The year has started well for Viking, with the cruise line reporting total revenue of US$897.1 million for the first quarter – an increase of 24.9% compared to the same period in 2024.
“Viking is off to a remarkable start in 2025, with our first quarter financial performance underscoring the continued momentum in our business,” Viking Chairman and CEO Torstein Hagen said.
“During the quarter, we increased capacity by 14.9% and simultaneously delivered a 7.1% growth in net yield – clear indicators of the robust demand for meaningful and enriching travel experiences among our core demographic.”
Occupancy during the quarter was 94.5%, supported by a 14.9% increase in Capacity Passenger Cruise Days (PCDs), which was driven by the addition of two new river vessels, Viking Hathor and Viking Sobek, and a new ocean ship Viking Vela delivered in 2024.
On the booking front, forward sales are also in great shape, President and CFO Leah Talactac revealed. Advance bookings for 2025 stood at US$5.5 billion – 21% higher than at the same point in 2024—while 2026 advance bookings totalled US$2.7 billion, an 11% increase over 2025.
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“We are seeing sustained strength in demand, with 92% of our 2025 capacity already booked—effectively selling out the year, given our typical load factor,” Talactac said.
“With 2025 now largely secured, our focus has shifted to 2026 where we have a solid foundation with more than 37% of our capacity already sold, positioning us well amid evolving macroeconomic conditions.”
This momentum will help drive Viking forward in its mission to expand its fleet and invest in sustainable growth. The company recently took delivery of the Viking Nerthus, a new river vessel operating in Europe, and entered into shipbuilding contracts for two additional ocean ships set to debut in 2031. Also in the works are hydrogen-powered cruise ship, Viking Libra, slated for delivery in 2026, and a new river vessel for Portugal expected in 2027.
“Looking ahead, we remain firmly focused on generating demand and delivering best-in-class differentiated products through our one Viking brand, which will advance our long-term strategy of thoughtful, sustainable growth,” Hagen said.
