Despite adjusting its earnings forecast downward for the second time this year, it still looks like 2011 will be one of the best years in the company’s history, according to Richard Fain, CEO and Chairman of Royal Caribbean Cruises.
Fain said while bookings and yield in the Eastern Mediterranean and Asia have suffered, the yield performance in the Caribbean, Alaska and Northern Europe was strong, and that booking volumes are up for each of the next six quarters. He also pointed out that while the company continues to face inflationary pressures in food and transportation, this has been offset by cost reductions in other areas.
In related developments, RCL’s board has voted to reinstate quarterly dividend payments and has declared a quarterly dividend of $0.10 per share payable to shareholders of record at the close of business on Aug. 12, 2011.
Royal Caribbean reported net income of $93.5 million, or $0.43 per share, on revenues of $1.8 billion for the second quarter ended June 30, 211, compared to net income of $60.5 million, or $0.28 per share, on revenues of $1.6 billion last year.
NCL Q2 Results
Norwegian Cruise Line (NCL) has reported net income of $29.2 million on revenues of $568.6 million for the second quarter ended June 30, 2011, compared to a net loss of $15.0 million on revenues of $477.9 million for the same period last year.
According to NCL, its EBITDA was up 29 percent to $123.5 million from $95.7 million the year before on what it called improved revenue performance and business improvement initiatives.
The latest orders bring the current orderbook to a total of 20 ships to be delivered through 2016, of which 10 are being built for North American brands and 10 for European brands. In addition, the North American brands are deploying more ships in Europe sourcing more of their passengers there.
Carnival Corporation ordered three ships, one for Costa for 2014 delivery from Fincantieri, to replace capacity from the sale of certain older Costa ships, and two for AIDA, going to Mitsubishi Heavy Industries in Japan at considerably lower prices than its current newbuildings.
For the full reports, please read the Aug. 11, 2011 edition of Cruise Industry News, the Newsletter, click here to subscribe