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Havila Voyages counts cost of ship delays but reports ‘positive’ Q3

Havila Voyages, Havila Pollux, Havila Polaris

Havila Voyages has reported a positive third quarter of 2023 despite counting the cost of delays to the launch of its two most recent vessels Havila Polaris and Havila Pollux.

In a recent financial update covering the three months to 30 September 2023, the line saw average occupancy reach 70% with the average cabin rate standing at NOK 4,466 (£328).

Havila said revenues were impacted by ship delays and “fell below expectations”, yet the company observed a positive revenue trend from the second quarter and anticipates this to continue throughout the year.

The company has planned for normalised operation of its four ships going forward, without “extraordinary” costs, and has set its sights on achieving average occupancy of 80% for 2024, of which 45% of all capacity is already sold.

It said interest in the brand is “continuously increasing” both domestically and internationally, with total revenue reaching MNOK 226 (£16.5 million), of which MNOK 47 (£3.4 million) was contractual revenue.

Havila Voyages witnessing ‘significant increase’ in pre-ticket sales

“Despite our two latest ships being delayed in entering service along the Norwegian coast early in the previous quarter, we experienced an average occupancy rate of 70%,” said Havila CEO Bent Martini.

“Our revenues were impacted by the delays, but we are witnessing a significant increase in pre-ticket sales compared to the previous quarter. In connection with refinancing, our operating costs have been affected by extraordinary expenses related to legal and financial advisors.”

He continued: “We see that more people are discovering us and are eager to experience the classic coastal route with the most modern and environmentally friendly ships ever to sail along the Norwegian coast.

“Spacious common areas, comfortable cabins, a unique food concept, and a realistic and measurable focus on sustainability seem to resonate well in the market.”

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