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"f0__s7__6__14": {
"value": "CORPORATE INFORMATIONH\u00f6egh Autoliners ASA (the \u201cCompany\u201d) is a public limited liability company domiciled in Norway. The Company is listed on the Oslo Stock Exchange. The address of the Company\u2019s registered office is Drammensveien 134, N-0277 Oslo, Norway. The consolidated financial statements of the Company for the year ended 31 December 2025 comprise the Company and its subsidiaries (together referred to as the \u201cGroup\u201d and individually as \u201cGroup entities\u201d) and can be obtained at this address. The Group is a fully integrated RoRo entity. It is one of the world\u2019s largest operators in the transportation of vehicles and high/heavy rolling cargo and operates a fleet of about 40 vessels in global trading systems from a worldwide network of offices.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__9": {
"value": "H\u00f6egh Autoliners ASA",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__8": {
"value": "H\u00f6egh Autoliners ASA",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__7": {
"value": "H\u00f6egh Autoliners ASA",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__12": {
"value": "public limited liability company",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__11": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__10": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__15": {
"value": "Oslo",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__13": {
"value": "Drammensveien 134, N-0277 Oslo, Norway",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__5": {
"value": "The Group is a fully integrated RoRo entity. It is one of the world\u2019s largest operators in the transportation of vehicles and high/heavy rolling cargo and operates a fleet of about 40 vessels in global trading systems from a worldwide network of offices.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__16": {
"value": "STATEMENT OF COMPLIANCEThe consolidated financial statements have been prepared in accord-ance with IFRS\u00ae Accounting Standards as adopted by the European Union (EU) (\u201cIFRS\u201d). H\u00f6egh Autoliners also provides additional disclo-sures in accordance with requirements in the Norwegian Accounting Act.The consolidated financial statements were authorised for issue by the Board of Directors on 15 April 2026.",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__17": {
"value": "The consolidated financial statements were authorised for issue by the Board of Directors on 15 April 2026.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__18": {
"value": "BASIS OF CONSOLIDATIONThe consolidated financial statements include H\u00f6egh Autoliners ASA and its subsidiaries. Subsidiaries are all companies where the Group has a controlling interest. A controlling interest is where the Group has the power to govern the financial and operating policies. This is usually achieved when the Group owns, either directly or indirectly, more than 50% of the shares in the company, or through agreements, are able to exercise control over the company. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are de-consolidated from the date on which control ceases. Subsidiaries\u2019 accounting policies have been changed where necessary to ensure consistency with the policies adopted by the Group.Intercompany transactions, balances and unrealised gains on trans-actions between group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__19": {
"value": "FUNCTIONAL AND PRESENTATION CURRENCYThe Group\u2019s presentation currency is USD. This is also the functional currency of the parent company and all significant companies in the Group. All financial information presented in USD has been rounded to the nearest thousands, except when otherwise indicated.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__20": {
"value": "TRANSACTIONS AND BALANCESAll transactions in currencies other than USD are included in the accounts at the exchange rate on the date of the transaction. Monetary assets and liabilities in currencies other than USD are trans-lated to USD according to the currency rates at the balance sheet date. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income. Non-monetary items included at historical cost denominated in currencies other than USD are translated at the exchange rate at the time of the original transaction.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__21": {
"value": "SEGMENT REPORTINGThe Group has two operating segments, Shipping services and Logis-tics services. The Logistics segment represents around 0.5% of the Group\u2019s total revenue, profit or loss and assets. The Group has decided that the segment is not material to the Group for the periods ended 31 December 2025 and 31 December 2024, and has reported information as one combined segment.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__22-1": {
"value": "MATERIAL ACCOUNTING POLICIESAccounting policies according to the list below are included in the relevant notes to the Consolidated Financial Statements:Revenue recognition Note 2Employee benefits Note 5Vessels, newbuildings and equipment Note 7Leases Note 8Taxes Note 11Financial instruments Note 15Share information and earnings per share Note 16Provisions Note 20Contingent liabilities Note 22Investments in associates Note 24ACCOUNTING POLICIESH\u00f6egh Autoliners provides RoRo transportation on deep sea and short sea markets as well as terminal related services. The Group also hires out some of its vessels on a time charter (TC) basis when necessary. The Group has the following major revenue streams- Voyage revenue- Terminal related revenueRevenues from shipping activities are recognised when the control of goods or services agreed in the contract has been transferred to the customer (satisfaction of performance obligation). Revenues are measured at the fair value of the consideration to which the Group expects to be entitled in a contract with a customer and excludes amounts collected by third parties.A contract is defined as an agreement between two or more parties that creates enforceable rights and obligations. For the Group, a contract with a customer is defined as the Bill of Lading document. Most of the services the Group provides are invoiced upon the issuance of the Bill of Lading.Each customer contract could initiate recognition of contract assets and liabilities. Historically, the Group has applied terms as deferred (accrued) income and prepayments to capture the information included in the term contract liabilities. The same is the case with other receivables to capture the information included in the term contract assets. Disclosures with regards to contract balances are presented below. The main contract liability for the Group is deferred (accrued) income where the Group has yet to perform the freight service for future periods (remaining voyage) but has received payment (or the payment is due) from the customers in excess of revenue recognised.Voyage revenues (Freight revenues)All voyage revenue is recognised in accordance with IFRS 15 by estimating the total income for a vessel on a voyage. All estimates are based on regular updates based on the progress of each voyage and the revenue is recognized over time on the basis of progress on fulfillment, as the customer is receiving and consuming the benefits of the transport services as the Group performs. The measure of progress is the number of days incurred compared to estimated total days for the applicable voyage. The voyage revenues measured at year-end give a faithful depiction of the transfer of services.Terminal related revenuesThe performance obligation for terminal related services is satisfied at the point in time when the service delivery is complete, and revenue is recognised at this time.Accounting policiesPensionsThe Group provides defined contribution plans, defined benefit plans and other post-employment benefits. The contribution plans comprise plans whereby the Group makes annual contributions to the employees\u2019 pension plan, which is the expense for the period. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold enough assets to pay all employees the benefits relating to employee service in the current and prior period. Contributions to the plan are expensed as pension costs. Norwegian employers are obliged to have an occupational pension scheme for their employees under the Act on Mandatory occupational pension. The Group is incompliance with these regulations. Defined benefit plans define an amount of pension benefit that an employee will receive on retirement, dependent on a set of assumptions. The Group has no significant benefit plans or other post-employment benefits.Share bonus programThe Group has a long-term incentive plan which is a share bonus program for key personnel. Under the program key personnel are granted award shares that will be converted to shares based on certain conditions being fulfilled. The costs related to the program will be expensed over the vesting period of 36 months and recog-nised as salary expense with a corresponding entry to equity. For more information about the share bonus program, see Note 6ACCOUNTING POLICIES Vessels, newbuildings and equipmentFixed assets are recorded at cost less accumulated depreciation and impairments. For newbuilding contracts, the cost price includes all the costs incurred in the development and construction process, including borrowing costs, construction supervision costs and technical costs. For vessels that have been purchased in the second-hand market, the cost price includes expenses directly related to the acquisition. When assets are sold or disposed of, the gross carrying amount and accumulated depreciation are reversed, and any gain or loss on the sale or disposal is included in the statement of comprehensive income.Vessels The depreciation is calculated on a straight-line basis and adjusted for impairment if applicable. The RoRo vessels have an expected useful life of 30 years. Vessels are depreciated to estimated scrap value. Expected economic life and estimated scrap values of the vessels are reviewed and evaluated at each balance sheet date. If new evaluations materially differ from earlier estimates the depreciation is changed accordingly.Ordinary repairs and maintenance costs are expensed as incurred. Docking cost/classification costs are capitalised and amortised over the period until the next anticipated docking/inspection. Costs that do not meet the capitalisation criteria are expensed as repairs and maintenance costs.Newbuildings Instalments on newbuilding contracts are capitalised as \u201cNewbuild-ings\u201d when they are paid. Upon delivery, newbuildings are reclassi-fied to vessels and are subject to depreciation.The acquisition cost includes direct investments, cost incurred during the construction period and borrowing cost. Borrowing costs are capitalised during the construction period.Assets held for saleAssets are held for sale when their carrying amount is to be recov-ered principally through a sale transaction and a sale is considered highly probable. They are stated at the lower of carrying amount and their fair value less cost of sale. Property, plant and equipment and intangible assets are not depreciated or amortised once classified as held for sale.EquipmentDepreciation is calculated on a straight-line basis with the following estimated useful life:- Vessel equipment 10 years- Office equipment 3-5 years- Vehicles 5 years- IT-system 10-15 yearsImpairment of non-financial assetsThe carrying amount of tangible assets is tested for impairment whenever there are indications that the value of these assets may have been impaired. If the carrying amount of an asset is higher than the recoverable amount, an impairment loss will be recog-nised in the statement of comprehensive income. The recoverable amount of an asset or a cash-generating unit is the higher of its fair value less cost to sell and its value-in-use. The recoverable amount is determined separately for all assets, but if not possible, this will be determined together with the cash-generating unit to which the asset belongs. All vessels participating in the Group\u2019s RoRo operations are considered part of a single cash-generating unit as this is the smallest strategically identifiable group of assets.Impairment losses recognised in prior periods are reversed when indications of impairment no longer exist or have decreased. A loss is only reversed to the extent that the asset\u2019s carrying amount does not exceed the carrying value recognised if no impairment charges had been recognised in prior periods and normal depreciation and amortisation policies had been appliedAccounting policiesLeasesA lease is defined as a contract that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. For all leases where the Group is a lessee, a right-of-use asset and lease liability is recognised in the balance sheet at the date at which the leased asset is available for use by the Group. The lease liability is measured as the present value of future lease payments, including extension options considered reasonably certain to be exercised. When deciding on whether the Group is reasonably certain to exercise options, all facts and circumstances are taken into consideration. Extension and termination options are included in a number of vessels, property and equipment leases across the Group. These are used to maximise operational flexibility in terms of managing the assets used in the Group\u2019s operations. The majority of the options are held only by the Group and not by the lessor. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is generally the case for all leases in the Group, the Group\u2019s incremental borrowing rate is used. A corresponding right-of-use asset is recognised including lease payments and any direct costs incurred at the commencement date. Lease payments are reflected as interest expense and a reduction in lease liabilities. The right-of-use assets are depreciated over the shorter of each contract\u2019s term and the assets\u2019 useful life.Only short-term leases (lease term of 12 months or less and do not include a purchase option) and leases of low value assets are exempted from recognition. Low value assets comprise smaller IT and office equipment. Lease payments on short-term leases and leases of low value assets are recognised as expense on a straight-line basis over the lease term.Contracts may contain both lease and non-lease components. However, for non-lease components that are not specified in the lease contract, the Group has elected not to separate lease and non-lease components and instead accounts for these as a single lease component. This applies for time charter leases where the lease payment includes running expenses which are not specified. All other non-lease components are accounted for separately.A sub-lease agreement is evaluated with reference to the right-of-use asset in the head lease.Right-of-use assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.Accounting policies Income tax The current tax charge is calculated on the basis of the tax laws enacted at the balance sheet date in the countries where the Group operates and generates taxable income. Taxes payable with long-term maturity are recognised at present value. The tax expense consists of taxes payable and changes in deferred tax. Tax assets and liabilities for the current and prior periods are calcu-lated to the amount expected to be reimbursed from or paid to the tax authorities. Tax rates and tax laws used to compute the amount are those that are approved at the balance sheet date. Deferred tax is calculated on temporary differences between tax and accounting values of assets and liabilities that exist at the balance sheet date. Deferred taxes are recognised using the liability method in accordance with IAS 12. Deferred tax assets are recognised for all deductible temporary differences, unused tax credits carried forward and unused tax losses carried forward to the extent it is probable that future taxable profits may be used against deductible temporary differences and unused tax losses carried forward. Deferred tax assets and deferred tax liabilities are offset, if the entity has a legal enforceable right to offset against the carrying amounts, and the deferred tax is related to the same taxable unit and the same tax jurisdiction. Current tonnage tax scheme H\u00f6egh Autoliners Shipping AS, H\u00f6egh Autoliners Shipping II AS, H\u00f6egh Autoliners Shipping 269-3 AS, H\u00f6egh Autoliners Shipping 269-4 AS, H\u00f6egh Autoliners 269-7 AS, H\u00f6egh Autoliners Shipping 269-8 AS, H\u00f6egh Autoliners Shipping 269-9 AS, H\u00f6egh Autoliners Shipping 269-10 AS, H\u00f6egh Autoliners Shipping 269-11 AS and H\u00f6egh Autoliners Shipping 269-12 AS, are all subject to the Norwegian tonnage tax scheme. The scheme is approved by the ESA (EFTA Surveillance Authority). According to the system, net operating revenue derived from the shipping industry will not be taxed and can be distributed without taxation. Instead of paying tax on income derived from the shipping operations, companies within this system have to pay a tonnage fee based on the size of the vessels. The fee is recognised as an operating expense. H\u00f6egh Autoliners Shipping Pte Ltd is taxed under a tonnage tax scheme in Singapore where shipping-related earnings are tax-free.Financial income is taxed according to the ordinary Norwegian tax scheme; however, it is only a portion of interest expenses and net currency gain/ loss that gives the right to tax deductions. Dividends and capital gains are taxed according to the Norwegian exemption model. Pillar Two rules The Group is in the scope of the OECD Pillar Two model rules. The Group applies the mandatory relief from recognizing deferred tax related to Pillar Two income taxes. Ordinary taxationAll the Norwegian companies within the Group, with the exception of the shipowning entities, are subject to 22 % Norwegian company tax. From 1 January 2026 the corporate tax rate remains at 22%Tonnage tax payableTonnage tax is assessed and paid according to net tonnage operated during the year. Current year\u2019s tonnage tax is assessed at USD 0.5 million (USD 0.4 million in 2024) and is classified under other operating expenses.Accounting policies Financial assets Financial assets are initially recognised at fair value when the Group becomes a party to the contractual provisions of the asset, unless the fair value differs from the transaction value.The subsequent measurement of the financial assets depends on what category they are classified into at inception. The Group classifies its financial assets into the following main categories for subse-quent measurement; Debt instrument at amortised cost, debt instruments at fair value through other comprehensive income (with cumulative gains and losses reclassified to profit or loss upon derecognition) and equity instruments designated measured at fair value through other comprehensive income (with gains and losses remaining in other comprehensive income). The fair value of investments that are actively traded in organised financial markets is determined by reference to quoted market bid prices at the close of business on the balance sheet date. For investments where there is no active market, fair value is deter-mined applying commonly used valuation techniques. As of31 December 2025, the Group holds financial instruments classified in level three in the valuation hierarchy. Amortised costThis category includes assets that are held in order to collect contractual cash flows, and where the contractual terms give right to cash flows that are solely related to principal and interests on the principal amount outstanding. This includes mainly loans to associate companies and trade receivables. Loans and trade receivables are non-derivative financial assets with fixed or agreed payments that are not traded in an active market. Such assets are measured at amortised cost using the effective interest method. Gains and losses are recognised in the consolidated statement of comprehensive income when the loans and receivables are derecognised or impaired, as well as through the amortisation process. Trade and other receivables are carried at the original invoice amount, less an allowance made for doubtful receivables. Impairment is performed when there is objective evidence that the Group will be unable to recover balances in full. Financial assets at fair value through other comprehensive income Investments in shares not held for trade purposes, are classified as investments in fair value through other comprehensive income. Dividends from these companies are recognised through profit or loss unless they clearly represent a recovery of part of the invest-ment, in which case they are recognised in other comprehensive income. Financial assets at fair value through profit or loss This category includes financial assets that are held for trading and financial assets that on initial recognition are designated as fair value through profit or loss. Derivatives are also categorised as held for trading unless they are designated as effective hedging instruments as defined by IFRS 9. The Group uses derivative financial instruments such as interest rate swaps to manage its risks associated with interest rates. Derivatives are carried as assets when the fair value is positive and as liabilities when the fair value is negative. Changes in the fair value are recognised in the statement of comprehensive income as other financial items. The fair value of bunker caps is determined using the market value at the balance sheet date. The Group has not designated any derivatives as hedging instruments under IFRS 9. Financial liabilitiesFinancial liabilities are after initial recognition measured at amor-tised cost using the effective interest method, except for financial liabilities recognised through profit or loss, including derivatives. Financial liabilities at fair value through profit or loss is calculated by discounting future cash flows. Interest bearing bank loans and other debt classified as financial liabilities are initially recognised at fair value when the Group becomes party to the contractual provisions of the instrument. After initial recognition, interest bearing loans and borrowings are subsequently measured at amortised cost using the effec-tive interest method. Amortised cost is calculated by taking into account any issue costs, and any discount or premium on settlement. A substantial modification of the terms of an existing financial liability is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. In the case of recognising a new liability, the fees are treated as part of the amortised cost.Financial liabilities are presented as current if the liabilities are due to be settled within 12 months after the balance sheet date, whereas liabilities with the legal right to be settled more than 12 months after the balance sheet date are classified as non-current liabilities. Impairment of financial assetsThe Group assesses at each balance sheet date whether a finan-cial asset or group of financial assets may be impaired. Financial assets are impaired when there is objective evidence that the Group is not likely to recover all the amounts in connection with contractual terms related to loans and receivables.The amount of expected credit losses recognised as a loss allowance depends on the extent of credit deterioration since initial recognition: \u00b7 12-month expected credit losses, which applies to all items (from initial recognition) as long as there is no significant deterioration in credit quality, or \u00b7 Full lifetime expected credit losses, which applies when a significant increase in credit risk has occurred on an individual or collective basisImpairment reversals are recorded when the amount of impairment losses in future periods is reduced, and the reduction can be linked objectively to an event that occurs after the impairment was recognised. A reversal will only be recorded to the extent that the carrying value does not exceed what the amortised cost would have been if the impairment had not been made. Impairment reversals are presented as income or as a reduction of expenses. Derecognition of financial instruments A financial asset is derecognised when: \u00b7 The rights to receive cash flows from the asset have expired \u00b7 The Group retains the right to receive cash flows from the asset, but has assumed an obligation to pay them in full without material delay to a third party under a \u2018pass-through\u2019 arrangement; or \u00b7 The Group has transferred its rights to receive cash flows from the asset and either (a) has transferred substantially all the risks and rewards of the asset, or (b) has neither transferred nor retained substantially all the risks and rewards of the asset but has transferred control of the asset. Financial liabilities are derecognised from the balance sheet when the contractual obligation expires, is discharged or cancelled. Gains and losses arising on the repurchase, settlement or cancel-lation of liabilities are recognised respectively in interest income and other financial items and interest and other finance expenses. Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts is recognised in profit or loss. The terms are substantially different if the discounted present value of the cash flows under the new terms, including any fees paid net of any fees received and discounted using the original effective interest rate, is at least 10% different from the discounted present value of the remaining cash flows of the original financial liability. Cash and cash equivalents Cash includes cash in hand and bank deposits, including restricted bank accounts for deposits in respect of employee taxes. For further disclosures, see Note 14.Accounting policyTransaction costs related to equity transactions are recognised directly in equity after the deduction of tax.Basic earnings per share is calculated by dividing net profit or loss attributable to equity holders of the Company after non-controlling interest, by the weighted average number of total outstanding shares (adjusted for average number of own shares) during the financial year. Diluted earnings per share is calculated by dividing the net profit or loss attributable to equity holders of the Company after non-controlling interest, by the weighted average number of total outstanding shares (adjusted for average number of own shares) during the financial year, after adjusting for all dilutive potential shares. The potential shares arising from the Company\u2019s equity-settled, share-based compensation plan are included in the calculation of diluted earnings per share. See Note 6 for more information on the share-based compensation plan.Accounting policy Provisions are recognised when the Group has a legal or constructive obligation as a result of past events. The recognition of the provision is that it is likely (more likely than not) that a future event will lead to a financial settlement as a result of this commitment, and that the size of the amount can be measured reliably. Provisions are evaluated at each balance sheet date and reflects the best estimate of the obligation. When the effect of time is significant, the provision will be the present value of future payments to cover the obligation.Accounting policiesContingent liabilities comprise:\u00b7 A possible obligation arising as a result of past events where the obligation depends on some uncertain future event\u00b7 A present obligation that is not recognised in the accounts since it is not probable that the obligation will result in a payment being made\u00b7 Liabilities that cannot be measured reliablyContingent liabilities are not recognised in the accounts except for contingent liabilities acquired as part of the purchase of a business. Contingent liabilities acquired as part of the purchase of a business are recognised in the accounts at fair value even if the liability is not likely to materialise. Contingent liabilities are not recognised in the financial statement, but if material, disclosed in the accompanying notes.A contingent asset is defined as a possible asset, that arises from past events, and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events, not wholly within the control of the entity. Contingent assets are not included in the annual accounts, but information is provided if there is a reasonable certainty that the benefit in question will accrue to the Group.Accounting policiesAssociated companies are all entities in which the Group has significant influence but not control, generally companies owned between 20% and 50%. Interests in associated companies are reported according to the equity method. The consolidated accounts include the Group\u2019s share of profit from associated companies accounted for according to the equity method from the date significant influence is achieved and until such influence ceases. The Group\u2019s share of its associates\u2019 profits and losses is presented net as a separate line, as part of operations in the statement of comprehensive income and is added to the capi-talised value of the investments together with its share of equity movement not recognised in the statement of comprehensive income. When the Group\u2019s share of the loss exceeds the invest-ment in an associated company, the Group reduces the carrying value to zero and further losses are not recorded unless the Group has an obligation or an intention to cover this loss.",
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"value": "Basis of preparation CORPORATE INFORMATIONH\u00f6egh Autoliners ASA (the \u201cCompany\u201d) is a public limited liability company domiciled in Norway. The Company is listed on the Oslo Stock Exchange. The address of the Company\u2019s registered office is Drammensveien 134, N-0277 Oslo, Norway. The consolidated financial statements of the Company for the year ended 31 December 2025 comprise the Company and its subsidiaries (together referred to as the \u201cGroup\u201d and individually as \u201cGroup entities\u201d) and can be obtained at this address. The Group is a fully integrated RoRo entity. It is one of the world\u2019s largest operators in the transportation of vehicles and high/heavy rolling cargo and operates a fleet of about 40 vessels in global trading systems from a worldwide network of offices.STATEMENT OF COMPLIANCEThe consolidated financial statements have been prepared in accord-ance with IFRS\u00ae Accounting Standards as adopted by the European Union (EU) (\u201cIFRS\u201d). H\u00f6egh Autoliners also provides additional disclo-sures in accordance with requirements in the Norwegian Accounting Act.The consolidated financial statements were authorised for issue by the Board of Directors on 15 April 2026.BASIS OF CONSOLIDATIONThe consolidated financial statements include H\u00f6egh Autoliners ASA and its subsidiaries. Subsidiaries are all companies where the Group has a controlling interest. A controlling interest is where the Group has the power to govern the financial and operating policies. This is usually achieved when the Group owns, either directly or indirectly, more than 50% of the shares in the company, or through agreements, are able to exercise control over the company. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are de-consolidated from the date on which control ceases. Subsidiaries\u2019 accounting policies have been changed where necessary to ensure consistency with the policies adopted by the Group.Intercompany transactions, balances and unrealised gains on trans-actions between group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.FUNCTIONAL AND PRESENTATION CURRENCYThe Group\u2019s presentation currency is USD. This is also the functional currency of the parent company and all significant companies in the Group. All financial information presented in USD has been rounded to the nearest thousands, except when otherwise indicated.TRANSACTIONS AND BALANCESAll transactions in currencies other than USD are included in the accounts at the exchange rate on the date of the transaction. Monetary assets and liabilities in currencies other than USD are trans-lated to USD according to the currency rates at the balance sheet date. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income. Non-monetary items included at historical cost denominated in currencies other than USD are translated at the exchange rate at the time of the original transaction.SEGMENT REPORTINGThe Group has two operating segments, Shipping services and Logis-tics services. The Logistics segment represents around 0.5% of the Group\u2019s total revenue, profit or loss and assets. The Group has decided that the segment is not material to the Group for the periods ended 31 December 2025 and 31 December 2024, and has reported information as one combined segment.CLASSIFICATION OF ITEMS IN THE BALANCE SHEETCurrent assets and liabilities include items that fall due within one year after the balance sheet date, such as cash or cash equivalents, and items expected to be sold or consumed in the normal operating cycle. The short-term portion of long-term debt is classified as current liabili-ties. Financial investments made for the purpose of short-term returns are classified as current assets, while long-term investments of strategic nature are classified as fixed assets. MATERIAL ACCOUNTING POLICIESAccounting policies according to the list below are included in the relevant notes to the Consolidated Financial Statements:Revenue recognition Note 2Employee benefits Note 5Vessels, newbuildings and equipment Note 7Leases Note 8Taxes Note 11Financial instruments Note 15Share information and earnings per share Note 16Provisions Note 20Contingent liabilities Note 22Investments in associates Note 24NEW AND AMENDED STANDARDS AND INTERPRETATIONSThe Group has not implemented any new accounting standards or otherwise made any changes to accounting policies during 2025.ACCOUNTING STANDARDS ISSUED BUT NOT YET EFFECTIVEIFRS 18 Presentation and Disclosure in Financial StatementIFRS 18 will replace IAS 1 Presentation of Financial Statements. IFRS 18 applies for annual reporting periods beginning on or after January 1, 2027, and will apply retrospectively. IFRS 18 introduces new requirements for presentation of line items and subtotals in the income statement, following a structure with five defined categories in the income statement, which are operating, investing, financing, income tax, and discontinued operations, whereof the first three are new. Although recognition and measurement of income and expenses will not be changed, the standard introduces mandatory presentation requirements which will lead to changes in reported subtotals compared to the structure currently presented. IFRS 18 further enhances the guidance on how to group information in the financial statements, relevant both for the primary statements and for notes. The standard also requires the defined operating profit subtotal as the starting point for the analysis of cash flows from operating activities in the indirect method and specifies mandatory classification of cash inflows from interest and dividend received in the investing category, and classification of interest paid in the financing category.Further, IFRS 18 introduces definition of, and disclosure requirements for, management-defined performance measures (MPMs), a set of finan-cial measures that are partly overlapping with alternative performance measures (APMs) which are currently disclosed and reconciled outside the financial statements. IFRS 18 requires MPMs to be disclosed, defined and reconciled in a note to the financial statements. In addition, narrow-scope amendments have been made to IAS 7 Statement of Cash Flows, which include changing the starting point for determining cash flows from operations under the indirect method, from \u201cprofit or loss\u201d to \u201coperating profit or loss\u201d and removing the optionality around classification of cash flows from dividends and interest. There are also other consequential amendments to several other standards.H\u00f6egh Autoliners is currently working to identify all impacts the amendments will have on the primary financial statements and notes to the financial statements. The initial expected material impacts on the Group\u2019s financial statements are, as follows:\u2022 Share of profit or loss from associates and joint ventures will be classified in the investing category in the profit or loss. \u2022 Foreign exchange difference will be classified in the category where the related income and expenses from the item giving rising to the foreign exchange difference.\u2022 New disclosure will be added: (a) management-defined performance measures, (b) specified expense by nature if expensed are presented by function in the operating category of the statement of profit or loss, and (c) a reconciliation for each line item in the statement of profit or loss between the restated amounts presented applying IFRS 18 and the amounts previously presented applying IAS 1.Amendments to the Classification and Measurement of Financial Instruments\u2014Amendments to IFRS 9 and IFRS 7In May 2024, the IASB issued Amendments to IFRS 9 and IFRS 7, Amendments to the Classification and Measurement of Financial Instruments (the Amendments). The Amendments include:\u2022 A clarification that a financial liability is derecognised on the \u2018settlement date\u2019 and the introduction of an accounting policy choice (if specific conditions are met) to derecognise financial liabilities settled using an electronic payment system before the settlement date\u2022 Additional guidance on how the contractual cash flows for financial assets with environmental, social and corporate governance (ESG) and similar features should be assessed\u2022 Clarifications on what constitute \u2018non-recourse features\u2019 and what are the characteristics of contractually linked instruments\u2022 The introduction of disclosures for financial instruments with contingent features and additional disclosure requirements for equity instruments classified at fair value through other comprehensive income (OCI)The Amendments are effective for annual periods starting on or after 1 January 2026 with early adoption permitted for classification of finan-cial assets and related disclosures only. The Group does not anticipate that the amendments will have a material effect on the Group\u2019s financial statements.",
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"f0__s7__6__24": {
"value": "NEW AND AMENDED STANDARDS AND INTERPRETATIONSThe Group has not implemented any new accounting standards or otherwise made any changes to accounting policies during 2025.ACCOUNTING STANDARDS ISSUED BUT NOT YET EFFECTIVEIFRS 18 Presentation and Disclosure in Financial StatementIFRS 18 will replace IAS 1 Presentation of Financial Statements. IFRS 18 applies for annual reporting periods beginning on or after January 1, 2027, and will apply retrospectively. IFRS 18 introduces new requirements for presentation of line items and subtotals in the income statement, following a structure with five defined categories in the income statement, which are operating, investing, financing, income tax, and discontinued operations, whereof the first three are new. Although recognition and measurement of income and expenses will not be changed, the standard introduces mandatory presentation requirements which will lead to changes in reported subtotals compared to the structure currently presented. IFRS 18 further enhances the guidance on how to group information in the financial statements, relevant both for the primary statements and for notes. The standard also requires the defined operating profit subtotal as the starting point for the analysis of cash flows from operating activities in the indirect method and specifies mandatory classification of cash inflows from interest and dividend received in the investing category, and classification of interest paid in the financing category.Further, IFRS 18 introduces definition of, and disclosure requirements for, management-defined performance measures (MPMs), a set of finan-cial measures that are partly overlapping with alternative performance measures (APMs) which are currently disclosed and reconciled outside the financial statements. IFRS 18 requires MPMs to be disclosed, defined and reconciled in a note to the financial statements. In addition, narrow-scope amendments have been made to IAS 7 Statement of Cash Flows, which include changing the starting point for determining cash flows from operations under the indirect method, from \u201cprofit or loss\u201d to \u201coperating profit or loss\u201d and removing the optionality around classification of cash flows from dividends and interest. There are also other consequential amendments to several other standards.H\u00f6egh Autoliners is currently working to identify all impacts the amendments will have on the primary financial statements and notes to the financial statements. The initial expected material impacts on the Group\u2019s financial statements are, as follows:\u2022 Share of profit or loss from associates and joint ventures will be classified in the investing category in the profit or loss. \u2022 Foreign exchange difference will be classified in the category where the related income and expenses from the item giving rising to the foreign exchange difference.\u2022 New disclosure will be added: (a) management-defined performance measures, (b) specified expense by nature if expensed are presented by function in the operating category of the statement of profit or loss, and (c) a reconciliation for each line item in the statement of profit or loss between the restated amounts presented applying IFRS 18 and the amounts previously presented applying IAS 1.Amendments to the Classification and Measurement of Financial Instruments\u2014Amendments to IFRS 9 and IFRS 7In May 2024, the IASB issued Amendments to IFRS 9 and IFRS 7, Amendments to the Classification and Measurement of Financial Instruments (the Amendments). The Amendments include:\u2022 A clarification that a financial liability is derecognised on the \u2018settlement date\u2019 and the introduction of an accounting policy choice (if specific conditions are met) to derecognise financial liabilities settled using an electronic payment system before the settlement date\u2022 Additional guidance on how the contractual cash flows for financial assets with environmental, social and corporate governance (ESG) and similar features should be assessed\u2022 Clarifications on what constitute \u2018non-recourse features\u2019 and what are the characteristics of contractually linked instruments\u2022 The introduction of disclosures for financial instruments with contingent features and additional disclosure requirements for equity instruments classified at fair value through other comprehensive income (OCI)The Amendments are effective for annual periods starting on or after 1 January 2026 with early adoption permitted for classification of finan-cial assets and related disclosures only. The Group does not anticipate that the amendments will have a material effect on the Group\u2019s financial statements.",
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"f0__s7__6__23": {
"value": "NEW AND AMENDED STANDARDS AND INTERPRETATIONSThe Group has not implemented any new accounting standards or otherwise made any changes to accounting policies during 2025.ACCOUNTING STANDARDS ISSUED BUT NOT YET EFFECTIVEIFRS 18 Presentation and Disclosure in Financial StatementIFRS 18 will replace IAS 1 Presentation of Financial Statements. IFRS 18 applies for annual reporting periods beginning on or after January 1, 2027, and will apply retrospectively. IFRS 18 introduces new requirements for presentation of line items and subtotals in the income statement, following a structure with five defined categories in the income statement, which are operating, investing, financing, income tax, and discontinued operations, whereof the first three are new. Although recognition and measurement of income and expenses will not be changed, the standard introduces mandatory presentation requirements which will lead to changes in reported subtotals compared to the structure currently presented. IFRS 18 further enhances the guidance on how to group information in the financial statements, relevant both for the primary statements and for notes. The standard also requires the defined operating profit subtotal as the starting point for the analysis of cash flows from operating activities in the indirect method and specifies mandatory classification of cash inflows from interest and dividend received in the investing category, and classification of interest paid in the financing category.Further, IFRS 18 introduces definition of, and disclosure requirements for, management-defined performance measures (MPMs), a set of finan-cial measures that are partly overlapping with alternative performance measures (APMs) which are currently disclosed and reconciled outside the financial statements. IFRS 18 requires MPMs to be disclosed, defined and reconciled in a note to the financial statements. In addition, narrow-scope amendments have been made to IAS 7 Statement of Cash Flows, which include changing the starting point for determining cash flows from operations under the indirect method, from \u201cprofit or loss\u201d to \u201coperating profit or loss\u201d and removing the optionality around classification of cash flows from dividends and interest. There are also other consequential amendments to several other standards.H\u00f6egh Autoliners is currently working to identify all impacts the amendments will have on the primary financial statements and notes to the financial statements. The initial expected material impacts on the Group\u2019s financial statements are, as follows:\u2022 Share of profit or loss from associates and joint ventures will be classified in the investing category in the profit or loss. \u2022 Foreign exchange difference will be classified in the category where the related income and expenses from the item giving rising to the foreign exchange difference.\u2022 New disclosure will be added: (a) management-defined performance measures, (b) specified expense by nature if expensed are presented by function in the operating category of the statement of profit or loss, and (c) a reconciliation for each line item in the statement of profit or loss between the restated amounts presented applying IFRS 18 and the amounts previously presented applying IAS 1.Amendments to the Classification and Measurement of Financial Instruments\u2014Amendments to IFRS 9 and IFRS 7In May 2024, the IASB issued Amendments to IFRS 9 and IFRS 7, Amendments to the Classification and Measurement of Financial Instruments (the Amendments). The Amendments include:\u2022 A clarification that a financial liability is derecognised on the \u2018settlement date\u2019 and the introduction of an accounting policy choice (if specific conditions are met) to derecognise financial liabilities settled using an electronic payment system before the settlement date\u2022 Additional guidance on how the contractual cash flows for financial assets with environmental, social and corporate governance (ESG) and similar features should be assessed\u2022 Clarifications on what constitute \u2018non-recourse features\u2019 and what are the characteristics of contractually linked instruments\u2022 The introduction of disclosures for financial instruments with contingent features and additional disclosure requirements for equity instruments classified at fair value through other comprehensive income (OCI)The Amendments are effective for annual periods starting on or after 1 January 2026 with early adoption permitted for classification of finan-cial assets and related disclosures only. The Group does not anticipate that the amendments will have a material effect on the Group\u2019s financial statements.",
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"f0__s7__6__25-1": {
"value": "1.1 GENERALPreparation of the financial statements in conformity with IFRS requires management to make judgements, estimates and assump-tions that affect the application of accounting principles and reported amounts of assets and liabilities, revenues and expenses and accompanying disclosures. The estimates are based on manage-ment\u2019s best knowledge of available information at the time the financial statements are approved. Uncertainty about these assump-tions and estimates could result in outcomes that require a material adjustment to the carrying amounts of assets and liabilities, affected in future periods. Changes in accounting estimates are recognised in the period the changes occur. When changes to estimates also affect future periods, the effect is distributed between the current and future periods.1.2 KEY SOURCES OF ESTIMATION UNCERTAINTIES AND ASSUMPTIONSResidual value and remaining lifetime on assetsAccording to IAS 16, the Group is required to evaluate the estimate for residual value and useful remaining lifetime of its vessels on a yearly basis. For further disclosures, see Note 7. 1.3 CRITICAL JUDGEMENTS IN APPLYING ACCOUNTING POLICIES The following judgements have the most significant effect on the amounts recognised in the consolidated financial statements.Determining the lease term of contracts with renewal and termination options \u2013 Group as a lesseeThe Group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is reasonably certain not to be exercised. The Group has several lease contracts that include extension and termination options. The Group applies judgement in evaluating whether it is reasonably certain whether or not to exercise the option to renew or terminate the lease. That is, it considers all relevant factors that create an economic incentive for it to exercise either the renewal or termination. For further disclosures, see Note 8.Impairment of assets The Group considers whether there are indicators of impairment. If indicators of impairment are present, the recoverable amount is estimated. The recoverable amount for the Group\u2019s main assets, vessels, is the higher of vessel-values provided by brokers and net present value of expected cash flows, based on the long-term forecasts discounted by the Group\u2019s WACC. For further disclosures, see Note 7.",
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"f0__s7__6__28": {
"value": "1.4 OTHER KEY FACTORSClimate change/riskClimate risk has evolved over the past decade to become an important consideration within the Group\u2019s overall financial risk management. We see climate-related risks over the short, medium and long-term that might be of material concern for both the Group and its stakeholders. Climate change interacts with the Group\u2019s business by physically changing the environment we operate in and creating transition risks that the Group must build resilience against. As for any sustainability topic considered to be material, the Group\u2019s approach is transparency through its reporting and communication. For more details on sustainability topics, see Sustainability State-ments section in this report.Aligned with the Task Force on Climate-Related Financial Disclosures (TCFD), the Group has, through a process of identifying, assessing and prioritising its climate-related risks and opportunities, conducted a climate risk analysis informed by different temperature scenarios. H\u00f6egh Autoliners faces significant risks and opportunities linked to climate change and governmental actions to reduce greenhouse gas (GHG) emissions and create low-carbon and climate-resilient economies. These risks and opportunities are integrated in the Group\u2019s risk management and strategy processes and embedded in the governance structures. As a global shipping company, the Company is operating within a sector contributing significantly to global CO2 emissions. The Company has clear targets when it comes to the decarbonisation of our own operations, with a target of reducing our carbon intensity by more than 30 percent by 2030 from a 2019 level, and to be net zero in own operations by 2040. H\u00f6egh Autoliners acknowledge that climate change, including the actions and measures taken by regu-latory institutions and industry participants may impose a significant financial impact on our business. The future emission and environ-mental regulations are necessary for the maritime industry to reduce its carbon footprint. Non-compliance with these regulations may lead to fines or even non-approval of documentation of compliance. While there are still uncertainties around future environmental regulations, carbon taxes for shipping within the EU have been implemented, as shipping was phased into the EU Emission Trading System (EU ETS) from 2024. This increases the operational cost for H\u00f6egh Autoliners if the Company fails to recoup the cost from its customers.In preparing these consolidated financial statements the Company has considered the impact of both physical and transition climate change risks as well as our plans to mitigate against those risks on the current valuation of our assets and liabilities. The impact of climate change to these consolidated financial statements is based on H\u00f6egh Autoliners\u2019 current understanding based on the status of the work done so far. Climate risk and impairment test and useful livesFactors that were considered for the impairment test for vessels have included an analysis of which measures will be necessary to achieve GHG emissions reduction targets. It is expected that decarbonisation measures will contain activities that have a greater degree of uncer-tainty than a traditional maintenance and upgrade program for the vessels, and thereby the cash flow effects related to such activities. We are continuously working with our long-term efforts to improve our energy efficiency. Energy efficiency improvements won\u2019t decar-bonise shipping operations alone but combined with a transition of our fleet and adaptation of alternative fuels, our decarbonisation targets are achievable. In order to meet IMO\u2019s 2030 carbon intensity target, its annual operational carbon intensity indicator (CII) targets and the FuelEU Maritime regulations, improved energy efficiency will be important. H\u00f6egh Autoliners can comply with these regulations by either running on low/zero-carbon fuels, reduce operational speed, implement fuel saving measures or renew its fleet. Reaching the Group\u2019s net-zero target in own operations by 2040 implies a signifi-cant transition of the current fleet, including additions of zero-carbon ready vessels, and disposal of legacy tonnage. In case of decision to sell a vessel, useful life and residual value will be updated. However, this is not expected to have any material effect on depreciations. With the delivery of the new Aurora class vessels, with its cutting-edge design, H\u00f6egh\u2019s fleet will be in a very good position to meet the above-mentioned regulations.From 1 January 2024, the EU\u2019s Emissions Trading System (EU ETS) was extended to cover CO2 emissions from all large ships (of 5 000 gross tonnage and above) entering EU ports, regardless of the flag they fly. This system is an emissions cap-and-trade system where the cap is a threshold which defines the total amount of greenhouse gases that can be emitted by an operator. It is reduced annually, at fixed intervals, in line with EU\u2019s climate target. The cap is expressed in emission allowances, where one allowance gives the right to emit one tonne of CO2eq (carbon dioxide equivalent). Operators are not allowed to generate more greenhouse gas emissions than their allowances can cover. If they do, heavy fines will be imposed. Shipping companies will have to purchase and surrender (use) EU ETS emissions allowances for each tonne of reported CO2 (or CO2 equivalent) emissions in the scope of the EU ETS system. Companies covered by the EU ETS must surrender (use) their allowances corresponding to their emissions within 30 September the following year. Emission allow-ances are auctioned, and companies can buy and sell them through secondary markets.The Group has included costs related to EU ETS allowances and fuel efficiency measures in the impairment model. The transition to a low-carbon economy can also affect future revenue for the Group\u2019s vessels, however due to the limited knowledge available for the future cash flow effects on revenue, the impairment test has not included any potential effect on future income cash flow.Both the EU ETS and the FuelEU Maritime regulations for reduction of the GHG intensity, has increased the complexity of operating a global network. The need for allocation of lower-GHG-emission fuels to cover compliance requirements of different regulations and customer demands in a cost-effective manner, is adding complexity. The Group continues to support rules at a global level.The Group has reviewed that the growth rates and projected cash flows, used in assessing whether the vessels are impaired, are consistent with the climate-related risk assumptions and the actions the Group is taking to mitigate against those risks.The Group seeks to maximise each vessels value across its opera-tional life. Given the climate change transition risks, the useful lives of property, plant and equipment, including vessels, are appropriate given the potential physical and obsolescence risks associated with climate change and the actions the Group is taking to mitigate against those risks and the targets that the Group set for 2040.As of year-end 2025, H\u00f6egh Autoliners has not identified any stranded assets or changes to useful lives for material assets, however external factors such as changes in demand from customers and other stakeholders, may impact this. Our disclosures on climate-related risks are based on various scenarios for the years 2030 and 2040. On the basis of these reviews, we have not identified any significant impact from climate-related risks on the Group\u2019s going concern assessment nor the viability of the Group for the next 12 months following the balance sheet date.Reference is made to note 7 Vessels, newbuildings and equipment for further information on assumptions used for impairment and useful lives. For more information on climate related risks and opportunities, see the Sustainability statements in this report.",
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"value": "ACCOUNTING POLICIESH\u00f6egh Autoliners provides RoRo transportation on deep sea and short sea markets as well as terminal related services. The Group also hires out some of its vessels on a time charter (TC) basis when necessary. The Group has the following major revenue streams- Voyage revenue- Terminal related revenueRevenues from shipping activities are recognised when the control of goods or services agreed in the contract has been transferred to the customer (satisfaction of performance obligation). Revenues are measured at the fair value of the consideration to which the Group expects to be entitled in a contract with a customer and excludes amounts collected by third parties.A contract is defined as an agreement between two or more parties that creates enforceable rights and obligations. For the Group, a contract with a customer is defined as the Bill of Lading document. Most of the services the Group provides are invoiced upon the issuance of the Bill of Lading.Each customer contract could initiate recognition of contract assets and liabilities. Historically, the Group has applied terms as deferred (accrued) income and prepayments to capture the information included in the term contract liabilities. The same is the case with other receivables to capture the information included in the term contract assets. Disclosures with regards to contract balances are presented below. The main contract liability for the Group is deferred (accrued) income where the Group has yet to perform the freight service for future periods (remaining voyage) but has received payment (or the payment is due) from the customers in excess of revenue recognised.Voyage revenues (Freight revenues)All voyage revenue is recognised in accordance with IFRS 15 by estimating the total income for a vessel on a voyage. All estimates are based on regular updates based on the progress of each voyage and the revenue is recognized over time on the basis of progress on fulfillment, as the customer is receiving and consuming the benefits of the transport services as the Group performs. The measure of progress is the number of days incurred compared to estimated total days for the applicable voyage. The voyage revenues measured at year-end give a faithful depiction of the transfer of services.Terminal related revenuesThe performance obligation for terminal related services is satisfied at the point in time when the service delivery is complete, and revenue is recognised at this time.",
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"value": "Note 2 \u2014 Total revenues ACCOUNTING POLICIESH\u00f6egh Autoliners provides RoRo transportation on deep sea and short sea markets as well as terminal related services. The Group also hires out some of its vessels on a time charter (TC) basis when necessary. The Group has the following major revenue streams- Voyage revenue- Terminal related revenueRevenues from shipping activities are recognised when the control of goods or services agreed in the contract has been transferred to the customer (satisfaction of performance obligation). Revenues are measured at the fair value of the consideration to which the Group expects to be entitled in a contract with a customer and excludes amounts collected by third parties.A contract is defined as an agreement between two or more parties that creates enforceable rights and obligations. For the Group, a contract with a customer is defined as the Bill of Lading document. Most of the services the Group provides are invoiced upon the issuance of the Bill of Lading.Each customer contract could initiate recognition of contract assets and liabilities. Historically, the Group has applied terms as deferred (accrued) income and prepayments to capture the information included in the term contract liabilities. The same is the case with other receivables to capture the information included in the term contract assets. Disclosures with regards to contract balances are presented below. The main contract liability for the Group is deferred (accrued) income where the Group has yet to perform the freight service for future periods (remaining voyage) but has received payment (or the payment is due) from the customers in excess of revenue recognised.Voyage revenues (Freight revenues)All voyage revenue is recognised in accordance with IFRS 15 by estimating the total income for a vessel on a voyage. All estimates are based on regular updates based on the progress of each voyage and the revenue is recognized over time on the basis of progress on fulfillment, as the customer is receiving and consuming the benefits of the transport services as the Group performs. The measure of progress is the number of days incurred compared to estimated total days for the applicable voyage. The voyage revenues measured at year-end give a faithful depiction of the transfer of services.Terminal related revenuesThe performance obligation for terminal related services is satisfied at the point in time when the service delivery is complete, and revenue is recognised at this time.Total revenues, cash flow and contract balances from contracts with customers have been disaggretated into category of services and presented in the tables below. Around 85% of the revenues are from contracts, where the average duration of contract backlog is 2.9 years. The contracts have fixed rates, with varying degrees of projected or committed volumes from the customers.Income Income Category of services (USD 1 000)statement 2025statement 2024Net freight revenues 1 225 512 1 181 738Other surcharges 199 999 188 680Freight revenues 1 425 512 1 370 418 Terminal related revenues - 410 Total revenues 1 425 512 1 370 828 Other surcharges are primarily bunker surcharges, and surcharges related to handling of cargo.(USD 1 000)Notes 31.12.2025 31.12.2024Freight receivables in Ro/Ro operations 190 965 172 396 Unearned freight income 92 201 89 412 Net freight receivables in Ro/Ro operations 13 98 764 82 985 Freight receivables in Other operations 3 317 2 094 Net freight receivables in Other operations 13 3 317 2 094 The Group receives payments from customers according to agreed payment terms. Freight receivables are non-interest bearing and are generally on terms of 30 to 90 days. Due to the nature of the Group\u2019s services, where the customers are invoiced at the beginning of the voyage, there are no material contract assets at year-end. Parts of deferred freight income at year-end represents a contract liability for those situations where the Group has yet to perform the freight service for future periods (remaining voyage), but has received payment (or the amount is due) from the customers in excess of revenue recognised. Amounts included in the deferred income at year-end, are recognised as revenue when the Group performs under the contracts, normally within the next few months, as the average voyage is around 50 days. Under the payment terms generally applicable to the Group\u2019s revenue generating activities, prepayments are received only to a limited extent.",
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"f0__s7__6__31": {
"value": "Note 2 \u2014 Total revenues ACCOUNTING POLICIESH\u00f6egh Autoliners provides RoRo transportation on deep sea and short sea markets as well as terminal related services. The Group also hires out some of its vessels on a time charter (TC) basis when necessary. The Group has the following major revenue streams- Voyage revenue- Terminal related revenueRevenues from shipping activities are recognised when the control of goods or services agreed in the contract has been transferred to the customer (satisfaction of performance obligation). Revenues are measured at the fair value of the consideration to which the Group expects to be entitled in a contract with a customer and excludes amounts collected by third parties.A contract is defined as an agreement between two or more parties that creates enforceable rights and obligations. For the Group, a contract with a customer is defined as the Bill of Lading document. Most of the services the Group provides are invoiced upon the issuance of the Bill of Lading.Each customer contract could initiate recognition of contract assets and liabilities. Historically, the Group has applied terms as deferred (accrued) income and prepayments to capture the information included in the term contract liabilities. The same is the case with other receivables to capture the information included in the term contract assets. Disclosures with regards to contract balances are presented below. The main contract liability for the Group is deferred (accrued) income where the Group has yet to perform the freight service for future periods (remaining voyage) but has received payment (or the payment is due) from the customers in excess of revenue recognised.Voyage revenues (Freight revenues)All voyage revenue is recognised in accordance with IFRS 15 by estimating the total income for a vessel on a voyage. All estimates are based on regular updates based on the progress of each voyage and the revenue is recognized over time on the basis of progress on fulfillment, as the customer is receiving and consuming the benefits of the transport services as the Group performs. The measure of progress is the number of days incurred compared to estimated total days for the applicable voyage. The voyage revenues measured at year-end give a faithful depiction of the transfer of services.Terminal related revenuesThe performance obligation for terminal related services is satisfied at the point in time when the service delivery is complete, and revenue is recognised at this time.Total revenues, cash flow and contract balances from contracts with customers have been disaggretated into category of services and presented in the tables below. Around 85% of the revenues are from contracts, where the average duration of contract backlog is 2.9 years. The contracts have fixed rates, with varying degrees of projected or committed volumes from the customers.Income Income Category of services (USD 1 000)statement 2025statement 2024Net freight revenues 1 225 512 1 181 738Other surcharges 199 999 188 680Freight revenues 1 425 512 1 370 418 Terminal related revenues - 410 Total revenues 1 425 512 1 370 828 Other surcharges are primarily bunker surcharges, and surcharges related to handling of cargo.(USD 1 000)Notes 31.12.2025 31.12.2024Freight receivables in Ro/Ro operations 190 965 172 396 Unearned freight income 92 201 89 412 Net freight receivables in Ro/Ro operations 13 98 764 82 985 Freight receivables in Other operations 3 317 2 094 Net freight receivables in Other operations 13 3 317 2 094 The Group receives payments from customers according to agreed payment terms. Freight receivables are non-interest bearing and are generally on terms of 30 to 90 days. Due to the nature of the Group\u2019s services, where the customers are invoiced at the beginning of the voyage, there are no material contract assets at year-end. Parts of deferred freight income at year-end represents a contract liability for those situations where the Group has yet to perform the freight service for future periods (remaining voyage), but has received payment (or the amount is due) from the customers in excess of revenue recognised. Amounts included in the deferred income at year-end, are recognised as revenue when the Group performs under the contracts, normally within the next few months, as the average voyage is around 50 days. Under the payment terms generally applicable to the Group\u2019s revenue generating activities, prepayments are received only to a limited extent.",
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"f0__s7__6__36-1": {
"value": "Note 3 \u2013 Bunker, voyage and charter hire expensesVoyage expenses Voyage expenses are variable costs relating to vessel operation and transshipment. The activity in 2025 with more vessels in operation and more port calls have increased total voyage expenses.Charter hire expenses The increase in charter hire expenses is due to more short time vessels hired in and more use of space charters in 2025compared to 2024. To mitigate reduced efficiency and to meet contractual commitments, additional short-term capacity has been added.Bunker expenses (USD 1 000) 2025 2024 Total bunker consumption (1 000 mt) 389 355 Average price (USD/mt) 597 665 Total 232 341 236 124 Voyage expenses (USD 1 000) 2025 2024 Loading 62 396 53 551 Discharging 72 751 61 694 Port cost 80 794 64 397 Canal cost 45 818 33 357 Transhipment 24 813 25 404 Claims and insurance 2 057 2 734 Equipment 7 630 6 689 Commission* 42 021 43 215 Terminal - 406 Other 19 040 20 980 Total 357 320 312 426 * Including administrative expenses related to regional and local offices.Charter hire expenses (USD 1 000) 2025 2024 Charter hire and space charter expenses on short-term time charter contracts 79 334 5 666 Total 79 334 5 666Note 4 \u2014 Running expensesRunning expenses are the costs of managing the vessel, including crew wages, management fees, insurance, spares, repairs and maintenance.(USD 1 000)2025 2024Sea personnel expenses 49 399 43 678 Spares, Repair & Maintenance 21 023 19 634 Consumables 14 379 13 372 Insurance 13 410 13 010 Ship management other 13 649 11 807 Total 111 860 101 502 Included in ship management other is training and travel expenses for crew and satellite communication. ",
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"f0__s7__6__35-1": {
"value": "Note 3 \u2013 Bunker, voyage and charter hire expensesVoyage expenses Voyage expenses are variable costs relating to vessel operation and transshipment. The activity in 2025 with more vessels in operation and more port calls have increased total voyage expenses.Charter hire expenses The increase in charter hire expenses is due to more short time vessels hired in and more use of space charters in 2025compared to 2024. To mitigate reduced efficiency and to meet contractual commitments, additional short-term capacity has been added.Bunker expenses (USD 1 000) 2025 2024 Total bunker consumption (1 000 mt) 389 355 Average price (USD/mt) 597 665 Total 232 341 236 124 Voyage expenses (USD 1 000) 2025 2024 Loading 62 396 53 551 Discharging 72 751 61 694 Port cost 80 794 64 397 Canal cost 45 818 33 357 Transhipment 24 813 25 404 Claims and insurance 2 057 2 734 Equipment 7 630 6 689 Commission* 42 021 43 215 Terminal - 406 Other 19 040 20 980 Total 357 320 312 426 * Including administrative expenses related to regional and local offices.Charter hire expenses (USD 1 000) 2025 2024 Charter hire and space charter expenses on short-term time charter contracts 79 334 5 666 Total 79 334 5 666Note 4 \u2014 Running expensesRunning expenses are the costs of managing the vessel, including crew wages, management fees, insurance, spares, repairs and maintenance.(USD 1 000)2025 2024Sea personnel expenses 49 399 43 678 Spares, Repair & Maintenance 21 023 19 634 Consumables 14 379 13 372 Insurance 13 410 13 010 Ship management other 13 649 11 807 Total 111 860 101 502 Included in ship management other is training and travel expenses for crew and satellite communication. Note 5 \u2014 Administrative expenses, pensions and other long-term employee benefits Administrative expenses (USD 1 000)2025 2024 Salaries 12 576 10 888 Payroll taxes 1 747 1 741 Pension expenses 607 547 Office expenses 7 780 7 746 Other administrative expenses 1 376 2 117 Total administrative expenses 24 087 23 040 Administrative expenses Salaries to office personnel and other office and administrative expenses related to Head office are presented as \u201cAdministrative expenses\u201d. Administrative expenses including salaries related to Regional and Local offices are presented as \u201cVoyage expenses\u201d, see note 3. Total salaries for head office and regional and local offices amount to USD 34.6 million (2024: USD 30.2 million).Number of employees 2025 2024 Office 481 469 Sea personnel * 1 282 1 212 Total 1 763 1 681 * Salary to sea personnel is presented as \u201cRunning expenses\u201d. For further information see Note 4.Auditor\u2019s fee (USD 1 000) 2025 2024 Statutory audit 462 530 Assurance services and other audit related services 236 319 Tax services 14 12 Other services 18 29 Total 730 890 Amounts excluded value added tax.For details on remuneration to executive management and board of directors, see Remuneration report published on our website. Pensions and other long-term employee benefits Accounting policiesPensionsThe Group provides defined contribution plans, defined benefit plans and other post-employment benefits. The contribution plans comprise plans whereby the Group makes annual contributions to the employees\u2019 pension plan, which is the expense for the period. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold enough assets to pay all employees the benefits relating to employee service in the current and prior period. Contributions to the plan are expensed as pension costs. Norwegian employers are obliged to have an occupational pension scheme for their employees under the Act on Mandatory occupational pension. The Group is incompliance with these regulations. Defined benefit plans define an amount of pension benefit that an employee will receive on retirement, dependent on a set of assumptions. The Group has no significant benefit plans or other post-employment benefits.Share bonus programThe Group has a long-term incentive plan which is a share bonus program for key personnel. Under the program key personnel are granted award shares that will be converted to shares based on certain conditions being fulfilled. The costs related to the program will be expensed over the vesting period of 36 months and recog-nised as salary expense with a corresponding entry to equity. For more information about the share bonus program, see Note 6.The following tables summarise the components of expenses recognised in the statement of comprehensive income and the liabilities recognised in the statement of financial position for the significant plans in the Group.Pension expenses (USD 1 000) 2025 2024Norway Defined contribution plan 693 615 Total Norway 693 615 Other countries 1 243 1 077 Total pension expenses* 1 935 1 693 * Of the total pension expenses USD 0.7 million (2024: USD 0.6 million) is reported as administrative expenses, the remaining is reported as voyage expenses.Net pension liabilities (USD 1 000) 2025 2024 Norway 57 57 Other countries 3 117 2 986 Total net pension pension liability 3 174 3 043",
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"f0__s7__6__34-1": {
"value": "Note 3 \u2013 Bunker, voyage and charter hire expensesVoyage expenses Voyage expenses are variable costs relating to vessel operation and transshipment. The activity in 2025 with more vessels in operation and more port calls have increased total voyage expenses.Charter hire expenses The increase in charter hire expenses is due to more short time vessels hired in and more use of space charters in 2025compared to 2024. To mitigate reduced efficiency and to meet contractual commitments, additional short-term capacity has been added.Bunker expenses (USD 1 000) 2025 2024 Total bunker consumption (1 000 mt) 389 355 Average price (USD/mt) 597 665 Total 232 341 236 124 Voyage expenses (USD 1 000) 2025 2024 Loading 62 396 53 551 Discharging 72 751 61 694 Port cost 80 794 64 397 Canal cost 45 818 33 357 Transhipment 24 813 25 404 Claims and insurance 2 057 2 734 Equipment 7 630 6 689 Commission* 42 021 43 215 Terminal - 406 Other 19 040 20 980 Total 357 320 312 426 * Including administrative expenses related to regional and local offices.Charter hire expenses (USD 1 000) 2025 2024 Charter hire and space charter expenses on short-term time charter contracts 79 334 5 666 Total 79 334 5 666Note 4 \u2014 Running expensesRunning expenses are the costs of managing the vessel, including crew wages, management fees, insurance, spares, repairs and maintenance.(USD 1 000)2025 2024Sea personnel expenses 49 399 43 678 Spares, Repair & Maintenance 21 023 19 634 Consumables 14 379 13 372 Insurance 13 410 13 010 Ship management other 13 649 11 807 Total 111 860 101 502 Included in ship management other is training and travel expenses for crew and satellite communication. Note 5 \u2014 Administrative expenses, pensions and other long-term employee benefits Administrative expenses (USD 1 000)2025 2024 Salaries 12 576 10 888 Payroll taxes 1 747 1 741 Pension expenses 607 547 Office expenses 7 780 7 746 Other administrative expenses 1 376 2 117 Total administrative expenses 24 087 23 040 Administrative expenses Salaries to office personnel and other office and administrative expenses related to Head office are presented as \u201cAdministrative expenses\u201d. Administrative expenses including salaries related to Regional and Local offices are presented as \u201cVoyage expenses\u201d, see note 3. Total salaries for head office and regional and local offices amount to USD 34.6 million (2024: USD 30.2 million).Number of employees 2025 2024 Office 481 469 Sea personnel * 1 282 1 212 Total 1 763 1 681 * Salary to sea personnel is presented as \u201cRunning expenses\u201d. For further information see Note 4.Auditor\u2019s fee (USD 1 000) 2025 2024 Statutory audit 462 530 Assurance services and other audit related services 236 319 Tax services 14 12 Other services 18 29 Total 730 890 Amounts excluded value added tax.For details on remuneration to executive management and board of directors, see Remuneration report published on our website. Pensions and other long-term employee benefits Accounting policiesPensionsThe Group provides defined contribution plans, defined benefit plans and other post-employment benefits. The contribution plans comprise plans whereby the Group makes annual contributions to the employees\u2019 pension plan, which is the expense for the period. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold enough assets to pay all employees the benefits relating to employee service in the current and prior period. Contributions to the plan are expensed as pension costs. Norwegian employers are obliged to have an occupational pension scheme for their employees under the Act on Mandatory occupational pension. The Group is incompliance with these regulations. Defined benefit plans define an amount of pension benefit that an employee will receive on retirement, dependent on a set of assumptions. The Group has no significant benefit plans or other post-employment benefits.Share bonus programThe Group has a long-term incentive plan which is a share bonus program for key personnel. Under the program key personnel are granted award shares that will be converted to shares based on certain conditions being fulfilled. The costs related to the program will be expensed over the vesting period of 36 months and recog-nised as salary expense with a corresponding entry to equity. For more information about the share bonus program, see Note 6.The following tables summarise the components of expenses recognised in the statement of comprehensive income and the liabilities recognised in the statement of financial position for the significant plans in the Group.Pension expenses (USD 1 000) 2025 2024Norway Defined contribution plan 693 615 Total Norway 693 615 Other countries 1 243 1 077 Total pension expenses* 1 935 1 693 * Of the total pension expenses USD 0.7 million (2024: USD 0.6 million) is reported as administrative expenses, the remaining is reported as voyage expenses.Net pension liabilities (USD 1 000) 2025 2024 Norway 57 57 Other countries 3 117 2 986 Total net pension pension liability 3 174 3 043",
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"value": "Number of employees 2025 2024 Office 481 469 Sea personnel * 1 282 1 212 Total 1 763 1 681 * Salary to sea personnel is presented as \u201cRunning expenses\u201d. For further information see Note 4.",
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},
"f0__s7__6__43": {
"value": "Note 5 \u2014 Administrative expenses, pensions and other long-term employee benefits Administrative expenses (USD 1 000)2025 2024 Salaries 12 576 10 888 Payroll taxes 1 747 1 741 Pension expenses 607 547 Office expenses 7 780 7 746 Other administrative expenses 1 376 2 117 Total administrative expenses 24 087 23 040 Administrative expenses Salaries to office personnel and other office and administrative expenses related to Head office are presented as \u201cAdministrative expenses\u201d. Administrative expenses including salaries related to Regional and Local offices are presented as \u201cVoyage expenses\u201d, see note 3. Total salaries for head office and regional and local offices amount to USD 34.6 million (2024: USD 30.2 million).Number of employees 2025 2024 Office 481 469 Sea personnel * 1 282 1 212 Total 1 763 1 681 * Salary to sea personnel is presented as \u201cRunning expenses\u201d. For further information see Note 4.Auditor\u2019s fee (USD 1 000) 2025 2024 Statutory audit 462 530 Assurance services and other audit related services 236 319 Tax services 14 12 Other services 18 29 Total 730 890 Amounts excluded value added tax.For details on remuneration to executive management and board of directors, see Remuneration report published on our website. Pensions and other long-term employee benefits Accounting policiesPensionsThe Group provides defined contribution plans, defined benefit plans and other post-employment benefits. The contribution plans comprise plans whereby the Group makes annual contributions to the employees\u2019 pension plan, which is the expense for the period. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold enough assets to pay all employees the benefits relating to employee service in the current and prior period. Contributions to the plan are expensed as pension costs. Norwegian employers are obliged to have an occupational pension scheme for their employees under the Act on Mandatory occupational pension. The Group is incompliance with these regulations. Defined benefit plans define an amount of pension benefit that an employee will receive on retirement, dependent on a set of assumptions. The Group has no significant benefit plans or other post-employment benefits.Share bonus programThe Group has a long-term incentive plan which is a share bonus program for key personnel. Under the program key personnel are granted award shares that will be converted to shares based on certain conditions being fulfilled. The costs related to the program will be expensed over the vesting period of 36 months and recog-nised as salary expense with a corresponding entry to equity. For more information about the share bonus program, see Note 6.The following tables summarise the components of expenses recognised in the statement of comprehensive income and the liabilities recognised in the statement of financial position for the significant plans in the Group.Pension expenses (USD 1 000) 2025 2024Norway Defined contribution plan 693 615 Total Norway 693 615 Other countries 1 243 1 077 Total pension expenses* 1 935 1 693 * Of the total pension expenses USD 0.7 million (2024: USD 0.6 million) is reported as administrative expenses, the remaining is reported as voyage expenses.Net pension liabilities (USD 1 000) 2025 2024 Norway 57 57 Other countries 3 117 2 986 Total net pension pension liability 3 174 3 043",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__40": {
"value": "Note 5 \u2014 Administrative expenses, pensions and other long-term employee benefits Administrative expenses (USD 1 000)2025 2024 Salaries 12 576 10 888 Payroll taxes 1 747 1 741 Pension expenses 607 547 Office expenses 7 780 7 746 Other administrative expenses 1 376 2 117 Total administrative expenses 24 087 23 040 Administrative expenses Salaries to office personnel and other office and administrative expenses related to Head office are presented as \u201cAdministrative expenses\u201d. Administrative expenses including salaries related to Regional and Local offices are presented as \u201cVoyage expenses\u201d, see note 3. Total salaries for head office and regional and local offices amount to USD 34.6 million (2024: USD 30.2 million).Number of employees 2025 2024 Office 481 469 Sea personnel * 1 282 1 212 Total 1 763 1 681 * Salary to sea personnel is presented as \u201cRunning expenses\u201d. For further information see Note 4.Auditor\u2019s fee (USD 1 000) 2025 2024 Statutory audit 462 530 Assurance services and other audit related services 236 319 Tax services 14 12 Other services 18 29 Total 730 890 Amounts excluded value added tax.For details on remuneration to executive management and board of directors, see Remuneration report published on our website. Pensions and other long-term employee benefits Accounting policiesPensionsThe Group provides defined contribution plans, defined benefit plans and other post-employment benefits. The contribution plans comprise plans whereby the Group makes annual contributions to the employees\u2019 pension plan, which is the expense for the period. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold enough assets to pay all employees the benefits relating to employee service in the current and prior period. Contributions to the plan are expensed as pension costs. Norwegian employers are obliged to have an occupational pension scheme for their employees under the Act on Mandatory occupational pension. The Group is incompliance with these regulations. Defined benefit plans define an amount of pension benefit that an employee will receive on retirement, dependent on a set of assumptions. The Group has no significant benefit plans or other post-employment benefits.Share bonus programThe Group has a long-term incentive plan which is a share bonus program for key personnel. Under the program key personnel are granted award shares that will be converted to shares based on certain conditions being fulfilled. The costs related to the program will be expensed over the vesting period of 36 months and recog-nised as salary expense with a corresponding entry to equity. For more information about the share bonus program, see Note 6.The following tables summarise the components of expenses recognised in the statement of comprehensive income and the liabilities recognised in the statement of financial position for the significant plans in the Group.Pension expenses (USD 1 000) 2025 2024Norway Defined contribution plan 693 615 Total Norway 693 615 Other countries 1 243 1 077 Total pension expenses* 1 935 1 693 * Of the total pension expenses USD 0.7 million (2024: USD 0.6 million) is reported as administrative expenses, the remaining is reported as voyage expenses.Net pension liabilities (USD 1 000) 2025 2024 Norway 57 57 Other countries 3 117 2 986 Total net pension pension liability 3 174 3 043",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__45": {
"value": "Auditor\u2019s fee (USD 1 000) 2025 2024 Statutory audit 462 530 Assurance services and other audit related services 236 319 Tax services 14 12 Other services 18 29 Total 730 890 Amounts excluded value added tax",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__47": {
"value": "Accounting policiesPensionsThe Group provides defined contribution plans, defined benefit plans and other post-employment benefits. The contribution plans comprise plans whereby the Group makes annual contributions to the employees\u2019 pension plan, which is the expense for the period. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold enough assets to pay all employees the benefits relating to employee service in the current and prior period. Contributions to the plan are expensed as pension costs. Norwegian employers are obliged to have an occupational pension scheme for their employees under the Act on Mandatory occupational pension. The Group is incompliance with these regulations. Defined benefit plans define an amount of pension benefit that an employee will receive on retirement, dependent on a set of assumptions. The Group has no significant benefit plans or other post-employment benefits.Share bonus programThe Group has a long-term incentive plan which is a share bonus program for key personnel. Under the program key personnel are granted award shares that will be converted to shares based on certain conditions being fulfilled. The costs related to the program will be expensed over the vesting period of 36 months and recog-nised as salary expense with a corresponding entry to equity. For more information about the share bonus program, see Note 6",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__48": {
"value": "Note 6 \u2014 Share bonus programA share bonus program was introduced for certain key employees in November 2021, to promote the long-term growth and profitability of the Company by providing an opportunity to acquire an ownership interest in the Company. The program is a share bonus scheme where award shares are assigned on certain terms and conditions, and after a vesting period of three years, will be converted to shares in the Company. Award shares are assigned annually at the Board\u2019s discretion.The share bonus program is subject to continued employment and the granted shares are subject to a lock-up period of two years following the end of the vesting period.The award share gives the employee no rights whatsoever and the award share has no value. The award share is used in the award calculation method for determining the amount of bonus shares which shall be granted to the employee after the award shares have vested. The calculation of bonus shares is based on the difference between the share price at the award date and the share price at the vesting date, adjusted for any dividend payment in the period between award date and vesting date. The fair value of the award shares is estimated by using the Black Scholes option price model. The first award was granted in 2021. The total fair value of the 2021 award shares was calculated to be USD 1.4 million at the award date, which is expensed over the vesting period of three years. For 2022, the share bonus program gave an income statement effect of USD 465 thousand related to the expense of the 2021 award shares.On 20 December 2022, a second award under the share bonus program was granted. In the calculation of the fair value of these award shares, the closing share price at the award date was NOK 63.60 and the strike price was NOK 61.32, calculated as an average of the share price the last 5 trading days before the award date. The volatility was based on three years historical volatility (56%) at peer with a dividend yield of 7%. The total fair value of the 2022 award shares was calculated to be USD 0.3 million at the award date, which will be expensed over the vesting period of three years, starting from January 2023.On 13 December 2023, a third award under the share bonus program was granted. In the calculation of the fair value of these award shares, the closing share price at the award date was NOK 86.30 and the strike price was NOK 89.10, calculated as an average of the share price the last 5 trading days before the award date. The volatility was based on three years historical volatility (46%) at peer with a dividend yield of 19%. The total fair value of the 2023 award shares has been calculated to be USD 0.05 million at the award date, which will be expensed over the vesting period of three years, starting from January 2024.For 2023, the share bonus program gave an income statement effect of USD 465 thousand related to the expense of the 2021 award shares and USD 98 thousand related to the 2022 award shares, a total of USD 563 thousand.On 25 November 2024, the 2021 award vested and the award shares were converted to shares. To meet the obligations from the share bonus program, the Company purchased 330 000 own shares, where a total of 326 348 shares were delivered to the participants. The settlement of the 2021 award was accounted for as an equity transaction, with no income statement effect. The total equity effect of the settlement was USD 12.7 million in reduced equity, including the purchase of own shares.On 9 December 2024, a fourth award under the share bonus program was granted. In the calculation of the fair value of these award shares, the closing share price at the award date was NOK 129.80 and the strike price was NOK 128.85, calculated as an average of the share price the last 5 trading days before the award date. The volatility was based on three years historical volatility (52%) with a dividend yield of 22.11%. The total fair value of the 2024 award shares has been calculated to be USD 0.155 million at the award date, which will be expensed over the vesting period of three years, starting from January 2025.For 2025, the share bonus program gave an income statement effect of USD 98 thousand related to the expense of the 2022 award shares, USD 35 thousand related to the 2023 award shares and USD 114 thousand related to the 2024 award, a total of USD 248 thousand.On 10 December 2025, a fifth award under the share bonus program was granted. In the calculation of the fair value of these award shares, the closing share price at the award date was NOK 96.15 and the strike price was NOK 92.03, calculated as an average of the share price the last 5 trading days before the award date. The volatility was based on three years historical volatility (62%). Dividend yield has been adjusted for in the strike price. The total fair value of the 2025 award shares has been calculated to be USD 0.7 million at the award date, which will be expensed over the vesting period of three years, starting from January 2026.On 19 December 2025, the 2022 award vested and the award shares were converted to shares. To meet the obligations from the share bonus program, the Company purchased 103 000 own shares. A total of 106 192 shares were delivered to the participants, of which 3 192 shares were delivered from the Company\u2019s own shares. The settlement of the 2022 award was accounted for as an equity transaction, with no income statement effect. The total equity effect of the settlement was USD 2.1 million in reduced equity, including the purchase of own shares.The following table shows the number of award shares issued under the Share bonus program, the number of award shares outstanding as at 31 December 2025 and the year in which the award shares will vest.Note 6 \u2014 Share bonus program Share bonus program (USD 1 000)2021 2022 2023 2024 2025Outstanding at beginning of period - 1 038 317 1 131 759 1 213 828 309 012 Awarded during the period 1 038 317 93 442 82 069 133 501 165 526 Exercised during the period - - - (1 038 317) (93 442)Outstanding at end of period 1 038 317 1 131 759 1 213 828 309 012 381 096 Vesting date29 November 2024 1 038 317 - - - - 20 December 2025 - 93 442 - - - 13 December 2026 - - 82 069 - - 9 December 2027 - - - 133 501 - 10 December 2028 165 526 Outstanding at end of period 1 038 317 93 442 82 069 133 501 165 526 Costs share bonus program (USD 1 000)2022 2023 2024 20252025 award - - - - 2024 award - - - 114 2023 award - - 35 35 2022 award - 98 98 982021 award 465 465 426 - Total cost 465 563 560 248",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__54": {
"value": "ACCOUNTING POLICIES Vessels, newbuildings and equipmentFixed assets are recorded at cost less accumulated depreciation and impairments. For newbuilding contracts, the cost price includes all the costs incurred in the development and construction process, including borrowing costs, construction supervision costs and technical costs. For vessels that have been purchased in the second-hand market, the cost price includes expenses directly related to the acquisition. When assets are sold or disposed of, the gross carrying amount and accumulated depreciation are reversed, and any gain or loss on the sale or disposal is included in the statement of comprehensive income.Vessels The depreciation is calculated on a straight-line basis and adjusted for impairment if applicable. The RoRo vessels have an expected useful life of 30 years. Vessels are depreciated to estimated scrap value. Expected economic life and estimated scrap values of the vessels are reviewed and evaluated at each balance sheet date. If new evaluations materially differ from earlier estimates the depreciation is changed accordingly.Ordinary repairs and maintenance costs are expensed as incurred. Docking cost/classification costs are capitalised and amortised over the period until the next anticipated docking/inspection. Costs that do not meet the capitalisation criteria are expensed as repairs and maintenance costs.Newbuildings Instalments on newbuilding contracts are capitalised as \u201cNewbuild-ings\u201d when they are paid. Upon delivery, newbuildings are reclassi-fied to vessels and are subject to depreciation.The acquisition cost includes direct investments, cost incurred during the construction period and borrowing cost. Borrowing costs are capitalised during the construction period.Assets held for saleAssets are held for sale when their carrying amount is to be recov-ered principally through a sale transaction and a sale is considered highly probable. They are stated at the lower of carrying amount and their fair value less cost of sale. Property, plant and equipment and intangible assets are not depreciated or amortised once classified as held for sale.EquipmentDepreciation is calculated on a straight-line basis with the following estimated useful life:- Vessel equipment 10 years- Office equipment 3-5 years- Vehicles 5 years- IT-system 10-15 yearsImpairment of non-financial assetsThe carrying amount of tangible assets is tested for impairment whenever there are indications that the value of these assets may have been impaired. If the carrying amount of an asset is higher than the recoverable amount, an impairment loss will be recog-nised in the statement of comprehensive income. The recoverable amount of an asset or a cash-generating unit is the higher of its fair value less cost to sell and its value-in-use. The recoverable amount is determined separately for all assets, but if not possible, this will be determined together with the cash-generating unit to which the asset belongs. All vessels participating in the Group\u2019s RoRo operations are considered part of a single cash-generating unit as this is the smallest strategically identifiable group of assets.Impairment losses recognised in prior periods are reversed when indications of impairment no longer exist or have decreased. A loss is only reversed to the extent that the asset\u2019s carrying amount does not exceed the carrying value recognised if no impairment charges had been recognised in prior periods and normal depreciation and amortisation policies had been applied",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__55": {
"value": "Ordinary repairs and maintenance costs are expensed as incurred. Docking cost/classification costs are capitalised and amortised over the period until the next anticipated docking/inspection. Costs that do not meet the capitalisation criteria are expensed as repairs and maintenance costs.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRepairsAndMaintenanceExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__51": {
"value": "Assets held for saleAssets are held for sale when their carrying amount is to be recov-ered principally through a sale transaction and a sale is considered highly probable. They are stated at the lower of carrying amount and their fair value less cost of sale. Property, plant and equipment and intangible assets are not depreciated or amortised once classified as held for sale.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__53": {
"value": "Impairment of non-financial assetsThe carrying amount of tangible assets is tested for impairment whenever there are indications that the value of these assets may have been impaired. If the carrying amount of an asset is higher than the recoverable amount, an impairment loss will be recog-nised in the statement of comprehensive income. The recoverable amount of an asset or a cash-generating unit is the higher of its fair value less cost to sell and its value-in-use. The recoverable amount is determined separately for all assets, but if not possible, this will be determined together with the cash-generating unit to which the asset belongs. All vessels participating in the Group\u2019s RoRo operations are considered part of a single cash-generating unit as this is the smallest strategically identifiable group of assets.Impairment losses recognised in prior periods are reversed when indications of impairment no longer exist or have decreased. A loss is only reversed to the extent that the asset\u2019s carrying amount does not exceed the carrying value recognised if no impairment charges had been recognised in prior periods and normal depreciation and amortisation policies had been applied.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__52": {
"value": "Impairment of non-financial assetsThe carrying amount of tangible assets is tested for impairment whenever there are indications that the value of these assets may have been impaired. If the carrying amount of an asset is higher than the recoverable amount, an impairment loss will be recog-nised in the statement of comprehensive income. The recoverable amount of an asset or a cash-generating unit is the higher of its fair value less cost to sell and its value-in-use. The recoverable amount is determined separately for all assets, but if not possible, this will be determined together with the cash-generating unit to which the asset belongs. All vessels participating in the Group\u2019s RoRo operations are considered part of a single cash-generating unit as this is the smallest strategically identifiable group of assets.Impairment losses recognised in prior periods are reversed when indications of impairment no longer exist or have decreased. A loss is only reversed to the extent that the asset\u2019s carrying amount does not exceed the carrying value recognised if no impairment charges had been recognised in prior periods and normal depreciation and amortisation policies had been applied.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__50": {
"value": "Note 7 \u2014 Vessels, newbuildings, equipment and right-of-use assetsACCOUNTING POLICIES Vessels, newbuildings and equipmentFixed assets are recorded at cost less accumulated depreciation and impairments. For newbuilding contracts, the cost price includes all the costs incurred in the development and construction process, including borrowing costs, construction supervision costs and technical costs. For vessels that have been purchased in the second-hand market, the cost price includes expenses directly related to the acquisition. When assets are sold or disposed of, the gross carrying amount and accumulated depreciation are reversed, and any gain or loss on the sale or disposal is included in the statement of comprehensive income.Vessels The depreciation is calculated on a straight-line basis and adjusted for impairment if applicable. The RoRo vessels have an expected useful life of 30 years. Vessels are depreciated to estimated scrap value. Expected economic life and estimated scrap values of the vessels are reviewed and evaluated at each balance sheet date. If new evaluations materially differ from earlier estimates the depreciation is changed accordingly.Ordinary repairs and maintenance costs are expensed as incurred. Docking cost/classification costs are capitalised and amortised over the period until the next anticipated docking/inspection. Costs that do not meet the capitalisation criteria are expensed as repairs and maintenance costs.Newbuildings Instalments on newbuilding contracts are capitalised as \u201cNewbuild-ings\u201d when they are paid. Upon delivery, newbuildings are reclassi-fied to vessels and are subject to depreciation.The acquisition cost includes direct investments, cost incurred during the construction period and borrowing cost. Borrowing costs are capitalised during the construction period.Assets held for saleAssets are held for sale when their carrying amount is to be recov-ered principally through a sale transaction and a sale is considered highly probable. They are stated at the lower of carrying amount and their fair value less cost of sale. Property, plant and equipment and intangible assets are not depreciated or amortised once classified as held for sale.EquipmentDepreciation is calculated on a straight-line basis with the following estimated useful life:- Vessel equipment 10 years- Office equipment 3-5 years- Vehicles 5 years- IT-system 10-15 yearsImpairment of non-financial assetsThe carrying amount of tangible assets is tested for impairment whenever there are indications that the value of these assets may have been impaired. If the carrying amount of an asset is higher than the recoverable amount, an impairment loss will be recog-nised in the statement of comprehensive income. The recoverable amount of an asset or a cash-generating unit is the higher of its fair value less cost to sell and its value-in-use. The recoverable amount is determined separately for all assets, but if not possible, this will be determined together with the cash-generating unit to which the asset belongs. All vessels participating in the Group\u2019s RoRo operations are considered part of a single cash-generating unit as this is the smallest strategically identifiable group of assets.Impairment losses recognised in prior periods are reversed when indications of impairment no longer exist or have decreased. A loss is only reversed to the extent that the asset\u2019s carrying amount does not exceed the carrying value recognised if no impairment charges had been recognised in prior periods and normal depreciation and amortisation policies had been applied.NewbuildingRight-of-use2025 (USD 1 000)Vessels& Projects * EquipmentAssets TotalCost at 01.01 2 483 703 229 374 26 362 223 003 2 962 441 Additions 15 971 265 977 817 1 361 284 126 Transfer from newbuilding and projects 356 285 (359 872) 3 587 - - Newbuilding interest - 10 353 - - 10 353 Remeasured leases - - - (4 255) (4 255)Reclassification 50 882 - - (50 882) -Disposals (95 751) (1 037) (137) (93 846) (190 772)Cost at 31.12 2 811 089 144 795 30 628 75 381 3 061 894 Accumulated depreciation and impairment at 01.01 (1 053 639) - (13 990) (152 924) (1 220 553) Depreciation (103 993) - (3 139) (23 604) (130 736) Reclassification (24 278) - - 24 278 - Disposals 54 427 - 128 93 846 148 402 Accumulated depreciation and impairment at 31.12 (1 127 483) - (17 000) (58 405) (1 202 888)Net carrying amount at 31.12 1 683 606 144 795 13 628 16 977 1 859 006 Book value sold assets 41 324 1 037 9 - 42 370 Sales price 103 040 - 14 - 103 054 Gain / (loss) 61 716 (1 037) 5 - 60 684 * Newbuildings & Projects include instalments related to the Aurora newbuilding program.The vessels H\u00f6egh New York and H\u00f6egh Beijing have been sold during the year. The purchase option for the leased vessel H\u00f6egh Copenhagen was declared in Q1 2025, and she was purchased in Q3 2025 and reclassified from right-of-use assets to vessels. Three Aurora Class newbuildings have been delivered duringthe year, H\u00f6egh Sunrise, H\u00f6egh Moonlight, and H\u00f6egh Starlight. Of the total additions of USD 284 million, USD 1 million relates to right-of-use assets and is non-cash.NewbuildingRight-of-use2024 (USD 1 000)Vessels& Projects * EquipmentAssets TotalCost at 01.01 2 117 067 269 853 25 771 312 919 2 725 610 Additions 90 960 405 060 799 10 542 507 361 Transfer from newbuilding and projects 462 730 (463 450) 720 - - Newbuilding interest - 18 293 - - 18 293 Remeasured leases - - - 37 134 37 134 Disposals (187 055) (382) (928) (137 591) (325 956)Cost at 31.12 2 483 703 229 374 26 362 223 003 2 962 441 Accumulated depreciation and impairment at 01.01 (1 084 568) - (11 858) (170 703) (1 267 130)Depreciation (89 081) - (2 971) (39 869) (131 922)Disposals 120 010 - 840 57 648 178 498 Accumulated depreciation and impairment at 31.12 (1 053 639) - (13 990) (152 924) (1 220 553)Net carrying amount at 31.12 1 430 064 229 374 12 372 70 079 1 741 888 Book value sold assets 67 044 382 88 - 67 514 Sales price 119 738 - 102 - 119 840 Gain / (loss) 52 693 (382) 14 - 52 326 * Newbuildings & Projects include instalments related to the Aurora newbuilding program.The vessels H\u00f6egh Jacksonville and H\u00f6egh Jeddah were purchased during 2024, reflected above as disposal of right-of-use asset, and addition to vessels.H\u00f6egh Aurora, H\u00f6egh Borealis, H\u00f6egh Australis and H\u00f6egh Sunlight were delivered from the yard in 2024, and have been transferred from newbuildings to vessels. The vessels H\u00f6egh Kobe and H\u00f6egh Chiba have been sold during 2024. Of total additions of USD 507 million, USD 11 million relates to right-of-use assets and is non-cash, and USD 80 million relates to purchase options for leased vessels and is presented as payment of lease liabilities in the statement of cash flows.AdditionsOut of total additions to vessels of USD 372 million (USD 554 million in 2024), USD 29 million (USD 25 million in 2024) is related to capitalised drydocking costs. The purchase of the vessel H\u00f6egh Copenhagen amounts to USD 36.5 million, reflected above as a reclassification of the net book value for the right-of-use asset of USD 26.6 million, to owned vessels.DisposalsTwo vessels were disposed of in 2025 (two in 2024), H\u00f6egh New York and H\u00f6egh Beijing.Assets held for saleNo vessel has been classified as held for sale at 31 December 2024 and 31 December 2025.Depreciation The residual value and useful lifetime of the fleet is evaluated yearly. No change has been made to the residual values during 2025.Charter OutPer year-end 2025 the Group has none of its vessels chartered out (none in 2024).The Group is expecting to receive no charter hire income in the years 2026-2030.Charter InPer year-end 2025 the Group has one vessel chartered in on a long term time charter contract (three in 2024). Leased vessels are from 2019 recognised according to IFRS 16 Leases, see note 8 for further information on right-of-use assets.Impairment / Reversal of impairmentFleetAll Ro-Ro vessels in the Group operate in one cash generating unit with the purpose of maximising profit as a total. The impairment assessment is therefore based on the value in use principle for all the vessels in operation, and not vessel-by-vessel. The pool (cash generating unit) includes leased vessels and hence the impairment assessment also apply to these. See Note 8 for further details on right-of-use assets.The market values for vessels have decreased during 2025, compared to 2024, but the market values are still 28% higher than the booked values at year-end 2025. The freight rates and volumes are expected to decrease over the next few years, however, the macroeconomic indicators are slightly better going into 2026, and there are still strong volumes from Far East.The continuing strong market values of the vessels in 2025 support the assessment that no impairment indicators exist at year-end 2025.Right-of-use assets For further information on right-of-use assets, see Note 8 Leases and Note 15 for liquidity analysis.NewbuildingsIn January 2022, the Group signed a contract with China Merchants Heavy Industry for four fixed and eight optional multi-fuel and zero carbon ready Aurora class vessels. In April 2022, a contract for further four vessels was signed. In July 2023, the Group exercised the option to build another four Aurora class vessels. This brings the number of total vessels under the newbuilding program to twelve (12) vessels. The contract for twelve fixed vessels has a total value of USD 1.2 billion, of which USD 943 million is financed by loans and leases and the remaining USD 284 million from equity. As of 31 December 2025 a total of USD 262 million has been paid of the equity part. Four vessels were delivered from the yard during 2024, and three more vessels were delivered during 2025. One vessel was delivered early 2026, and the remaining four vessels will be delivered in 2027 and 2028.EquipmentEquipment consists of vessel equipment, cars, office furniture and IT equipment.",
"dimensions": {
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"language": "en",
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"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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},
"f0__s7__6__49": {
"value": "Note 7 \u2014 Vessels, newbuildings, equipment and right-of-use assetsACCOUNTING POLICIES Vessels, newbuildings and equipmentFixed assets are recorded at cost less accumulated depreciation and impairments. For newbuilding contracts, the cost price includes all the costs incurred in the development and construction process, including borrowing costs, construction supervision costs and technical costs. For vessels that have been purchased in the second-hand market, the cost price includes expenses directly related to the acquisition. When assets are sold or disposed of, the gross carrying amount and accumulated depreciation are reversed, and any gain or loss on the sale or disposal is included in the statement of comprehensive income.Vessels The depreciation is calculated on a straight-line basis and adjusted for impairment if applicable. The RoRo vessels have an expected useful life of 30 years. Vessels are depreciated to estimated scrap value. Expected economic life and estimated scrap values of the vessels are reviewed and evaluated at each balance sheet date. If new evaluations materially differ from earlier estimates the depreciation is changed accordingly.Ordinary repairs and maintenance costs are expensed as incurred. Docking cost/classification costs are capitalised and amortised over the period until the next anticipated docking/inspection. Costs that do not meet the capitalisation criteria are expensed as repairs and maintenance costs.Newbuildings Instalments on newbuilding contracts are capitalised as \u201cNewbuild-ings\u201d when they are paid. Upon delivery, newbuildings are reclassi-fied to vessels and are subject to depreciation.The acquisition cost includes direct investments, cost incurred during the construction period and borrowing cost. Borrowing costs are capitalised during the construction period.Assets held for saleAssets are held for sale when their carrying amount is to be recov-ered principally through a sale transaction and a sale is considered highly probable. They are stated at the lower of carrying amount and their fair value less cost of sale. Property, plant and equipment and intangible assets are not depreciated or amortised once classified as held for sale.EquipmentDepreciation is calculated on a straight-line basis with the following estimated useful life:- Vessel equipment 10 years- Office equipment 3-5 years- Vehicles 5 years- IT-system 10-15 yearsImpairment of non-financial assetsThe carrying amount of tangible assets is tested for impairment whenever there are indications that the value of these assets may have been impaired. If the carrying amount of an asset is higher than the recoverable amount, an impairment loss will be recog-nised in the statement of comprehensive income. The recoverable amount of an asset or a cash-generating unit is the higher of its fair value less cost to sell and its value-in-use. The recoverable amount is determined separately for all assets, but if not possible, this will be determined together with the cash-generating unit to which the asset belongs. All vessels participating in the Group\u2019s RoRo operations are considered part of a single cash-generating unit as this is the smallest strategically identifiable group of assets.Impairment losses recognised in prior periods are reversed when indications of impairment no longer exist or have decreased. A loss is only reversed to the extent that the asset\u2019s carrying amount does not exceed the carrying value recognised if no impairment charges had been recognised in prior periods and normal depreciation and amortisation policies had been applied.NewbuildingRight-of-use2025 (USD 1 000)Vessels& Projects * EquipmentAssets TotalCost at 01.01 2 483 703 229 374 26 362 223 003 2 962 441 Additions 15 971 265 977 817 1 361 284 126 Transfer from newbuilding and projects 356 285 (359 872) 3 587 - - Newbuilding interest - 10 353 - - 10 353 Remeasured leases - - - (4 255) (4 255)Reclassification 50 882 - - (50 882) -Disposals (95 751) (1 037) (137) (93 846) (190 772)Cost at 31.12 2 811 089 144 795 30 628 75 381 3 061 894 Accumulated depreciation and impairment at 01.01 (1 053 639) - (13 990) (152 924) (1 220 553) Depreciation (103 993) - (3 139) (23 604) (130 736) Reclassification (24 278) - - 24 278 - Disposals 54 427 - 128 93 846 148 402 Accumulated depreciation and impairment at 31.12 (1 127 483) - (17 000) (58 405) (1 202 888)Net carrying amount at 31.12 1 683 606 144 795 13 628 16 977 1 859 006 Book value sold assets 41 324 1 037 9 - 42 370 Sales price 103 040 - 14 - 103 054 Gain / (loss) 61 716 (1 037) 5 - 60 684 * Newbuildings & Projects include instalments related to the Aurora newbuilding program.The vessels H\u00f6egh New York and H\u00f6egh Beijing have been sold during the year. The purchase option for the leased vessel H\u00f6egh Copenhagen was declared in Q1 2025, and she was purchased in Q3 2025 and reclassified from right-of-use assets to vessels. Three Aurora Class newbuildings have been delivered duringthe year, H\u00f6egh Sunrise, H\u00f6egh Moonlight, and H\u00f6egh Starlight. Of the total additions of USD 284 million, USD 1 million relates to right-of-use assets and is non-cash.NewbuildingRight-of-use2024 (USD 1 000)Vessels& Projects * EquipmentAssets TotalCost at 01.01 2 117 067 269 853 25 771 312 919 2 725 610 Additions 90 960 405 060 799 10 542 507 361 Transfer from newbuilding and projects 462 730 (463 450) 720 - - Newbuilding interest - 18 293 - - 18 293 Remeasured leases - - - 37 134 37 134 Disposals (187 055) (382) (928) (137 591) (325 956)Cost at 31.12 2 483 703 229 374 26 362 223 003 2 962 441 Accumulated depreciation and impairment at 01.01 (1 084 568) - (11 858) (170 703) (1 267 130)Depreciation (89 081) - (2 971) (39 869) (131 922)Disposals 120 010 - 840 57 648 178 498 Accumulated depreciation and impairment at 31.12 (1 053 639) - (13 990) (152 924) (1 220 553)Net carrying amount at 31.12 1 430 064 229 374 12 372 70 079 1 741 888 Book value sold assets 67 044 382 88 - 67 514 Sales price 119 738 - 102 - 119 840 Gain / (loss) 52 693 (382) 14 - 52 326 * Newbuildings & Projects include instalments related to the Aurora newbuilding program.The vessels H\u00f6egh Jacksonville and H\u00f6egh Jeddah were purchased during 2024, reflected above as disposal of right-of-use asset, and addition to vessels.H\u00f6egh Aurora, H\u00f6egh Borealis, H\u00f6egh Australis and H\u00f6egh Sunlight were delivered from the yard in 2024, and have been transferred from newbuildings to vessels. The vessels H\u00f6egh Kobe and H\u00f6egh Chiba have been sold during 2024. Of total additions of USD 507 million, USD 11 million relates to right-of-use assets and is non-cash, and USD 80 million relates to purchase options for leased vessels and is presented as payment of lease liabilities in the statement of cash flows.AdditionsOut of total additions to vessels of USD 372 million (USD 554 million in 2024), USD 29 million (USD 25 million in 2024) is related to capitalised drydocking costs. The purchase of the vessel H\u00f6egh Copenhagen amounts to USD 36.5 million, reflected above as a reclassification of the net book value for the right-of-use asset of USD 26.6 million, to owned vessels.DisposalsTwo vessels were disposed of in 2025 (two in 2024), H\u00f6egh New York and H\u00f6egh Beijing.Assets held for saleNo vessel has been classified as held for sale at 31 December 2024 and 31 December 2025.Depreciation The residual value and useful lifetime of the fleet is evaluated yearly. No change has been made to the residual values during 2025.Charter OutPer year-end 2025 the Group has none of its vessels chartered out (none in 2024).The Group is expecting to receive no charter hire income in the years 2026-2030.Charter InPer year-end 2025 the Group has one vessel chartered in on a long term time charter contract (three in 2024). Leased vessels are from 2019 recognised according to IFRS 16 Leases, see note 8 for further information on right-of-use assets.Impairment / Reversal of impairmentFleetAll Ro-Ro vessels in the Group operate in one cash generating unit with the purpose of maximising profit as a total. The impairment assessment is therefore based on the value in use principle for all the vessels in operation, and not vessel-by-vessel. The pool (cash generating unit) includes leased vessels and hence the impairment assessment also apply to these. See Note 8 for further details on right-of-use assets.The market values for vessels have decreased during 2025, compared to 2024, but the market values are still 28% higher than the booked values at year-end 2025. The freight rates and volumes are expected to decrease over the next few years, however, the macroeconomic indicators are slightly better going into 2026, and there are still strong volumes from Far East.The continuing strong market values of the vessels in 2025 support the assessment that no impairment indicators exist at year-end 2025.Right-of-use assets For further information on right-of-use assets, see Note 8 Leases and Note 15 for liquidity analysis.NewbuildingsIn January 2022, the Group signed a contract with China Merchants Heavy Industry for four fixed and eight optional multi-fuel and zero carbon ready Aurora class vessels. In April 2022, a contract for further four vessels was signed. In July 2023, the Group exercised the option to build another four Aurora class vessels. This brings the number of total vessels under the newbuilding program to twelve (12) vessels. The contract for twelve fixed vessels has a total value of USD 1.2 billion, of which USD 943 million is financed by loans and leases and the remaining USD 284 million from equity. As of 31 December 2025 a total of USD 262 million has been paid of the equity part. Four vessels were delivered from the yard during 2024, and three more vessels were delivered during 2025. One vessel was delivered early 2026, and the remaining four vessels will be delivered in 2027 and 2028.EquipmentEquipment consists of vessel equipment, cars, office furniture and IT equipment.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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"f0__s7__6__59": {
"value": "Accounting policiesLeasesA lease is defined as a contract that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. For all leases where the Group is a lessee, a right-of-use asset and lease liability is recognised in the balance sheet at the date at which the leased asset is available for use by the Group. The lease liability is measured as the present value of future lease payments, including extension options considered reasonably certain to be exercised. When deciding on whether the Group is reasonably certain to exercise options, all facts and circumstances are taken into consideration. Extension and termination options are included in a number of vessels, property and equipment leases across the Group. These are used to maximise operational flexibility in terms of managing the assets used in the Group\u2019s operations. The majority of the options are held only by the Group and not by the lessor. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is generally the case for all leases in the Group, the Group\u2019s incremental borrowing rate is used. A corresponding right-of-use asset is recognised including lease payments and any direct costs incurred at the commencement date. Lease payments are reflected as interest expense and a reduction in lease liabilities. The right-of-use assets are depreciated over the shorter of each contract\u2019s term and the assets\u2019 useful life.Only short-term leases (lease term of 12 months or less and do not include a purchase option) and leases of low value assets are exempted from recognition. Low value assets comprise smaller IT and office equipment. Lease payments on short-term leases and leases of low value assets are recognised as expense on a straight-line basis over the lease term.Contracts may contain both lease and non-lease components. However, for non-lease components that are not specified in the lease contract, the Group has elected not to separate lease and non-lease components and instead accounts for these as a single lease component. This applies for time charter leases where the lease payment includes running expenses which are not specified. All other non-lease components are accounted for separately.A sub-lease agreement is evaluated with reference to the right-of-use asset in the head lease.Right-of-use assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.",
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"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
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"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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"f0__s7__6__57": {
"value": "Note 8 \u2014 LeasesAccounting policiesLeasesA lease is defined as a contract that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. For all leases where the Group is a lessee, a right-of-use asset and lease liability is recognised in the balance sheet at the date at which the leased asset is available for use by the Group. The lease liability is measured as the present value of future lease payments, including extension options considered reasonably certain to be exercised. When deciding on whether the Group is reasonably certain to exercise options, all facts and circumstances are taken into consideration. Extension and termination options are included in a number of vessels, property and equipment leases across the Group. These are used to maximise operational flexibility in terms of managing the assets used in the Group\u2019s operations. The majority of the options are held only by the Group and not by the lessor. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is generally the case for all leases in the Group, the Group\u2019s incremental borrowing rate is used. A corresponding right-of-use asset is recognised including lease payments and any direct costs incurred at the commencement date. Lease payments are reflected as interest expense and a reduction in lease liabilities. The right-of-use assets are depreciated over the shorter of each contract\u2019s term and the assets\u2019 useful life.Only short-term leases (lease term of 12 months or less and do not include a purchase option) and leases of low value assets are exempted from recognition. Low value assets comprise smaller IT and office equipment. Lease payments on short-term leases and leases of low value assets are recognised as expense on a straight-line basis over the lease term.Contracts may contain both lease and non-lease components. However, for non-lease components that are not specified in the lease contract, the Group has elected not to separate lease and non-lease components and instead accounts for these as a single lease component. This applies for time charter leases where the lease payment includes running expenses which are not specified. All other non-lease components are accounted for separately.A sub-lease agreement is evaluated with reference to the right-of-use asset in the head lease.Right-of-use assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.The Group leases offices, vessels and different machinery. The office leases typically run for 5-10 years, most of them without any options to extend. Some leases are adjusted based on consumer price indexes annually. Leased machinery is roll trailers used for loading and discharging of cargo, and typically run for 3-5 years with no extension options. The Group leases IT and office equipment with contract terms of one to three years. These leases are short-term and/or leases of low value items. The Group has elected not to recognise right-of-use assets and lease liabilities for these leases.For information on leases where the Group is a lessor, see Charter out section in Note 7.Amounts recognised in the balance sheetThe balance sheet shows the following amounts related to leases:Right-of-use assets (USD 1 000)31.12.2025 31.12.2024Premises 14 875 15 934 Vessels 105 49 254 Machinery 1 997 4 891 Total 16 977 70 079 Lease liabilities (USD 1 000)31.12.2025 31.12.2024Non-current 11 732 54 692 Current 4 594 26 137 Total 16 326 80 829 The additions to the right-of-use assets in 2025 were USD 1.4 million (2024: USD 10.5 million), mainly related to new office leases. Remeasurements of existing leases decreased the right-of-use assets by USD 4 million (2024: increase of USD 37 million), mainly related to the exercise of the purchase option for H\u00f6egh Copenhagen, which was purchased during 2025 (2024: two leased vessels purchased). There were no other disposals of right-of-use assets in 2025, apart from expired leases related to vessels, offices, and machinery. At 31.12.2025 the right-of-use assets for vessels consist of one vessel lease expiring early 2026. This lease has since been modified with a one year extension.Amounts recognised in profit / (loss) (USD 1 000)2025 2024Depreciation charges for right-of-use assets:- Premises 2 484 3 086 - Vessels 18 226 33 271 - Machinery 2 894 3 464 - Other - 48 Total depreciation charges for right-of-use assets 23 604 39 869 Interest on lease liabilities 3 674 10 874 Expenses relating to short-term leases 81 996 7 218 Expenses relating to leases of low-value 98 80 The total cash outflow for leases in 2025 was USD 66.3 million, including USD 4 million in interest (2024: USD 141.7 million, including USD 11 million in interest), and includes the purchase price for the one leased vessels purchased in 2025 (two leased vessels purchased in 2024).See Note 15 for reconciliation of liabilities arising from financial activities.The lease agreements do not impose any covenants. Right-of-use assets may not be used as security for borrowing purposes.The Group can not draw any debt on right-of-use assets. At year-end 2025, The Group has no exposure to variable lease payments. The potential future lease payments should the Group exerciseextension options, would increase the lease liabilities with USD 4 million (2024: USD 3 million). The Group has not provided any residual value guarantees related to its lease agreements.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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},
"f0__s7__6__62": {
"value": "Note 9 \u2014 Interest income and expenses Interest income (USD 1 000)2025 2024Interest income from banks 7 699 16 028 Other interest income 92 20 Total 7 791 16 048 Interest expense (USD 1 000)2025 2024Interest mortgage debt 41 295 32 868 Capitalised interest on newbuildings (10 353) (18 293)Interest on lease liabilities* 3 674 10 874 Interest on other interest bearing debt 8 292 1 205Other interest expenses 63 96 Total 42 972 26 750 * For further details on interest on lease liabilities, see Note 8.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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"f0__s7__6__61": {
"value": "Note 9 \u2014 Interest income and expenses Interest income (USD 1 000)2025 2024Interest income from banks 7 699 16 028 Other interest income 92 20 Total 7 791 16 048 Interest expense (USD 1 000)2025 2024Interest mortgage debt 41 295 32 868 Capitalised interest on newbuildings (10 353) (18 293)Interest on lease liabilities* 3 674 10 874 Interest on other interest bearing debt 8 292 1 205Other interest expenses 63 96 Total 42 972 26 750 * For further details on interest on lease liabilities, see Note 8.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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"f0__s7__6__60": {
"value": "Note 9 \u2014 Interest income and expenses Interest income (USD 1 000)2025 2024Interest income from banks 7 699 16 028 Other interest income 92 20 Total 7 791 16 048 Interest expense (USD 1 000)2025 2024Interest mortgage debt 41 295 32 868 Capitalised interest on newbuildings (10 353) (18 293)Interest on lease liabilities* 3 674 10 874 Interest on other interest bearing debt 8 292 1 205Other interest expenses 63 96 Total 42 972 26 750 * For further details on interest on lease liabilities, see Note 8.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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"f0__s7__6__64": {
"value": "Income from other financial items (USD 1 000)2025 2024Gain on currency exchange 1 034 - Dividend 889 - Other financial items 490 611 Total 2 413 611",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__65": {
"value": "Expenses from other financial items (USD 1 000)2025 2024Loss on currency exchange - 3 769 Debt modification loss* - 11 029 Other financial items** 1 981 4 677 Total 1 981 19 474",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__63": {
"value": "Note 10 \u2014 Other financial itemsIncome from other financial items (USD 1 000)2025 2024Gain on currency exchange 1 034 - Dividend 889 - Other financial items 490 611 Total 2 413 611Expenses from other financial items (USD 1 000)2025 2024Loss on currency exchange - 3 769 Debt modification loss* - 11 029 Other financial items** 1 981 4 677 Total 1 981 19 474 * The debt modification loss for 2024 is related to the refinancing in March 2024, where the modifications to the debt were accounted for as an adjustment to the existing liability. The liability was restated to the net present value of the revised cashflows discounted at the original effective interest rate. See note 18. ** Expenses from other financial items for 2025 consist mainly of commit-ment fees. Expenses from other financial items for 2024 consist mainly of arrangement fees, commitment fees, and amortisation of debt modification gain from 2022.",
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"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
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"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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"f0__s7__6__68": {
"value": "Note 11 \u2014 TaxAccounting policies Income tax The current tax charge is calculated on the basis of the tax laws enacted at the balance sheet date in the countries where the Group operates and generates taxable income. Taxes payable with long-term maturity are recognised at present value. The tax expense consists of taxes payable and changes in deferred tax. Tax assets and liabilities for the current and prior periods are calcu-lated to the amount expected to be reimbursed from or paid to the tax authorities. Tax rates and tax laws used to compute the amount are those that are approved at the balance sheet date. Deferred tax is calculated on temporary differences between tax and accounting values of assets and liabilities that exist at the balance sheet date. Deferred taxes are recognised using the liability method in accordance with IAS 12. Deferred tax assets are recognised for all deductible temporary differences, unused tax credits carried forward and unused tax losses carried forward to the extent it is probable that future taxable profits may be used against deductible temporary differences and unused tax losses carried forward. Deferred tax assets and deferred tax liabilities are offset, if the entity has a legal enforceable right to offset against the carrying amounts, and the deferred tax is related to the same taxable unit and the same tax jurisdiction. Current tonnage tax scheme H\u00f6egh Autoliners Shipping AS, H\u00f6egh Autoliners Shipping II AS, H\u00f6egh Autoliners Shipping 269-3 AS, H\u00f6egh Autoliners Shipping 269-4 AS, H\u00f6egh Autoliners 269-7 AS, H\u00f6egh Autoliners Shipping 269-8 AS, H\u00f6egh Autoliners Shipping 269-9 AS, H\u00f6egh Autoliners Shipping 269-10 AS, H\u00f6egh Autoliners Shipping 269-11 AS and H\u00f6egh Autoliners Shipping 269-12 AS, are all subject to the Norwegian tonnage tax scheme. The scheme is approved by the ESA (EFTA Surveillance Authority). According to the system, net operating revenue derived from the shipping industry will not be taxed and can be distributed without taxation. Instead of paying tax on income derived from the shipping operations, companies within this system have to pay a tonnage fee based on the size of the vessels. The fee is recognised as an operating expense. H\u00f6egh Autoliners Shipping Pte Ltd is taxed under a tonnage tax scheme in Singapore where shipping-related earnings are tax-free.Financial income is taxed according to the ordinary Norwegian tax scheme; however, it is only a portion of interest expenses and net currency gain/ loss that gives the right to tax deductions. Dividends and capital gains are taxed according to the Norwegian exemption model. Pillar Two rules The Group is in the scope of the OECD Pillar Two model rules. The Group applies the mandatory relief from recognizing deferred tax related to Pillar Two income taxes. Ordinary taxationAll the Norwegian companies within the Group, with the exception of the shipowning entities, are subject to 22 % Norwegian company tax. From 1 January 2026 the corporate tax rate remains at 22%Tonnage tax payableTonnage tax is assessed and paid according to net tonnage operated during the year. Current year\u2019s tonnage tax is assessed at USD 0.5 million (USD 0.4 million in 2024) and is classified under other operating expenses.Income tax for the year (USD 1 000)2025 2024Current tax (959) (4 864)Tax in subsidiaries outside Norway (899) (1 141)Change in deferred tax (821) 40 284 Currency effect on deferred tax and adjustments previous periods 569 1 301 Tax (expense) / income (2 111) 35 580 Reconciliation of actual tax expense against expected tax expense in accordance with the ordinary Norwegian income tax rate of 22% 2025 2024Profit before tax 515 590 583 929 Estimated tax at 22% income tax rate (113 430) (128 464)Tax effect of non taxable income within the tonnage tax scheme in Norway and Singapore 144 218 135 826 Other tax payable (64) (1 092)Permanent differences / deferred tax assets not recognised (32 835) 29 310 Tax (expense) / income (2 111) 35 580 Effective tax rate for the Group 0 % -6 %Income tax payable (USD 1 000)2025 2024Tonnage tax 466 361 Current tax for the year 970 4 412 Tax payable (maturity within 1 year) 1 436 4 773 Note 11 \u2014 Tax cont.Deferred tax assets (liabilities) (USD 1 000)2025 2024Fixed assets 114 (24)Non-current debt / receivables 3 885 4 440 Pension liabilities * 215 168 Deferred tax assets (liabilities) 4 214 4 584 Deferred tax assets subsidiaries outside Norway 1 004 832 Total 5 218 5 417 *For further information see Note 5.2025 2024Deferred tax assets / (liabilities) at 01.01. 5 417 (36 189)Charged to the income statement (252) 41 585 Charged to other comprehensive income 54 21 Deferred tax assets at 31.12. 5 218 5 417 Deferred tax assets / (tax) within the tonnage tax scheme (USD 1 000)2025 2024Non-current debt / receivables (995) 1 596 Loss carried forward 70 190 62 738 Deferred tax assets not recognised (69 195) (64 334)Deferred tax assets / (liabilities) - - Loss carried forward within the tonnage tax scheme is not recog-nised because there are uncertainties related to the Company\u2019s ability to utilise these losses carried forward. There is no time restriction for the utilisation of the losses carried forward.Global Minimum Taxation (OECD Pillar Two)In an effort to end tax avoidance and to address concerns about the erosion of the global corporate tax base, a global framework for corporate taxation has been formed by the OECD/G20 Inclu-sive Framework. One of the key elements is to introduce a global minimum tax rate of 15%, based on group accounting income per jurisdiction to ensure that profits of multinational groups are taxed at least at an effective rate of 15% in each country. Pillar Two legislation has been enacted or substantively enacted in certain jurisdictions where H\u00f6egh Autoliners operates. The legislation is effective for H\u00f6egh Autoliners from 1 January 2024.H\u00f6egh Autoliners has performed an assessment of the potential exposure to Pillar Two income taxes. The Group does not expect the Pillar Two legislation to result in a tax payable in any jurisdiction for the Fiscal Year 2025, which in turn does not necessitate a provision for any such tax on the financial accounts for FY25. Firstly, for income from international maritime shipping, Pillar 2 has exceptions. International Shipping Income and Qualified Ancillary International Shipping Income are excluded when computing the taxable base under Pillar Two. The Group considers their shipping profits to qualify for this exclusion. Profits from maritime shipping, which are taxed in Norway under the tonnage tax regime, therefore remain in principle outside the scope of Pillar 2 and in principle does not expose companies who are 100 percent engaged in maritime transport to additional tax. H\u00f6egh Autoliners group is organised with several shipowning entities, all based in Norway and part of the tonnage tax regime. The Group\u2019s profits are therefore centered in Norway, where the exclusion for shipping income as described above is expected to apply and prevent profits that are subject to a lower tax rate locally to accrue any additional Top-up Tax. In addition to these Norwegian entities, the Group has a worldwide network of subsidiaries. These subsidiaries act on behalf of H\u00f6egh Autoliners and provide agency services such as local port-handling and local booking services for the clients and are acting as representative offices. The revenues for these subsidiaries are based on a remuneration model with a cost-plus method. The Group does therefore not rely on the exclusion for shipping income to shield these subsidiaries abroad from Top-up Tax. However, the rules contain certain so-called Safe Harbour rules that may result in the group being able to set the Top-up Tax to zero for a jurisdiction. One of these, is the Transitional CbCR Safe Harbour which is predominantly based on the Country-by-country report (CbCR) data. The position of the Group is that all of H\u00f6egh Autoliners\u2019 subsidiaries qualify for one or more of the conditions above for 2025.",
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"concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__67": {
"value": "Note 11 \u2014 TaxAccounting policies Income tax The current tax charge is calculated on the basis of the tax laws enacted at the balance sheet date in the countries where the Group operates and generates taxable income. Taxes payable with long-term maturity are recognised at present value. The tax expense consists of taxes payable and changes in deferred tax. Tax assets and liabilities for the current and prior periods are calcu-lated to the amount expected to be reimbursed from or paid to the tax authorities. Tax rates and tax laws used to compute the amount are those that are approved at the balance sheet date. Deferred tax is calculated on temporary differences between tax and accounting values of assets and liabilities that exist at the balance sheet date. Deferred taxes are recognised using the liability method in accordance with IAS 12. Deferred tax assets are recognised for all deductible temporary differences, unused tax credits carried forward and unused tax losses carried forward to the extent it is probable that future taxable profits may be used against deductible temporary differences and unused tax losses carried forward. Deferred tax assets and deferred tax liabilities are offset, if the entity has a legal enforceable right to offset against the carrying amounts, and the deferred tax is related to the same taxable unit and the same tax jurisdiction. Current tonnage tax scheme H\u00f6egh Autoliners Shipping AS, H\u00f6egh Autoliners Shipping II AS, H\u00f6egh Autoliners Shipping 269-3 AS, H\u00f6egh Autoliners Shipping 269-4 AS, H\u00f6egh Autoliners 269-7 AS, H\u00f6egh Autoliners Shipping 269-8 AS, H\u00f6egh Autoliners Shipping 269-9 AS, H\u00f6egh Autoliners Shipping 269-10 AS, H\u00f6egh Autoliners Shipping 269-11 AS and H\u00f6egh Autoliners Shipping 269-12 AS, are all subject to the Norwegian tonnage tax scheme. The scheme is approved by the ESA (EFTA Surveillance Authority). According to the system, net operating revenue derived from the shipping industry will not be taxed and can be distributed without taxation. Instead of paying tax on income derived from the shipping operations, companies within this system have to pay a tonnage fee based on the size of the vessels. The fee is recognised as an operating expense. H\u00f6egh Autoliners Shipping Pte Ltd is taxed under a tonnage tax scheme in Singapore where shipping-related earnings are tax-free.Financial income is taxed according to the ordinary Norwegian tax scheme; however, it is only a portion of interest expenses and net currency gain/ loss that gives the right to tax deductions. Dividends and capital gains are taxed according to the Norwegian exemption model. Pillar Two rules The Group is in the scope of the OECD Pillar Two model rules. The Group applies the mandatory relief from recognizing deferred tax related to Pillar Two income taxes. Ordinary taxationAll the Norwegian companies within the Group, with the exception of the shipowning entities, are subject to 22 % Norwegian company tax. From 1 January 2026 the corporate tax rate remains at 22%Tonnage tax payableTonnage tax is assessed and paid according to net tonnage operated during the year. Current year\u2019s tonnage tax is assessed at USD 0.5 million (USD 0.4 million in 2024) and is classified under other operating expenses.Income tax for the year (USD 1 000)2025 2024Current tax (959) (4 864)Tax in subsidiaries outside Norway (899) (1 141)Change in deferred tax (821) 40 284 Currency effect on deferred tax and adjustments previous periods 569 1 301 Tax (expense) / income (2 111) 35 580 Reconciliation of actual tax expense against expected tax expense in accordance with the ordinary Norwegian income tax rate of 22% 2025 2024Profit before tax 515 590 583 929 Estimated tax at 22% income tax rate (113 430) (128 464)Tax effect of non taxable income within the tonnage tax scheme in Norway and Singapore 144 218 135 826 Other tax payable (64) (1 092)Permanent differences / deferred tax assets not recognised (32 835) 29 310 Tax (expense) / income (2 111) 35 580 Effective tax rate for the Group 0 % -6 %Income tax payable (USD 1 000)2025 2024Tonnage tax 466 361 Current tax for the year 970 4 412 Tax payable (maturity within 1 year) 1 436 4 773 Note 11 \u2014 Tax cont.Deferred tax assets (liabilities) (USD 1 000)2025 2024Fixed assets 114 (24)Non-current debt / receivables 3 885 4 440 Pension liabilities * 215 168 Deferred tax assets (liabilities) 4 214 4 584 Deferred tax assets subsidiaries outside Norway 1 004 832 Total 5 218 5 417 *For further information see Note 5.2025 2024Deferred tax assets / (liabilities) at 01.01. 5 417 (36 189)Charged to the income statement (252) 41 585 Charged to other comprehensive income 54 21 Deferred tax assets at 31.12. 5 218 5 417 Deferred tax assets / (tax) within the tonnage tax scheme (USD 1 000)2025 2024Non-current debt / receivables (995) 1 596 Loss carried forward 70 190 62 738 Deferred tax assets not recognised (69 195) (64 334)Deferred tax assets / (liabilities) - - Loss carried forward within the tonnage tax scheme is not recog-nised because there are uncertainties related to the Company\u2019s ability to utilise these losses carried forward. There is no time restriction for the utilisation of the losses carried forward.Global Minimum Taxation (OECD Pillar Two)In an effort to end tax avoidance and to address concerns about the erosion of the global corporate tax base, a global framework for corporate taxation has been formed by the OECD/G20 Inclu-sive Framework. One of the key elements is to introduce a global minimum tax rate of 15%, based on group accounting income per jurisdiction to ensure that profits of multinational groups are taxed at least at an effective rate of 15% in each country. Pillar Two legislation has been enacted or substantively enacted in certain jurisdictions where H\u00f6egh Autoliners operates. The legislation is effective for H\u00f6egh Autoliners from 1 January 2024.H\u00f6egh Autoliners has performed an assessment of the potential exposure to Pillar Two income taxes. The Group does not expect the Pillar Two legislation to result in a tax payable in any jurisdiction for the Fiscal Year 2025, which in turn does not necessitate a provision for any such tax on the financial accounts for FY25. Firstly, for income from international maritime shipping, Pillar 2 has exceptions. International Shipping Income and Qualified Ancillary International Shipping Income are excluded when computing the taxable base under Pillar Two. The Group considers their shipping profits to qualify for this exclusion. Profits from maritime shipping, which are taxed in Norway under the tonnage tax regime, therefore remain in principle outside the scope of Pillar 2 and in principle does not expose companies who are 100 percent engaged in maritime transport to additional tax. H\u00f6egh Autoliners group is organised with several shipowning entities, all based in Norway and part of the tonnage tax regime. The Group\u2019s profits are therefore centered in Norway, where the exclusion for shipping income as described above is expected to apply and prevent profits that are subject to a lower tax rate locally to accrue any additional Top-up Tax. In addition to these Norwegian entities, the Group has a worldwide network of subsidiaries. These subsidiaries act on behalf of H\u00f6egh Autoliners and provide agency services such as local port-handling and local booking services for the clients and are acting as representative offices. The revenues for these subsidiaries are based on a remuneration model with a cost-plus method. The Group does therefore not rely on the exclusion for shipping income to shield these subsidiaries abroad from Top-up Tax. However, the rules contain certain so-called Safe Harbour rules that may result in the group being able to set the Top-up Tax to zero for a jurisdiction. One of these, is the Transitional CbCR Safe Harbour which is predominantly based on the Country-by-country report (CbCR) data. The position of the Group is that all of H\u00f6egh Autoliners\u2019 subsidiaries qualify for one or more of the conditions above for 2025.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__66": {
"value": "Note 11 \u2014 TaxAccounting policies Income tax The current tax charge is calculated on the basis of the tax laws enacted at the balance sheet date in the countries where the Group operates and generates taxable income. Taxes payable with long-term maturity are recognised at present value. The tax expense consists of taxes payable and changes in deferred tax. Tax assets and liabilities for the current and prior periods are calcu-lated to the amount expected to be reimbursed from or paid to the tax authorities. Tax rates and tax laws used to compute the amount are those that are approved at the balance sheet date. Deferred tax is calculated on temporary differences between tax and accounting values of assets and liabilities that exist at the balance sheet date. Deferred taxes are recognised using the liability method in accordance with IAS 12. Deferred tax assets are recognised for all deductible temporary differences, unused tax credits carried forward and unused tax losses carried forward to the extent it is probable that future taxable profits may be used against deductible temporary differences and unused tax losses carried forward. Deferred tax assets and deferred tax liabilities are offset, if the entity has a legal enforceable right to offset against the carrying amounts, and the deferred tax is related to the same taxable unit and the same tax jurisdiction. Current tonnage tax scheme H\u00f6egh Autoliners Shipping AS, H\u00f6egh Autoliners Shipping II AS, H\u00f6egh Autoliners Shipping 269-3 AS, H\u00f6egh Autoliners Shipping 269-4 AS, H\u00f6egh Autoliners 269-7 AS, H\u00f6egh Autoliners Shipping 269-8 AS, H\u00f6egh Autoliners Shipping 269-9 AS, H\u00f6egh Autoliners Shipping 269-10 AS, H\u00f6egh Autoliners Shipping 269-11 AS and H\u00f6egh Autoliners Shipping 269-12 AS, are all subject to the Norwegian tonnage tax scheme. The scheme is approved by the ESA (EFTA Surveillance Authority). According to the system, net operating revenue derived from the shipping industry will not be taxed and can be distributed without taxation. Instead of paying tax on income derived from the shipping operations, companies within this system have to pay a tonnage fee based on the size of the vessels. The fee is recognised as an operating expense. H\u00f6egh Autoliners Shipping Pte Ltd is taxed under a tonnage tax scheme in Singapore where shipping-related earnings are tax-free.Financial income is taxed according to the ordinary Norwegian tax scheme; however, it is only a portion of interest expenses and net currency gain/ loss that gives the right to tax deductions. Dividends and capital gains are taxed according to the Norwegian exemption model. Pillar Two rules The Group is in the scope of the OECD Pillar Two model rules. The Group applies the mandatory relief from recognizing deferred tax related to Pillar Two income taxes. Ordinary taxationAll the Norwegian companies within the Group, with the exception of the shipowning entities, are subject to 22 % Norwegian company tax. From 1 January 2026 the corporate tax rate remains at 22%Tonnage tax payableTonnage tax is assessed and paid according to net tonnage operated during the year. Current year\u2019s tonnage tax is assessed at USD 0.5 million (USD 0.4 million in 2024) and is classified under other operating expenses.Income tax for the year (USD 1 000)2025 2024Current tax (959) (4 864)Tax in subsidiaries outside Norway (899) (1 141)Change in deferred tax (821) 40 284 Currency effect on deferred tax and adjustments previous periods 569 1 301 Tax (expense) / income (2 111) 35 580 Reconciliation of actual tax expense against expected tax expense in accordance with the ordinary Norwegian income tax rate of 22% 2025 2024Profit before tax 515 590 583 929 Estimated tax at 22% income tax rate (113 430) (128 464)Tax effect of non taxable income within the tonnage tax scheme in Norway and Singapore 144 218 135 826 Other tax payable (64) (1 092)Permanent differences / deferred tax assets not recognised (32 835) 29 310 Tax (expense) / income (2 111) 35 580 Effective tax rate for the Group 0 % -6 %Income tax payable (USD 1 000)2025 2024Tonnage tax 466 361 Current tax for the year 970 4 412 Tax payable (maturity within 1 year) 1 436 4 773 Note 11 \u2014 Tax cont.Deferred tax assets (liabilities) (USD 1 000)2025 2024Fixed assets 114 (24)Non-current debt / receivables 3 885 4 440 Pension liabilities * 215 168 Deferred tax assets (liabilities) 4 214 4 584 Deferred tax assets subsidiaries outside Norway 1 004 832 Total 5 218 5 417 *For further information see Note 5.2025 2024Deferred tax assets / (liabilities) at 01.01. 5 417 (36 189)Charged to the income statement (252) 41 585 Charged to other comprehensive income 54 21 Deferred tax assets at 31.12. 5 218 5 417 Deferred tax assets / (tax) within the tonnage tax scheme (USD 1 000)2025 2024Non-current debt / receivables (995) 1 596 Loss carried forward 70 190 62 738 Deferred tax assets not recognised (69 195) (64 334)Deferred tax assets / (liabilities) - - Loss carried forward within the tonnage tax scheme is not recog-nised because there are uncertainties related to the Company\u2019s ability to utilise these losses carried forward. There is no time restriction for the utilisation of the losses carried forward.Global Minimum Taxation (OECD Pillar Two)In an effort to end tax avoidance and to address concerns about the erosion of the global corporate tax base, a global framework for corporate taxation has been formed by the OECD/G20 Inclu-sive Framework. One of the key elements is to introduce a global minimum tax rate of 15%, based on group accounting income per jurisdiction to ensure that profits of multinational groups are taxed at least at an effective rate of 15% in each country. Pillar Two legislation has been enacted or substantively enacted in certain jurisdictions where H\u00f6egh Autoliners operates. The legislation is effective for H\u00f6egh Autoliners from 1 January 2024.H\u00f6egh Autoliners has performed an assessment of the potential exposure to Pillar Two income taxes. The Group does not expect the Pillar Two legislation to result in a tax payable in any jurisdiction for the Fiscal Year 2025, which in turn does not necessitate a provision for any such tax on the financial accounts for FY25. Firstly, for income from international maritime shipping, Pillar 2 has exceptions. International Shipping Income and Qualified Ancillary International Shipping Income are excluded when computing the taxable base under Pillar Two. The Group considers their shipping profits to qualify for this exclusion. Profits from maritime shipping, which are taxed in Norway under the tonnage tax regime, therefore remain in principle outside the scope of Pillar 2 and in principle does not expose companies who are 100 percent engaged in maritime transport to additional tax. H\u00f6egh Autoliners group is organised with several shipowning entities, all based in Norway and part of the tonnage tax regime. The Group\u2019s profits are therefore centered in Norway, where the exclusion for shipping income as described above is expected to apply and prevent profits that are subject to a lower tax rate locally to accrue any additional Top-up Tax. In addition to these Norwegian entities, the Group has a worldwide network of subsidiaries. These subsidiaries act on behalf of H\u00f6egh Autoliners and provide agency services such as local port-handling and local booking services for the clients and are acting as representative offices. The revenues for these subsidiaries are based on a remuneration model with a cost-plus method. The Group does therefore not rely on the exclusion for shipping income to shield these subsidiaries abroad from Top-up Tax. However, the rules contain certain so-called Safe Harbour rules that may result in the group being able to set the Top-up Tax to zero for a jurisdiction. One of these, is the Transitional CbCR Safe Harbour which is predominantly based on the Country-by-country report (CbCR) data. The position of the Group is that all of H\u00f6egh Autoliners\u2019 subsidiaries qualify for one or more of the conditions above for 2025.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__71": {
"value": "Accounting policies Income tax The current tax charge is calculated on the basis of the tax laws enacted at the balance sheet date in the countries where the Group operates and generates taxable income. Taxes payable with long-term maturity are recognised at present value. The tax expense consists of taxes payable and changes in deferred tax. Tax assets and liabilities for the current and prior periods are calcu-lated to the amount expected to be reimbursed from or paid to the tax authorities. Tax rates and tax laws used to compute the amount are those that are approved at the balance sheet date. Deferred tax is calculated on temporary differences between tax and accounting values of assets and liabilities that exist at the balance sheet date. Deferred taxes are recognised using the liability method in accordance with IAS 12. Deferred tax assets are recognised for all deductible temporary differences, unused tax credits carried forward and unused tax losses carried forward to the extent it is probable that future taxable profits may be used against deductible temporary differences and unused tax losses carried forward. Deferred tax assets and deferred tax liabilities are offset, if the entity has a legal enforceable right to offset against the carrying amounts, and the deferred tax is related to the same taxable unit and the same tax jurisdiction.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__70": {
"value": "Accounting policies Income tax The current tax charge is calculated on the basis of the tax laws enacted at the balance sheet date in the countries where the Group operates and generates taxable income. Taxes payable with long-term maturity are recognised at present value. The tax expense consists of taxes payable and changes in deferred tax. Tax assets and liabilities for the current and prior periods are calcu-lated to the amount expected to be reimbursed from or paid to the tax authorities. Tax rates and tax laws used to compute the amount are those that are approved at the balance sheet date. Deferred tax is calculated on temporary differences between tax and accounting values of assets and liabilities that exist at the balance sheet date. Deferred taxes are recognised using the liability method in accordance with IAS 12. Deferred tax assets are recognised for all deductible temporary differences, unused tax credits carried forward and unused tax losses carried forward to the extent it is probable that future taxable profits may be used against deductible temporary differences and unused tax losses carried forward. Deferred tax assets and deferred tax liabilities are offset, if the entity has a legal enforceable right to offset against the carrying amounts, and the deferred tax is related to the same taxable unit and the same tax jurisdiction.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__72": {
"value": "Tonnage tax payableTonnage tax is assessed and paid according to net tonnage operated during the year. Current year\u2019s tonnage tax is assessed at USD 0.5 million (USD 0.4 million in 2024) and is classified under other operating expenses.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__74": {
"value": "Note 12 \u2014 Other non-current financial assets Other non-current financial assets (USD 1 000)2025 2024Pension plan assets 235 152 Investments in other companies 882 845 Other non-current financial assets 117 104 Total 1 234 1 101 Pension plan assetsThe pension plan assets relate to the defined benefit plans in China and Philippines. Investments in other companiesShares in other companies are measured at fair value through other comprehensive income. Other non-current assets (USD 1 000)2025 2024Rental deposits 888 773 Other 3 3 Total 891 777",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__73": {
"value": "Note 12 \u2014 Other non-current financial assets Other non-current financial assets (USD 1 000)2025 2024Pension plan assets 235 152 Investments in other companies 882 845 Other non-current financial assets 117 104 Total 1 234 1 101 Pension plan assetsThe pension plan assets relate to the defined benefit plans in China and Philippines. Investments in other companiesShares in other companies are measured at fair value through other comprehensive income. Other non-current assets (USD 1 000)2025 2024Rental deposits 888 773 Other 3 3 Total 891 777",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__76": {
"value": "Note 13 \u2014 Trade, other receivables and prepaymentsTrade and other receivables (USD 1 000)Note 31.12.2025 31.12.2024Freight receivables 98 884 83 070Provision for impairment on trade receivables (120) (86)Net freight receivables 2 98 764 82 985Agents (678) (695)Other trade receivables 3 317 2 094 Tax and public duties 1 991 1 814 Unsettled claims 214 5 215 Other receivables 5 478 2 676 Total 109 087 94 088 For accounting policy related to provision for impairment on trade receivables, see note 15.Total outstanding (USD 1 000)31.12.2025 31.12.2024Not due 67 119 57 801 1 -15 14 068 14 785 16-30 7 131 1 349 31-60 7 226 6 004 61- 3 339 3 132 Total 98 884 83 070 Prepayments (USD 1 000)31.12.2025 31.12.2024Prepayments administration 3 046 2 498 Other prepayments 4 563 2 337 Total 7 610 4 835",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__75": {
"value": "Note 13 \u2014 Trade, other receivables and prepaymentsTrade and other receivables (USD 1 000)Note 31.12.2025 31.12.2024Freight receivables 98 884 83 070Provision for impairment on trade receivables (120) (86)Net freight receivables 2 98 764 82 985Agents (678) (695)Other trade receivables 3 317 2 094 Tax and public duties 1 991 1 814 Unsettled claims 214 5 215 Other receivables 5 478 2 676 Total 109 087 94 088 For accounting policy related to provision for impairment on trade receivables, see note 15.Total outstanding (USD 1 000)31.12.2025 31.12.2024Not due 67 119 57 801 1 -15 14 068 14 785 16-30 7 131 1 349 31-60 7 226 6 004 61- 3 339 3 132 Total 98 884 83 070 Prepayments (USD 1 000)31.12.2025 31.12.2024Prepayments administration 3 046 2 498 Other prepayments 4 563 2 337 Total 7 610 4 835",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__77": {
"value": "Note 14 \u2014 Financial riskThe Group is exposed to the following financial risks from its ordinary operations:\u2022 Market risk \u2022 Cash flow interest rate risk \u2022 Fair value interest rate risk \u2022 Foreign exchange rate risk \u2022 Bunker price risk\u2022 Credit risk\u2022 Liquidity risk\u2022 Climate riskThe Group\u2019s risk management guidelines are established to identify, analyse and monitor the various risks and to set the appropriate frameworks. The guidelines are reviewed regularly to consider changes in the market conditions and the Group\u2019s activities. The Board of Directors has the overall responsibility for the establishment and control of the Group\u2019s framework for financial risk management. The Group\u2019s Audit Committee controls that management follows the guidelines set by the Board. Market riskMarket risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprise four types of risk: cash flow interest rate risk, fair value interest rate risk, currency risk and other price risk, such as bunkers risk.The Group buys and sells financial derivatives in order to mitigate risks from movements in interest rates. Changes in the market value of financial derivatives are recognised through the income statement. The Group does not apply IFRS hedge accounting.Cash flow interest rate riskThe Group\u2019s interest rate risk arises from long-term borrowings at floating rate and the risk is therefore a cash flow interest rate risk. The Group from time to time manages its cash flow interest rate risk by using floating-to-fixed interest rate swaps.For 2025, a change in interest rate of 1 percentage point would have had an effect on the Group\u2019s profit before tax and equity, through the impact of net floating rate borrowings, of about USD 3.5 million (2024: USD 1.5 million)As of year-end 2025 the Group had no interest rate swaps. Fair value interest riskThe interest rate risk can be reduced through interest rate swaps. The Group currently evaluates the exposure to interest rate risk as limited, and at year-end 2025, the Group did not have any interest rate swaps.Foreign exchange rate riskThe Group is exposed to currency fluctuations to a limited extent as a greater part of its income and expenses (including financial and capital expenses) are in USD. The largest non-USD cost is in NOK and relates to general administrative expenses, wages and pension cost. The Group\u2019s mortgage debt is denominated in USD. The Group has active currency hedges as of 31.12.2025. For further information see Note 15.FX sensitivity Year-end 2025 Max Last 12M Min Last 12M Sensitivity Cash effect Fwd12M Currency (USD / NOK) * 10.08 11.29 9.99 10% NOK appreciation vs USD -3.95 USDm* reduced/(increased) USD expenses for the next 12 months when USD/NOK forward is decreased by 10%.FX sensitivity Year-end 2024 Max Last 12M Min Last 12M Sensitivity Cash effect Fwd12M Currency (USD / NOK) * 11.35 11.42 10.30 10% NOK appreciation vs USD -3.19 USDm* reduced/(increased) USD expenses for the next 12 months when USD/NOK forward is decreased by 10%. Note 14 \u2014 Financial risk cont. The Group has cash and bank deposits in the following currencies:Cash and bank deposits (USD 1 000)2025 2024United States Dollar 269 380 166 675 Norwegian Kroner 3 284 23 401 Pound Sterling 319 870 Euro 14 162 8 403 Japanese Yen 4 917 4 529 Other currencies 7 404 3 987 Total 299 465 207 866 The equivalent of USD 8.7 million (USD 7.6 million in 2024) of these deposits was held in restricted accounts in respect of employee taxes and bank guarantees. Applied currency rates Currency 31.12.2025 Average 31.12.2024Pound Sterling USD/GBP 0.74 0.76 0.80 Japanese Yen USD/JPY 156.67 149.63 156.96 Norwegian Kroner USD/NOK 10.08 10.39 11.35 Euro USD/EUR 0.85 0.89 0.96 Bunker price riskThe Group has Bunker Adjustment Factor (BAF) clauses in most commercial contracts designed to adjust for changes in bunker prices. Due to time lag, the Group will not be fully compensated in periods of rapidly changing prices, but it will give reasonable compensation in most periods. The Group has no bunkers derivatives at year-end 2025.Credit risk Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Group is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks and financial institutions, foreign exchange transaction and other financial instruments. When relevant, the Group will only have derivatives with sound financial institutions.Normal credit period for freights is from 25 to 30 days. For new larger customers a credit analysis is conducted. The majority of the largest customers have had a long relationship with H\u00f6egh Autoliners. Bad debt has remained at a very low and stable level in recent years. The Group applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables and contract assets. The maximum exposure risk is represented by the carrying amounts that are carried in the balance sheets. For further information about receivables see Note 13.Liquidity riskLiquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Group\u2019s approach to liquidity management is to ensure, to the extent possible, that the liquidity at any time can meet on-going obligations, both under normal and stressful conditions. The liquidity reserve shall be keptsolid with targeted minimum cash holding relative to the size of the operation, cash flow development and capital commitments. The Group will seek to have the majority of its liquidity in bank deposits. Total cash and bank deposits at 31 December 2025 amount to USD 299 million.The table below summarises the maturity profile of the Group\u2019s financial liabilities based on contractual undiscounted payments.For further information see Note 17 and 19.Per 31.12.2025 (USD 1 000)Note < 1 year 1 -2 years 2- 5 years > 5 years TotalMortgage debt (interest included) 18 82 437 78 226 625 916 - 786 578 Lease liabilities (interest included)* 8 5 548 2 707 5 829 6 504 20 588 Other interest bearing debt (interest included) 18 9 895 10 406 34 241 203 720 258 262 Trade and other payables 19 65 788 - - - 66 236 Total 163 667 91 338 665 986 210 224 1 131 216 Per 31.12.2024 (USD 1 000)Note < 1 year 1 -2 years 2- 5 years > 5 years TotalMortgage debt (interest included) 18 62 168 59 398 168 621 345 767 635 954 Lease liabilities (interest included)* 8 32 125 12 040 26 714 38 151 109 029 Other interest bearing debt (interest included) 18 6 519 6 719 22 108 134 214 169 560 Trade and other payables 19 56 919 - - - 56 919 Total 157 731 78 156 217 443 518 132 971 463 * See Note 7 and 8 for further information.Fair value of the Group\u2019s credit facility approximates the facility\u2019s amortised cost, as the issuers borrowing costs are considered to be according to market rates. No financial assets or liabilities are subject to offsetting, enforceable master netting agreements or similar agreements.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__78": {
"value": "Market riskMarket risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprise four types of risk: cash flow interest rate risk, fair value interest rate risk, currency risk and other price risk, such as bunkers risk.The Group buys and sells financial derivatives in order to mitigate risks from movements in interest rates. Changes in the market value of financial derivatives are recognised through the income statement. The Group does not apply IFRS hedge accounting.Cash flow interest rate riskThe Group\u2019s interest rate risk arises from long-term borrowings at floating rate and the risk is therefore a cash flow interest rate risk. The Group from time to time manages its cash flow interest rate risk by using floating-to-fixed interest rate swaps.For 2025, a change in interest rate of 1 percentage point would have had an effect on the Group\u2019s profit before tax and equity, through the impact of net floating rate borrowings, of about USD 3.5 million (2024: USD 1.5 million)As of year-end 2025 the Group had no interest rate swaps. Fair value interest riskThe interest rate risk can be reduced through interest rate swaps. The Group currently evaluates the exposure to interest rate risk as limited, and at year-end 2025, the Group did not have any interest rate swaps.Foreign exchange rate riskThe Group is exposed to currency fluctuations to a limited extent as a greater part of its income and expenses (including financial and capital expenses) are in USD. The largest non-USD cost is in NOK and relates to general administrative expenses, wages and pension cost. The Group\u2019s mortgage debt is denominated in USD. The Group has active currency hedges as of 31.12.2025. For further information see Note 15.FX sensitivity Year-end 2025 Max Last 12M Min Last 12M Sensitivity Cash effect Fwd12M Currency (USD / NOK) * 10.08 11.29 9.99 10% NOK appreciation vs USD -3.95 USDm* reduced/(increased) USD expenses for the next 12 months when USD/NOK forward is decreased by 10%.FX sensitivity Year-end 2024 Max Last 12M Min Last 12M Sensitivity Cash effect Fwd12M Currency (USD / NOK) * 11.35 11.42 10.30 10% NOK appreciation vs USD -3.19 USDm* reduced/(increased) USD expenses for the next 12 months when USD/NOK forward is decreased by 10%. Note 14 \u2014 Financial risk cont. The Group has cash and bank deposits in the following currencies:Cash and bank deposits (USD 1 000)2025 2024United States Dollar 269 380 166 675 Norwegian Kroner 3 284 23 401 Pound Sterling 319 870 Euro 14 162 8 403 Japanese Yen 4 917 4 529 Other currencies 7 404 3 987 Total 299 465 207 866 The equivalent of USD 8.7 million (USD 7.6 million in 2024) of these deposits was held in restricted accounts in respect of employee taxes and bank guarantees. Applied currency rates Currency 31.12.2025 Average 31.12.2024Pound Sterling USD/GBP 0.74 0.76 0.80 Japanese Yen USD/JPY 156.67 149.63 156.96 Norwegian Kroner USD/NOK 10.08 10.39 11.35 Euro USD/EUR 0.85 0.89 0.96 Bunker price riskThe Group has Bunker Adjustment Factor (BAF) clauses in most commercial contracts designed to adjust for changes in bunker prices. Due to time lag, the Group will not be fully compensated in periods of rapidly changing prices, but it will give reasonable compensation in most periods. The Group has no bunkers derivatives at year-end 2025.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__79": {
"value": "Credit risk Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Group is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks and financial institutions, foreign exchange transaction and other financial instruments. When relevant, the Group will only have derivatives with sound financial institutions.Normal credit period for freights is from 25 to 30 days. For new larger customers a credit analysis is conducted. The majority of the largest customers have had a long relationship with H\u00f6egh Autoliners. Bad debt has remained at a very low and stable level in recent years. The Group applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables and contract assets. The maximum exposure risk is represented by the carrying amounts that are carried in the balance sheets. For further information about receivables see Note 13.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__80": {
"value": "Liquidity riskLiquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Group\u2019s approach to liquidity management is to ensure, to the extent possible, that the liquidity at any time can meet on-going obligations, both under normal and stressful conditions. The liquidity reserve shall be keptsolid with targeted minimum cash holding relative to the size of the operation, cash flow development and capital commitments. The Group will seek to have the majority of its liquidity in bank deposits. Total cash and bank deposits at 31 December 2025 amount to USD 299 million.The table below summarises the maturity profile of the Group\u2019s financial liabilities based on contractual undiscounted payments.For further information see Note 17 and 19.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__85": {
"value": "Accounting policies Financial assets Financial assets are initially recognised at fair value when the Group becomes a party to the contractual provisions of the asset, unless the fair value differs from the transaction value.The subsequent measurement of the financial assets depends on what category they are classified into at inception. The Group classifies its financial assets into the following main categories for subse-quent measurement; Debt instrument at amortised cost, debt instruments at fair value through other comprehensive income (with cumulative gains and losses reclassified to profit or loss upon derecognition) and equity instruments designated measured at fair value through other comprehensive income (with gains and losses remaining in other comprehensive income). The fair value of investments that are actively traded in organised financial markets is determined by reference to quoted market bid prices at the close of business on the balance sheet date. For investments where there is no active market, fair value is deter-mined applying commonly used valuation techniques. As of31 December 2025, the Group holds financial instruments classified in level three in the valuation hierarchy. Amortised costThis category includes assets that are held in order to collect contractual cash flows, and where the contractual terms give right to cash flows that are solely related to principal and interests on the principal amount outstanding. This includes mainly loans to associate companies and trade receivables. Loans and trade receivables are non-derivative financial assets with fixed or agreed payments that are not traded in an active market. Such assets are measured at amortised cost using the effective interest method. Gains and losses are recognised in the consolidated statement of comprehensive income when the loans and receivables are derecognised or impaired, as well as through the amortisation process. Trade and other receivables are carried at the original invoice amount, less an allowance made for doubtful receivables. Impairment is performed when there is objective evidence that the Group will be unable to recover balances in full. Financial assets at fair value through other comprehensive income Investments in shares not held for trade purposes, are classified as investments in fair value through other comprehensive income. Dividends from these companies are recognised through profit or loss unless they clearly represent a recovery of part of the invest-ment, in which case they are recognised in other comprehensive income. Financial assets at fair value through profit or loss This category includes financial assets that are held for trading and financial assets that on initial recognition are designated as fair value through profit or loss. Derivatives are also categorised as held for trading unless they are designated as effective hedging instruments as defined by IFRS 9. The Group uses derivative financial instruments such as interest rate swaps to manage its risks associated with interest rates. Derivatives are carried as assets when the fair value is positive and as liabilities when the fair value is negative. Changes in the fair value are recognised in the statement of comprehensive income as other financial items. The fair value of bunker caps is determined using the market value at the balance sheet date. The Group has not designated any derivatives as hedging instruments under IFRS 9. Financial liabilitiesFinancial liabilities are after initial recognition measured at amor-tised cost using the effective interest method, except for financial liabilities recognised through profit or loss, including derivatives. Financial liabilities at fair value through profit or loss is calculated by discounting future cash flows. Interest bearing bank loans and other debt classified as financial liabilities are initially recognised at fair value when the Group becomes party to the contractual provisions of the instrument. After initial recognition, interest bearing loans and borrowings are subsequently measured at amortised cost using the effec-tive interest method. Amortised cost is calculated by taking into account any issue costs, and any discount or premium on settlement. A substantial modification of the terms of an existing financial liability is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. In the case of recognising a new liability, the fees are treated as part of the amortised cost.Financial liabilities are presented as current if the liabilities are due to be settled within 12 months after the balance sheet date, whereas liabilities with the legal right to be settled more than 12 months after the balance sheet date are classified as non-current liabilities. Impairment of financial assetsThe Group assesses at each balance sheet date whether a finan-cial asset or group of financial assets may be impaired. Financial assets are impaired when there is objective evidence that the Group is not likely to recover all the amounts in connection with contractual terms related to loans and receivables.The amount of expected credit losses recognised as a loss allowance depends on the extent of credit deterioration since initial recognition: \u00b7 12-month expected credit losses, which applies to all items (from initial recognition) as long as there is no significant deterioration in credit quality, or \u00b7 Full lifetime expected credit losses, which applies when a significant increase in credit risk has occurred on an individual or collective basisImpairment reversals are recorded when the amount of impairment losses in future periods is reduced, and the reduction can be linked objectively to an event that occurs after the impairment was recognised. A reversal will only be recorded to the extent that the carrying value does not exceed what the amortised cost would have been if the impairment had not been made. Impairment reversals are presented as income or as a reduction of expenses. Derecognition of financial instruments A financial asset is derecognised when: \u00b7 The rights to receive cash flows from the asset have expired \u00b7 The Group retains the right to receive cash flows from the asset, but has assumed an obligation to pay them in full without material delay to a third party under a \u2018pass-through\u2019 arrangement; or \u00b7 The Group has transferred its rights to receive cash flows from the asset and either (a) has transferred substantially all the risks and rewards of the asset, or (b) has neither transferred nor retained substantially all the risks and rewards of the asset but has transferred control of the asset. Financial liabilities are derecognised from the balance sheet when the contractual obligation expires, is discharged or cancelled. Gains and losses arising on the repurchase, settlement or cancel-lation of liabilities are recognised respectively in interest income and other financial items and interest and other finance expenses. Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts is recognised in profit or loss. The terms are substantially different if the discounted present value of the cash flows under the new terms, including any fees paid net of any fees received and discounted using the original effective interest rate, is at least 10% different from the discounted present value of the remaining cash flows of the original financial liability. Cash and cash equivalents Cash includes cash in hand and bank deposits, including restricted bank accounts for deposits in respect of employee taxes. For further disclosures, see Note 14.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__86": {
"value": "Financial assets Financial assets are initially recognised at fair value when the Group becomes a party to the contractual provisions of the asset, unless the fair value differs from the transaction value.The subsequent measurement of the financial assets depends on what category they are classified into at inception. The Group classifies its financial assets into the following main categories for subse-quent measurement; Debt instrument at amortised cost, debt instruments at fair value through other comprehensive income (with cumulative gains and losses reclassified to profit or loss upon derecognition) and equity instruments designated measured at fair value through other comprehensive income (with gains and losses remaining in other comprehensive income). The fair value of investments that are actively traded in organised financial markets is determined by reference to quoted market bid prices at the close of business on the balance sheet date. For investments where there is no active market, fair value is deter-mined applying commonly used valuation techniques. As of31 December 2025, the Group holds financial instruments classified in level three in the valuation hierarchy.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__90": {
"value": "Financial assets at fair value through other comprehensive income Investments in shares not held for trade purposes, are classified as investments in fair value through other comprehensive income. Dividends from these companies are recognised through profit or loss unless they clearly represent a recovery of part of the invest-ment, in which case they are recognised in other comprehensive income. Financial assets at fair value through profit or loss This category includes financial assets that are held for trading and financial assets that on initial recognition are designated as fair value through profit or loss. Derivatives are also categorised as held for trading unless they are designated as effective hedging instruments as defined by IFRS 9. The Group uses derivative financial instruments such as interest rate swaps to manage its risks associated with interest rates. Derivatives are carried as assets when the fair value is positive and as liabilities when the fair value is negative. Changes in the fair value are recognised in the statement of comprehensive income as other financial items. The fair value of bunker caps is determined using the market value at the balance sheet date. The Group has not designated any derivatives as hedging instruments under IFRS 9.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__87": {
"value": "Financial assets at fair value through other comprehensive income Investments in shares not held for trade purposes, are classified as investments in fair value through other comprehensive income. Dividends from these companies are recognised through profit or loss unless they clearly represent a recovery of part of the invest-ment, in which case they are recognised in other comprehensive income. Financial assets at fair value through profit or loss This category includes financial assets that are held for trading and financial assets that on initial recognition are designated as fair value through profit or loss. Derivatives are also categorised as held for trading unless they are designated as effective hedging instruments as defined by IFRS 9. The Group uses derivative financial instruments such as interest rate swaps to manage its risks associated with interest rates. Derivatives are carried as assets when the fair value is positive and as liabilities when the fair value is negative. Changes in the fair value are recognised in the statement of comprehensive income as other financial items. The fair value of bunker caps is determined using the market value at the balance sheet date. The Group has not designated any derivatives as hedging instruments under IFRS 9.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__88": {
"value": "Financial liabilitiesFinancial liabilities are after initial recognition measured at amor-tised cost using the effective interest method, except for financial liabilities recognised through profit or loss, including derivatives. Financial liabilities at fair value through profit or loss is calculated by discounting future cash flows. Interest bearing bank loans and other debt classified as financial liabilities are initially recognised at fair value when the Group becomes party to the contractual provisions of the instrument. After initial recognition, interest bearing loans and borrowings are subsequently measured at amortised cost using the effec-tive interest method. Amortised cost is calculated by taking into account any issue costs, and any discount or premium on settlement. A substantial modification of the terms of an existing financial liability is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. In the case of recognising a new liability, the fees are treated as part of the amortised cost.Financial liabilities are presented as current if the liabilities are due to be settled within 12 months after the balance sheet date, whereas liabilities with the legal right to be settled more than 12 months after the balance sheet date are classified as non-current liabilities",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__84": {
"value": "Impairment of financial assetsThe Group assesses at each balance sheet date whether a finan-cial asset or group of financial assets may be impaired. Financial assets are impaired when there is objective evidence that the Group is not likely to recover all the amounts in connection with contractual terms related to loans and receivables.The amount of expected credit losses recognised as a loss allowance depends on the extent of credit deterioration since initial recognition: \u00b7 12-month expected credit losses, which applies to all items (from initial recognition) as long as there is no significant deterioration in credit quality, or \u00b7 Full lifetime expected credit losses, which applies when a significant increase in credit risk has occurred on an individual or collective basisImpairment reversals are recorded when the amount of impairment losses in future periods is reduced, and the reduction can be linked objectively to an event that occurs after the impairment was recognised. A reversal will only be recorded to the extent that the carrying value does not exceed what the amortised cost would have been if the impairment had not been made. Impairment reversals are presented as income or as a reduction of expenses.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__81": {
"value": "Note 15 \u2014 Financial instruments Accounting policies Financial assets Financial assets are initially recognised at fair value when the Group becomes a party to the contractual provisions of the asset, unless the fair value differs from the transaction value.The subsequent measurement of the financial assets depends on what category they are classified into at inception. The Group classifies its financial assets into the following main categories for subse-quent measurement; Debt instrument at amortised cost, debt instruments at fair value through other comprehensive income (with cumulative gains and losses reclassified to profit or loss upon derecognition) and equity instruments designated measured at fair value through other comprehensive income (with gains and losses remaining in other comprehensive income). The fair value of investments that are actively traded in organised financial markets is determined by reference to quoted market bid prices at the close of business on the balance sheet date. For investments where there is no active market, fair value is deter-mined applying commonly used valuation techniques. As of31 December 2025, the Group holds financial instruments classified in level three in the valuation hierarchy. Amortised costThis category includes assets that are held in order to collect contractual cash flows, and where the contractual terms give right to cash flows that are solely related to principal and interests on the principal amount outstanding. This includes mainly loans to associate companies and trade receivables. Loans and trade receivables are non-derivative financial assets with fixed or agreed payments that are not traded in an active market. Such assets are measured at amortised cost using the effective interest method. Gains and losses are recognised in the consolidated statement of comprehensive income when the loans and receivables are derecognised or impaired, as well as through the amortisation process. Trade and other receivables are carried at the original invoice amount, less an allowance made for doubtful receivables. Impairment is performed when there is objective evidence that the Group will be unable to recover balances in full. Financial assets at fair value through other comprehensive income Investments in shares not held for trade purposes, are classified as investments in fair value through other comprehensive income. Dividends from these companies are recognised through profit or loss unless they clearly represent a recovery of part of the invest-ment, in which case they are recognised in other comprehensive income. Financial assets at fair value through profit or loss This category includes financial assets that are held for trading and financial assets that on initial recognition are designated as fair value through profit or loss. Derivatives are also categorised as held for trading unless they are designated as effective hedging instruments as defined by IFRS 9. The Group uses derivative financial instruments such as interest rate swaps to manage its risks associated with interest rates. Derivatives are carried as assets when the fair value is positive and as liabilities when the fair value is negative. Changes in the fair value are recognised in the statement of comprehensive income as other financial items. The fair value of bunker caps is determined using the market value at the balance sheet date. The Group has not designated any derivatives as hedging instruments under IFRS 9. Financial liabilitiesFinancial liabilities are after initial recognition measured at amor-tised cost using the effective interest method, except for financial liabilities recognised through profit or loss, including derivatives. Financial liabilities at fair value through profit or loss is calculated by discounting future cash flows. Interest bearing bank loans and other debt classified as financial liabilities are initially recognised at fair value when the Group becomes party to the contractual provisions of the instrument. After initial recognition, interest bearing loans and borrowings are subsequently measured at amortised cost using the effec-tive interest method. Amortised cost is calculated by taking into account any issue costs, and any discount or premium on settlement. A substantial modification of the terms of an existing financial liability is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. In the case of recognising a new liability, the fees are treated as part of the amortised cost.Financial liabilities are presented as current if the liabilities are due to be settled within 12 months after the balance sheet date, whereas liabilities with the legal right to be settled more than 12 months after the balance sheet date are classified as non-current liabilities. Impairment of financial assetsThe Group assesses at each balance sheet date whether a finan-cial asset or group of financial assets may be impaired. Financial assets are impaired when there is objective evidence that the Group is not likely to recover all the amounts in connection with contractual terms related to loans and receivables.The amount of expected credit losses recognised as a loss allowance depends on the extent of credit deterioration since initial recognition: \u00b7 12-month expected credit losses, which applies to all items (from initial recognition) as long as there is no significant deterioration in credit quality, or \u00b7 Full lifetime expected credit losses, which applies when a significant increase in credit risk has occurred on an individual or collective basisImpairment reversals are recorded when the amount of impairment losses in future periods is reduced, and the reduction can be linked objectively to an event that occurs after the impairment was recognised. A reversal will only be recorded to the extent that the carrying value does not exceed what the amortised cost would have been if the impairment had not been made. Impairment reversals are presented as income or as a reduction of expenses. Derecognition of financial instruments A financial asset is derecognised when: \u00b7 The rights to receive cash flows from the asset have expired \u00b7 The Group retains the right to receive cash flows from the asset, but has assumed an obligation to pay them in full without material delay to a third party under a \u2018pass-through\u2019 arrangement; or \u00b7 The Group has transferred its rights to receive cash flows from the asset and either (a) has transferred substantially all the risks and rewards of the asset, or (b) has neither transferred nor retained substantially all the risks and rewards of the asset but has transferred control of the asset. Financial liabilities are derecognised from the balance sheet when the contractual obligation expires, is discharged or cancelled. Gains and losses arising on the repurchase, settlement or cancel-lation of liabilities are recognised respectively in interest income and other financial items and interest and other finance expenses. Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts is recognised in profit or loss. The terms are substantially different if the discounted present value of the cash flows under the new terms, including any fees paid net of any fees received and discounted using the original effective interest rate, is at least 10% different from the discounted present value of the remaining cash flows of the original financial liability. Cash and cash equivalents Cash includes cash in hand and bank deposits, including restricted bank accounts for deposits in respect of employee taxes. For further disclosures, see Note 14. Note 15 \u2014 Financial instruments cont.Financial instruments by category 2025 Assets at fair Assets at Assets at fair value Assets (USD 1 000) Note amortised cost value through P&L through OCI * Other Total Investments in other companies 12 - - 882 - 882 Other non-current financial assets 12 235 - - 117 352 Trade and other receivables** 13 107 096 - - - 107 096 Cash and cash equivalents 14 299 465 - - - 299 465 Other current financial assets - 28 - - 28 Assets 31.12.2025 406 796 28 882 117 407 823 * Assets at fair value through OCI is without reclassification to the P&L. The investments in Other Companies correspond to shares in the company NSA U.K. Ltd., where fair value changes of this investment are classified as Other Comprehensive Income (OCI). As the shares are not listed and there are no observable prices, the discounted cash flow model has been applied to estimate the equity value of NSA U.K. Ltd. ** Trade and other receivables are excluding tax and public duties. Financial Liabilities Financial liabilities at at fair value liabilities at fair Liabilities (USD 1 000) Note amortised cost through P&L value through OCI Other Total Non-current interest bearing debt 18 857 055 - - - 857 055 Current interest bearing debt 18 56 119 - - - 56 119 Trade and other payables (excl. non-fin. liab.) 19 56 412 - - - 56 412 Liabilities 31.12.2025 969 586 - - - 969 586 Note 15 \u2014 Financial instruments cont.Financial instruments by category 2024 Assets at fair Assets at Assets at fair value Assets (USD 1 000) Note amortised cost value through P&L through OCI * Other Total Investments in other companies 12 - - 845 - 845 Other non-current financial assets 12 152 - - 104 255 Trade and other receivables**13 92 275 - - - 92 275 Cash and cash equivalents 14 207 866 - - - 207 866 Assets 31.12.2024 300 292 - 845 104 301 241 * Assets at fair value through OCI is without reclassification to the P&L. The investments in Other Companies correspond to shares in the company NSA U.K. Ltd., where fair value changes of this investment are classified as Other Comprehensive Income (OCI). As the shares are not listed and there are no observable prices, the discounted cash flow model has been applied to estimate the equity value of NSA U.K. Ltd. ** Trade and other receivables are excluding tax and public duties. Financial Liabilities Financial liabilities at at fair value liabilities at fair Liabilities (USD 1 000) Note amortised cost through P&L value through OCI Other Total Non-current interest bearing debt 18 661 491 - - - 661 491 Current interest bearing debt 18 46 288 - - - 46 288 Trade and other payables (excl. non-fin. liab.) 19 44 290 - - - 44 290 Other current financial liabilities 22 - 220 - - 220 Liabilities 31.12.2024 752 069 220 - - 752 290 Note 15 \u2014 Financial instruments cont.Fair value measurement The following tables presents the Group`s financial assets and liabilities measured at fair value, by valuation method. The different levels have been defined as follows:\u2022 Level 1: Quoted prices in active markets for identical assets or liabilities.\u2022 Level 2: Inputs other than quoted prices included within level one that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is derived from prices).\u2022 Level 3: Inputs for the assets or liabilities that are not based on observable market data.Financial instruments at fair value 31.12.2025 (USD 1 000) Level 1 Level 2 Level 3 Total Investment in other companies - - 882 882 Currency hedge - 28 - 28 Total assets - 28 882 910 Financial instruments at fair value 31.12.2024 (USD 1 000) Level 1 Level 2 Level 3 Total Investment in other companies - - 845 845 Total assets - - 845 845 Currency hedge - 220 - 220 Total liabilities - 220 - 220Note 15 \u2014 Financial instruments cont. Reconciliation of liabilities arising from financial activities Non-current Current interest interest Non-current Current Total financing Liabilities 2025 (USD 1 000) bearing debtbearing debtlease liabilitieslease liabilitiesactivities Total interest bearing debt 31.12.2024 661 491 46 288 54 692 26 137 788 608 Proceeds from issue of debt 260 946 10 174 - - 271 120 Repayment of loans and lease liabilities - (67 841) - (62 668) (130 509)New lease contracts and amendments - - 1 340 (4 235) (2 894)Other non-cash movements - 2 115 767 292 3 174 Reclassification (65 383) 65 383 (45 068) 45 068 - Total interest bearing debt 31.12.2025 857 055 56 119 11 732 4 594 929 499 Non-current Current interest interest Non-current Current Total financing Liabilities 2024 (USD 1 000) bearing debtbearing debtlease liabilitieslease liabilitiesactivitiesTotal interest bearing debt 31.12.2023 296 198 49 589 82 270 81 790 509 847 Proceeds from issue of debt 378 749 20 571 - - 399 320 Repayment of loans and lease liabilities - (46 292) - (130 875) (177 167)New lease contracts and amendments - - 9 603 38 024 47 628 Other non-cash movements 8 342 623 - 16 8 981 Reclassification (21 797) 21 797 (37 182) 37 182 - Total interest bearing debt 31.12.2024 661 491 46 288 54 692 26 137 788 608",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__89": {
"value": "Derecognition of financial instruments A financial asset is derecognised when: \u00b7 The rights to receive cash flows from the asset have expired \u00b7 The Group retains the right to receive cash flows from the asset, but has assumed an obligation to pay them in full without material delay to a third party under a \u2018pass-through\u2019 arrangement; or \u00b7 The Group has transferred its rights to receive cash flows from the asset and either (a) has transferred substantially all the risks and rewards of the asset, or (b) has neither transferred nor retained substantially all the risks and rewards of the asset but has transferred control of the asset. Financial liabilities are derecognised from the balance sheet when the contractual obligation expires, is discharged or cancelled. Gains and losses arising on the repurchase, settlement or cancel-lation of liabilities are recognised respectively in interest income and other financial items and interest and other finance expenses. Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts is recognised in profit or loss. The terms are substantially different if the discounted present value of the cash flows under the new terms, including any fees paid net of any fees received and discounted using the original effective interest rate, is at least 10% different from the discounted present value of the remaining cash flows of the original financial liability.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__83": {
"value": "Cash and cash equivalents Cash includes cash in hand and bank deposits, including restricted bank accounts for deposits in respect of employee taxes. For further disclosures, see Note 14.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__82": {
"value": "Fair value measurement The following tables presents the Group`s financial assets and liabilities measured at fair value, by valuation method. The different levels have been defined as follows:\u2022 Level 1: Quoted prices in active markets for identical assets or liabilities.\u2022 Level 2: Inputs other than quoted prices included within level one that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is derived from prices).\u2022 Level 3: Inputs for the assets or liabilities that are not based on observable market data.Financial instruments at fair value 31.12.2025 (USD 1 000) Level 1 Level 2 Level 3 Total Investment in other companies - - 882 882 Currency hedge - 28 - 28 Total assets - 28 882 910 Financial instruments at fair value 31.12.2024 (USD 1 000) Level 1 Level 2 Level 3 Total Investment in other companies - - 845 845 Total assets - - 845 845 Currency hedge - 220 - 220 Total liabilities - 220 - 220",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__92": {
"value": "Note 16 \u2013 Share information and earnings per share Accounting policyTransaction costs related to equity transactions are recognised directly in equity after the deduction of tax.Basic earnings per share is calculated by dividing net profit or loss attributable to equity holders of the Company after non-controlling interest, by the weighted average number of total outstanding shares (adjusted for average number of own shares) during the financial year. Diluted earnings per share is calculated by dividing the net profit or loss attributable to equity holders of the Company after non-controlling interest, by the weighted average number of total outstanding shares (adjusted for average number of own shares) during the financial year, after adjusting for all dilutive potential shares. The potential shares arising from the Company\u2019s equity-settled, share-based compensation plan are included in the calculation of diluted earnings per share. See Note 6 for more information on the share-based compensation plan.The Company\u2019s number of shares is as follows: 2025 2024 Total shares at 31 December 190 769 749 190 769 749 Own shares at 31 December 461 3 652 Earnings per share USD 31.12.2025 31.12.2024 Weighted average number of ordinary shares for the purpose of basic earnings per share 190 766 211 190 707 897 Effect of dilutive potential ordinary shares:- Share options 248 412 279 098 Weighted average number of ordinary shares for the purpose of diluted earnings per share 191 014 622 190 986 996 Profit for the period attributable to the owners of the parent 513 478 949 619 508 957 Earnings per share basic 2.69 3.25 Earnings per share diluted 2.69 3.24 To meet the obligations from the Company\u2019s share bonus program, 103 000 own shares were purchased in December 2025. A total of 106 192 shares were delivered to the participants following the completion of the vesting period for the second award, of which 3 652 were delivered from the Company\u2019s own shares. The Company has 461 own shares at 31 December 2025. See note 6 for further details on the share bonus program.The Board of directors has proposed dividend to be paid for 2025 according to the dividend policy.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__94": {
"value": "Accounting policyTransaction costs related to equity transactions are recognised directly in equity after the deduction of tax.Basic earnings per share is calculated by dividing net profit or loss attributable to equity holders of the Company after non-controlling interest, by the weighted average number of total outstanding shares (adjusted for average number of own shares) during the financial year. Diluted earnings per share is calculated by dividing the net profit or loss attributable to equity holders of the Company after non-controlling interest, by the weighted average number of total outstanding shares (adjusted for average number of own shares) during the financial year, after adjusting for all dilutive potential shares. The potential shares arising from the Company\u2019s equity-settled, share-based compensation plan are included in the calculation of diluted earnings per share. See Note 6 for more information on the share-based compensation plan.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__95": {
"value": "Note 17 \u2014 Management of capital The Group\u2019s financial policies and guidelines are developed to secure sound financial flexibility for the Group to be able to support commer-cial activity and growth. Targets are set at levels which will give the Group sufficient strength through business cycles. The Group focus on a number of financial ratios, among others; Book equity ratio The Group\u2019s book equity ratio is targeted to be between 40-55%. The book equity at year-end 2025 is above the set target. Working capital The Group\u2019s working capital is targeted to be above zero excluding short-term lease liabilities. The ratio per year-end 2025 is above the set target (2024: above the set target). Liquidity reserve The aim is to keep a solid liquidity reserve with minimum cash holding relative to the size of the operation, cash flow development and capitalcommitments. The Group is targeting a minimum liquidity reserve of 12 months of debt service and unfinanced capital commitments, of which a part may consist of available credit facilities. The liquidity reserve year-end 2025 is above the set target. H\u00f6egh Autoliners ASA has covenants in the loan agreement regarding minimum book equity ratio, working capital and minimum liquidity. The Group is in compliance with these ratios on a consolidated basis as per year-end 2025. The Group aims to maximise shareholder return over time. To maintain or adjust the capital structure, the Group may adjust dividend distri-bution or issue new shares. According to the dividend policy, H\u00f6egh Autoliners targets to distribute quarterly dividends to shareholders of around 100% of cash generation after amortisation of debt facilities, capital expenditure and payable taxes. Any declaration of dividends will be at the discretion of the Board of Directors considering also the outlook and the Company\u2019s financial position. There are no restrictions on dividend payments in the loan agreement. Equity ratio (USD 1 000) 2025 2024 Total equity 1 274 798 1 177 449 Total assets 2 333 212 2 105 644 Equity ratio 55 %56 %",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__99": {
"value": "Note 18 \u2014 Non-current and current interest bearing debtRefinancing of debtH\u00f6egh Autoliners entered into two new credit facilities in March 2024; a USD 720 million Credit Facility for the purpose of refinancing the existing USD 810 million Credit Facility maturing January 2028, and a new USD 200 million Revolving Credit Facility (RCF) for general corporate purposes. The refinancing included extended maturity until March 2030, reduced annual amortisations, reduced interest rate, and a reduction of pledged vessels. The refinancing has been accounted for as a debt modification, resulting in a debt modification loss of USD 11 million for 2024. See also note 10.The new USD 200 million Revolving Credit Facility is non-amortising with maturity in March 2028. The facility serves as an additional liquidity reserve and provide flexibility for future capital allocation.As of 31 December 2025, a total of USD 720 million has been drawn from the USD 720 million credit facility (2024: USD 580 million). USD 18 million have been drawn from the USD 200 million RCF during 2025 (2024: USD 0 million)Other interest bearing debt of USD 258 million (2024: USD 170 million) relates to sale and leaseback arrangements with Bank of Communi-cations for four Aurora Class vessels. The vessels will be sold to Bank of Communications at delivery and leased back through bareboat charters. The lease agreements have a duration of 12 years with purchase obligations for H\u00f6egh Autoliners at the end of the lease. The financial covenants for the mortgage debt are related to minimum liquidity, working capital, minimum equity ratio and minimum market value of vessels must be complied with at all times. H\u00f6egh Autoliners was in compliance with all loan covenants at 31 December 2025. In addition to the financial covenants, the Group also has clauses in the loan agreement related to sustainability margin adjustments. The clauses will give an adjustment of the margin based on the fleet\u2019s sustainability score, being a verified cgDIST score per vessel.2025 - Interest bearing debt (USD 1 000) Non-current Current Total Interest bearing mortgage debt 614 206 46 980 661 186 Arrangement fee mortgage debt (5 521) (1 699) (7 220)Accrued interest - 946 946 Total interest bearing mortgage debt 608 685 46 227 654 912 Other interest bearing debt 248 369 9 892 258 262 Total interest bearing debt 31.12 857 055 56 119 913 174 2024 - Interest bearing debt (USD 1 000) Non-current Current Total Interest bearing mortgage debt 505 686 39 980 545 666 Arrangement fee mortgage debt (7 236) (1 002) (8 238)Accrued interest - 791 791 Total interest bearing mortgage debt 498 450 39 769 538 219 Other interest bearing debt 163 041 6 519 169 560 Total interest bearing debt 31.12 661 491 46 288 707 779 Mortgage debt (USD 1 000) Maturity Outstanding amountUSD 720 million senior secured March 2030 652 043 USD 200 million revolving credit facility March 2028 7 750 Total mortgage debt 31.12.2025 659 793 SecurityThe USD 720 million senior secured term loan and revolving credit facility is secured by mortgages in 21 of the Group\u2019s vessels, with a book value of USD 1 085 million (2024: 10 vessels with book value of USD 594 million). In addition, the debt is secured by an assignment of earnings and insurances.Weighted average effective interest rate of total borrowings 2025 2024Total interest bearing debt 6.12 % 6.79 %Certain financing agreements are subject to financial covenants based on H\u00f6egh Autoliners ASA consolidated financial statements in accordance with IFRS. The covenants are as follows: \u2022 Liquidity (including undrawn RCF) greater than the higher of (i) USD 60 million and (ii) an amount equal to 6% of the Group\u2019s borrowings. \u2022 Working capital (with certain adjustments to current liabilities) greater than zero. \u2022 Equity ratio greater than 30%. \u2022 Minimum market value for secured vessels of at least 130% of the outstanding loans.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__98": {
"value": "Note 18 \u2014 Non-current and current interest bearing debtRefinancing of debtH\u00f6egh Autoliners entered into two new credit facilities in March 2024; a USD 720 million Credit Facility for the purpose of refinancing the existing USD 810 million Credit Facility maturing January 2028, and a new USD 200 million Revolving Credit Facility (RCF) for general corporate purposes. The refinancing included extended maturity until March 2030, reduced annual amortisations, reduced interest rate, and a reduction of pledged vessels. The refinancing has been accounted for as a debt modification, resulting in a debt modification loss of USD 11 million for 2024. See also note 10.The new USD 200 million Revolving Credit Facility is non-amortising with maturity in March 2028. The facility serves as an additional liquidity reserve and provide flexibility for future capital allocation.As of 31 December 2025, a total of USD 720 million has been drawn from the USD 720 million credit facility (2024: USD 580 million). USD 18 million have been drawn from the USD 200 million RCF during 2025 (2024: USD 0 million)Other interest bearing debt of USD 258 million (2024: USD 170 million) relates to sale and leaseback arrangements with Bank of Communi-cations for four Aurora Class vessels. The vessels will be sold to Bank of Communications at delivery and leased back through bareboat charters. The lease agreements have a duration of 12 years with purchase obligations for H\u00f6egh Autoliners at the end of the lease. The financial covenants for the mortgage debt are related to minimum liquidity, working capital, minimum equity ratio and minimum market value of vessels must be complied with at all times. H\u00f6egh Autoliners was in compliance with all loan covenants at 31 December 2025. In addition to the financial covenants, the Group also has clauses in the loan agreement related to sustainability margin adjustments. The clauses will give an adjustment of the margin based on the fleet\u2019s sustainability score, being a verified cgDIST score per vessel.2025 - Interest bearing debt (USD 1 000) Non-current Current Total Interest bearing mortgage debt 614 206 46 980 661 186 Arrangement fee mortgage debt (5 521) (1 699) (7 220)Accrued interest - 946 946 Total interest bearing mortgage debt 608 685 46 227 654 912 Other interest bearing debt 248 369 9 892 258 262 Total interest bearing debt 31.12 857 055 56 119 913 174 2024 - Interest bearing debt (USD 1 000) Non-current Current Total Interest bearing mortgage debt 505 686 39 980 545 666 Arrangement fee mortgage debt (7 236) (1 002) (8 238)Accrued interest - 791 791 Total interest bearing mortgage debt 498 450 39 769 538 219 Other interest bearing debt 163 041 6 519 169 560 Total interest bearing debt 31.12 661 491 46 288 707 779 Mortgage debt (USD 1 000) Maturity Outstanding amountUSD 720 million senior secured March 2030 652 043 USD 200 million revolving credit facility March 2028 7 750 Total mortgage debt 31.12.2025 659 793 SecurityThe USD 720 million senior secured term loan and revolving credit facility is secured by mortgages in 21 of the Group\u2019s vessels, with a book value of USD 1 085 million (2024: 10 vessels with book value of USD 594 million). In addition, the debt is secured by an assignment of earnings and insurances.Weighted average effective interest rate of total borrowings 2025 2024Total interest bearing debt 6.12 % 6.79 %Certain financing agreements are subject to financial covenants based on H\u00f6egh Autoliners ASA consolidated financial statements in accordance with IFRS. The covenants are as follows: \u2022 Liquidity (including undrawn RCF) greater than the higher of (i) USD 60 million and (ii) an amount equal to 6% of the Group\u2019s borrowings. \u2022 Working capital (with certain adjustments to current liabilities) greater than zero. \u2022 Equity ratio greater than 30%. \u2022 Minimum market value for secured vessels of at least 130% of the outstanding loans.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__97": {
"value": "Note 18 \u2014 Non-current and current interest bearing debtRefinancing of debtH\u00f6egh Autoliners entered into two new credit facilities in March 2024; a USD 720 million Credit Facility for the purpose of refinancing the existing USD 810 million Credit Facility maturing January 2028, and a new USD 200 million Revolving Credit Facility (RCF) for general corporate purposes. The refinancing included extended maturity until March 2030, reduced annual amortisations, reduced interest rate, and a reduction of pledged vessels. The refinancing has been accounted for as a debt modification, resulting in a debt modification loss of USD 11 million for 2024. See also note 10.The new USD 200 million Revolving Credit Facility is non-amortising with maturity in March 2028. The facility serves as an additional liquidity reserve and provide flexibility for future capital allocation.As of 31 December 2025, a total of USD 720 million has been drawn from the USD 720 million credit facility (2024: USD 580 million). USD 18 million have been drawn from the USD 200 million RCF during 2025 (2024: USD 0 million)Other interest bearing debt of USD 258 million (2024: USD 170 million) relates to sale and leaseback arrangements with Bank of Communi-cations for four Aurora Class vessels. The vessels will be sold to Bank of Communications at delivery and leased back through bareboat charters. The lease agreements have a duration of 12 years with purchase obligations for H\u00f6egh Autoliners at the end of the lease. The financial covenants for the mortgage debt are related to minimum liquidity, working capital, minimum equity ratio and minimum market value of vessels must be complied with at all times. H\u00f6egh Autoliners was in compliance with all loan covenants at 31 December 2025. In addition to the financial covenants, the Group also has clauses in the loan agreement related to sustainability margin adjustments. The clauses will give an adjustment of the margin based on the fleet\u2019s sustainability score, being a verified cgDIST score per vessel.2025 - Interest bearing debt (USD 1 000) Non-current Current Total Interest bearing mortgage debt 614 206 46 980 661 186 Arrangement fee mortgage debt (5 521) (1 699) (7 220)Accrued interest - 946 946 Total interest bearing mortgage debt 608 685 46 227 654 912 Other interest bearing debt 248 369 9 892 258 262 Total interest bearing debt 31.12 857 055 56 119 913 174 2024 - Interest bearing debt (USD 1 000) Non-current Current Total Interest bearing mortgage debt 505 686 39 980 545 666 Arrangement fee mortgage debt (7 236) (1 002) (8 238)Accrued interest - 791 791 Total interest bearing mortgage debt 498 450 39 769 538 219 Other interest bearing debt 163 041 6 519 169 560 Total interest bearing debt 31.12 661 491 46 288 707 779 Mortgage debt (USD 1 000) Maturity Outstanding amountUSD 720 million senior secured March 2030 652 043 USD 200 million revolving credit facility March 2028 7 750 Total mortgage debt 31.12.2025 659 793 SecurityThe USD 720 million senior secured term loan and revolving credit facility is secured by mortgages in 21 of the Group\u2019s vessels, with a book value of USD 1 085 million (2024: 10 vessels with book value of USD 594 million). In addition, the debt is secured by an assignment of earnings and insurances.Weighted average effective interest rate of total borrowings 2025 2024Total interest bearing debt 6.12 % 6.79 %Certain financing agreements are subject to financial covenants based on H\u00f6egh Autoliners ASA consolidated financial statements in accordance with IFRS. The covenants are as follows: \u2022 Liquidity (including undrawn RCF) greater than the higher of (i) USD 60 million and (ii) an amount equal to 6% of the Group\u2019s borrowings. \u2022 Working capital (with certain adjustments to current liabilities) greater than zero. \u2022 Equity ratio greater than 30%. \u2022 Minimum market value for secured vessels of at least 130% of the outstanding loans.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__96": {
"value": "Note 18 \u2014 Non-current and current interest bearing debtRefinancing of debtH\u00f6egh Autoliners entered into two new credit facilities in March 2024; a USD 720 million Credit Facility for the purpose of refinancing the existing USD 810 million Credit Facility maturing January 2028, and a new USD 200 million Revolving Credit Facility (RCF) for general corporate purposes. The refinancing included extended maturity until March 2030, reduced annual amortisations, reduced interest rate, and a reduction of pledged vessels. The refinancing has been accounted for as a debt modification, resulting in a debt modification loss of USD 11 million for 2024. See also note 10.The new USD 200 million Revolving Credit Facility is non-amortising with maturity in March 2028. The facility serves as an additional liquidity reserve and provide flexibility for future capital allocation.As of 31 December 2025, a total of USD 720 million has been drawn from the USD 720 million credit facility (2024: USD 580 million). USD 18 million have been drawn from the USD 200 million RCF during 2025 (2024: USD 0 million)Other interest bearing debt of USD 258 million (2024: USD 170 million) relates to sale and leaseback arrangements with Bank of Communi-cations for four Aurora Class vessels. The vessels will be sold to Bank of Communications at delivery and leased back through bareboat charters. The lease agreements have a duration of 12 years with purchase obligations for H\u00f6egh Autoliners at the end of the lease. The financial covenants for the mortgage debt are related to minimum liquidity, working capital, minimum equity ratio and minimum market value of vessels must be complied with at all times. H\u00f6egh Autoliners was in compliance with all loan covenants at 31 December 2025. In addition to the financial covenants, the Group also has clauses in the loan agreement related to sustainability margin adjustments. The clauses will give an adjustment of the margin based on the fleet\u2019s sustainability score, being a verified cgDIST score per vessel.2025 - Interest bearing debt (USD 1 000) Non-current Current Total Interest bearing mortgage debt 614 206 46 980 661 186 Arrangement fee mortgage debt (5 521) (1 699) (7 220)Accrued interest - 946 946 Total interest bearing mortgage debt 608 685 46 227 654 912 Other interest bearing debt 248 369 9 892 258 262 Total interest bearing debt 31.12 857 055 56 119 913 174 2024 - Interest bearing debt (USD 1 000) Non-current Current Total Interest bearing mortgage debt 505 686 39 980 545 666 Arrangement fee mortgage debt (7 236) (1 002) (8 238)Accrued interest - 791 791 Total interest bearing mortgage debt 498 450 39 769 538 219 Other interest bearing debt 163 041 6 519 169 560 Total interest bearing debt 31.12 661 491 46 288 707 779 Mortgage debt (USD 1 000) Maturity Outstanding amountUSD 720 million senior secured March 2030 652 043 USD 200 million revolving credit facility March 2028 7 750 Total mortgage debt 31.12.2025 659 793 SecurityThe USD 720 million senior secured term loan and revolving credit facility is secured by mortgages in 21 of the Group\u2019s vessels, with a book value of USD 1 085 million (2024: 10 vessels with book value of USD 594 million). In addition, the debt is secured by an assignment of earnings and insurances.Weighted average effective interest rate of total borrowings 2025 2024Total interest bearing debt 6.12 % 6.79 %Certain financing agreements are subject to financial covenants based on H\u00f6egh Autoliners ASA consolidated financial statements in accordance with IFRS. The covenants are as follows: \u2022 Liquidity (including undrawn RCF) greater than the higher of (i) USD 60 million and (ii) an amount equal to 6% of the Group\u2019s borrowings. \u2022 Working capital (with certain adjustments to current liabilities) greater than zero. \u2022 Equity ratio greater than 30%. \u2022 Minimum market value for secured vessels of at least 130% of the outstanding loans.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__100": {
"value": "Note 19 \u2014 Trade and other payablesTrade and other payables (USD 1 000) 2025 2024Suppliers 47 521 40 086 ETS obligation 8 891 4 204 Public duties payable and holiday pay 9 376 12 629 Total 65 788 56 919 ETS obligation is to be settled by delivering EU allowances. Purchased allowances are classified in the balance sheet as other current assets. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__101": {
"value": "Note 20 \u2014 Current accruals and provisions Accounting policy Provisions are recognised when the Group has a legal or constructive obligation as a result of past events. The recognition of the provision is that it is likely (more likely than not) that a future event will lead to a financial settlement as a result of this commitment, and that the size of the amount can be measured reliably. Provisions are evaluated at each balance sheet date and reflects the best estimate of the obligation. When the effect of time is significant, the provision will be the present value of future payments to cover the obligation.Current accruals and provisions (USD 1 000) 31.12.2025 31.12.2024 Accrued voyage expenses 32 610 24 072 Accrued crew expenses 1 621 1 550 Accrued running expenses 20 703 18 730 Other current provisions 3 433 28 748 Total 58 367 73 099 AccrualsAll voyages are continuously estimated with regards to the expenses incurred at any given time during the voyage. The difference between actually invoiced expenses and the cost estimate is presented as accrued expenses at the balance sheet date.Other current provisions (USD 1 000) 31.12.2025 31.12.2024 Provision 01.01 28 748 7 688 Charged/(credited) to the income statement: Additional provisions 3 433 28 748 Unused amounts reversed (4 403) (875)Used during year (24 345) (6 813)Provision 31.12 3 433 28 748 Other current provisions in 2024 includes NOK 230 million withholding tax on dividend.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__103": {
"value": "Accounting policy Provisions are recognised when the Group has a legal or constructive obligation as a result of past events. The recognition of the provision is that it is likely (more likely than not) that a future event will lead to a financial settlement as a result of this commitment, and that the size of the amount can be measured reliably. Provisions are evaluated at each balance sheet date and reflects the best estimate of the obligation. When the effect of time is significant, the provision will be the present value of future payments to cover the obligation.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__104": {
"value": "Note 21 \u2014 Transactions with related partiesH\u00f6egh Autoliners ASA has held a 36.45% interest in ParCar AS until the liquidation in October 2025. ParCar Shipholding AS, which is 100% owned by ParCar AS, has leased H\u00f6egh Copenhagen on a bareboat lease to H\u00f6egh Autoliners Shipping AS. H\u00f6egh Autoliners Shipping AS exercised a purchase option for H\u00f6egh Copenhagen in March 2025 and the vessel was delivered in Q3 2025. Both ParCar AS and ParCar Shipholding AS were liquidated in 2025. H\u00f6egh Autoliners has no outstanding receivable as of 31.12.25 (2024: no outstanding receivable. See note 24 for further information on liquidation dividend received from ParCar.The main transactions are listed in the table below (USD 1 000):Supplier Receiver Type of agreement 2025 2024 ParCar Shipholding AS H\u00f6egh Autoliners Shipping AS Bareboat lease 4 605 6 936 ParCar Shipholding AS H\u00f6egh Autoliners Shipping AS Purchase option 36 500 - All H\u00f6egh Autoliners commercial subsidiaries make cargo bookings on behalf of H\u00f6egh Autoliners AS. Most of the commercial companies are cost-plus-based where the company\u2019s income is based on a percentage of the expenses. Based on this transfer pricing principle H\u00f6egh Autoliners Shipping AS has from the various commercial subsidiaries expensed USD 24 million (USD 20 million in 2024) as voyage expenses. Main transactions with other related partiesH\u00f6egh Capital Partners Ltd delivered consultancy services amounting to TUSD 7 in 2025 (2024: TUSD 7). No outstanding payables to H\u00f6egh Capital Partners Ltd at the end of 2025 (2024: nil).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__106": {
"value": "Note 22 \u2014 Contingent liabilities Accounting policiesContingent liabilities comprise:\u00b7 A possible obligation arising as a result of past events where the obligation depends on some uncertain future event\u00b7 A present obligation that is not recognised in the accounts since it is not probable that the obligation will result in a payment being made\u00b7 Liabilities that cannot be measured reliablyContingent liabilities are not recognised in the accounts except for contingent liabilities acquired as part of the purchase of a business. Contingent liabilities acquired as part of the purchase of a business are recognised in the accounts at fair value even if the liability is not likely to materialise. Contingent liabilities are not recognised in the financial statement, but if material, disclosed in the accompanying notes.A contingent asset is defined as a possible asset, that arises from past events, and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events, not wholly within the control of the entity. Contingent assets are not included in the annual accounts, but information is provided if there is a reasonable certainty that the benefit in question will accrue to the Group.Regular claims are made against the Group as a result of its ordinary operations. These are usually cargo claims for damages to the cargo on board the vessels. The Group is of the opinion that none of the on-going cases will lead to significant commitments for the Group.Since 2012 the Group has been subject of the global cartel inves-tigation in the PCTC industry, and this is still ongoing. The Group accepted a settlement of USD 21 million in a plea agreement in the United States of America in 2017, and it cannot be excluded that more fines and damage claims may come from this investigation in the future. Any potential fines or damage claims could be material for the Group.Update on alleged breaches of anti-trust regulations in BrazilOn 23 March 2022, The Administrative Council for Economic Defence (CADE) in Brazil issued a fine of approximately BRL 26 million (USD 4.7 million) to H\u00f6egh Autoliners for alleged breaches of anti-trust regulations dating back to 2000-2012. Since H\u00f6egh Autoliners did not have any turnover in Brazil in the relevant period, the fine is calculated on a \u201cvirtual turnover\u201d principle, based on Brazil\u2019s relevance in the worldwide PCTC market. The decision (including the \u201cvirtual turnover\u201d calculation) may be challenged before the Appellate Court in Brazil. H\u00f6egh Autoliners disa-grees with CADE\u2019s decision and after reviewing its merits, the Company has proceeded with an appeal. No provision has been made in the financial statements as of 31 December 2025.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__105-1": {
"value": "Note 22 \u2014 Contingent liabilities Accounting policiesContingent liabilities comprise:\u00b7 A possible obligation arising as a result of past events where the obligation depends on some uncertain future event\u00b7 A present obligation that is not recognised in the accounts since it is not probable that the obligation will result in a payment being made\u00b7 Liabilities that cannot be measured reliablyContingent liabilities are not recognised in the accounts except for contingent liabilities acquired as part of the purchase of a business. Contingent liabilities acquired as part of the purchase of a business are recognised in the accounts at fair value even if the liability is not likely to materialise. Contingent liabilities are not recognised in the financial statement, but if material, disclosed in the accompanying notes.A contingent asset is defined as a possible asset, that arises from past events, and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events, not wholly within the control of the entity. Contingent assets are not included in the annual accounts, but information is provided if there is a reasonable certainty that the benefit in question will accrue to the Group.Regular claims are made against the Group as a result of its ordinary operations. These are usually cargo claims for damages to the cargo on board the vessels. The Group is of the opinion that none of the on-going cases will lead to significant commitments for the Group.Since 2012 the Group has been subject of the global cartel inves-tigation in the PCTC industry, and this is still ongoing. The Group accepted a settlement of USD 21 million in a plea agreement in the United States of America in 2017, and it cannot be excluded that more fines and damage claims may come from this investigation in the future. Any potential fines or damage claims could be material for the Group.Update on alleged breaches of anti-trust regulations in BrazilOn 23 March 2022, The Administrative Council for Economic Defence (CADE) in Brazil issued a fine of approximately BRL 26 million (USD 4.7 million) to H\u00f6egh Autoliners for alleged breaches of anti-trust regulations dating back to 2000-2012. Since H\u00f6egh Autoliners did not have any turnover in Brazil in the relevant period, the fine is calculated on a \u201cvirtual turnover\u201d principle, based on Brazil\u2019s relevance in the worldwide PCTC market. The decision (including the \u201cvirtual turnover\u201d calculation) may be challenged before the Appellate Court in Brazil. H\u00f6egh Autoliners disa-grees with CADE\u2019s decision and after reviewing its merits, the Company has proceeded with an appeal. No provision has been made in the financial statements as of 31 December 2025.Note 23 \u2014 Commitments and guarantees Capital commitments At the end of 2025, the Group has capital commitments relating to a newbuilding contract for a total of twelve vessels with China Merchants Heavy Industry, whereof seven vessels have been delivered at year-end 2025. See note 7 for further details. The contract for twelve fixed vessels has a total value of USD 1.2 billion, of which USD 943 million is financed by loans and leases and the remaining USD 284 million from equity. As of 31 December 2025 a total of USD 262 million has been paid of the equity part and the remaining commitment to the yard is USD 421 million.GuaranteesH\u00f6egh Autoliners ASA has provided a bank guarantee of USD 7.2 million related to the ongoing case on alleged breaches of anti-trust regulations in Brazil. See note 22.The Group has not provided any guarantees for obligations of entities outside the Group.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__110": {
"value": "Note 23 \u2014 Commitments and guarantees Capital commitments At the end of 2025, the Group has capital commitments relating to a newbuilding contract for a total of twelve vessels with China Merchants Heavy Industry, whereof seven vessels have been delivered at year-end 2025. See note 7 for further details. The contract for twelve fixed vessels has a total value of USD 1.2 billion, of which USD 943 million is financed by loans and leases and the remaining USD 284 million from equity. As of 31 December 2025 a total of USD 262 million has been paid of the equity part and the remaining commitment to the yard is USD 421 million.GuaranteesH\u00f6egh Autoliners ASA has provided a bank guarantee of USD 7.2 million related to the ongoing case on alleged breaches of anti-trust regulations in Brazil. See note 22.The Group has not provided any guarantees for obligations of entities outside the Group.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__108": {
"value": "Accounting policiesContingent liabilities comprise:\u00b7 A possible obligation arising as a result of past events where the obligation depends on some uncertain future event\u00b7 A present obligation that is not recognised in the accounts since it is not probable that the obligation will result in a payment being made\u00b7 Liabilities that cannot be measured reliablyContingent liabilities are not recognised in the accounts except for contingent liabilities acquired as part of the purchase of a business. Contingent liabilities acquired as part of the purchase of a business are recognised in the accounts at fair value even if the liability is not likely to materialise. Contingent liabilities are not recognised in the financial statement, but if material, disclosed in the accompanying notes.A contingent asset is defined as a possible asset, that arises from past events, and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events, not wholly within the control of the entity. Contingent assets are not included in the annual accounts, but information is provided if there is a reasonable certainty that the benefit in question will accrue to the Group.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__112": {
"value": "Note 24 \u2014 Investment in associates and joint ventures Accounting policiesAssociated companies are all entities in which the Group has significant influence but not control, generally companies owned between 20% and 50%. Interests in associated companies are reported according to the equity method. The consolidated accounts include the Group\u2019s share of profit from associated companies accounted for according to the equity method from the date significant influence is achieved and until such influence ceases. The Group\u2019s share of its associates\u2019 profits and losses is presented net as a separate line, as part of operations in the statement of comprehensive income and is added to the capi-talised value of the investments together with its share of equity movement not recognised in the statement of comprehensive income. When the Group\u2019s share of the loss exceeds the invest-ment in an associated company, the Group reduces the carrying value to zero and further losses are not recorded unless the Group has an obligation or an intention to cover this loss.The Group has investments in the following associates and joint ventures accounted for using the equity method.Voting share/ Voting share/ Carrying Carrying ownership % ownership % Nature of amount 2025amount 2024Company31.12.202531.12.2024relationship Country(USD 1 000)(USD 1 000)H\u00f6egh Northern Terminal Ltd. 50 50 Joint venture UK - - ParCar AS *- 36.45 Associate Norway 41 4 756 Sum 41 4 756 * ParCar AS was liquidated in late 2025. A small portion of liquidation dividend is still outstanding at year-end 2025.Specified financial information - ParCar AS is a company investing in a shipowning company providing the vessel H\u00f6egh Copenhagen on a bareboat lease to H\u00f6egh Autoliners Shipping AS until she was sold from ParCar to H\u00f6egh Autoliners in August 2025.Reconciliation to carrying amounts (USD 1 000): ParCar GroupNet assets 31.12.2023 13 607 Other adjustments* (1 457)Profit/(loss) for the period 2 799 Dividends paid (1 900)Net assets 31.12.2024 13 049 Group share in % 36.45 %Group's share 4 756 Carrying amount 31.12.2024 4 756 Net assets 31.12.2024 13 049 Other adjustments* 1 600 Profit/(loss) for the period (487)Dividends paid (14 050) Net assets 31.12.2025 111 Group share in % 36.45 %Group's share 41 Carrying amount 31.12.2025 41 * Mainly currency translation differencesProfit/(loss) 2025 Summarised financial information (USD 1 000) Assets Liabilities Equity Revenuesfor the yearParCar Group * 1 898 1 786 111 - (487)* Figures from liquidation accounts October 2025Profit/(loss) 2024 Summarised financial information (USD 1 000) Assets Liabilities Equity Revenuesfor the yearParCar Group * 40 245 27 394 12 851 - 2 799 * Figures from audited financial statements 2024The following illustrates summarised financial information of the Group\u2019s investment in associated companies :Investment in associates (USD 1 000) 2025 2024Carrying amount 41 4 756 Profit/(loss) (179) 1 020 Currency translation differences (OCI) 585 (531)Total carrying amount of investments in associates 31.12. 41 4 756",
"dimensions": {
"concept": "ifrs-full:DisclosureOfJointVenturesExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__111": {
"value": "Note 24 \u2014 Investment in associates and joint ventures Accounting policiesAssociated companies are all entities in which the Group has significant influence but not control, generally companies owned between 20% and 50%. Interests in associated companies are reported according to the equity method. The consolidated accounts include the Group\u2019s share of profit from associated companies accounted for according to the equity method from the date significant influence is achieved and until such influence ceases. The Group\u2019s share of its associates\u2019 profits and losses is presented net as a separate line, as part of operations in the statement of comprehensive income and is added to the capi-talised value of the investments together with its share of equity movement not recognised in the statement of comprehensive income. When the Group\u2019s share of the loss exceeds the invest-ment in an associated company, the Group reduces the carrying value to zero and further losses are not recorded unless the Group has an obligation or an intention to cover this loss.The Group has investments in the following associates and joint ventures accounted for using the equity method.Voting share/ Voting share/ Carrying Carrying ownership % ownership % Nature of amount 2025amount 2024Company31.12.202531.12.2024relationship Country(USD 1 000)(USD 1 000)H\u00f6egh Northern Terminal Ltd. 50 50 Joint venture UK - - ParCar AS *- 36.45 Associate Norway 41 4 756 Sum 41 4 756 * ParCar AS was liquidated in late 2025. A small portion of liquidation dividend is still outstanding at year-end 2025.Specified financial information - ParCar AS is a company investing in a shipowning company providing the vessel H\u00f6egh Copenhagen on a bareboat lease to H\u00f6egh Autoliners Shipping AS until she was sold from ParCar to H\u00f6egh Autoliners in August 2025.Reconciliation to carrying amounts (USD 1 000): ParCar GroupNet assets 31.12.2023 13 607 Other adjustments* (1 457)Profit/(loss) for the period 2 799 Dividends paid (1 900)Net assets 31.12.2024 13 049 Group share in % 36.45 %Group's share 4 756 Carrying amount 31.12.2024 4 756 Net assets 31.12.2024 13 049 Other adjustments* 1 600 Profit/(loss) for the period (487)Dividends paid (14 050) Net assets 31.12.2025 111 Group share in % 36.45 %Group's share 41 Carrying amount 31.12.2025 41 * Mainly currency translation differencesProfit/(loss) 2025 Summarised financial information (USD 1 000) Assets Liabilities Equity Revenuesfor the yearParCar Group * 1 898 1 786 111 - (487)* Figures from liquidation accounts October 2025Profit/(loss) 2024 Summarised financial information (USD 1 000) Assets Liabilities Equity Revenuesfor the yearParCar Group * 40 245 27 394 12 851 - 2 799 * Figures from audited financial statements 2024The following illustrates summarised financial information of the Group\u2019s investment in associated companies :Investment in associates (USD 1 000) 2025 2024Carrying amount 41 4 756 Profit/(loss) (179) 1 020 Currency translation differences (OCI) 585 (531)Total carrying amount of investments in associates 31.12. 41 4 756",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__113": {
"value": "Accounting policiesAssociated companies are all entities in which the Group has significant influence but not control, generally companies owned between 20% and 50%. Interests in associated companies are reported according to the equity method. The consolidated accounts include the Group\u2019s share of profit from associated companies accounted for according to the equity method from the date significant influence is achieved and until such influence ceases. The Group\u2019s share of its associates\u2019 profits and losses is presented net as a separate line, as part of operations in the statement of comprehensive income and is added to the capi-talised value of the investments together with its share of equity movement not recognised in the statement of comprehensive income. When the Group\u2019s share of the loss exceeds the invest-ment in an associated company, the Group reduces the carrying value to zero and further losses are not recorded unless the Group has an obligation or an intention to cover this loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__115": {
"value": "Note 25 \u2014 List of subsidiariesOwner share % *PrincipalCompany Countryactivity2025 2024H\u00f6egh Autoliners ASA Norway Holding companyH\u00f6egh Autoliners Management AS Norway Management company 100 100 H\u00f6egh Autoliners Shipping Pte. Ltd. Singapore Ship owning company 100 100 HFS China Ltd. China Crewing office 51 51 HFS Philippines Inc.** Philippines Crewing office 25 25 H\u00f6egh Autoliners Logistics AS Norway Holding company 100 100 H\u00f6egh Autoliners S.A.S. (Former Autotrans Logistics) France Commercial operation 100 100 H\u00f6egh Autoliners B.V. The Netherlands Holding company 100 100 H\u00f6egh Autoliners Shipping AS Norway Ship owning company 100 100 Alliance Norfolk Trust USA Ship owning company 100 100 Alliance St. Louis Trust USA Ship owning company 100 100 Alliance Fairfax Trust USA Ship owning company 100 100 H\u00f6egh Autoliners Shipping II AS Norway SPV for entering into shipbuilding contracts 100 100 H\u00f6egh Autoliners Shipping 269-3 AS Norway SPV for entering into shipbuilding contracts 100 100 H\u00f6egh Autoliners Shipping 269-4 AS Norway SPV for entering into shipbuilding contracts 100 100 H\u00f6egh Autoliners Shipping 269-7 AS Norway SPV for entering into shipbuilding contracts 100 100 H\u00f6egh Autoliners Shipping 269-8 AS Norway SPV for entering into shipbuilding contracts 100 100 H\u00f6egh Autoliners Shipping 269-9 AS Norway SPV for entering into shipbuilding contracts 100 100 H\u00f6egh Autoliners Shipping 269-10 AS Norway SPV for entering into shipbuilding contracts 100 100 H\u00f6egh Autoliners Shipping 269-11 AS Norway SPV for entering into shipbuilding contracts 100 100 H\u00f6egh Autoliners Shipping 269-12 AS Norway SPV for entering into shipbuilding contracts 100 100 H\u00f6egh Autoliners AS Norway Commercial operation 100 100 Alliance Navigation LLC. USA Commercial operation 100 100 H\u00f6egh Autoliners Germany GmbH Germany Commercial operation 100 100 H\u00f6egh Autoliners Pty. Ltd. India Commercial operation 100 100 H\u00f6egh Autoliners K.K. Japan Commercial operation 100 100 H\u00f6egh Autoliners North America Inc. USA Commercial operation 100 100 H\u00f6egh Autoliners PTY Ltd. South Africa Commercial operation 100 100 H\u00f6egh Autoliners Spain S.L. Spain Commercial operation 100 100 Leif H\u00f6egh & Co China Ltd.*** China Commercial operation 100 100 H\u00f6egh Autoliners Panama S. A. Panama Commercial operation 100 100 Owner share % *PrincipalCompany Countryactivity2025 2024H\u00f6egh Technical Management Holding Pte Ltd. Singapore Holding company 100 100 H\u00f6egh Technical Management Inc. Philippines Management company 100 100 H\u00f6egh Autoliners Technical Operations AS Norway Management company 100 100 * For the above listed companies one share has one vote at the General Meeting. ** Although the maximum foreign ownership under Philippine law stands at 25 %, the terms of the agreement under which the entity was established, gives H\u00f6egh 100 % control over HFS Philippines Inc. consequently, H\u00f6egh consolidates this entity.*** The operation in China takes place from this company in the name H\u00f6egh Autoliners ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f0__s7__6__116": {
"value": "Note 26 \u2014 Events after the balance sheet date DividendOn 24 February 2026, the Board of Directors resolved to distribute a dividend of USD 0.5189 per share. The dividend was paid out in March 2026.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:549300D7GNMPKTA4HD46",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
}
}
}