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Dec 31, 2024
Viking Holdings Ltd Q4 2024 Earnings Report
Viking Holdings Ltd reported strong Q4 2024 results with significant revenue and profitability growth.
Key Takeaways
Viking Holdings Ltd posted total revenue of $1.35 billion in Q4 2024, reflecting a 20.5% year-over-year increase driven by higher Capacity Passenger Cruise Days (PCDs) and increased revenue per PCD. The company achieved a net income of $104.2 million compared to a net loss in Q4 2023. Adjusted EBITDA surged 39.7% to $305.9 million, while diluted EPS stood at $0.24 and Adjusted EPS at $0.45. Viking also reported strong advance bookings for 2025, with 88% of Capacity PCDs already sold.
Q4 revenue grew 20.5% to $1.35 billion, supported by increased capacity and pricing strength.
Net income reached $104.2 million, reversing a loss of $593.8 million in Q4 2023.
Adjusted EBITDA rose 39.7% to $305.9 million, driven by cost efficiencies and higher demand.
Advance bookings for 2025 season reached $5.3 billion, up 26% year-over-year.
Viking Holdings Ltd
Viking Holdings Ltd
Viking Holdings Ltd Revenue by Segment
Revenue by Segment
Cruise and land Revenue
CapyFin.comOnboard and other Revenue
CapyFin.com Forward Guidance
Viking Holdings expects continued revenue and profitability growth in 2025, supported by fleet expansion and high advance bookings.
Positive Outlook
- Operating capacity for Core Products is set to grow by 12% in 2025.
- 88% of Capacity PCDs for 2025 have already been sold.
- Advance bookings for 2025 season are $5.3 billion, up 26% year-over-year.
- Net Yield for 2025 bookings is 7% higher than 2024.
- Company plans to take delivery of one ocean ship and ten river ships in 2025.
Challenges Ahead
- Operating expenses are expected to increase with capacity expansion.
- Macroeconomic uncertainties may impact consumer demand for cruises.
- Higher fuel costs could weigh on margins despite revenue growth.
- Potential currency fluctuations could affect international bookings.
- Interest rate pressures may increase financing costs for new ship deliveries.
Revenue & Expenses
Visualization of income flow from segment revenue to net income