Skift Take
NCL's is showing some momentum after completing its first year as a public company with the introduction of the Norwegian Breakaway, and the decision to homeport its new Norwegian Getaway in Miami.
Norwegian Cruise Line saw its fourth quarter and full-year 2013 financial results bumped up by the introduction of the Norwegian Breakaway in May.
The cruise line, which executed an IPO in January, saw fourth quarter net income rise to $36.4 million, up from $1.05 million a year earlier.
Revenue for the fourth quarter increased 19.3% to $600.3 million, and NCL attributed the revenue bump to the introduction of the Norwegian Breakaway, the line’s first Breakaway class ship, and a 4.8% increase in net yield.
For full-year 2013, net income declined 39% to $102.9 million, largely due to 16.5% to $647.2 million on a revenue jump of 12.9% to $2.6 billion. The drop in net income was due in part to prepayment and refinancing debt related to NCL’s IPO.
Revenue for the full year increased 12.9% to $2.6 billion based on the introduction of the Norwegian Breakaway, a rise in net yields to 4.3%, as well as higher fares and increased onboard spending.
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Photo credit: In this May 8, 2013, file photo, people pause to look at Norwegian Cruise Line's new ship, Norwegian Breakaway, on the Hudson River, in New York. A 4-year-old child died after being pulled unresponsive from a swimming pool on the Norwegian Breakaway, off the coast of North Carolina on Monday, Feb. 3, 2014, cruise line and Coast Guard officials said. Richard Drew / Associated Press