Höegh Autoliners Reports Strong Q1 Despite Global Challenges

Höegh Autoliners ASA reported strong financial results for the first quarter of 2025, with substantial revenue gains and strategic expansions amid increasing global uncertainty.

The Norwegian roll-on/roll-off vessel operator posted gross revenue reaching USD 329 million (NOK 3,559 million) and both operating profit (EBITDA) and net profit after tax standing at USD 155 million.

The company secured two major long-term contracts with international car producers, each worth over $100 million, increasing its contract share by 7% from Q4 2024.

“Höegh Autoliners continued to deliver solid financial results amid ongoing global uncertainties and heightened geopolitical tensions,” commented Andreas Enger, CEO of Höegh Autoliners. emphasized the company’s resilience in the face of current market conditions. He highlighted that the company’s total contract share now exceeds 80%, reflecting their commitment to strengthening relationships with key customers.

The company also completed several strategic fleet management initiatives, including exercising the option to purchase the leased vessel Höegh Copenhagen and the delivery of Höegh New York to its new owner. Additionally, all four of the company’s first four newbuild “Aurora-class” vessels are now fully operational, significantly enhancing cargo lifting capacity.

Described as the “crown jewel” of the fleet, the Aurora-class vessels are designed to carry 9,100 cars including Electric Vehicles across all 14 decks. They feature solar panels that reduce generator power consumption by up to 35% and enable emissions-free port operations through shore power.

Höegh Autoliners has ordered 12 Aurora vessels with an option for four more, all under Norwegian flag and DNV class. Eight vessels will initially run on LNG and low-sulfur oil, with ammonia conversion capability. The first entered service in August 2024. The final four vessels, delivering by 2027, will be ammonia-ready from launch.

Höegh Autoliners declared a Q1 2025 dividend of USD 158 million (USD 0.8282 per share), scheduled for distribution in May. This follows the Q4 2024 dividend of USD 90 million, which was paid in March 2025.

Looking ahead, the company flagged significant challenges in the maritime sector. The implementation of new U.S. tariffs and port fees could potentially impact transportation volumes and increase operational costs for vessels calling at U.S. ports. Furthermore, the ongoing Red Sea situation remains a concern, with the company noting that a return to trading through this route is not expected in the near future.

Despite these challenges, Höegh Autoliners projects Q2 EBITDA to remain consistent with Q1 2025 levels.

Höegh Autoliners operates a fleet of approximately 40 ro-ro ships, conducting over 2,000 port calls annually. The company maintains its headquarters in Oslo, Norway, employing around 460 office staff across 16 global locations and approximately 1,200 seafarers.

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