July 13, 2017

Norwegian reports pre-tax result of NOK861m (£80.5m) for second quarter

Norwegian (NAS) has reported its second quarter results for 2017. The pre-tax result (EBT) was NOK861m (£80.5m). This is slightly down from last year’s result, mainly due to higher oil prices and the air passenger tax implemented by the government in Norway last year. The overall performance was positive in all of Norwegian’s main markets during the second quarter. During the second quarter, Norwegian’s total revenue was NOK7.8bn, up 17% from the same quarter last year. The sale of 2.5% of Bank Norwegian shares contributed positively to the result. Norwegian’s net profit this quarter ended at NOK1.1bn. Norwegian’s liquidity has increased from three billion NOK last year to just under six billion NOK this year. Both Norwegian’s production growth (ASK) and traffic growth (RPK) for this quarter was 19%. Norwegian’s growth is estimated to be 25% for the whole year.

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