NCL Forecasts Profit Rise, Reiterates Rejection Of Carnival

December 10, 1999

Norwegian cruise group NCL Holding ASA reiterated opposition to a takeover bid by Carnival Corp. and forecast a surge in pre-tax profits for 2000. Officials said that Carnival, which has offered $880 million for NCL shares, was trying to buy NCL cheap after it suffered a year marred by two accidents with its liners. Officials also said that forecast 1999 profits include extraordinary items of about $20 million after, the Norwegian Sky ran aground in Canada in September and the Norwegian Dream collided with a cargo ship off Britain in August. All costs with the liners had now been taken. NCL bookings already account for 50 percent of budgeted revenues for 2000. And as of Dec. 6, net ticket revenue per capacity day for the first quarter 2000 was $75 against $65 for 1999 at the same date last year.

NCL Forecasts Profit Rise, Reiterates Rejection Of Carnival

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