Norwegian Cruise Line Going Strong

Norwegian Cruise Line reported strong performance for the quarter ended September 30, 2014 posting 13.7% revenue increase up to USD 907.0 million.

For the third quarter of 2014, the company reported a 29.1% increase in adjusted EPS to USD 1.11, on adjusted net income of USD 232.2 million, compared to USD 0.86, on adjusted net income of USD 182.2 million, for the same period in 2013.
 

 “Our results this quarter mark an important milestone in Norwegian’s evolution as we report growth in trailing twelve month Adjusted EBITDA for the 25th consecutive quarter coupled with our consistent margin improvement,” said Kevin Sheehan, president and chief executive officer of Norwegian Cruise Line Holdings Ltd.
 
“In that more than six year period, Norwegian’s Adjusted EBITDA has grown at an industry-leading compound annual growth rate of 23% with a commensurate margin expansion of over 1,600 basis points to 27.6%, with future expansion expected as we continue to successfully execute on our strategies,” continued Sheehan.

Net revenue in the period increased 16.5% to USD 694.4 million driven by a 13.1% increase in capacity days and a 3.0% improvement in net yield.

The company attributed the increase in capacity days to the addition of Norwegian Getaway, which entered the fleet in January 2014.

“The net yield improvement was due to higher net ticket and onboard and other revenue. Revenue for the period increased to USD 907.0 million from USD 797.9 million in 2013,” Norwegian added.
 

  “We are confident that we will achieve our target of over 60% growth in full year Adjusted EPS that we established at the beginning of the year. This achievement will once again demonstrate our resilience and ability to deliver consistent financial performance despite the external headwinds that occurred throughout the year,” said Sheehan.

The financial highlights for the quarter included  Norwegian Cruise Line agreement to acquire Prestige Cruises International, Inc. with the transaction expected to close in the fourth quarter of 2014.

Press Release