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Companies / Norwegian Cruise Line Holdings / Filing

Norwegian Cruise Line Holdings — Feb 27, 2025 release

Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001171843-25-001101
Open on SEC.gov ↗
Showing in the filing
Adjusted EBITDA
“approximately $2.72 billion”
Period
FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 59
Newbuild program vessels
“eight state-of-the-art vessels”
Newbuild program additional berths
“approximately 25,000”
Net Yield on a Constant Currency basis for FY2025
“approximately 3.0%”
Adjusted EBITDA for FY2025
“approximately $2.72 billion”
Adjusted Operational EBITDA Margin for FY2025
“approximately 37%”
Adjusted Net Income for FY2025
“approximately $1,065 million”
Adjusted Net Cruise Cost Excluding Fuel per … for Q1 FY2025
“~2.1%”
Net Leverage for Q1 FY2025
“~5.7x”
Net Leverage (year-end) for FY2025
“approximately 5x or better”
Net Yield (As Reported) for Q1 FY2025
“~$278”
Net Yield (Constant Currency) for Q1 FY2025
“~$279”
Net Yield (As Reported) for FY2025
“~$301”
Net Yield (Constant Currency) for FY2025
“~$303”
Adjusted Net Cruise Cost Excluding Fuel per … for Q1 FY2025
“~3.8%”
Adjusted Net Cruise Cost Excluding Fuel per … for Q1 FY2025
“~$171”
Adjusted Net Cruise Cost Excluding Fuel per … for FY2025
“~$161”
Adjusted Net Cruise Cost Excluding Fuel per … for FY2025
“~$162”
Capacity Days for Q1 FY2025
“~5.71 million”
Capacity Days for FY2025
“~24.55 million”
Occupancy for Q1 FY2025
“~101.5%”
Occupancy for FY2025
“~103.4%”
Adjusted EBITDA for Q1 FY2025
“~$435 million”
Adjusted Net Income for Q1 FY2025
“~$37 million”
Adjusted EPS for Q1 FY2025
“~$0.08”
Adjusted EPS for FY2025
“$2.05”
Diluted Weighted-Average Shares Outstanding for Q1 FY2025
“~441 million”
Diluted Weighted-Average Shares Outstanding for FY2025
“~520 million”
Depreciation and Amortization for Q1 FY2025
“~$230 million”
Depreciation and Amortization for FY2025
“~$985 million”
Adjusted Interest Expense, net for Q1 FY2025
“~$170 million”
Adjusted Interest Expense, net for FY2025
“~$700 million”
Euro
“$1.04”
British pound
“$1.24”
Australian Dollar
“$0.62”
Canadian Dollar
“$0.69”
Fuel consumption in metric tons for Q1 FY2025
“255,000”
Fuel consumption in metric tons for FY2025
“990,000”
Fuel price per metric ton, net of hedges for Q1 FY2025
“$690”
Fuel price per metric ton, net of hedges for FY2025
“$722”
Blended HFO and MGO Hedge Price / Metric Ton for FY2025
“$597”
Blended HFO and MGO Hedge Price / Metric Ton for FY2026
“$526”
Total % of Consumption Hedged for FY2025
“56 %”
Total % of Consumption Hedged for FY2026
“21 %”
Newbuild-and-Growth Capital Expenditures, Gr… for Q1 FY2025
“~$1,295”
Newbuild-and-Growth Capital Expenditures, Gr… for FY2027
“~$2.5”
Newbuild-and-Growth Capital Expenditures, Gr… for FY2025
“~$2.5”
Newbuild-and-Growth Capital Expenditures, Gr… for FY2026
“~$2.4”
Export Credit Financing for Newbuild-and-Gro… for Q1 FY2025
“~$850”
Export Credit Financing for Newbuild-and-Gro… for FY2026
“~$1.5”
Export Credit Financing for Newbuild-and-Gro… for FY2025
“~$1.5”
Export Credit Financing for Newbuild-and-Gro… for FY2027
“~$1.8”
Newbuild-and-Growth Capital Expenditures, Ne… for Q1 FY2025
“~$445”
Newbuild-and-Growth Capital Expenditures, Ne… for FY2026
“~$1.0”
Newbuild-and-Growth Capital Expenditures, Ne… for FY2025
“~$1.0”
Newbuild-and-Growth Capital Expenditures, Ne… for FY2027
“~$0.7”
Other Capital Expenditures for Q1 FY2025
“~$130”
Other Capital Expenditures for FY2025
“~$590”
Expected additional ships for FY2036
“13”
Expected additional berths from fleet expans… for FY2036
“approximately 41,000”
Exhibit 99.1 · the passage around this item
… earlier in the release
The Company successfully upsized its revolving credit facility from $1.2 billion to $1.7 billion, extending the tenor to 5-years with improved pricing. 2025 Outlook 2025 full year Net Yield guidance on a Constant Currency basis is expected to increase approximately 3.0% versus 2024. 2025 full year Adjusted EBITDA is expected to be approximately $2.72 billion, or an 11.0% increase versus 2024 including approximately $70 million of headwinds from foreign exchange and fuel since our third quarter earnings report. Adjusted Operational EBITDA Margin for the full year 2025 is expected to increase to approximately 37%. 2025 Adjusted Net Cruise Cost excluding Fuel per Capacity Day is expected to grow 1.25% on a Constant Currency basis versus 2024. Full year Adjusted Net Income is expected to be approximately $1,065 million. Adjusted EPS is expected to be $2.05, increasing approximately 13% year-over-year. Net Leverage is expected to end the year at approximately 5x or better. Remain committed to Charting the Course targets; progressing towards achieving 2026 goals. First Quarter 2025 Outlook Net Yield is expected to increase approximately 0.5% on a Constant Currency basis versus the first quarter of 2024. This Net Yield growth comes on the back of 16.4% Net Yield growth in the first quarter of 2024 and an increase in Dry-dock capacity and repositioning days on large vessels, lowering year-over-year Occupancy. First quarter 2025 Adjusted Net Cruise Cost excluding Fuel per Capacity Day is expected to grow 3.9% in Constant Currency versus 2024,
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.