Viking Cruise Line recently held its first earnings call as a public company, and the results were highly positive. The company reported a significant increase in revenue for the first quarter of the year, with a year-over-year growth from $629 million to $718 million, marking a 14% increase.
During the earnings call, Viking shared details about its booking curve for the upcoming years. The company revealed that it is already 91% booked for 2024, with $4.6 billion in advanced bookings, showing a 15% increase from the previous year. Looking ahead to 2025, Viking is 39% booked, with $2.5 billion in advanced bookings, indicating a 27% year-over-year increase. CEO Tor Hagen mentioned that cruises are being booked at “attractive” prices, further adding to the positive outlook for the company.
One notable aspect of Viking’s approach is its decision not to provide earnings and revenue guidance like many other public companies. According to Hagen, Viking believes in taking a long-term view of the business and creating shareholder value, rather than managing the business for short-term earnings. This strategy aligns with the company’s commitment to sustainable growth and long-term success.
Despite a slight dip in occupancy for river cruises, Viking’s overall performance in the first quarter was strong. The company’s Q1 net loss widened due to a one-time derivative loss, but when excluding this impact, Viking reported a relatively robust financial quarter. The company also has ambitious expansion plans, with multiple river and ocean ships scheduled for delivery through 2030.
Viking Cruises has demonstrated resilience and growth potential in the competitive cruise industry. With strong booking numbers, a solid financial performance, and a strategic focus on long-term value creation, the company is well-positioned for continued success. By maintaining its commitment to excellence and innovation, Viking is poised to become a leader in the global cruise market.
Leave a Reply