NCLH 'confident about future' despite posting Q1 loss 

Norwegian Cruise Line Holdings (NCLH) says it is confident about its future despite reporting "a softening” in its 12-month forward booked position.

The group, which comprises Norwegian Cruise Line, Oceania Cruises and Regent Seven Sea Cruises, stressed its booked position “continues to remain within the optimal range, even amid ongoing macroeconomic volatility” as it reported slight year-on-year decline in first-quarter revenues.

Occupancy for the group stood at 101.5% for the first quarter, in line with its guidance, but it was down year on year due to dry-dock capacity and repositioning days on large vessels.

The advance ticket sales balance, including for long-term bookings, sat at $3.9 billion, marking an increase of 2.6% year on year.

The cruise group also registered $2.1 billion in revenue, a 3% decrease compared to the same period last year, which it attributed to reduced capacity days due to larger ships being in dry dock.

NCLH reported a net loss of $40.3 million, which is down $57.6 million compared to last year.

Adjusted Ebitda, a measure of profit, was $453 million above guidance although it declined by 2% on the same period on 2024, and NCLH maintained its full-year guidance on this metric.

Looking to the full year, NCLH upgraded its full-year net yield and adjusted net cruise guidance to reflect “recent booking trends and changes in the macroeconomic environment”.

President and chief executive officer Harry Sommer said: “We kicked off 2025 with solid first quarter results, demonstrating the continued momentum of our Charting the Course strategy in building a strong foundation for long-term success and delivering on our vision for guests."

He added the company had welcomed its first Prima Plus Class vessel, Norwegian Aqua, had completed an “impactful refurbishment” on Norwegian Bliss and Norwegian Breakaway and announced expansion at Great Stirrup Cay during the quarter.

Sommer said: “Looking ahead, our proven track record of long-term net yield growth, strong cost control, continued record guest satisfaction scores and guest repeat rates give us confidence about our future.

“Thus, as we remain mindful of the evolving macroeconomic environment and despite recent volatility, we are maintaining our full-year 2025 Adjusted Ebitda and Adjusted EPS guidance.

“While we recognise there may be potential pressures on the top line, we believe these can be effectively offset by the continued execution of our cost savings initiatives.”