HÖEGH Autoliners closed its first semester with a 31% increase in revenues compared to the same period last year. Overall, the world’s fifth-largest new car transport operator totaled $585 million, nearly $140m more than the $446m in January-June 2021.
Adjusted earnings increased 124%, to $177 million. While adjusted EBITDA was $99 million, up $21M from $78M last year.
Cargo volumes were up by 7.3% , mainly due to an increase in Asian exports, particularly from China, which soared 74 % in May compared to April and 62% on the same month in 2021.
Freight rates rose by 8.4%.
Translation by Giles Foster