| NCL swings to first quarter profit

Norwegian Cruise Line has
reported positive Q1 results.
REVERSING a US$7.9 million net loss this
time last year, NCL Corporation Ltd has
recorded a net profit of US$3.3 million for the
quarter ended 31 Mar 2012.
Norwegian’s revenue was US$515.4 million,
a 4% increase on the same period in 2011.
Net revenue grew 4.6% from an increase in
net yield and a 2.3% increase in capacity days.
Net yield also increased 2.2%, as a result of
higher average ticket pricing and increased
onboard revenue, particularly in tours and
gaming operations.
Operating income grew 23.8% to US$46.4
million, with adjusted EBITDA posting a 10.3%
increase to US$93.5 million, from strong
revenue performance and the benefits of
ongoing business improvement initiatives.
Costs increased slightly, by 0.6%, but
improved efficiencies offset a 15% increase in
the cost of fuel.
“It is always rewarding to report strong topto-
bottom results,” said Kevin Sheehan, NCL
president and ceo.
“Revenue growth was very positive,
considering the impact of redeploying
Norwegian Jade in late 2011 due to
geopolitical disruptions in Egypt and the
surrounding region,” he added.