Royal Caribbean Cruises Ltd (RCCL), the world’s second largest cruise shipping group, has reported record results for 2019 despite a weaker final quarter than in the previous year.
For the full year, net income rose to $1.90 billion from $1.18 billion and operating income reached $2.08 billion compared to $1.89 billion. Revenues rose to $10.95 billion from $9.49 billion.
Earnings per share in GAAP terms rose to $8.95 from $8.56.
However, in the final quarter, net income fell to $280.7 million from $320.4 million in the same period in 2018, while operating income contracted to $299.4 million from $364.0 million. Revenues increased to $2.52 billion from $2.33 billion.
Gross yields were up 8.2% in constant-currency and 7.0% as reported. Net Yields were up 8.0% and 6.7%, respectively.
Gross cruise costs per Available Passenger Cruise Days ("APCD") increased 8.7% in constant currency and by 8.0% as-reported. Net cruise costs ("NCC") excluding Fuel per APCD increased by 11.4% in constant currency and by 10.8% as reported,’ the company said in a statement.
