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Norwegian Cruise Line Holdings — Apr 30, 2025 release

Fiscal 2025 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001171843-25-002625
Open on SEC.gov ↗
Showing in the filing
Net Leverage
“approximately 5x”
Period
FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 52
Net Yield on a Constant Currency basis for FY2025
“between 2.0% and 3.0%”
Adjusted EBITDA for FY2025
“approximately $2.72 billion”
Adjusted EBITDA year-over-year increase for FY2025
“an 11.0% increase versus 2024”
Adjusted Operational EBITDA Margin for FY2025
“approximately 37%”
Adjusted Net Income for FY2025
“approximately $1,045 million”
Adjusted EPS year-over-year increase for FY2025
“increasing approximately 13% year-over-year”
Net Leverage for FY2025
“approximately 5x”
Adjusted Net Cruise Cost Excluding Fuel per … for Q2 FY2025
“~1.4%”
Capacity Days for Q2 FY2025
“~6.06 million”
Capacity Days for FY2025
“~24.545 million”
Occupancy for Q2 FY2025
“~103.2%”
Occupancy for FY2025
“~102.5%”
Adjusted EBITDA for Q2 FY2025
“~$670 million”
Adjusted Net Income for Q2 FY2025
“~$257 million”
Adjusted EPS for Q2 FY2025
“~$0.51”
Adjusted EPS for FY2025
“$2.05”
Diluted Weighted-Average Shares Outstanding for Q2 FY2025
“~508 million”
Diluted Weighted-Average Shares Outstanding for FY2025
“~511 million”
Depreciation and Amortization for Q2 FY2025
“~$245 million”
Depreciation and Amortization for FY2025
“~$985 million”
Adjusted Interest Expense, net for Q2 FY2025
“~$175 million”
Adjusted Interest Expense, net for FY2025
“~$700 million”
Euro
“$1.14”
British pound
“$1.33”
Australian Dollar
“$0.64”
Canadian Dollar
“$0.72”
Fuel consumption in metric tons for Q2 FY2025
“245,000”
Fuel consumption in metric tons for FY2025
“1,010,000”
Fuel price per metric ton, net of hedges for Q2 FY2025
“$680”
Fuel price per metric ton, net of hedges for FY2025
“$687”
Blended HFO and MGO Hedge Price / Metric Ton for FY2025
“$615”
Blended HFO and MGO Hedge Price / Metric Ton for FY2026
“$524”
Blended HFO and MGO Hedge Price / Metric Ton for FY2027
“$518”
Total % of Consumption Hedged for FY2025
“61 %”
Total % of Consumption Hedged for FY2026
“46 %”
Total % of Consumption Hedged for FY2027
“20 %”
Newbuild-and-Growth Capital Expenditures, Gr… for Q1 FY2025
“$1,361”
Newbuild-and-Growth Capital Expenditures, Gr… for FY2025
“~$2.6”
Newbuild-and-Growth Capital Expenditures, Gr… for FY2027
“~$2.5”
Newbuild-and-Growth Capital Expenditures, Gr… for FY2026
“~$2.5”
Export Credit Financing for Newbuild-and-Gro… for Q1 FY2025
“$893”
Export Credit Financing for Newbuild-and-Gro… for Q2 FY2025
“~$0”
Export Credit Financing for Newbuild-and-Gro… for FY2025
“~$1.6”
Export Credit Financing for Newbuild-and-Gro… for FY2026
“~$1.5”
Export Credit Financing for Newbuild-and-Gro… for FY2027
“~$1.9”
Newbuild-and-Growth Capital Expenditures, Ne… for Q1 FY2025
“$468”
Newbuild-and-Growth Capital Expenditures, Ne… for Q2 FY2025
“~$225”
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 (millions) for Q2 FY2025
“~$130”
Other Capital Expenditures (millions) for FY2025
“~$590”
Exhibit 99.1 · the passage around this item
… earlier in the release
“In April, we refinanced the majority of our 2025 Exchangeable Notes with new 2030 Exchangeable Notes in a shareholder-accretive transaction that reduced our diluted share count by approximately 15.5 million shares without increasing our Net Leverage,” said Mark A. Kempa, executive vice president and chief financial officer of Norwegian Cruise Line Holdings Ltd. “Reducing Net Leverage remains our top priority and we expect to end the year with Net Leverage at approximately 5x. Furthermore, our cost savings initiatives continue to deliver tangible results, positioning us well to cushion potential macroeconomic pressures.” Outlook and Guidance In addition to announcing the results for the first quarter 2025, the Company also provided guidance for the second quarter and full year 2025, along with accompanying sensitivities, subject to changes in the broad macroeconomic environment. The Company does not provide certain estimated future results on a GAAP basis because the Company is unable to predict, with reasonable certainty, the future movement of foreign exchange rates or the future impact of certain gains and charges. These items are uncertain and will depend on several factors, including industry conditions, and could be material to the Company’s results computed in accordance with GAAP. The Company has not provided reconciliations between the Company’s 2025 guidance and the most directly comparable GAAP measures because it would be too difficult to prepare a reliable U.S. GAAP quantitative reconciliation without unreasonable effort.             2025 Guidance   Second Quarter 2025 Full Year 2025   As Reported Constant Currency As Reported Constant Cur
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.