22m net fuel impact Highlights ▪ Fuel cost up 39% or $21m while BAF revenues were down $1m q-o-q ▪ Additional operating expenses related to re-routing of disrupted cargo fully invoiced to impacted customers ▪ Reduction in net profit before tax mitigated by gain
Slide 23: Q2 EBITDA impacted by elevated bunker prices ahead of BAF recovery
Q2 EBITDA impacted by elevated bunker prices ahead of BAF recovery EBITDA q-o-q Highlights USD million ▪ BAF mechanisms are expected to recover the fuel price increase, 145 16 21 with a 5-6 months time lag 10 122 7 0 ▪ Higher one-off operating expenses offset by additional revenue ▪ Continued use of
Slide 24: Strong balance sheet with healthy ratios and solid liquidity
Strong balance sheet with healthy ratios and solid liquidity Highlights ▪ Equity ratio remains solid at 53% ▪ Increase in net interest bearing debt due to increase in "right-of-use asset", and lower cash balance end Q2 ▪ Cash balance of USD 216 million accompanied by undrawn credit facility of USD 1
Slide 25: Cash generation impacted by temporary increase in working capital
Cash generation impacted by temporary increase in working capital, with reversal expected in coming months Cash balance q-o-q Highlights USD million ▪ Increase in working capital 413 resulting in negative impact to 16 cash conversion ratio in Q2 67 35 294 1 197 ▪ Net Capex1 related to drydock, 94 21
Slide 26: Successful refinancing of loan facilities 1H 2026
Successful refinancing of loan facilities 1H 2026 Attractive long-term financing arrangements with 8 leading international banks USD 640 million facilities agreement successfully amended and extended, comprising of: ▪ USD 440 million term loan ▪ USD 200 million revolving credit facility ▪ Facilities
Slide 27: Excess cash balance to be paid out in August
Excess cash balance of USD 16 million to be paid out in August Highlights Overview of dividend paid and declared L12M USD million 17 16 376 Consecutive quarterly dividends 94 1.74 137 30 99 USD billion total dividend1 Paid and declared 96 Aug-25 Nov-25 Mar-26 May-26 Aug-26 Dividend L12M NOK dividend
Slide 28: Outlook
ww HOEGH AUTOLINERS Outlook
Slide 29: Outlook
Outlook ▪ Demand for ocean transportation is accelerating, supported by strong growth in exports from China Market outlook for both vehicles and High & Heavy ▪ The capacity market is further tightening with +60% increase in July charter index price vs Q1 ▪ Q3 remains impacted by high fuel prices and
Slide 30: Thank you!
Thank you! www.hoeghautoliners.com