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New ships boost Norwegian Cruise Line’s second quarter

Adjusted EBITDA improves 44% in second quarter results

Norwegian Escape and Norwegian Bliss are two of the four ships on order
Norwegian Escape and Norwegian Bliss are two of the four ships on order

Norwegian Cruise Line’s new Breakaway-class ships have helped the cruise line double its earnings for its second quarter results.

The line’s second quarter figures, for the three months up to 30 June 2014, showed its adjusted EBITDA increased 44% to US$219.4 million while its revenue went up 18.9% to US$765.9m.

Its new ships helped increase its capacity days by 19.6% and was partially offset by the planned dry-dock of Norwegian Jewel.

“This quarter marks the first full quarter with both Breakaway-class ships in operation,” said Kevin Sheehan, president and chief executive officer of Norwegian Cruise Line. “Along with Norwegian Epic, these newer, premium, earnings-rich ships now comprise a little over a third of our capacity and contributed to the doubling of earnings in the quarter.”

This year the line is expected to spend US$810,496 on ship construction followed by US$975, 971 next year and another US$116, 463 in 2016 as it prepares for the delivery of Norwegian Escape, Norwegian Bliss and two other vessels. Escape is scheduled to join the fleet in October 2015.

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