Viking Holdings Ltd reported strong financial results for the first quarter ended March 31, 2025, with total revenue increasing by 24.9% to $897.1 million compared to the same period in 2024. This growth was primarily driven by increased Capacity Passenger Cruise Days (PCDs) and higher revenue per PCD.
The company significantly reduced its net loss to $105.5 million in Q1 2025, a substantial improvement from a net loss of $490.7 million in Q1 2024. Adjusted EBITDA for the quarter was $72.8 million, an increase of $77.3 million year-over-year, reflecting improved operational efficiency.
Booking trends remained robust, with 92% of Viking's Core Products capacity for the 2025 season already sold. Advance Bookings for the 2025 season reached $5,508 million, up 21% from 2024, and for the 2026 season, advance bookings were $2,676 million, up 11% from 2025, with 37% of capacity sold at a 4% higher rate per PCD. The company expects to deliver one ocean ship and nine river vessels during the remainder of 2025.
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