Norway · Delayed Price · Currency is NOK Norwegian Air Shuttle ASA Earnings Call Transcripts
Fiscal Year 2026
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EBIT excluding one-offs was NOK 213 million, but net profit was NOK -555 million due to a NOK 733 million EU ETS loss and higher fuel costs. Widerøe delivered strong operational results, and the acquisition of NLTG is set to expand offerings and drive synergies. Liquidity remains robust at NOK 13.7 billion.
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The acquisition expands presence in the Nordic leisure travel market, leveraging synergies in fleet, network, and hotel offerings. Financing is a mix of shares, cash, and bonds, with integration focused on operational efficiency and margin uplift by 2027.
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EBIT loss narrowed significantly year-over-year, with record load factors and strong cash flow. Bookings and yields are ahead of last year, supported by cost initiatives and robust demand for European routes. Ongoing fuel price volatility and labor negotiations remain key risks.
Fiscal Year 2025
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Record EBIT and strong margins achieved in 2025, with robust passenger growth, improved operational performance, and a solid liquidity position. Capacity and profitability are set to rise in 2026, supported by fleet expansion, cost control, and new distribution initiatives.
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Record EBITDA and net profit driven by strong passenger growth, cost control, and fleet renewal. Dividend paid for the first time, with robust liquidity and improved equity ratio. Outlook remains positive despite rising costs and industry-wide capacity reductions.
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Q2 2025 saw record profitability, strong revenue growth, and the first-ever dividend, driven by higher yields, increased load factors, and successful integration of Widerøe. Liquidity and balance sheet strength support ongoing growth, with cost initiatives and market share gains positioning the group for continued success.
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Q1 2025 saw a seasonal EBIT loss, but strong liquidity, cost reductions from aircraft acquisitions, and robust summer bookings. Passenger growth and improved load factors were reported, with Program X targeting NOK 1 billion+ profit improvement by 2026.
Fiscal Year 2024
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Q4 revenue rose 39% year-over-year to NOK 8.2 billion, driven by the Widerøe acquisition and capacity growth. Full-year EBIT reached NOK 1.873 billion, with strong cash and liquidity. Program X aims to boost profitability and synergies in 2025.
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Q3 2024 saw record EBIT and strong cash flow, with Widerøe now profitable and synergies expected to grow. Boeing delivery delays will limit 2025 growth, shifting focus to cost control and operational efficiency. Forward bookings and demand remain robust.
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Q2 2024 saw strong revenue growth and improved liquidity, but profit declined year-over-year due to cost pressures, market softening, and Boeing delivery delays. Widerøe outperformed expectations, and integration synergies are expected to materialize in 2025.