Hoegh Autoliner Asa (HOEGF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Hög Autoliner's first quarter presentation. My name is Malin Vu, Head of Investor Relations. And with me today, we have CEO Andreas Enge and our CFO Espen Stubbrud. As usual, we will walk through the business and financial performance of the last quarter and we will answer your question at the Q&A session in the end. So with that, I will hand over the stage to you, Andreas. Thank you, Malin. Yes, welcome to our first quarter 2025 presentation. We are pleased to announce and present another good quarter in a somewhat turbulent world, starting off with this very nice picture of Hög Sunlight, our new build number four during its naming ceremony in Shanghai earlier this year. The quarter in figures, we have an EBITDA of 155 million in line with plans where we have previously reported that we took on significant additional contract volumes to create a more robust and stable backlog at slightly lower rates, now down at roughly $95 per cubic meter gross. We have a net profit also of 155 million, positively influenced by gain on sale of an older vessel. We are in line with our dividend policy, declaring 158 million US dollars of dividends for the quarter. We have declared an option on our last bare boat leasing vessel, Hög Copenhagen, which is a strategic long-term vessel in our fleet that has been on a bare boat lease and we've executed an attractive purchase option on that vessel. And we have retained a strong equity ratio of 59%. So in our view, a strong result, totally in line with strategy and reflecting the robustness of our business model and our customer backlog. Going into the main topic, starting with a bit on the market and commercial side. We have had strong volume developments out of Asia. slightly lower volumes in what we would call ...