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Carnival plc Reports Operating Results (10-K)

January 31, 2011 | About:
10qk

10qk

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Carnival plc (CUK) filed Annual Report for the period ended 2010-11-30.

Carnival Plc has a market cap of $9.7 billion; its shares were traded at around $45.42 with a P/E ratio of 21.42 and P/S ratio of 0.67. The dividend yield of Carnival Plc stocks is 0.88%. Carnival Plc had an annual average earning growth of 34.9% over the past 10 years.Hedge Fund Gurus that owns CUK: Jim Simons of Renaissance Technologies LLC. Mutual Fund and Other Gurus that owns CUK: David Dreman of Dreman Value Management, John Hussman of Hussman Economtrics Advisors, Inc..

Highlight of Business Operations:

the impact on passenger capacity of these net additions is a 12.8% increase in our North America cruise brands and a 15.3% increase in our EAA cruise brands. See Part I, Item 1. Business. B. Cruise Operations Ships Under Contract for Construction and Note 6, Commitments to our Consolidated Financial Statements in Exhibit 13 to this Form 10-K for additional information regarding our ship commitments.

To achieve our goals we build new and innovative ships and continue to invest in our existing ships to strengthen the leadership position of each of our brands. Our newbuilding program is the primary platform for our growth. We currently have ten cruise ships scheduled to enter service between April 2011 and June 2014, four of which will enter service in 2011. Our current intention is to have an average of two to three new cruise ships enter service annually in 2012 and beyond. We believe our strong balance sheet allows us to capitalize on the attractive newbuild prices that currently exist in the market place. Based on our current ship orders, our growth rate for our North America cruise brands, which is the most developed cruise region, is 3%, compounded annually through 2013. However, the majority of our growth over the next three years will come from our European brands, which are in an earlier stage of market development, and are expected to grow by 7%, compounded annually through 2013. We also currently intend to grow our presence in other markets, such as Australia, Asia and South America by redeploying some of our existing ships to these markets in order to develop an increasing awareness and appetite for cruising.

The industrys and our net capacity serving the global cruise industrys guests have increased at a compound annual growth rate of 5.7% and 6.8%, respectively, from 2005 to 2010. The industrys and our compound annual net capacity growth rate is currently expected to be 4.2% and 4.5%, respectively, from 2010 to 2013 based on the assumptions discussed below. The weighted-average passenger capacities that have been or are expected to be marketed by the global cruise industry and us are as follows:

from passengers sourced outside the U.S. have grown to 54% in 2010, up from 52% and 50% in 2009 and 2008, respectively. See Note 11, Segment Information to our Consolidated Financial Statements in Exhibit 13 to this Form 10-K for financial information regarding our cruise segments.

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