Höegh Autoliners continued to report solid financial performance in the third quarter of 2025. The gross revenue was USD 370 million/NOK 3,941 million, operating profit (EBITDA) was USD 155 million/NOK 1,650 million, and net profit after tax was USD 131 million/NOK 1,395 million.
Highlights of the quarter
- Volume up ~3% from Q2 with particularly strong demand out of Asia
- Contract share stable ~80%, up from 73% in 2024
- Q2 2025 dividend of USD 137 million paid in September
- Höegh Beijing sold and delivered to new Owner in September
- A dividend for Q3 2025 of USD 30 million (USD 0.1573 per share) declared and will be paid in November
Andreas Enger, CEO of Höegh Autoliners, comments: “Q3 is another strong quarter, however, our operating costs have been adversely impacted by weakening trade balance, a trend that is likely to persist.”
Outlook
Tariffs may over time result in lower volumes transported. Significant changes to new U.S. port fees were announced 10 October with implementation from 14 October. The yearly impact is estimated to ~USD 60-70 million, the Company is working diligently to mitigate the impact.
Q4 operational performance is projected slightly below the Q3 EBITDA. In addition, USTR impact is expected to be ~USD 20 million for the quarter.
Höegh Autoliners has adjusted the calculation method for its dividend distributions to reflect actual cash generated above a targeted minimum cash balance at the end of each preceding quarter. The underlying dividend policy remains unchanged, with the intent to distribute all excess cash generation.
This adjustment reflects the need to navigate a rapidly changing market environment with reduced visibility and supports strengthened liquidity management. As a result, there will be a one-off periodization of payouts, reducing the distribution for Q3 2025. As of the reporting date, the Company has no other intended uses for capital allocation beyond shareholder distributions.