Global port revenues increased in the first nine months of fiscal 2022

By Anthony O. Goriainoff

Global Ports Holding PLC said on Friday that revenue increased in the first nine months of fiscal 2022 and that the long-term outlook for the industry continued to be positive as cruise activity in the third quarter s was accelerating strongly.

The London-listed cruise port operator said revenue for the nine months ended Dec. 31 was $107.2 million, compared with $60.5 million for the same period a year earlier.

Adjusted earnings before interest, taxes, depreciation and amortization — a measure that excludes exceptional and other one-time items — was $4.4 million, compared to an Adjusted EBITDA loss of $8.8 million a year before.

The company said that since the end of the first quarter of fiscal 2022, cruise calls and passenger volumes have seen a strong acceleration in the month, reflecting among other things the easing of travel restrictions.

The cruise industry expects activity to continue to increase and reach nearly 100% fleet deployment in the summer, he added.

The company said that while occupancy levels remain below long-established historical norms of over 100%, they are expected to increase steadily over the next 12 months, returning to 100% by the end of 2022. .

Write to Anthony O. Goriainoff at [email protected]

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