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Norwegian Cruise Line Reports Financial Results For The Fourth Quarter And Full Year 2013

Increase in full year Adjusted EPS of 45.4% Stronger pricing, addition of Norwegian Breakaway drive top line growth in 2013

MIAMI, Feb. 18, 2014 (GLOBE NEWSWIRE) -- Norwegian Cruise Line (Nasdaq:NCLH) (Norwegian Cruise Line Holdings Ltd., NCL Corporation Ltd., "Norwegian" or "the Company"), today reported results for the quarter and year ended December 31, 2013, and provided guidance for the first quarter and full year 2014.

Full Year 2013 Highlights

  • Adjusted EPS of $1.41, up 45.4%  
  • Net Yield increase of 4.3% (or 4.2% on a Constant Currency basis)  
  • Revenue of $2.6 billion, up 12.9%  
  • Adjusted EBITDA of $647.2 million, up 16.5%  
  • Financial transaction milestones, including initial public offering, optimize capital structure  
  • Introduction of Company's first Breakaway class ship, Norwegian Breakaway  
  • Commenced development of recently acquired island destination in Belize

Fourth Quarter 2013 Highlights

  • Adjusted EPS of $0.19 compared to $0.04 in prior year  
  • Net Yield increase of 4.8% (or 4.7% on a Constant Currency basis)  
  • Revenue of $600.3 million, up 19.3%  
  • Adjusted EBITDA of $124.1 million, up 19.9%

Full Year 2013 Results

"A year that began with a highly successful initial public offering, followed by other transactions which resulted in a strong balance sheet and credit metrics, and the launch of the first ship in our Breakaway class, Norwegian Breakaway, will undoubtedly be remembered as one of the seminal years in Norwegian's 47-year history," said Kevin Sheehan, president and chief executive officer. "The hard work of 25,000 Norwegian team members, all with a keen focus on our vision and mission, has been the catalyst for reaching these milestones, reporting solid financial performance in a challenging year for the industry and positioning the Company for measured, disciplined growth," continued Sheehan.

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