Höegh LNG: Interim results for the quarter and half year ended 30 June 2020
Hamilton, Bermuda, 20 August 2020 - Höegh LNG Holdings Ltd. ("Höegh LNG") today
reports its financial results for the quarter and half year ended 30 June 2020.
Highlights for the second quarter of 2020:
- EBITDA of USD 57.7 million
- Net profit USD 2.9 million
- Stable operations despite challenging circumstances caused by Covid-19
- Cost-savings progressing in accordance with plan
- Completed the amendment, extension and USD-45-million upsizing of Independence's debt facility
- HLNG 02 bond loan repaid in June
- Cash position improved to USD 151.9 million as a result of increased cash from operating activities, the net effect of new financing and a partial reversal of cash collateral posted for certain hedging instruments in Q1
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