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03 March 2021 The on-line newspaper devoted to the world of transports 09:58 GMT+1

February 22, 2021

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Original news
Royal Caribbean closed 2020 with a net loss record of -5.78 billion dollars

A negative result is also expected in 2021

The annus horribilis of the cruise industry, affected by the devastating consequences of the effects of the coronavirus pandemic, certainly did not spare the American Royal Caribbean Cruises, number two of the market: "the Covid-19 pandemic - recalled the chairman and CEO of the company, Richard Fain -- is having a painful and profound impact on our world and about our business. No doubt -- he confirmed -- this crisis is the most difficult in the history of our the company.'

Of course Royal Caribbean, as well as other companies of the sector, will hardly forget a 2020 that the group, which operates under the Royal Caribbean International brands, Celebrity Cruises, Silversea Cruises and Azamara, filed with a record net loss of as much as -$5.78 billion compared to to a record net profit of 1.91 billion obtained in the financial year previous year. Revenues fell by -79.8% amounted to $2.21 billion, of which $2.03 billion accumulated in the first quarter alone less affected by the crisis compared to 10.95 billion in 2019. More contained the decrease in costs to 2.76 billion dollars (-54.4%). The operating result was a sign negative and equal to -4.60 billion dollars compared to a profit net of 2.08 billion in 2019.

Last year, the ships of the U.S. group's fleet hosted 1.28 million passengers (-80.5%), of whom almost totality (1.24 million) in the first quarter alone when the effects on the business had not yet fully manifested themselves of the group of the limitation to mobility decided by the world governments to contain the spread of Pandemic.

In the fourth quarter of 2019 alone, a period in which passengers on board were 34,000 (-97.9%), the group's revenues Royal Caribbean Cruises was $34.1 million compared to $2.52 billion in the October-December quarter of the previous year. Operating costs amounted to 265.3 million dollars (-82.1%). Operating profit and result net economic performance were both negative and equal -1.02 billion and -1.37 billion dollars respectively compared to negative results of 299.4 million and 280.5 million million dollars in the last quarter of 2019.

Regarding the forecasts for the 2021 annual financial year, Royal Caribbean, whose business is still suffering the impact of the pandemic, believes that the first quarter will be closed in loss as well as the whole year, negative results - it specified the company - the extent of which will depend on many factors, including the timing and consistency of the restart of the cruise activities.


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