Norwegian results reveal 'healthy growth'

Norwegian results reveal 'healthy growth'

Higher fares enabled Norwegian Cruise Line to raise operating income by more than 14% to $87 million in the three months to June 30.

Adjusted EBITDA rose by 8.6% to $135.1 million, Net profit increased by 23.3% to $36 million on revenue of $583.2 million, up from $29.2 million on revenue of $568.6 million for the same period in 2011.

Costs reduced by 1.3% as a result of business improvements coupled with the timing of repairs and maintenance of ships. This more than offset a 15% rise in the metric ton cost of fuel to $684, the company said.

Chief executive Kevin Sheehan said: "Our financial results for the quarter demonstrate healthy top line growth, albeit moderated by the impacts from pressures surrounding Europe.

“As expected, our deployment which includes a record four ships in Europe, benefited the top line through higher ticket revenue with a slight offset in onboard spend.

"And the benefits from business improvement initiatives not only contributed to our financial results, but also to our ongoing commitment in improving the experience of our guests.”

Commenting on new ship Norwegian Breakaway, currently under construction ahead of its launch from New York next May, Sheehan said: "Our goal is to make Norwegian Breakaway New York's ship and the first choice when cruising from this great city.

“New Yorkers are accustomed to the best, and by enlisting authentic Broadway entertainment such as Rock of Ages and partnering with acclaimed chef Geoffrey Zakarian on Ocean Blue, I'm positive that anyone looking for a taste of New York will feel right at home on Norwegian Breakaway."

The first steel cutting for sister ship Norwegian Getaway was held in conjunction with the keel laying of Norwegian Breakaway during the quarter.


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