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January 26, 2021
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- Carnival cruise group closes the 2020 financial year with
a net loss of -$10.2 billion
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- Revenues fell by -73.1%
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 If for several companies in the shipping industry
the impact on their activity of the Covid-19 pandemic is
result than that caused by the crisis
2007-2009, so much so that some of these - which
carry out containerised maritime transport services - in 2020
recorded record economic results, for others the crisis
health care has had devastating repercussions. Among the latter,
those most related to tourist activities.-
- It is not surprising, therefore, that the performance chart
of the last fifteen years of the cruise group
Carnival Corporation, a world market leader,
shows a slight decrease in results to coincide with the effect of
of the financial crisis and instead a real meltdown due to the
to the shock of the health crisis.
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- Already in the first quarter of 2020, when
impact of the pandemic on economic activities and
were contained, Carnival had registered a
record net loss of -781 million dollars, the first result
net negative economic performance after 20 consecutive quarters
stored with a profit. Net loss drastically aggravated in the
next quarter when the cruise business was
significantly decreased, having amounted to -4.37 billion
dollars, and stood at -2.86 billion and -2.22 billion respectively
billion dollars in the third and fourth quarters of the year
2020, which ended on November 30th. In the last two periods
revenues fell dramatically by -99.5% and -99.3%
to $31 million and $35 million, while operating expenses are
decreased but only by -49.1% and -61.0%. The two quarters
were closed with negative and even operating results
-2.33 billion and -1.64 billion dollars respectively
compared to operating profits of 1.78 billion and 423 million
third and fourth quarters of the 2019 financial year.
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- Carnival closed its full 2020 financial year with
revenues of $5.59 billion, down -73.1%
compared to the previous year, of which 3.68 billion
from the sale of cruises (-73.9%) and 1.91 billion from sales
on board ships (-71.6%). Operating costs were
$14.46 billion (-17.6%). Operating profit and result
both were negative and amounted to -8.65
billion and -10.24 billion dollars compared to an operating profit
of $3.27 billion and a net profit of $2.99 billion
in the 2019 financial year.
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- Carnival did not disclose how many passengers boarded the
vessels of its fleet in the full 2020 financial year (in the financial year
had been 12.87 million). It is to be assumed,
however, after the 3.06 million passengers transported in the
first quarter of 2020 and the 426,000 in the following quarter,
the zeroing of the activity that took place in the third quarter
mainly also characterized the fourth quarter, although it
with the carrying out in the period of some cruise that has yielded
ticket sales of four million dollars.
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