HX Hold Co Ltd reports Q2 results, eyes future growth despite net loss

HX Hold Co Ltd published its Q2 2025 interim report, detailing consolidated results for the period ending June 30, 2025. The company reported total revenue of €50,107 thousand and a normalized EBITDA of €-20,430 thousand. Despite a net loss of €41,869 thousand, the Group highlights a strengthened financial position following a recapitalization transaction on February 12, 2025, which injected €140 million and extended bond maturities to 2030.

Key figures include €227.3m in pre-booked ticket revenue for 2025 departures, a 9% increase over 2024, and €141.7m for 2026 departures, marking a 33% increase from 2025 bookings at the same point last year. The Group emphasizes its commitment to responsible expedition travel and ongoing efforts in scientific research and sustainability. Additionally, HX Hold Co Ltd listed junior secured bonds on the Oslo Alternative Bond Market on August 7, 2025.

The report also notes the departure of cfo James McArthur by mid-October 2025. The company maintains that, despite geopolitical risks and climate change concerns, its comprehensive recapitalization has resulted in low liquidity risk and a belief in continued operational strength for the foreseeable future.