Havila Voyages (Havila Kystruten) reported its fourth-quarter 2024 financial results on Thursday evening, marking the third consecutive quarter with a positive operating result and continued revenue growth.
Havila Voyages' revenue in the fourth quarter of 2024 reached NOK403 million ($36.4 million), a substantial increase compared to NOK249 million in the same period in 2023.
For the full year, Havila Voyages' total revenue amounted to NOK1.53 billion, up from NOK764 million in 2023.
The company’s operating costs for the quarter amounted to NOK352 million, mainly related to the regular operational expenses of its four-ship fleet.
The company achieved an operating profit of NOK50 million, a significant improvement from a negative operating result of NOK33 million in the same quarter of 2023, continuing the positive trend from the previous two quarters in 2024.
For the full year, Havila Voyages reported an operating profit of NOK219 million, compared to a negative operating result of NOK180 million in 2023.
The occupancy rate on Havila Voyages’ ships in the fourth quarter was 78 per cent, compared to 63 per cent in the same quarter of the previous year. For the full year, occupancy increased from 65 to 73 per cent.
The average daily cabin rate (ACR) also increased from NOK2,650 to NOK3,800 in the quarter, and from NOK3,300 to NOK4,300 for the full year.
53 per cent of capacity for 2025 has already been sold, with an average cabin rate of NOK5,200, said the company, which expects to sell around 75 per cent of its total capacity for the year.