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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 Interest Expense, net
“~$700 million”
Period
FY2025
Measure
Company-defined measure
Source
Guidance table
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
            2025 Guidance   First Quarter 2025 Full Year 2025   As Reported Constant Currency As Reported Constant Currency           Net Yield ~0.1% ~$278 ~0.5% ~$279 ~2.4% ~$301 ~3.0% ~$303           Adjusted Net Cruise Cost Excluding Fuel per Capacity Day 1 ~3.8% ~$171 ~3.9% ~$171 ~0.9% ~$161 ~1.25% ~$162       Capacity Days ~5.71 million ~24.55 million       Occupancy ~101.5% ~103.4%       Adjusted EBITDA ~$435 million ~$2.72 billion       Adjusted Net Income ~$37 million ~$1,065 million       Adjusted EPS 2 ~$0.08 ~$2.05       Diluted Weighted-Average Shares Outstanding 3 ~441 million ~520 million       Depreciation and Amortization ~$230 million ~$985 million       Adjusted Interest Expense, net 4 ~$170 million ~$700 million       Effect of a 1% change in Net Yield on Adjusted EBITDA / Adjusted EPS ~$16 million ~$0.04 ~$74 million ~$0.14       Effect of a $1 change in Adjusted Net Cruise Cost Excluding Fuel per Capacity Day on Adjusted EBITDA / Adjusted EPS ~$6 million ~$0.01 ~$25 million ~$0.05       Effect of a 1% change in Foreign Exchange rates on Adjusted Net Income / Adjusted EPS ~$1.5 million ~$0.00 ~$6.4 million ~$0.01   ____________________ (1) Q1 2025 includes an approximate 180 basis point, or approximately $8 impact of increased Dry-dock days and related costs. Excluding this impact, the Adjusted Net Cruise Cost Excluding Fuel per Capacity Day would increase ~2.0% and ~2.1% on an as reported and Constant Currency basis, respectively, in the first quarter amounting to $163. We do not expect any year-over-year impact from Dry-docks in 2025. (2) Based on guidance and using diluted weighted-average shares outstanding of approximately 441 million for the first quarter of 2025 and 520 million for full year 2025. (3) Q1 2025 assumes all three of the Company’s exchangeable notes are anti-dilutive and therefore are not included in diluted weighted-average shares outstanding and full year 2025 assum
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.