Norwegian Cruise Line Holdings, the world’s third largest cruise shipping company, has reported a rise in third quarter and nine month interims on strong demand cruises in the Western Hemisphere.
Group net profit rose to $251.8 million in the third quarter from $201.0 million in the same period last year, Revenues increased to $1.28 billion from $907.0 million. All figures were also boosted by the acquisition of Prestige Cruise Holdings late last year.
In the nine months to 30 September, net profit rose to $388.8 million from $363.9 million, while revenues increased to $3.30 billion from $2.34 billion.
On a combined company basis, which compares current results against the combined results of Norwegian and Prestige in the prior year, Adjusted Net Yield increased 2.2%, (4.7% on a Constant Currency basis), reflecting improved pricing in the quarter which was driven by strength in the Caribbean, Bermuda and Alaska itineraries, partially offset by softness in certain Eastern Mediterranean itineraries.
“The continued momentum from our revenue enhancement strategies resulted in net yield growth of approximately 5% driving strong earnings performance in the quarter,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings (NCLH) in a statement.
“What is most impressive is that this yield performance was driven purely by organic growth, demonstrating that robust topline growth need not be predicated solely on the addition of new ships to our fleet.”
Adjusted earnings per share (EPS) increased 22% over prior year to $1.35and was at the top end of the Company’s guidance range, benefiting from solid Net Yield performance. On a GAAP basis, net income was $251.8 million, or $1.09 per share compared to $201.1 million or $0.97 per share in the prior year.
Adjusted Net Yield improved 19.8% (22.7% on a Constant Currency basis) mainly due to the acquisition of Prestige Cruise Holdings, which occurred in the fourth quarter of 2014.
