•
Mar 31
Viking Holdings Ltd Q1 2025 Earnings Report
Viking Holdings Ltd reported strong top-line growth in Q1 2025, despite posting a net loss.
Key Takeaways
Viking Holdings posted solid revenue growth and improved EBITDA in Q1 2025, with continued high demand and strong booking trends for 2025, though it still reported a net loss.
Viking Holdings Ltd
Viking Holdings Ltd
Viking Holdings Ltd Revenue by Segment
Forward Guidance
Viking expects strong demand to continue, with 92% of 2025 capacity already sold and growing bookings for 2026.
Positive Outlook
- 92% of 2025 capacity sold as of May 11
- Advance bookings for 2025 are 21% higher YoY
- Advance bookings for 2026 already at 37% of capacity
- 2026 bookings per PCD are higher than 2025
- New vessels expected to expand capacity further in 2025
Challenges Ahead
- Still operating at a net loss
- High vessel operating expenses
- Continued exposure to macroeconomic uncertainty
- Currency losses impacted financials
- Negative comprehensive income despite strong bookings
Revenue & Expenses
Visualization of income flow from segment revenue to net income