Business
Havila Kystruten AS: Fourth quarter 2025 accounts
2025 marked the second full year of operation for all four vessels operated by Havila Kystruten AS (HKY) along the Norwegian coast. The year represents a clear step forward for the Company, reflecting improved operational stability, stronger commercial performance, and the effect of targeted investments made to support long term growth. In its second year of full operation, the fleet achieved exceptional operational uptime of 100% for the full year, up from 98% in 2024. These results are particu
About this update from Havila Kystruten As
[{"type":"text","content":"2025 marked the second full year of operation for all four vessels operated by Havila Kystruten AS (HKY) along the Norwegian coast. The year represents a clear step forward for the Company, reflecting improved operational stability, stronger commercial performance, and the effect of targeted investments made to support long term growth.","length":338,"tagName":"p"},{"type":"text","content":"In its second year of full operation, the fleet achieved exceptional operational uptime of 100% for the full year, up from 98% in 2024. These results are particularly strong given the operation of four new vessels and are a testament to the professionalism and dedication of the crew on board. The performance also reflects the benefits of a modern operating model, including an availability-based power by the hour arrangement with Kongsberg Maritime, which enables 24/7 monitoring and proactive technical management of the vessels.","length":533,"tagName":"p"},{"type":"text","content":"Financially, the Company continued to build on a very positive trajectory in 2025, delivering a significant improvement in earnings and underlying operational results. EBITDA for the year amounted to MNOK 373, up from a negative MNOK 191 in 2023 (MNOK 219 in 2024). The improvement was driven by strong revenue growth, higher pricing, and continued focus on operational reliability, partially offset by increased costs related to growth initiatives and organisational strengthening.","length":482,"tagName":"p"},{"type":"text","content":"Revenue Growth and Operational Performance","length":42,"tagName":"p"},{"type":"text","content":"Total revenues for 2025 reached MNOK 1,775, an increase of MNOK 252 from MNOK 1,523 in 2024, corresponding to year over year growth of 17%. The increase was driven by solid demand, with passenger nights up 3% and the average cabin rate (ACR) rising by approximately 20% for the year. This reflects improved yield management and a continued positive market response to the Company’s product offering.","length":399,"tagName":"p"},{"type":"text","content":"Fourth quarter revenues amounted to MNOK 361, compared to MNOK 403 in the corresponding period of 2024. The decline in Q4 revenues was primarily attributable to lower-than-expected occupancy, which reached 70.9% compared to 78.4% in the prior year, largely due to a delayed sales campaign for the ...