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Norway Cruise Line Holdings posts $338 million profit in 2014

Norway Cruise Line Holdings posts $338 million profit in 2014

OSLO: Norway Cruise Line Holdings posted stronger earnings in 2014, buoyed in part by ticket sales, onboard revenue and the addition of a new ship.

The Miami-based cruise operator generated net income of $338 million, or $1.62 per share, last year, compared with $102 million, or 49 cents a share, in the prior year.

Frank Del Rio, president/CEO of Miami-based Norwegian Cruise Line Holdings, parent company of Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. (Norwegian Cruise Line Holdings)

“Looking back at our accomplishments over the past year, it is clear that 2014 will be remembered as one of solid growth and game-changing expansion for the company,” Frank Del Rio, company president and chief executive officer, said in a statement.

Fourth-quarter earnings, however, suffered because of Norwegian’s $3 billion acquisition of Prestige Cruise Holdings in November, which resulted in a net loss of $25.6 million, or 12 cents a share. That compared with $36 million, or 17 cents a share, the year before.

Revenue in the quarter rose to $789 million from $600 million in 2013, boosted by higher ticket prices and shipboard spending.