Havila Kystruten Posts Record Profit, Driven by Strong Occupancy and Onboard Revenue Growth — Havila Kystruten AS (Havila Voyages)

Event summary

Havila Kystruten reported a positive EBITDA of MNOK 98 in Q2 2026, up 24% year-over-year, with an EBITDA margin of 21%.
The company achieved its first positive net profit of MNOK 3 for the first half of 2026, driven by currency gains.
Total operating revenues reached MNOK 479 in Q2 2026, a 15% year-over-year increase, with ticket revenue up 10% and onboard revenue up 32%.
Occupancy across the fleet improved significantly to 83%, up from 74% in Q2 2025, with 100% operational uptime recorded during the quarter.

The big picture

Havila Kystruten's strong financial performance in Q2 2026 reflects broader trends in the maritime tourism sector, where operational efficiency and sustainability are key drivers of profitability. The company's ability to reduce CO2 emissions by 36% and maintain high occupancy rates underscores its strategic focus on environmental responsibility and customer experience. As geopolitical tensions continue to influence energy costs, the company's natural hedge through its financing structure provides a buffer against currency fluctuations.

What we're watching

Revenue Growth: Whether Havila Kystruten can sustain the 6% increase in onboard revenue per passenger night through targeted initiatives.
Cost Management: The impact of higher energy costs on the company's operational expenses and how it will manage the elevated bunker costs in Q3.
Market Dynamics: The pace at which the company can capitalize on the strong booking momentum for 2026 and 2027, particularly with a higher share of FIT bookings.