Royal Caribbean Cruises Ltd. · NYSE:RCL
Royal Caribbean Cruises — Q3 2022 Earnings Presentation
13 slides from Royal Caribbean Cruises's earnings presentation, Nov 3, 2022
Slide 1: Q3 2022 Earnings Call
Q3 2022 7 EA R IN | IN GS CA LL @ Royal Caribbean Group
Slide 2: Cautionary Statement Concerning Forward Looking Statements
CAUTIONARY STATEMENT CONCERNING FORWARD LOOKING STATEMENTS Certain statements in this press release 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 sta
Slide 3: Our Mission: Deliver the Best Vacation Experiences, Responsibly
OUR MISSION DELIVER THE BEST VACATION EXPERIENCES, RESPONSIBLY 3
Slide 4: Q3 Highlights
Q3 HIGHLIGHTS Full fleet 96% load factor Strong Demand Positive Strong sailing overall and Bookings Earnings Liquidity 4
Slide 5: Q3 Results
Q3 RESULTS APCDs 11.6M Load Factor 96% Total Revenue $3.0B Adjusted EBITDA $742M Adjusted EPS $0.26 Note: please refer to our press release issued 11/3/22 for definitions and reconciliations 5
Slide 6: We Are Ready to Get Back to Peak Financial Performance and Beyond
WE ARE READY TO GET BACK TO PEAK FINANCIAL PERFORMANCE AND BEYOND WHILE ALSO Returning to an investment grade credit profile Reducing carbon intensity by double digits vs. 2019 By 2025 6 Note: EBITDA and EPS goals will be calculated on an as adjusted basis.
Slide 7: Our Proven Formula Delivers
OUR PROVEN FORMULA DELIVERS + + Moderate capacity growth Moderate Yield Growth Strong Cost Control 77
Slide 8: Proven Formula Delivers Strong Performance
PROVEN FORMULA DELIVERS STRONG PERFORMANCE Adj. EBITDA per APCD Adj. EPS ROIC Double Digit Teens Triple Digit $9.54 10.5% $87 2014 2015 2016 2017 2018 2019 2025 2014 2015 2016 2017 2018 2019 2025 2014 2015 2016 2017 2018 2019 2025 8
Slide 9: Moderate Capacity Growth
MODERATE 2022 2023 2024 2025 CAPACITY GROWTH Wonder Icon Oasis VI Icon II 6% CAGR (Gross) Beyond Ascent Edge V Evolution I Evolution II MS VII InTUItion I 2019 2023 2024 2025 2026 2027 9
Slide 10: Our Formula for Success
1% change in 2025 yield = New Ship On Board Strength Private Destinations Relentless Focus on the Consumer $130M Yield Premium and Investment OUR FORMULA FOR 1% change in 2025 NCCx = SUCCESS New Ship Cost Efficiencies Customer Acquisition Operational Efficiency Leveraging Group Scale $60M Cost 1% ch
Slide 11: Returning to Investment Grade Metrics
RETURNING TO INVESTMENT GRADE METRICS Reduce Cost of Debt Unencumbered Balance Sheet Reduce Leverage Maintain Adequate Liquidity 11
Slide 12: Q4 Guidance
Q4 GUIDANCE APCDs 11.7M Load Factor Approx. 95% Total Revenue Approx. $2.6Bn Fuel $282 - 292M Adjusted EBITDA $350M - $400M D&A $355 - $365M Net Interest Expense $355M - $365M Adjusted Loss Per Share ($1.30) - ($1.50) Note: Net interest expense excludes losses on extinguishment of debt. 12
Slide 13: The Ultimate Family Vacation: Icon of the Seas
THE ULTIMATE FAMILY VACATION RECORD 20 2,805 OPENING DAY TOTAL DECKS STATEROOMS BOOKINGS 18 Guest Decks 28 types of rooms 5,610 40 EXCLUSIVE GUESTS * WAYS TO SUITE NEIGHBORHOOD 7,600 Max Guests DINE & DRINK 6 OUR MOST Q4 2023 RECORD-BREAKING SUSTAINABLE PLANNED DELIVERY WATERSLIDES SHIP DESIGN EVER
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