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27 November 2020 The on-line newspaper devoted to the world of transports 15:24 GMT+1

May 14, 2020

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Original news
The NCLH cruise group closes the first quarter an unprecedented net loss, higher than revenues

The volume of business fell by -11.2% and the result net negative economic rate amounted to -1.88 billion Dollars

The three Norwegian Cruise Line, Oceania Cruises and Regent companies Seven Seas Cruises have suspended their activities 13 March due to the impact on tourism pandemic in Covid-19, disrupting june 30. However, only half a month's lay-off was enough to have a strong negative effect on the economic performance obtained in the first quarter of this year by the parent company Norwegian Cruise Line Holdings (NCLH) posted an unprecedented net loss -1.88 billion dollars compared to a net profit of 118.2 billion million dollars in the first three months of 2019.

In the first quarter of 2020, the period in which ships operated by the group's three brands hosted 500,000 passengers with a down -22.5%, NCLH's revenues totaled 1.25 billion dollars (-11.2%), of which 840.8 million were generated from the sale cruises (-13.6%) 406.1 million from sales on board ships (-5.6%). Increased operating costs due to the increase in operating costs mainly the suspension of cruises, which have 994.3 million dollars, or 20.3%. Increasing the number of expenses also increased the cost of fuel which rose from 461 dollars/tonne in the first quarter of 2019 at 614 dollars/tonne in the first three months of 2020, a rise that has fuel costs totalling 125.0 million registered in this year's first quarterly budget. EBITDA and operating profit were both a sign -1.62 billion and -1.82 billion, respectively, respectively. dollar vs. positive results of 327.6 million and 158.3 million dollars in the first quarter of last year.

NCLH Chairman and CEO Frank Del Rio recalled that to strengthen the financial position of the in response to the impact of the pandemic in recent weeks capital increases totalling 2.4 million billions of dollars.

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