Genting Hong Kong cruise operator will continue to improve its financial results in 2019

Cruise operator Genting Hong Kong managed to cut its net amount of losses in 2018, while revenue surged during the year.

The group recorded a slight improvement with consolidated net loss of USD 213.3 million in 2018, as compared with a consolidated net loss of USD 244.3 million in 2017. The result was recorded because of a significant one-time gain in the disposal of shares of Norwegian Cruise Line Holdings and The Star Entertainment Group Limited of USD 205 million in 2017 compared with a lower net one-time gain of USD 15.5 million in the disposal of the balance of NCLH shares in 2018.

Total revenue was USD 1.6 billion in 2018 compared with USD 1.2 billion in 2017, representing a growth of 34%, mainly due to the inclusion of the first full year operation of 2 Dream Class ships and the higher third party revenue recognised in the shipyard segment.

Cruise revenue was USD 1.35 billion in 2018 as compared to USD 1.02 billion in 2017, a growth of 33% with fleet capacity days increasing by 18.5% and occupancy percentage improving to 91% from 77% in 2017.

Сompany predicts that its results should continue to improve in 2019.

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