Record single quarter revenue, earnings for NCL’s parent company

Record single quarter revenue, earnings for NCL’s parent company

MIAMI — Norwegian Cruise Line Holdings Ltd. posted record single quarter revenue and earnings with its third quarter results.

The company generated net income of US$342.4 million compared to $251.8 million in Q3 2015. Adjusted net income was $369.3 million, up from $311.1 million.

Total revenue increased 15.6% to $1.5 billion, while gross yield increased 1.5%.
The Company expects to generate record earnings by the time its financial year is through.

“In 1966, the M/S Sunward departed on her first voyage from Miami to the Caribbean, marking not just the launch of Norwegian Cruise Line, but the modern cruise industry as we know it today,” said Frank Del Rio, President and CEO of Norwegian Cruise Line Holdings Ltd.

“Fast forward 50 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.”

Norwegian is on track to deliver “robust double-digit growth” in 2016, despite headwinds from geopolitical events earlier in the year which dampened demand for Mediterranean sailings, said Wendy Beck, Executive VP and CFO of Norwegian Cruise Line Holdings Ltd. “Looking to the first half of 2017, where deployment is weighted to Caribbean sailings, advanced bookings are ahead of prior year‘s record levels at higher prices, while an early look at the full year shows occupancy commensurate with prior year at this same time at slightly lower prices,” said Beck. “Recent significant weakening of certain foreign currencies, primarily the British Pound, against the U.S. dollar, combined with an increase in fuel prices have placed pressure on expectations for the coming year. Despite these headwinds, we still anticipate delivering double-digit growth … in 2017.”

Norwegian recently announced that the third ship in the line’s Breakaway Plus Class Ships, Norwegian Bliss, will be the first cruise ship custom-built with features and amenities for the “ultimate” Alaska cruise experience. Norwegian Bliss will also be the first Norwegian Cruise Line ship to make its debut in Seattle. Norwegian Bliss will be approximately 167,800 gross tons and accommodate 4,000 guests. The ship is scheduled for delivery in spring 2018.

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