Höegh Evi
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Höegh Evi (EVI) investor relations material

Höegh Evi has been private

Höegh Evi Q3 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2024 earnings summary14 Nov, 2024

Executive summary

  • EBITDA reached USD 82.7 million in Q3 2024, with net profit after tax of USD 26.3 million, up USD 7.6 million from the previous quarter.

  • Total income was USD 126.4 million, a decrease from USD 130.2 million in Q2 2024, but EBITDA improved due to higher charter income and lower project costs.

  • Company rebranded from Höegh LNG to Höegh Evi in September 2024, reflecting a broader focus on energy transition infrastructure.

  • Fleet delivered stable operations with nearly 100% technical availability and only one LTI recorded in the annualized period.

Financial highlights

  • Q3 2024 total income: USD 126.4 million (down from USD 130.2 million in Q2 2024).

  • EBITDA: USD 82.7 million (up from USD 74.9 million in Q2 2024).

  • EBIT: USD 53.0 million (up from USD 44.7 million in Q2 2024).

  • Net profit after tax: USD 26.3 million (up from USD 18.7 million in Q2 2024).

  • Operating cash flow: USD 86.2 million (up from USD 51.6 million in Q2 2024).

Outlook and guidance

  • Global LNG production projected to rise 45% by 2029, but receiving capacity investments lag behind.

  • Optimistic outlook for FSRU demand due to expected growth in LNG production and infrastructure needs.

Timeline for first green ammonia cracker operation
How will Höegh Evi address FSRU market tightness?
Impact of new 7-year loan on debt maturity profile?
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