HOEGF - Höegh Autoliners ASA (HOEGF) Q1 2024 Earnings Call Transcript

2024-04-24 12:27:01 ET

Höegh Autoliners ASA (HOEGF)

Q1 2024 Earnings Conference Call

April 24, 2024 02:30 AM ET

Company Participants

My Linh Vu - Head of Investor Relations

Andreas Enger - Chief Executive Officer

Per Øivind Rosmo - Chief Financial Officer

Conference Call Participants

Presentation

My Linh Vu

Good morning, and welcome to Höegh Autoliners' First Quarter Presentation. My name is My Linh Vu, Head of Investor Relations. And with me today, we have our CEO, Andreas Enger; and our CFO, Per Øivind Rosmo, who will present to you the first quarter business and financial update. Online audience can send questions to our Investor Relations mailbox at ir@hoegh.com and we will answer the question during the Q&A session at the end.

So with that, I will hand over this back to you Andreas.

Andreas Enger

Thank you, My Linh and welcome to today's presentation of our first quarter 2024. I'm pleased to be able to present another strong financial quarter in a situation where the shipping industry has experienced one of the potentially biggest operational crisis that sort of can happen to the industry, which is sort of closure of the Suez Canal effectively through the situation because of the situation in the Red Sea. That has created a need for a comprehensive sort of reshuffle and change in our trade structure, despite and it has also resulted in a substantial loss of volumes. Despite that we've been able to deliver another very strong quarter.

Before we go into the financials and the quarter, I just want to recap what is the essence of our strategy. We have had three focus areas over the last couple of years, where one is to build resilience through the cycle. The other is to execute a comprehensive green fleet renewal and the third is to provide attractive returns to shareholders. And in that sense, this quarter actually represents an important milestone in the sense that we've done the refinancing that is in many ways the last building block of creating resilience with debt maturities pushed beyond 2030 and a very, very robust capital structure....

For further details see: