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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
Australian Dollar
“$0.62”
Period
No period stated
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
The following reflects the foreign currency exchange rates as of January 31, 2025 that the Company used in its first quarter and full year 2025 guidance.             Current Guidance Euro   $ 1.04 British pound   $ 1.24 Australian Dollar   $ 0.62 Canadian Dollar   $ 0.69 Fuel The Company reported fuel expense of $160 million in the quarter. Fuel price per metric ton, net of hedges, decreased to $641 from $726 in 2023. Fuel consumption of 250,000 metric tons was in-line with projections. The following reflects the Company’s expectations regarding fuel consumption and pricing, along with accompanying sensitivities.                     First Quarter 2025   Full Year 2025   Fuel consumption in metric tons 1     255,000     990,000   Fuel price per metric ton, net of hedges 2   $ 690   $ 722   Effect on Adjusted EPS of a 10% change in fuel prices, net of hedges   $ 0.01   $ 0.06   ____________________ (1) Total fuel consumption for the full year 2025 is expected to be comprised mainly of heavy fuel oil and marine gas oil, as well as other fuel types. (2) Fuel prices are based on forward curves as of 2/11/2025. As of December 31, 2024, the Company had hedged approximately 56% and 21% of its total projected metric tons of fuel consumption for 2025 and 2026, respectively. We primarily hedge heavy fuel oil (“HFO”) and marine gas oil (“MGO”). Other fuel types are unhedged. The following table provides amounts hedged and price per m
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.