Norway · Delayed Price · Currency is NOK Havila Kystruten AS Earnings Call Transcripts
Fiscal Year 2025
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EBITDA doubled to NOK 400 million in 2025 on 17% revenue growth, with strong operational uptime and sustainability achievements. Bookings and profitability targets for 2026 are ahead of last year, supported by refinancing and cost efficiencies.
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Q3 2025 saw 13% revenue growth, record-high occupancy, and a major refinancing that halved interest costs. Strong bookings and higher margins are expected for 2026, with ambitious EBITDA and sustainability targets supported by robust demand and operational improvements.
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Q2 2025 saw 22% revenue growth, 19% EBITDA margin, and 74% occupancy, with strong gains in average cabin revenue and sustainability achievements. LNG costs are set to drop 10% from Q4, and refinancing efforts are underway, targeting NOK 400 million EBITDA for 2025.
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Q1 2025 saw a return to positive EBITDA, strong direct sales growth, and a younger, broader customer base. Guidance for 2025 is EBITDA above NOK 400 million, with refinancing preparations progressing and favorable market trends supporting future growth.
Fiscal Year 2024
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Revenue reached NOK 1.5 billion in 2024 with EBITDA of NOK 290 million and a 40% margin, driven by higher occupancy, increased cabin rates, and strong ESG performance. Pre-bookings for 2025 are at 54% capacity, supporting an EBITDA target of NOK 400-500 million.
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Q3 2024 saw a turnaround to positive EBITDA, strong occupancy, and robust average cabin rate growth. Guidance for 2025 and 2026 targets significant EBITDA and margin expansion, supported by high customer satisfaction and strong booking trends.
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Q2 2024 marked the first positive EBITDA, driven by revenue growth and operational improvements. Occupancy and pricing improved, with strong bookings for 2025 and a focus on sustainability and refinancing to lower interest costs.