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Viking Holdings Ltd (symbol: VIK) is a renowned travel company specializing in unique and immersive travel experiences. With a fleet of 92 small, state-of-the-art ships, often referred to as floating hotels, Viking offers unparalleled travel adventures across all seven continents. The company excels in three main categories of the cruise industry: river, ocean, and expedition cruising.
Viking Holdings Ltd categorizes its offerings based on the type of cruise and the language of service. The River segment primarily focuses on providing river cruises outside the United States, catering to English-speaking passengers. The Ocean segment offers luxurious ocean cruises targeted at English-speaking travelers. The Expedition segment encompasses thrilling expedition cruises for English-speaking adventurers, including exclusive journeys along the Mississippi River and Mandarin-language cruises in China under the Viking China brand.
Recent achievements of Viking Holdings Ltd include significant expansions in their fleet and destinations, ensuring a broader range of travel options for their guests. Their commitment to delivering high-quality services and memorable travel experiences has cemented their reputation in the industry.
Financially, Viking Holdings Ltd continues to show robust performance, supported by strategic partnerships and innovative projects that enhance their offerings. The company maintains a strong market presence and strives to deliver consistent growth, appealing to both seasoned travelers and those new to cruise vacations.
In summary, Viking Holdings Ltd stands as a leader in the travel and cruise industry, offering meticulously curated travel experiences across the globe. Their dedication to service excellence and continuous improvement ensures they remain at the forefront of the industry.
Viking Holdings reported strong Q3 2024 financial results with total revenue increasing 11.4% to $1,678.7 million compared to Q3 2023. Key performance metrics showed significant growth with gross margin up 18.0%, Adjusted EBITDA rising 15.3%, and diluted EPS of $0.86. The company achieved 94% occupancy and has sold 95% of its Core Products capacity for 2024 and 70% for 2025. Advance Bookings for 2024 reached $4,633 million, 14% higher than 2023, while 2025 bookings are at $4,329 million, 26% higher than 2024 at the same point. The company's net leverage improved from 3.0x to 2.4x, with $2.4 billion in cash and cash equivalents.
Viking has named two new river ships, the Viking Hathor and Viking Sobek, in a special ceremony in Luxor, Egypt. These 82-guest vessels are identical sister ships to the Viking Aton and Viking Osiris, specifically designed for Nile River navigation on the 12-day Pharaohs & Pyramids itinerary. The Hon. Edward Herbert and Mohamed El Banna served as ceremonial godfathers. Built at Massara shipyard in Cairo, these state-of-the-art ships feature Scandinavian design elements including a square bow and indoor/outdoor Aquavit Terrace. Viking plans to add four more ships by 2026, expanding their Nile fleet to 10 vessels.
Viking Holdings (NYSE: VIK) has announced it will host a conference call on Tuesday, November 19, 2024, at 8:00 a.m. Eastern Time to discuss its third quarter 2024 financial results. The company will release its financial results before market opening on the same day. The call will be accessible via webcast on Viking's investor relations website, with a replay available for 30 days after the event.
Viking (NYSE: VIK) has achieved a historic milestone in the travel industry by being voted #1 for Rivers, #1 for Oceans, and #1 for Expeditions in Condé Nast Traveler's 2024 Readers' Choice Awards for the second consecutive year. This marks the first time a travel company has won these three categories back-to-back. Viking's Chairman and CEO, Torstein Hagen, expressed gratitude to their guests and the Viking family for making this achievement possible.
This recognition adds to Viking's recent accolades, including similar honors from Travel + Leisure's 2024 World's Best Awards. Viking has also received top rankings from U.S. News & World Report, Women's Health, Men's Health, and Cruise Critic. The company's ocean ships have been rated and 'Recommended' in the Forbes Travel Guide 2024 Star Awards.
Viking (NYSE: VIK) is celebrating its historic return to China as the Viking Yi Dun completed its first voyage from Shanghai to Hong Kong. The company now offers domestic sailings along China's coast, featuring rarely-visited destinations and exclusive ports, a first for international visitors.
The 930-guest Viking Yi Dun, formerly known as Viking Sun, operates these new itineraries from September to November. The inaugural voyage was commemorated in Shanghai with cultural performances and welcomed with fanfare at various ports.
Viking has also announced new Asia voyages for 2025, including itineraries that combine China and Japan. These fully guided journeys range from 15 to 22 days, offering experiences such as exploring the Great Wall of China, visiting Tibet, and admiring Mt. Fuji.
Viking Holdings (NYSE: VIK) has announced the pricing of its secondary public offering of 30,000,000 ordinary shares at $31.00 per share. The selling shareholders are offering all shares and have granted underwriters a 30-day option to purchase up to an additional 4,500,000 shares. Viking will not receive any proceeds from the offering. The offering is expected to close on September 13, 2024.
Lead underwriters include BofA Securities, J.P. Morgan, UBS Investment Bank, and Wells Fargo Securities. HSBC and Morgan Stanley are acting as bookrunners, while Rothschild & Co, Stifel, Drexel Hamilton, , Loop Capital Markets , and R. Seelaus & Co., are co-managers. The offering will be made through a prospectus, with the registration statement declared effective on September 11, 2024.
Viking Holdings (NYSE: VIK) has announced the launch of a secondary public offering of 30,000,000 ordinary shares by certain selling shareholders. The underwriters have been granted a 30-day option to purchase up to an additional 4,500,000 shares. Viking itself is not offering any shares and will not receive proceeds from the offering.
BofA Securities and J.P. Morgan are acting as lead underwriters and representatives, with UBS Investment Bank and Wells Fargo Securities as lead book-running managers. The offering will be made through a prospectus, with a registration statement filed with the SEC. This announcement does not constitute an offer to sell or solicitation of an offer to buy these securities.
Viking (NYSE: VIK) has announced six new itineraries in Asia for 2025, expanding access to Japan and China, including Tibet. The voyages, ranging from 15 to 22 days, will operate from September to November 2025 on the Viking Yi Dun, formerly known as Viking Sun. These itineraries offer exclusive access to rarely seen destinations in China and feature immersive experiences, insightful lectures, and regionally inspired cuisine.
The new voyages include:
- Jewels of Japan & China (15 days)
- Classic China Discovery (20 days)
- Pearls of Japan & China (22 days)
- Gems of China & Japan (22 days)
- Wonders of China (22 days)
- Best of China (22 days)
Viking Holdings (NYSE: VIK) reported strong financial results for Q2 2024. Total revenue increased 9.1% to $1,587.3 million, while Adjusted Gross Margin rose 9.5% compared to Q2 2023. Net Yield grew 6.6% to $562, and Adjusted EBITDA increased 11.6%. The company's Net Leverage improved from 3.4x to 3.0x.
Viking has already sold 95% and 55% of its Capacity Passenger Cruise Days for 2024 and 2025 seasons, respectively. Advance Bookings for 2024 and 2025 are 14% and 20% higher than previous seasons. The company's fleet capacity is set to increase by 5% in 2024 and 12% in 2025.
Net income for Q2 2024 was $155.8 million, impacted by non-cash items. Excluding these, net income was $344.6 million. Viking maintains a strong liquidity position with $1.8 billion in cash and cash equivalents.
Viking (NYSE: VIK) has taken delivery of its newest Nile River ship, the Viking Hathor. The 82-guest vessel joins Viking's fleet for the popular 12-day Pharaohs & Pyramids itinerary. Key features include:
- Elegant Scandinavian design
- 41 staterooms
- Distinctive square bow
- Indoor/outdoor Aquavit Terrace
The itinerary includes a 3-night stay in Cairo, visits to iconic sites like the Great Pyramids of Giza, and an 8-day Nile cruise. Viking is rated #1 for Rivers, Oceans, and Expeditions by Condé Nast Traveler. The company offers pre and post-trip extensions, including exclusive access to museums and archaeological sites in London, Oxford, and Highclere Castle.
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