From GlobeNewswire: 2025-04-30 06:30:00

Norwegian Cruise Line Holdings reported a solid first quarter performance with $2.1 billion in total revenue. Despite a net loss of ($40.3) million, the company maintained guidance for full year 2025 profitability. Adjusted EBITDA was $453 million, exceeding expectations. The company also announced new vessels, expanded amenities at Great Stirrup Cay, and strong cost control measures.

The first quarter of 2025 saw a 3% decrease in total revenue compared to the same period in 2024. Foreign exchange losses and a 2% decline in Capacity Days contributed to a net loss of ($40.3) million. Adjusted EBITDA was $453 million, slightly below guidance due to foreign exchange losses. Net Leverage increased to 5.7x, in line with expectations.

Norwegian Cruise Line successfully refinanced 2025 Exchangeable Notes and completed an equity offering of 3,358,098 ordinary shares. Long-term charter agreements for four vessels were executed, and plans to enhance offerings at Great Stirrup Cay were announced.

Looking ahead, the company expects some pressure on Net Yield but plans to offset this through cost savings measures. Full year 2025 guidance for Adjusted EBITDA and Adjusted EPS remains unchanged. The company remains committed to its 2026 financial targets and aims to end the year with Net Leverage at approximately 5x.

The company’s passenger occupancy for the first quarter of 2025 was 101.5%, with an increase in advance ticket sales balance. Despite macroeconomic volatility, the company is focused on optimizing its balance sheet and reducing Net Leverage. The quarter-end liquidity was $1.4 billion, including cash and cash equivalents and availability under the Revolving Loan Facility.

Norwegian Cruise Line announced the delivery of Norwegian Aqua, the first vessel in the cutting-edge Prima Plus Class. Plans for the Seven Seas Prestige ship were laid, and Norwegian Luna was floated out marking the second ship in the Prima Plus Class. The company’s conference call to discuss first quarter results is scheduled for April 30, 2025, at 8:00 a.m. Eastern Time.

Norwegian Cruise Line Holdings operates Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises, with a combined fleet of 33 ships and approximately 70,050 Berths. The company expects to add 12 additional ships through 2036. Adjusted EBITDA, Net Yield, and Net Per Diem are key performance metrics used by the company for evaluating its performance and planning future strategies.



Read more at GlobeNewswire:: Norwegian Cruise Line Holdings Reports First Quarter 2025