NCLH reports record quarterly profit of $342.2 million

Details

Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 09 November 2016 09 November 2016

Norwegian Cruise Line Holding, Ltd (NCLH), the world’s third largest cruise shipping group that traces its origins to 1966, has reported a record quarterly profit in the third quarter of this year.

Net profit rose to $342.2 million from $251.8 million in the same period last year, while revenues increased to $1.48 billion from $1.28 billion.

In the first nine months of the year, the profit reached $560.8 million from $388.8 million a year earlier and revenues rose to $3.75 billion from $3.31 billion.

"Fast forward fifty years, where we have reached yet another milestone, reporting the highest single quarter revenue and earnings in our history, bolstered by the addition of Norwegian Escape, Oceania Cruises' Sirena and Seven Seas Explorer to our fleet," said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd.

Gross Cruise Cost increased 10.5% in 2016 compared to 2015 due to an increase in total cruise operating expense as a result of an increase in Capacity Days along with an increase in marketing expense. Gross Cruise Costs per Capacity Day decreased 3.0%. Adjusted Net Cruise Cost Excluding Fuel per Capacity Day increased 1.7% on both a Constant Currency and as reported basis primarily due an increase in marketing expenses.

Fuel price per metric ton, net of hedges decreased 11.5% to $500 from $565 in 2015. The Company reported fuel expense of $86.3 million in the period. In addition, a loss of $2.5 million was recorded in other expense in 2016 related to the ineffective portion of the Company's fuel hedge portfolio due to market volatility.

Interest expense, net increased to $60.7 million in 2016 from $49.8 million in 2015 primarily due to an increase in average debt balances outstanding primarily associated with the delivery of Norwegian Escape in October 2015 and Seven Seas Explorer in June 2016 as well as slightly higher interest rates due to an increase in LIBOR rates, the company said in a statement.

Lindblad third quarter net profit trebles to $7.6 million

Details

Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 07 November 2016 07 November 2016

Lindblad Expeditions Holdings, Inc. , the US based global provider of expedition cruises and adventure travel experiences, said its third quarter net profit almost trebled to $7.6 million on the same period last year.

Group net profit reached $7.6 million from $2.9 million while revenues rose to $70.7 million from $58.6 million.

In the first nine months of the year, the profit fell to $10.3 million from $20.5 million, when a $5 million extraordinary income item had klifed the bottom line. Revenues rose to $186.2 million from $163.5 million.

Sven-Olof Lindblad, President and Chief Executive Officer, said "Lindblad's ability to expand our Net Yield and maintain occupancy despite current headwinds speaks to the strength of our operating model and the appeal of our differentiated brand.”

“ While quarterly results can fluctuate depending on a variety of planned and unplanned factors, we remain confident in the long-term growth opportunity we have in front of us as we introduce new vessels and expand our itineraries to further capitalize on the growing demand for high quality, immersive expedition travel," h continued

Lindblad segment Net Yield increased 8% in the third quarter to $1,008 as compared to the same period a year ago, primarily as a result of increased pricing. The decline in Available Guest Nights was mainly due to the planned repositioning of certain vessels, as well as from the cancellation of a voyage on the National Geographic Orion for unplanned maintenance. Occupancy increased to 90.8% compared with 90.5% in the third quarter of 2015, the company said in a statement.