Norwegian cruise line triples profits to 302 m a

Norwegian Cruise Line (NCL) earned a net profit of 342,6 million dollars (302,1 million euros) for 2014, which means multiplying by 3.3 times earnings of 102.8 million dollars (90.6 million euros) last year, reported the U.S. shipping company.

“If we take into account the achievements made during the past year, clearly 2014 to be remembered as a year of strong growth and expansion that changed the rules of the game of the company”, has valued the Chairman and Managing Director of the shipping company, Kevin Sheehan.

Excluding costs associated with the acquisition of Prestige Cruise Holdings and other items, the shipping company recorded a net profit adjusted 480,6 million dollars (423,8 million euros), up 62.4% more than reported a year earlier.

Annual turnover brushed the 2.4 billion dollars (2.117 billion euros), a 25.5% more than in 2013, driven by an increase of 19.8% of the days of capacity along with the improvement of 4.8% of the adjusted yield net.

The company explained that increasing capacity is due to the incorporation to its fleet of the Norwegian Breakaway and the Norwegian Getaway in April 2013 and in January 2014, respectively, as well as the sum of the days of the Prestige Cruise Holding capacity.

As reported HOSTELTUR tourism news in complete the acquisition of Prestige Cruises NCL, the shipping company completed on November 20 the purchase of Prestige Cruises International, matrix of Oceania Cruises and Regent Seven Seas Cruises Cruises, more than 3,025 million dollars (2,434 million euros) in cash, more stock and the assumption of debt.

Increase in costs

Adjusted net cost of the Cruiser per day of capacity excluding fuel increased by 9.9%. The price of fuel per metric ton, free coverage, was 656 dollars (578 euro).

The company experienced a negative impact in 2014 from 10.3 million dollars in its portfolio of coverage because of recent reductions in the prices of fuel in comparison with a profit of 4.7 billion in 2013. The price of the fuel per metric ton, taking into account the impact of Hedges, fell to 625 dollars, compared to 675 dollars from 2013. The fuel consumption per day of capacity of the shipping company fell 3.1%.

The net interest expense rose to 56.4 million dollars (49.7 million euros), which means doubling the costs mainly by the acquisition of Prestige and interest expense related to the additional debt incurred in connection with the acquisition.

As of December 31, the company had covered approximately 68%, 55%, 39% and 8% of purchases of metric tons of fuel foreseen for 2015, 2016, 2017 and 2018 respectively.

With respect to the fourth quarter, recorded losses of 25.6 million dollars (22.5 million euros), against a profit of 36.4 million dollars (32 million euros). Adjusted profit was 77.6 million dollars (68.4 million euros), excluding costs related to the debt as other costs associated with the purchase of Prestige

looking to 2015, Norwegian Cruise Line plans to its larger frame and the first of its kind Breakaway Plus, Norweguian Epic, in October 2015. In addition, it will add to its fleet the Ocean Princess, now in the process of reform, and which will be delivered in March 2016. Finally, the company has Seven Seas Explorer of new construction.

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Posted by on Feb 19 2015. Filed under General. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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