Havila Voyages announced a historic financial milestone for the second quarter of 2024, reporting increased revenues and a positive operating result for the first time in the company’s history, according to a press release.
The Norwegian cruise operator recorded a surplus of 58.4 million NOK, reflecting a significant turnaround from a loss of 15 million NOK during the same period last year.
“It is, of course, positive that we are seeing an increase in income and higher occupancy. This shows that we have a product that is gaining more recognition and that we have been able to deliver a good experience to those who have traveled with us,” said Bent Martini, CEO of Havila Voyages.
He added that the company is experiencing strong demand from both coastal communities and passengers, which bodes well for future sales and occupancy rates.
Revenues for Havila Voyages reached 369 million NOK in the second quarter, more than doubling from 172 million NOK in the same period of 2023. For the first half of 2024, the company’s revenues rose to 662 million NOK, up from 289 million NOK the previous year.
This growth is attributed to higher occupancy rates and increased average cabin revenue, marking a positive trend in the company’s performance, the company said.
The operating expenses for the quarter stood at 311 million NOK, resulting in the 58.4 million NOK positive operating result. In the first half of the year, the company also reported a positive operating result of 41 million NOK, a significant improvement from a 111 million NOK loss during the same period last year.
Martini highlighted the importance of this achievement, and added: “It is very gratifying to present a positive operating result. It is important for the company and its owners that we have reached this point after a challenging start to Havila Voyages’ history.”
In addition to financial improvements, Havila Voyages reported operational successes, including a fleet uptime of 94% and a 36% reduction in CO2 emissions compared to 2017 benchmarks. The company also made strides in sustainability, with onboard dining venues producing just 70 grams of food waste per passenger cruise night.
“The requirement in the agreement with the Ministry of Transport is a 25% CO2 reduction compared to 2017, and we are proud to deliver well above that requirement,” Martini noted.
