Hoegh Autoliners Asa · OSL:HAUTO
Hoegh Autoliners Asa — Hoegh Autoliner — Q4 2025 Earnings Presentation
24 slides from Hoegh Autoliners Asa's earnings presentation, Feb 25, 2026
Slide 1: Q4 2025 Quarterly presentation
Q4 2025 Quarterly Presentation Quarterly presentation Q1 2024 25.02.2026 24.10.2024
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: 2025 is another year with solid performance
2025 is another year with solid performance Key figures for Q4 2025 Key figures full year 2025 145m 105m 91.4 621m 513m 93.4 USD Net profit after USD/CBM gross USD Adj. EBITDA USD Net profit after USD/CBM gross tax rate USD Adj. EBITDA Down 7% Q-o-Q tax rate Down 20% Q-o-Q Down 1% Q-o-Q 99m 1 55 424
Slide 4: Agenda
Market & Commercial Update Sustainability Update Agenda Capacity Update Financial Update Outlook & Q&A
Slide 5: Market & Commercial Update
ww HOEGH AUTOLINERS Market & Commercial Update
Slide 6: China car boom: Rapid growth across all core regions
China car boom: Rapid growth across all core regions Key highlights -20% +36% ▪ Europe remains China’s single largest export market 4% +23% Russia/CIS 6% 21% ▪ Less constrained markets as Africa, 8% W/C Europe +52% Middle East and South America see +49% 2025 11% high growth and substantially increas
Slide 7: Light vehicle market: Export growth held up by China
Light vehicle market: Export growth held up by China Highlights ▪ Global estimated light vehicle sales remained resilient in Q4 2025 expanding 8% Q-o-Q to 24.6 million units. Latest 2025 sales forecast has been upgraded from a 2.4% to 3.0% Y-o-Y growth ▪ Asia's global export expansion accelerated in
Slide 8: High & Heavy market: To resume consistent growth from 2026
High & Heavy market: To resume consistent growth from 2026 Highlights ▪ Global H&H sales are expected to have contracted by 2% in 2025 but are expected to rise by 3% in 2026. ▪ U.S. equipment sales are expected to have declined in 2025 due to inflationary impact of expanded import tariffs on steel-
Slide 9: Contract backlog: Fully booked for 2026 and strong momentum into 2027
Contract backlog: Fully booked for 2026 and strong momentum into 2027 Cargo and contract backlog Contracts 2026 lifting ▪ Contract share of volume transported up to 84% in Q4 2025, up from 9% capacity 10% 80% in Q3. 1% ▪ Average duration of contract backlog 2.9 years 11% 80% 29% contract ▪ New contr
Slide 10: Sustainability Update
Sustainability Update
Slide 11: Energy-efficiency measures and continued fleet optimization maintain strong YoY carbon intensity performance
Energy-efficiency measures and continued fleet optimization maintain strong YoY carbon intensity performance Carbon intensity performance Introduced Onshore Power Supply -2% -3% 5.53 -10% 5.42 5.30 5.16 5.16 5.23 5.10 4.94 4.36 4.45 2022 Q4 2023 Q4 2024 Q4 2025 Q3 2025 Q4 CgDist CII target ▪ Fleet-w
Slide 12: Capacity Update
ww HOEGH AUTOLINERS Capacity Update
Slide 13: Despite peak newbuild delivery year in 2025 the charter market is keeping tight with stabilised pricing
Despite peak newbuild delivery year in 2025 the charter market is keeping tight with stabilised pricing Highlights ▪ 15x newbuild 7,000–9,500 CEU vessels delivered in Q4; ▪ 75Timedelivered in 2025 Charter Rates (1Y)fgfggfgggg ▪ Orderbook end January of 137 vessels through 2030, equal to ~21.9% of th
Slide 14: Financial Update
HOEGH AUTOLINERS Financial Update
Slide 15: Solid performance also in 2025 despite delivery of newbuilds, US tariffs and growing network imbalance
Solid performance also in 2025 despite delivery of newbuilds, US tariffs and growing network imbalance Net rate and gross revenue Adjusted EBITDA USD/CBM and USD million USD million 85.1 77.8 80.3 62.5 736 696 621 448 1,446 1,371 1,426 1,270 2022 2023 2024 2025 2022 2023 2024 2025 Net rate Gross rev
Slide 16: Strong push from contract clients towards year-end reduces net rate in Q4
Strong push from contract clients towards year-end reduces net rate in Q4 as higher paying cargo is being displaced Volumes transported Net rate CBM million USD per CBM +11.7% -2.3% -9.0% -1.7% 3.9 4.0 3.9 86.7 80.4 81.6 80.3 79.0 3.5 3.5 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2024 Q4 2025 Q1 2025
Slide 17: Q4 EBITDA negatively impacted by fewer ships in operation and unfavorable change to cargo mix
Q4 EBITDA negatively impacted by fewer ships in operation and unfavorable change to cargo mix ▪ Lower volume transported in Q4 with two fewer vessels in operation and 4% reduction in operating days ▪ Significant demand from contract clients pushing out volume ahead of year end is reducing volume of
Slide 18: Reduced volume and activity offset by lower operating cost, however USD 5 million USTR impact
Reduced volume and activity offset by lower operating cost, however USD 5 million USTR impact ahead of one-year suspension Adjusted EBITDA Q-o-Q USD million 155 5 8 145 4 2 1 1 ▪ Available capacity in Q4 down with 5 two vessels following the sale of one USTR effect vessel and re-delivery of two long
Slide 19: Robust balance sheet with healthy ratios and solid liquidity
Robust balance sheet with healthy ratios and solid liquidity ▪ NIBD/EBITDA stable at 1x ▪ Equity ratio remains solid at 55% ▪ Healthy cash balance of USD 299 million accompanied by undrawn credit facility of USD 192 million Net interest-bearing debt Book value equity Cash balance USD million 694 USD
Slide 20: Another quarter with solid cash generation
Not presented in webcast Another quarter with solid cash generation Cash balance Q-o-Q USD million 492 ▪ Net Capex1 related to drydock, 192 newbuilding and others were 7 31 approximately USD 7 million for the 5 7 30 299 quarter. The final delivery payment 136 for H. Starlight was fully financed by 2
Slide 21: USD 99 million dividend to be paid in March
USD 99 million dividend to be paid in March Highlights Overview of dividend paid and declared L12M USD million 15 99 514 Consecutive quarterly dividends 30 137 1.63 158 USD billion total dividend1 Paid and declared 90 90 Mar-25 USD dividend/share May-25 Aug-25 Nov-25 Mar-26 Dividend L12M NOK dividen
Slide 22: Outlook
ww HOEGH AUTOLINERS Outlook
Slide 23: Outlook
Outlook ▪ Demand for ocean transportation and car carriers remains strong, supported by Q1 performance increasing demand from Asia ▪ No return to Red Sea transit planned for the near future ▪ Q1 2026 EBITDA is expected slightly above Q4 2025 23 Q4 2025 Presentation | Outlook
Slide 24: Thank you!
Thank you! www.hoeghautoliners.com