Norwegian Air Shuttle New (NWARF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the fourth quarter 2025 presentation for the Norwegian Group. My name is Jesper Anderstedt, and I am the VP of Investor Relations here at Norwegian. Today's presentation will be held by our CEO, Geir Karlsson, and our CFO, Hans-Jürgen Wibstad. The presentation will be followed by a Q&A from the audience and the web. Please go ahead, Geir. Thank you, Jesper. Good morning. Good morning to all of you following this also online. It is a beautiful morning in Oslo. It's the winter holiday coming up. I heard on the news on the way in here that 80,000 people is leaving OSL today. And I know that quite a few of them are flying with Norwegians. It's a good day. Going to the highlights for the quarter and also a little bit on the full year of 2025. EBITDA of 21 million, that is an improvement from last year. We have seen passenger growth in both airlines in the quarter. And we are continuing to do well on what we call operational excellence. There we are seeing an improved regularity and punctuality for both airlines compared to the same quarter last year. On unit cost, as many of you know and remember, we have been guiding a flat cost for 2025 as a whole. And that's also where we ended up. That means that the Q4 cost is slightly up. But for the year, we are sticking to what we have been guiding over the last couple of quarters. 2025 as a whole, very good year. with an EBT of 3 billion NOK in combination between the two airlines, EBIT of 3.159 billion in Norwegian, and 585 million in Videre. That converts into an EBIT margin of 9.9%, which is historically strong for this company. We are continuing to grow our network. In 2026, we will fly close to 500 routes between the two airlines. We are continuing to be among the best airlines in Europe when it ...