Higher net yields drove Genting Hong Kong cruise EBITDA higher in 2019
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 01 April 2020 01 April 2020
Genting Hong Kong, the listed parent company of Dream Cruise, Star Cruise and Crystal Cruises plus Mv Werften, doubled its EBITDA n 2019 on stronger net yields and occupancy ratios, the company said in a statement.
Cruise EBITDA rose to $189.8 million in 2019 from $152.4 million in 2018 as net yield per passenger and day rose to $202.4 from $189.0. This was the main driver behind the improvement.
Net cruise costs, including fuel, rose to $166.9 from $162.1
“Overall occupancy grew by 1.9% to 93.3% in 2019 from 91.4% in 2018 with improvements in Gross Yield and Net Yield at 8.8% and 7.1% respectively,” Genting Hong Kong said
Shipyard EBITDA posted a lower loss of $23.3 million in 2019 compared to US$59.6 million in 2018 as a result of higher utilisation of the shipyard.
The group’s cruise segment recorded a 3% increase in revenue to $1,384 million despite a reduction in capacity day of 6%. Occupancy grew by 2% to 93% in 2019 from 91% in 2018 with improvements in both Gross Yield and Net Yield at 9% and 7% respectively.
Construction of Crystal Endeavor and Global Dream achieved 68% and 51% progressive completion respectively as at the end of 2019.
Group EBITDA was $142.5 million, doubled that of $72.3 million in 2018, mainly driven by a combination of improved cruise revenues and higher utilisation of the shipyard.
Group operating loss reduced by 32% to $96.2 million with cruise segment at breakeven. Net loss was 26% lower compared to 2018 at US$158.6 million, the company said.
Carnival plc shares fall 11% on equity, debt issue and dividend suspension news
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 31 March 2020 31 March 2020
Shares in Carnival plc fell more than 10% in London following the news that the group would issue both dent and equity plus suspend dividend payments to combat the negative effects of the coronavirus pandemic.
However, the shares remained well above their 52 week low despite the sharp fall today.
At 14.19 local time, shares in Carnival plc traded 10.9% down since the opening at £8.10 after hitting a session’s low of £7.74. Even given this sharp decline, the shares are off their 52-week low of £6.06.
The FTSE100 index of leading shares on the London market was 0.8% higher at the same.
Trading in New York in the shares of Carnival Corporation would start at 14.30 UK time.
Carnival suspends dividends
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 31 March 2020 31 March 2020
Carnival Corporation & plc, the world’s largest cruise shipping company, said that its two listed holding companies would suspend dividend payments.
The company said that it has commenced an underwritten public offering of shares of common stock of Carnival Corporation, suspending the payment of dividends on the common stock of Carnival Corporation and the ordinary shares of Carnival plc.
Carnival Corporation is the Panama domiciled and US listed holding company of the group and Carnival plc is domiciled in the UK and listed in London. The two companies trade as a single entity and their boards comprise same members.
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