Capacity increase sees profits rise at Norwegian Cruise Line Holdings | News

Norwegian Cruise Line Holdings has reported GAAP net income was $756 million for financial 2017, up from $633 million the previous year.

Earnings per share for the period stood at $3.31 compared to $2.78 in the prior year. 

The company generated adjusted net Income of $908 million or adjusted earnings per share of $3.96, compared to $776.3 million or $3.41 in the prior year, despite unprecedented weather-related headwinds experienced in 2017.

“The strong, record performance we delivered in 2017 was the perfect end to a historic year as we celebrate the five-year anniversary of our initial public offering.

“Over the last five years we have continued our track record of consistent financial performance with a more than six-fold increase in earnings per share, a doubling of revenue and the expansion of adjusted ROIC to double-digit levels,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings.

“It has been a remarkable journey for our company with more major milestones to come and an amazing trajectory of profit growth for 2018 and beyond.

“Our solid revenue and earnings performance will continue in 2018, having entered the year in the best booked position in our Company’s history with pricing above prior year across all three of our brands.”

Revenue at the group – which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises – increased 10.7 per cent to $5.4 billion, compared to $4.9 billion in 2016.

Net revenue increased 11.2 per cent to $4.2 billion, compared to $3.8 billion in 2016.

These increases were primarily attributed to a six per cent increase in capacity days due to the delivery of Norwegian Joy in April 2017, Regent’s Seven Seas Explorer in June 2016 and Oceania Cruises’ Sirena in April 2016 and strong organic pricing growth across all core markets.

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