ruben.maritime

MIAMI 05 February – Surprisingly strong 4Q06 results for Royal Caribbean Cruises Ltd (RCCL) are being overshadowed by booking weakness this year. Commenting on the 1Q "Wave Season", when a disproportionate number of bookings are placed, RCCL chairman Richard Fain said: “The early indications from the wave period are less encouraging than we had hoped.” He added that “the beginning of the year is down slightly, but the revenue picture for the balance of the year is strong”. For 2007 overall, RCCL expects a 3% increase in net yields, with newly purchased Spanish line Pullmantur accounting for two-thirds of that growth. But because of seasonality, Pullmantur will have a negative impact on 1Q07 and 2Q07 and a positive effect on 3Q07 and 4Q07. For 1Q07, RCCL estimates net yields will decrease around 3%, while net cruise costs will increase 4-5%. RCCL reported profits of $46.6M in the traditionally weak fourth quarter period despite “less robust Caribbean pricing”, compared with a loss of $3.6M in 4Q05. For full-year 2006, RCCL reported net income of $633.9M, down significantly from $716M in profits in 2005; however, 2005 results were skewed by an accounting change; not counting that change, 2005 profits were $663.5M.

Etiquetas: cruise market, cruises

This entry was posted on martes, febrero 06, 2007 at 5:26 a. m.. You can skip to the end and leave a response.