Höegh LNG ended the 2nd quarter with net loss

Höegh LNG company ended the second quarter of 2019 with in the red amid seasonal variations and dry docking costs.

The company recorded a net loss of USD 3.6 million for the quarter, down from a profit of USD 4.5 million reported in the first three months of 2019. This decrease is the result of lower EBITDA, partly offset by reduced interest expenses.

EBITDA for the period was at USD 45.7 million, compared to USD 55.9 million seen in the preceding quarter, mainly due to the lower income and higher Opex.

“Höegh LNG’s results for Q2 2019 are negatively affected by seasonal variations and dry docking costs. Adjusted for these effects our underlying numbers are in line with previous quarters,” Sveinung J.S. Støhle, President and CEO of Höegh LNG, said.

Tags:

Read also

Comments