Carnival accusation a quarterly net loss never so elevated and announces a plan of cession of various ships



Carnival Corporation estimates to have closed the second trimester of the fiscal year anniversary 2020, period that has been concluded 31st May, with the worse one turned out economic than always. The preliminary quarterly budget of the crocieristico group American exhibition in fact a net loss of -4,37 billion dollars respect to a profit clearly of 451 million dollars in according to trimester of the exercise anniversary 2019. The group has specified that the result of trimester 2020 includes devaluation burdens not monetary pairs to 2,0 billion dollars and that the rectified net loss turns out pairs to -2,4 billion dollars.

The historical level of the losses is obviously consequence of the effects on the crocieritica activity of the group American of the measures of limitation to mobility and the travels assumed to total level in order to contain the pandemic of Covid-19. This has determined the block almost total of the activities of the fleet of the group and this has determined a strong impact on the economic results of the company beginning from the revenues, than in the period March-May of this single year they are piled to 700 million dollars, with a decrease of the -85,5% regarding 4,84 billion dollars in the correspondent period of 2019.

Announcing today the forecasts of closing of according to budget the trimester of the exercise 2020 Carnival has confirmed that the ships of the group have been firm for the majority of the period and have specified that is not even in a position to previewing when the fleet will be able to return to operate normally. From this also the impossibility to supply forecasts on the next economic results. Moreover - and this is not sure a surprise since the crisis is hitting in the same way the main world-wide crocieristiche companies - Carnival has evidenced that the arrest warrant of the operations continuous to having a remarkable impact negative on all the aspects of the activities of the group and has emphasized that more over a long time span this greater block will be extended will be the impact on the liquidity and the position financial institution of the company.

If currently Carnival is able to not to preview when the activity of the fleet could be restored, however the group considers that the ripartenza will be however gradual and that the first departures of ships will be carried out by a limited number of easy accessible ports.

Moreover the group, in order to tackle to this situation, has returned note the intention to accelerate the program of dismissione of some ships, of which it previews to unravel itself previously within fiscal year 2020 rather than in the next years as programmed. To such Carnival purpose it has specified to have already reached understandings preliminary for the cession of six ships that quite could exit from the fleet within next the 90 days and have specified that it is working with the objective to unravel itself of other units. We remember that the fleet operated from the various crocieristici marks of the Carnival group is constituted gives beyond 100 ships and that the company has in course store clerks with the ship yards in order to equip of others 16 new ships within 2025, deliveries that but Carnival are trying to delay through specific comes to an agreement the navalmeccaniche societies.

As for the situation of the Carnival reservations, remembering the facilities offered to the customers that they have had to renounce to cruises already reserved and those offers for the cruises that could be carried out once finished the phase of emergency, have announced that on 31 May about the half of the passengers who have had to renounce to carry out the cruise have asked reimbursements cash. Carnival has moreover specified that, although also the sale and marketing activity is diminished, however the group is recording an increase of the reservations for the cruises that will be carried out in 2021 and have specified that in the period of six weeks finished on 31 May about two third party of the reservations for the 2021 they turned out to be new reservations, while the remaining quota is constituted by customers whose cruise was cancelled and that they have taken advantage of the facilities offered from the group in order to reserve a future cruise. This, as expected, enough but not to cancel the impact of the crisis on the volume of the reservations that in the period of six weeks finished on 31 May Carnival has confirmed to be considerably inferior regarding last year.