Strong earnings growth in the second quarter of 2026

The company's EBITDA margin rose to 21 percent, up from 19 percent in the second quarter of 2025.

"We are very pleased with the development in the second quarter. The strong earnings growth shows that our investment in commercial capacity, sales and marketing is now paying off," says CEO Bent Martini of Havila Voyages (international brand name for Havila Kystruten).

Revenue growth and solid operational performance
Total operating revenue came to NOK 479 million in the second quarter, an increase of 15 percent from the same quarter last year. Ticket revenue rose by 10 percent to NOK 287 million, driven by higher occupancy, while onboard revenue increased by as much as 32 percent, to NOK 85 million. Onboard revenue per passenger night rose by 6 percent. Contract revenue increased by 22 percent to NOK 103 million.

Reported growth in ticket revenue is somewhat lower than the KPIs alone would suggest, mainly due to accrual effects, a stronger Norwegian krone reducing the value of bookings made in foreign currency, and classification differences between KPI reporting and accounting. Adjusted for these effects, underlying growth in ticket revenue is in line with the development in passenger nights and average cabin price.

Average occupancy across the fleet rose significantly to 83 percent, up from 74 percent in the second quarter of 2025, while the cabin factor fell slightly, from 1.88 to 1.86. The number of passenger nights increased by 17 percent to 99,800. Operational uptime across the fleet was 100 percent.

"With good occupancy and 100 percent operational uptime across the fleet, we are delivering profitability as well as predictability for the coastal communities we serve," says Martini.

"Bookings into the third quarter are strong, and we're seeing steadily increasing demand for our product."

He points out that Norway as a holiday destination stands strong in a turbulent world.

"Norway continues to stand out as an attractive and safe travel destination, and our modern, environmentally friendly fleet is being well received — something confirmed by several international awards and rankings. We're heading into autumn in a record-strong position for 2026, with a good starting point for 2027. We will continue to prioritize direct bookings and actively optimize margins going forward, to ensure good predictability and continued financial growth," he says.

Reduced emissions
Havila Voyages continues its sustainability work. The group reduced CO2 emissions by 36 percent in the quarter compared with the 2017 baseline level for the coastal route. The company also continued its work to reduce food waste, ending the quarter at 107 grams per guest per day. The measurement of food waste was expanded in 2026 to cover all waste streams, so the figure is not directly comparable with previous reporting periods.

"Sustainability is an integral part of how we run the company, and we are proud to deliver both lower emissions than our targets on the coastal route and the focus we maintain on reducing food waste in our daily operations," Martini concludes.