Royal Caribbean Cruises Ltd. · NYSE:RCL
Royal Caribbean Cruises — Q2 2023 Earnings Presentation
12 slides from Royal Caribbean Cruises's earnings presentation, Jul 27, 2023
Slide 1: 1
1
Slide 2: Forward Looking Statements and Non-GAAP Financial Information
FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL INFORMATION Certain statements in this presentation relating to, among other things, our future performance estimates, forecasts and projections constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These s
Slide 3: Q2 Highlights
Q2 HIGHLIGHTS ACCELERATING NET YIELDS ROBUST SPEND DEMAND ON OUR EXPERIENCES ACCELERATING +12.9% Net Yield Growth in constant currency vs. ‘19 +16.6% Revenue per passenger cruise Booking volumes significantly day in constant currency vs. 2019 exceeded 2019 levels 105% Load Factor Compelling Value Pr
Slide 4: Increasing Full Year 2023 Guidance
INCREASING FULL YEAR 2023 GUIDANCE ACCELERATING NET YIELDS STRONG COST CONTROLS IMPROVED PROFITABILITY 11.5% - 12.0% Approx. 7.0% Expect record Adj. EBITDA per APCD Net Yield in constant NCCx per APCD currency vs. ‘19 in constant currency vs. ‘19 and ROIC INCREASING EARNINGS ACCELERATING DEMAND 3 NE
Slide 5: We are executing against our Trifecta plan
We are executing against our Trifecta plan WHILE ALSO Returning to an investment grade credit profile Reducing carbon intensity by double digits vs. 2019 By 2025 5 Note: EBITDA and EPS goals will be calculated on an as adjusted basis.
Slide 6: 2023 Full Year Guidance
2023 Full Year Guidance APCDs 47M Net Yields vs. 2019 (in Constant Currency) 11.5% - 12% NCCx vs. 2019 (in Constant Currency) Approx. 7% Fuel Approx. $1,140M D&A $1,465M - $1,475M INCREASING FULL YEAR Net Interest Expense $1,272M - $1,282M 2023 GUIDANCE ON A Adjusted Earnings Per Share $6.00 - $6.20
Slide 7: Q3 2023 Guidance
Q3 2023 GUIDANCE APCDs 12M Net Yields vs. 2019 (in Constant Currency) 13.5% - 14.0% NCCx vs. 2019 (in Constant Currency) Approx. 11.2% Fuel Approx. $275M D&A $360M to $370M Net Interest Expense $295M - $305M Adjusted Earnings Per Share $3.38 - $3.48 7 Note: Net interest expense excludes losses on ex
Slide 8: Our Mission: Deliver the Best Vacation Experiences Responsibly
OUR MISSION DELIVER THE BEST VACATION EXPERIENCES RESPONSIBLY 8
Slide 9: Appendix
Appendix @ Royal Caribbean Group
Slide 10: Definitions
DEFINITIONS • Adjusted EBITDA is a non-GAAP measure that represents EBITDA (as defined below) excluding certain items that we believe adjusting for is meaningful when assessing our profitability on a comparative basis. • Adjusted Net Income (Loss) is a non-GAAP measure that represents net income (lo
Slide 11: Definitions
DEFINITIONS • Constant Currency is a significant measure for our revenues and expenses, which are denominated in currencies other than the U.S. Dollar. Because our reporting currency is the U.S. Dollar, the value of these revenues and expenses in U.S. Dollar will be affected b y changes in currency
Slide 12: Definitions
DEFINITIONS • Carbon Intensity is our measurement of carbon dioxide emissions per gross tonne nautical mile (well-to-wake). • Gross Cruise Costs represent the sum of total cruise operating expenses plus marketing, selling and administrative expenses. • Gross Margin Yield represent Gross Margin per A
Royal Caribbean Cruises — Q2 2023 Earnings Presentation on 6ix