Viking Holdings Ltd announced strong financial results for the fourth quarter and full year ended December 31, 2024. For the full year 2024, Net Yields increased by 7.4%, Adjusted Gross Margin grew by 14.0%, and Adjusted EBITDA saw a 23.7% increase year-over-year, driven by capacity growth and strong demand.
In the fourth quarter of 2024, total revenue increased by 20.5% to $1,349.7 million compared to the same period in 2023. The company reported a net income of $104.2 million, a significant turnaround from a net loss of $593.8 million in Q4 2023. Diluted EPS was $0.24 and Adjusted EPS was $0.45.
Booking trends remained exceptionally strong, with 88% of Core Products capacity for the 2025 season already sold as of February 23, 2025. Advance Bookings for the 2025 season totaled $5,306 million, a 26% increase over 2024 at the same point, with Advance Bookings per PCD up 7% to $807. January 2025 set a new all-time high for revenue booked in a single month. Additionally, Moody's upgraded Viking Cruises Ltd’s corporate rating to Ba3 from B1 in March 2025.
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