Norwegian Cruise Line Holdings has reported financial results for the fourth quarter and full year of 2022, forecasting historically high bookings for the second quarter of 2023.
NCL has entered 2023 with a bang, with occupancy expected to reach 100% of 2019 levels during Q1 and to surpass the highest-ever levels by Q2. Capacity is expected to increase approximately 19% compared with 2019, including the delivery of three new builds in 2023: Oceania Cruises’ Vista, Norwegian Viva and Regent’s Seven Seas Grandeur.
Norwegian has taken several steps in recent months to improve operating efficiencies, reduce costs, and maximise revenue opportunities. As a result, operating efficiency and cost reduction efforts are expected to decrease cruise costs by nearly 15%.
“2022 was an eventful year, as we successfully completed our nearly year-long Great Cruise Comeback, welcomed our newest ship, Norwegian Prima, to our world-class fleet, and achieved several key milestones on our post-pandemic financial recovery,” says Frank Del Rio, President and CEO of Norwegian Cruise Line Holdings.
A highlight of Q4 2022 was the total revenue per passenger cruise day, which exceeded expectations to reach 23% of 2019 levels. Total revenue was US$1,5m (R27,3m) with a nett loss of $482,5m (R8,77bn).
For the full year of 2022, nett loss was $2,3bn (R41,79bn) compared with a nett loss of $4,5bn (R81,76bn) in 2021.
“We are now squarely focused on the future and are taking deliberate and strategic actions to best position the company for its next chapter, which includes an industry-leading growth profile representing approximately 50% capacity growth over 2019,” says Del Rio.
