Höegh Autoliners ("Höegh Autoliners" or the "Company", ticker code: HAUTO)
continued to report record financial performance for the second quarter of 2023.
The gross revenue was USD 356 million (up 1% Q-o-Q), operating profit (EBITDA)
was USD 181 million (up 6% Q-o-Q), and net profit after tax was USD 133 million
(up 13% Q-o-Q).

Highlights of the quarter 

	Slight volume increase in the second quarter while the net rate increased to a
new high level of USD 75.0 per CBM. Gross freight rate decreased by 1% compared
to Q1 2023 to USD 87.3 per CBM, mainly due to lower BAF.
	Record operating profit of USD 181 million as a result of strong net rate,
continuing cost efficiency, and lower bunker prices.
	Höegh Trapper, previously on bareboat charter from Ocean Yield, was purchased
and taken over in June.  
	Höegh Autoliners partnered with the green energy North Ammonia for the supply,
distribution, delivery, and consumption of green ammonia - a carbon-free fuel
produced using renewable energy. The Company joined the Mærsk Mc-Kinney Møller
Center for Zero Carbon Shipping as a Mission Ambassador, further committing to
our joint mission to decarbonize shipping.
	Dividend of USD 60 million paid in May 2023. The dividend for the second
quarter of USD 67 million (USD 0.3512 per share) is declared and will be paid in
August 2023. The dividend represents 50% of the net profit adjusted for
non-payable taxes.


Andreas Enger, CEO of Höegh Autoliners, comments: "I am proud to report another
very good quarter for Höegh Autoliners. Our strong result is coming from a
combination of good cargo support from our contract customers and good cargo
opportunities in the spot market. All our sailings are full in all trades and
despite delays and congestion in some ports we were able to operate our network
efficiently through the quarter. We continue to create shareholder returns and
have increased the quarterly dividend to USD 67 million (NOK 703 million)
representing 50% of net profit adjusted for extraordinary items. The process of
turning and repricing our contract portfolio is ongoing and this together with
the strong balance sheet and healthy cash generation is making us well
positioned for future growth and transformation towards the most
carbon-efficient PCTC company."

Outlook 

The demand situation remains strong. Growth in global car sales and export is
leading to increased demand for deep sea transportation by PCTCs at healthy
rates. We expect this situation to continue through the third quarter. The third
quarter has started off well with net rates for July at 77.7 per CBM, the second
highest on record. Financially we expect Q3 to be another strong quarter for
Höegh Autoliners. 

We are closely monitoring the global macro pictures and planning for scenarios
that could impact the demand for services.

Please find attached the Q2 2023 report. The results will also be presented by
CEO Andreas Enger and CFO Per Øivind Rosmo at 09:00 CET today. The presentation
will be held in English, and a recorded version of the webcast together with the
presentation will be made available on our website soon after the webcast ends.

Link to watch the webcast:
https://investors.hoeghautoliners.com/investors/reports-and-presentations/webcas
ts-and-videos/default.aspx 

For further information, please contact:
Andreas Enger, CEO 
andreas.enger@hoegh.com
+47 901 31 228 
 
Per Øivind Rosmo, CFO 
per.oivind.rosmo@hoegh.com 
+ 47 400 39 938

Investor Relations
ir@hoegh.com

Media contact:
Camilla Knappskog, Head of Communications
camilla.knappskog@hoegh.com
+47 926 66 156

About Höegh Autoliners:

Höegh Autoliners is a leading global provider of RoRo (Roll On Roll Off)
transportation services delivering cars, high and heavy and breakbulk cargoes
across the world. The Company operates around 40 RoRo vessels in global trade
systems and makes about 3 000 port calls each year. Our purpose is to develop
innovative solutions for greener and more sustainable deep sea transportation.
We are on a path to a zero emissions future and are working closely with
customers and partners to achieve this. Höegh Autoliners has its head office in
Oslo, Norway and employs around 390 people in its 16 offices worldwide and
around 1 170 seafarers.

This statement contains certain forward-looking statements concerning future
events. Forward-looking statements are statements that are not historical facts
and may be identified by words such as "anticipate", "believe", "continue",
"estimate", "expect", "intends", "may", "should", "will" and similar
expressions. The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although the Company believes that these assumptions were reasonable when made,
these assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies, and other important factors which are difficult or
impossible to predict and are beyond its control. Actual events may differ
significantly from any anticipated development due to a number of factors,
including without limitation, changes in investment levels and need for the
Company's services, changes in the general economic, political and market
conditions in the markets in which the Company operates, the Company's ability
to attract, retain and motivate qualified personnel, changes in the Company's
ability to engage in commercially acceptable acquisitions and strategic
investments, and changes in laws and regulation and the potential impact of
legal proceedings and actions. Such risks, uncertainties, contingencies and
other important factors include, but are not limited to, the possibility that we
will determine not to, or be unable to, issue any equity securities, and could
cause actual events to differ materially from the expectations expressed or
implied in this release by such forward-looking statements.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.