Norwegian Cruise Line Holdings (NCLH) FY2018 results: revenue $6.1 billion, up 12.2% on the year
Norwegian Cruise Line Holdings Ltd. (NCLH) reported revenue of $6.1 billion for fiscal 2018, the year ended 31 December 2018, up 12.2% on the year before. Net income was $955 million, up 25.7%, and diluted earnings per share $4.25. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$6.1 billion
+12.2% on the year
FY2011FY2018
Operating margin
20.1%
19.4% a year earlier
FY2011FY2018
Net income
$955 million
+25.7% on the year
FY2011FY2018
Diluted EPS
$4.25
+28.4% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
6,055
5,396
4,874
+12.2%
Selling, general and administrative
898
774
666
+16.0%
Operating income
1,219
1,049
925
+16.2%
Operating margin
20.1%
19.4%
19.0%
Interest expense
270
268
277
+1.0%
Pre-tax income
969
771
640
+25.8%
Income tax
14.5
10.7
7.2
+34.7%
Effective tax rate
1.5%
1.4%
1.1%
Net income
955
760
633
+25.7%
Net margin
15.8%
14.1%
13.0%
Diluted EPS
$4.25
$3.31
$2.78
+28.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
2,075
1,601
1,264
+29.6%
Capital expenditure
1,567
1,372
1,092
+14.2%
Free cash flow
508
229
172
+122.0%
Free cash flow margin
8.4%
4.2%
3.5%
Cash from investing
-1,503
-1,405
-1,129
Cash from financing
-585
-149
-123
Depreciation and amortisation
567
521
446
+8.7%
Share-based compensation
116
87.0
66.4
+33.3%
Buybacks
665
n/a
50.0
Diluted shares, weighted
224m
229m
228m
-2.2%
Shares outstanding at period end
218m
229m
227m
-4.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
5,963
5,750
4,538
+3.7%
Debt
6,492
6,308
6,399
+2.9%
Other liabilities
2,751
2,037
2,037
+35.0%
Total liabilities and equity
15,206
14,095
12,974
+7.9%
Fixed assets
12,119
11,040
10,118
+9.8%
Goodwill
1,389
1,389
1,389
0.0%
Intangible assets
818
818
818
0.0%
Cash and equivalents
164
176
128
-7.0%
Receivables
55.2
44.0
63.2
+25.7%
Inventory
90.2
82.1
66.3
+9.8%
Other assets
571
546
392
+4.6%
Total assets
15,206
14,095
12,974
+7.9%
10-K for the year ended 31 December 2018, filed 27 February 2019: the filing.