HOEGF - Hoegh Autoliners: 2023 Was The Best Year Ever 2024 Could Be More Difficult
2024-01-29 10:30:00 ET
Summary
- Hoegh Autoliners has experienced strong financial performance, with increased revenue and strong EBITDA.
- The company's cash flow is robust, with high operating cash flow and positive free cash flow.
- Hoegh Autoliners' fleet is set to expand, but potential future capacity additions may impact charter rates and financial performance.
Introduction
Just over a year ago, I started following Höegh Autoliners ASA ( HOEGF ) as it looked like the car shipping industry was gearing up for a perfect storm . The demand for capacity increased while very few vessels were available (and not a whole lot of new vessels were expected to be delivered either). The total return on Höegh Autoliners increased to approximately 72% in the past 13 months and an even more impressive 98% since my follow-up article in March last year. Other than Hoegh Autoliners, I kept tabs on Gram Car Carriers ASA ( GCCRF ), another Oslo-listed car carrier stock ....
Hoegh Autoliners: 2023 Was The Best Year Ever, 2024 Could Be More Difficult