Havila Kystruten AS (HKY) Earnings Call Transcripts

Havila Kystruten AS's Latest Earnings Call - Q1 FY2026

Havila Kystruten AS reported a strong Q1 2026 with revenue growth driven by a 15% YoY increase and a significant improvement in occupancy rates, reaching 72% compared to 61% last year. EBITDA for the quarter was NOK 30 million, marking a robust performance in what is typically the weakest quarter. Management maintained guidance for 2026 EBITDA between NOK 500 million and NOK 600 million, slightly revised from previous expectations due to anticipated higher fuel costs. The company is well-positioned for future growth with strong booking trends and a strategic focus on sustainability and operational efficiency.

Reported metrics

Guidance from management

Management maintained 2026 EBITDA guidance at NOK 500 million to NOK 600 million, slightly revised due to anticipated higher fuel costs. Long-term targets remain unchanged.

What management said

It's more related to the mix of guests and the level of spend that the different guest categories have. So in the first quarter, we have sold up a lot of the interior cabins compared to Q1 last year. And interior cabins, usually the spend is lower per passenger night than in the seaview cabins or in the upper cabins like the suites. So when you blend in that into the mix, the overall onboard spend per passenger nig...

We don't have kind of specific detailed time line yet. But in the meeting we have with the administration, they have put a lot of resources on the tender process now. So we believe that we will know much more over the summer. The more specific time line for the tender process. So the target for the ministry is to have everything closed by mid next year.

What analysts pressed on

Analysts expressed concerns about the impact of rising LNG costs and the timing of government compensation. There were also questions about the mix effect on onboard spend and cabin revenue.

Main topics on the call

• Revenue Growth — Revenue increased by 15% year-on-year for Q1 2026, driven by higher occupancy and increased average cabin rates. Management noted, 'The bookings have been extremely strong in the beginning of the year.'
• Occupancy Improvement — Occupancy rates improved significantly from 61% to 72% YoY. This increase is attributed to strategic marketing and sales efforts, with management highlighting, '90% of the targeted capacity is already booked.'
• Cost Management — Cost of goods sold increased by 20% due to higher occupancy and inflation, while LNG costs are expected to rise due to spot price increases. Management is focused on efficiency gains to mitigate these impacts.
• Sustainability Initiatives — The company is advancing its sustainability strategy by incorporating biogas into its fuel mix, aiming for climate neutrality. This aligns with future regulatory requirements.

Read the full Havila Kystruten AS transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 9 Havila Kystruten AS earnings call transcripts on record, spanning May 31, 2024 to May 29, 2026. Based on this history, Havila Kystruten AS reports quarterly. The most recent call on file is dated May 29, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

HKY

Exchange

OB

Country

NO

Sector

Consumer Discretionary

Industry

Hotels, Restaurants and Leisure

Calls on record

9

First call

May 31, 2024

Most recent

May 29, 2026

Reporting cadence

quarterly