Hurtigruten Group Secures EUR 25 million loan from Super Senior Opco Facility Lenders
Last changed: Monday, September 9, 2024 6:00 AM
Hurtigruten Group AS (‘The Group’) has secured commitment for a new EUR 25 million loan from certain Opco Facility lenders. The loan will be provided on the same terms as the existing Super Senior Opco Facility. The additional funding, which will be used to support the operations of the Group, illustrates the commitment of existing stakeholders to the Group’s business strategy and vision to be the undisputed global leader in sustainability within the expedition and cruise sector.
As announced in the Second Quarter and First Half report, the Group continues to see a year-on-year improvement in financial performance, with revenues 3% higher than H1 2023. The Group continues to experience positive trends and increased momentum for 2025 bookings, which have increased by 22.7% compared to the 2024 bookings at the same point in 2023. The Group is advancing the second phase of our reorganisation plan, which aims at full operational and legal separation of the Hurtigruten and HX businesses. Full reorganisation is expected to occur in November 2024.
The growth in 2025 bookings reflects the ongoing strategic initiatives that have been put in place earlier this year and, bolstered by the additional funding, further underlines the future growth potential for both businesses and the confidence in their management teams, new products, and fleet distributions.