Ambassador Cruise Line sees strong Q1, positive outlook ahead

Ambassador Cruise Line's Q1 FY25/26 performance met key targets, with LTM EBITDA increasing by £0.8m to £10.3m under IFRS. The company reaffirmed its FY25/26 EBITDA outlook of £11.0m - £14.0m, or £13.4m - £16.4m pro-forma when accounting for planned dry docks. Revenue for Q1 FY25/26 reached £34.00m, up from £33.04m in Q1 FY24/25, driven by improved customer booking journeys and brand awareness.

Forward bookings remain strong, with FY25/26 bookings at £75.0m (+8% YoY) and FY26/27 bookings at £38.4m, demonstrating the impact of earlier season launches. The 27/28 season launched with 109 more selling days than previous seasons, contributing to a year-to-date Net Ticket Revenue (NTR) of over £10.0m. Despite two dry docks in FY25/26 and reduced cruise availability, bednights still increased, reflecting efficient operations.

The Renaissance vessel returned to service after a €17m dry dock, achieving IMO Tier III compliance. Forward bookings for Renaissance's 25/26 season show a +49% increase in Net Ticket Revenue. The company also highlighted a successful fuel hedging strategy, leading to a 17% reduction in fuel cost per metric ton consumed compared to the previous year.