Carnival Corp & plc more than doubles second quarter net profit

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 23 June 2015 23 June 2015

Carnival Corporation & plc, the world’s large cruise shipping company, has reported a rise in net profit for the second quarter of its financial year to $222 million from $98 million in the same period last year. Revenues fell to $3.59 billion from $3.63 billion.

For the first six months of the current financial year, the net profit reached $271 million, up from $78 million in the same period a year earlier. Revenues declined to $7.12 billion from $7.22 billion.

Non-GAAP earnings per share came to $0.25 for the latest quarter, ip from $0.09 a year earlier, and also exceeded analysts abverage forecast of $0.16.

2Q Highlights

              2Q net revenue yields (net revenue per available lower berth day or “ALBD”) in constant dollars increased 4.1% compared to the prior year, which was better than the company’s guidance of up 2 to 3 percent

              2Q net cruise costs excluding fuel per ALBD in constant dollars increased 6.1% compared to the prior year primarily due to an increase in dry dock days and were better than March guidance, up 6.5 to 7.5% due to the timing of expenses between quarters

              2Q non-GAAP earnings per share (diluted) of $0.25, compared to $0.09 for the prior year Outlook

              At this time, cumulative advance bookings for the next three quarters are well ahead of the prior year at slightly lower prices due to transactional currency impacts

              FY 2015 net revenue yields on a constant currency basis are expected to be up 3 to 4% compared to the prior year (up 2 to 3 % in constant dollars)

              FY 2015 net cruise costs excluding fuel per ALBD in constant dollars are expected to be up approximately 3% compared to the prior year

              FY 2015 non-GAAP earnings per share (diluted) expected to be in the range of $2.35 to $2.50, compared to $1.93 for 2014

              3Q 2015 non-GAAP earnings per share (diluted) expected to be in the range of $1.56 to $1.60, compared to $1.58 for 3Q 2014 

Fincantieri cuts steel for MSC Seaside

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Written by Teijo Niemelä Teijo Niemelä

Category: Top Headlines Top Headlines

Published: 22 June 2015 22 June 2015

MSC Cruises, the world’s largest privately-owned global cruise line based in Geneva, and industry-leading shipyard Fincantieri, today cut the first steel for its next generation cruise ship named MSC Seaside.

In a ceremony held at Fincantieri’s shipyard in Monfalcone, Italy, MSC Cruises’ Executive Chairman Pierfrancesco Vago and Chief Executive Officer, Gianni Onorato, along with Fincantieri’s Chief Executive Officer, Giuseppe Bono, launched the cutting of the first steel of MSC Seaside.

MSC Cruises’ Executive Chairman Pierfrancesco Vago said: “Today, we have witnessed the beginning of the work on an extraordinary new ship, MSC Seaside. It is a ship that revolutionizes industry standards, with an audacious and innovative design that brings guests and sea closer. It is also a testament to MSC Cruises’ constant focus on innovation, as it is the fifth prototype ship we’ve designed.”

Vago added, “Moreover, MSC Seaside represents a key pillar in a $5.8 billion, seven-ship investment plan that will double our capacity by 2022. It also steps up our investment in Italy and marks our return to a partnership with Fincantieri, which is something that makes me particularly proud. In fact, the building of the new Seaside ships as well as our other current project with Fincantieri – the $225 million Renaissance Program – are just one example of how a global organization like MSC, of which MSC Cruises is part, plays a key role in the Italian economy.”  

Giuseppe Bono, CEO of Fincantieri, said: “This ceremony is unique for our Group and the Monfalcone shipyard. MSC Seaside will be the largest ship ever built in our shipyards, as well as the first we have ever constructed for MSC Cruises, whose strength - like ours - lies in being a truly global player in its industry. In MSC Seaside we have developed a brand new and highly ambitious project, and we look forward to building it. In two years we will celebrate with MSC Cruises a magnificent ship of which we will all be deeply proud.”

MSC Seaside will be based year-round in Miami and will sail a wide range of highly appealing Caribbean itineraries. In addition, MSC Cruises’ Miami-based cruise operations – which also includes the stunning MSC Divina, which will sail year-round from Miami starting November 2015 - will benefit from a newly renovated and expanded dedicated berth and terminal at PortMiami, signifying the company’s strong ambitions in the North American market and commitment to providing guests with best-in-class service.

Gianni Onorato, MSC Cruises CEO said: “For MSC Seaside, we chose a name that speaks of our vision for cruising in warm weather locations, the proximity with the sea, the joy of traveling, and discovering the wonders of sunny climates in a unique setting. We also call it ‘the ship that follows the sun’ and it will offer a truly remarkable experience for families, sun worshippers and adventurers.”

“In addition, MSC Seaside will spearhead our campaign to expand our presence in North America. MSC Cruises has the unique opportunity to provide North American guests with an outstanding ‘Mediterranean Style Cruise’ experience, and guests from around the world a unique setting as it will sail to the most sought-after destinations in the Caribbean.”

With a gross tonnage of 154,000 tons and the ability to accommodate up to 4,140 guests at double capacity, this new cruise ship will be the largest ever built by Fincantieri. The ship is set to arrive in Miami in December 2017, where she will also be christened, marking the first time an MSC Cruises’ ship is christened in the US. Sales for cruises on MSC Seaside will start approximately two years ahead of its inaugural season, to reflect the high demand for this unique product.

Large, spacious and designed for the utmost comfort, MSC Seaside will benefit from a bold design and leading-edge technology while boasting a 360° seafront promenade. In addition, the ship will be characterized by the most interactive and originally-designed aqua park at sea with five water slides and attractions for all ages.

The ship will feature open modular connected staterooms – convertible staterooms that can accommodate up to 10 people – for families and groups, as well as luxury suites with private Jacuzzis and hanging gardens. MSC Seaside will also boast an enhanced MSC Yacht Club with private solarium, lounge and pool. The public spaces of the ship will feature breathtaking views with a two-deck glass-walled atrium and panoramic exterior elevators. This ship will set a new standard in cruise vacations by seamlessly blending wide family offerings with distinct elegance, with a wide choice of indoor/outdoor dining and bars and beautifully designed entertainment spaces.

MSC Seaside is the first of two identical ships on order from Fincantieri, the second of which will  enter in to service in 2018. In addition, MSC Cruises has an option for an additional Seaside generation ship to be delivered by 2021.

MSC Seaside and her sister ship will set new standards for eco-friendliness, featuring Advanced Water Treatment (AWT) systems to remove pollutants and hazardous substances from waste water; garbage treatment plants for highly efficient solid waste management; scrubbers to reduce emissions; antifouling paints; and optimized hull lines, propellers and rudders to reduce drag and fuel consumption. In addition, the ships will have LED lighting, meaning lower energy demand and significantly lower fuel consumption, as well as advanced heat recovery plants to feed fresh water, laundry, swimming pools and  hot water. The ship is fully compliant with the Safe Return to Port requirement.

The company, which grew by 800 percent since 2004, carried 1.67 million guests in 2014 and reported strong financial results with a turnover of $1.7 billion. In addition, MSC Cruises is forecasting an additional 10 percent growth for 2015.