“Solid” Q1 for Höegh Autoliners

OSLO-headquartered Höegh Autoliners has racked up stable underlying performance in Q1 2026, despite Middle East disruption, fuel price escalation and operational challenges.

The company reported solid financial performance in the first quarter, with gross revenue of USD 360 million/NOK 3,501 million, operating profit (EBITDA) of USD 145 million/NOK 1,407 million, and net profit after tax of USD 103 million/NOK 998 million.

While analysts have noted a rise in revenues but decline in profits, along with warnings about the impact of bunker prices on 2Q results, to suggest darker times lie ahead the bourse responded to results from Höegh and rival Wallenius Wilhelmsen by driving up the share price of both.

Höegh Autoliners listed highlights of the quarter:

• The Middle East conflict disrupted operations in March, resulting in vessel delays and re positioning, with higher fuel costs expected to impact Q2 before BAF recovery.
• Despite this backdrop, a strong quarter with EBITDA of USD 145 million and net profit after tax of USD 103 million.
• China, the world’s largest vehicle export country, increased exports 57% y-o-y in Q1.
• Q4 2025 dividend of USD 99 million paid in March 2026.
• The eighth Aurora Class vessel, Höegh Rainbow, was delivered from the yard in January 2026.
• A dividend for Q1 2026 of USD 94 million (USD 0.4927 per share) declared and will be paid in May 2026.

CEO of Höegh Autoliners Andreas Enger said, “We delivered stable underlying performance in Q1 despite a challenging geopolitical backdrop. Developments in the Middle East continue to disrupt shipping routes and fuel markets, increasing costs and operational complexity.

“Our focus remains on safe and reliable operations, supporting our customers and managing risks. With improved operational control into Q2, we believe we are well positioned to navigate ongoing uncertainty and continue to deliver value through disciplined execution, resilient network economics and a strong financial position, as evidenced by the declared dividend.”

Demand for ocean transportation remains firm, supported by steady demand from Asia and China, but with increasing geopolitical complexities, the company said in providing its outlook.

During Q2, the short-term timing impact from higher fuel prices is expected around USD 20m. The disruption impact of Middle East Service volumes is expected around USD 10m. Q2 2026 EBITDA adjusted for above effects is expected in line to slightly below Q1 2026.