Viking Cruises Sets New Standard in Luxury Tourism with Record Q2 Earnings and Fleet Expansion

Viking Holdings, a travel company, reported Q2 net income nearly tripled to $99m and revenue climbed 18% to $1.88bn. The company's success is attributed to targeting affluent travelers aged 55 and older, high loyalty rates, and a serene experience on its ships. Luxury tourism is expected to grow faster than any other sector, reaching $391bn by 2028.

Title: Viking Holdings Reports Strong Q2 2025 Financial Results

Viking Holdings Ltd (NYSE: VIK) reported robust financial results for the second quarter of 2025, with net income nearly tripling to $439.2 million and revenue climbing 18.5% to $1,880.4 million. The company's success can be attributed to its focus on targeting affluent travelers aged 55 and older, high loyalty rates, and a serene experience on its ships.

Key highlights from the second quarter include a 22.3% increase in gross margin and a 19.2% increase in adjusted gross margin compared to the same period in 2024. Net yield was $607, up 8.0% year-over-year, and adjusted EBITDA surged 28.5% to $632.9 million. Diluted EPS and adjusted EPS were $0.99, indicating a strong earnings performance.

Viking's operating capacity for the 2025 season is 12% higher than the 2024 season, with 96% of its 2025 capacity passenger cruise days (PCDs) already sold. For the 2026 season, 55% of the PCDs have been sold. Advance bookings for the 2025 season were $5,638 million, 21% higher than the 2024 season at the same point in time, and for the 2026 season, they were $3,883 million, 13% higher than the 2025 season.

The company's balance sheet remains strong, with $2.6 billion in cash and cash equivalents and an undrawn revolver facility of $375.0 million. Scheduled principal payments are $141.8 million for the remainder of 2025 and $257.8 million for 2026.

Viking continues to expand its fleet, with the delivery of two new ships and the announcement of two river vessels to start operating in India in 2027 and 2028. The company expects to take delivery of six river vessels during the remainder of 2025.

The company will hold a conference call on Tuesday, August 19, 2025, at 8 a.m. Eastern Time to discuss the second quarter 2025 results and provide a business update. A link to the live webcast can be found on the Company’s Investor Relations website at [https://ir.viking.com/](https://ir.viking.com/) [1].

References
[1] https://ir.viking.com/news-events/press-releases/detail/202/viking-reports-second-quarter-2025-financial-results