LETTER FROM OUR CHAIRMAN
Dear Shareholder,
As we approach our second Annual General Meeting as a public company, I want to thank you for your continued support of Viking and our brand promise: Exploring the World in Comfort®. Whether you are new to the Viking family, or have been with us over the years, we are grateful to have you with us on this journey.
From our start in 1997, Viking has proudly done things differently from others in the cruise industry. We focus on the destination, and we do not try to be all things to all people. Nearly 30 years later, that clarity of purpose continues to define us.
Today we have more than 100 ships across our award-winning river, ocean and expedition fleet. We are a global leader in experiential travel, exploring 21 rivers, all five oceans and all seven continents. And, all of this we do under just one brand: Viking. We are pleased that our approach continues to resonate with our guests, as well as with our shareholders.
Viking fundamentals
When we became a public company in 2024, I outlined four fundamental principles that have shaped Viking since the beginning and that I felt strongly should not change as we entered a new chapter.
•We obsess over our guests. Our focus remains on English‑speaking travelers aged 55 and older—guests who have the time and curiosity to explore the world in comfort. We offer a single‑language experience on board—and with no children and no casinos on any of our ships, we offer our guests a calm, quiet environment.
•We treat our employees like family. Our global workforce represents more than 90 nationalities, and we deeply value their contributions. It is their service that allows us to deliver such consistent excellence to our guests.
•We take a long‑term view. We remain contrarian in many ways, placing emphasis on long‑term value creation rather than short‑term results.
•We do what is right for the environment. From diesel‑electric river ships to energy‑efficient ocean vessels with closed‑loop scrubbers, we continue to invest responsibly. Our forthcoming ocean ships, the Viking Libra and the Viking Astrea, partially powered by hydrogen fuel cells, are another way of testing progress for Viking and the cruise industry.
Now, two years later, our business performance and the recognition we continue to receive underscore that we have remained true to these principles
2025 highlights
The past year has been another period of significant progress for Viking. We completed our first full year as a publicly traded company on the New York Stock Exchange, building on the momentum of our successful IPO and the confidence placed in us by our guests, employees and shareholders.
Operationally, 2025 was an extraordinary year:
•We continued to grow our fleet. We welcomed our newest ocean ship, the Viking Vesta, and named our nine newest river ships, including the 100th vessel in our fleet, in a historic multi‑country ceremony spanning Egypt, Vietnam, Portugal, France, Germany and Switzerland.
•We expanded into new destinations. We announced new river voyages in India beginning in 2027.
•We advanced as a leader in sustainability. We announced the world’s first hydrogen-powered cruise ship, capable of operating with zero emissions. Currently under construction at Fincantieri’s Ancona