Q4 2024 Viking Holdings Ltd Earnings Call Transcript
Key Points
- Viking Holdings Ltd (VIK) reported a 14% year-over-year increase in adjusted gross margin, reaching over $3.5 billion.
- The company achieved an adjusted EBITDA of $1.3 billion, up 23.7% from the previous year.
- Viking Holdings Ltd (VIK) ended the year with a strong balance sheet, including a 40.8% return on invested capital and a net leverage of 2.4 times.
- The company experienced record guest satisfaction scores and a repeat guest rate of 53%, demonstrating strong customer loyalty.
- Viking Holdings Ltd (VIK) successfully completed its IPO and received the 2024 North America IPO of the Year award, highlighting its strong market position.
- Vessel expenses, excluding fuel per capacity PCD, increased by 0.4% compared to the previous year.
- The company reported a net income loss of $96 million due to the revaluation of warrants issued by the company.
- February bookings showed a slowdown compared to January, reflecting uncertainties in the global market.
- The company faces potential competition from new entrants like Royal Caribbean in the river cruise market.
- Despite strong bookings, there is concern about the impact of macroeconomic uncertainties on future booking trends.
Good morning. My name is Paul, and I will be your conference operator today. At this time, I would like to welcome everyone to Viking's fourth quarter and full year 2024 earnings conference call. As a reminder, this call is being recorded. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. (Operator Instructions)
Thank you. I would now like to turn the program to your host for today's conference, Vice President of Investor Relations, Carola Mengolini.
Good morning, everyone, and welcome to Viking's fourth quarter and full year 2024 earnings conference call. I am joined by Tor Hagen, Chairman & Chief Executive Officer; and Leah Talactac, President & Chief Financial Officer. Also available during the Q&A session is Linh Banh, Executive Vice President of Finance.
Before we get started, please note our cautionary statement regarding forward-looking information. During
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