Viking Holdings Ltd Reports Strong 2024 Financial Results

Viking Holdings Ltd ( (VIK) ) has released its Q4 earnings. Here is a breakdown of the information Viking Holdings Ltd presented to its investors.

Viking Holdings Ltd, a prominent player in the travel industry, specializes in offering destination-focused journeys on rivers, oceans, and lakes worldwide, catering to travelers interested in science, history, culture, and cuisine.

In its latest earnings report, Viking Holdings Ltd announced a significant financial performance for the year 2024, showcasing robust growth in revenue and profitability. The company reported a 13.2% increase in total revenue, reaching $5,333.9 million, and a notable rise in Adjusted EBITDA by 23.7% compared to the previous year.

Key financial metrics highlighted in the report include a gross margin increase of 22.5% and an adjusted gross margin increase of 14.0%. The company’s net yield rose by 7.4%, and adjusted earnings per share were reported at $1.86. Viking’s strategic expansion plans for 2025 include a 12% increase in operating capacity with the addition of 11 new ships, and the company has already sold 88% of its capacity for the upcoming season.

The fourth quarter of 2024 showed a strong performance with a 20.5% increase in total revenue, driven by higher capacity and revenue per passenger cruise day. The company also achieved a net income of $104.2 million, a significant turnaround from a net loss in the same period of the previous year.

Looking ahead, Viking Holdings Ltd is optimistic about its growth prospects, supported by strong advance bookings for 2025 and a strategic focus on expanding its fleet and maintaining high service standards. The company is well-positioned to capitalize on the increasing demand for its unique travel experiences.