Havila Kystruten AS

Havila Kystruten AS: Trading Update for March 2025

In March 2025, Havila Kystruten achieved an occupancy of 70%, with the season

steadily building up towards the summer. Increasing ticket revenue by almost

20% vs. last year driven by an Average Cabin Revenue (ACR) increase of close to

40%*.

The first quarter last year was characterized by high occupancy at lower prices,

with significant amount of rebooked business from "sail start" delays in 2022

and 2023. In 2024 the first quarter occupancy ended at 66% whilst this year's

occupancy for the quarter was 61%, however an almost 40% increase in ACR yielded

a total of close to 25% increase in ticket revenue for the quarter.

Currently 57% of the available capacity for 2025 is booked, equal to about 75%

of the total targeted cabin nights for the year. With a more balanced booking

distribution, both in terms of groups vs. individual travellers and distribution

along the full route. And close to 25% higher ACR for the year in full vs. last

year. We are well positioned to achieve our full year 2025 targets as we are

nearing the high season.

For 2026, 19% of the available capacity is booked with almost 20% higher ACR

than at the same time last year. Further supporting a continued ramp up in

topline growth and EBITDA margin improvement in 2026 vs. 2025.

*The KPIs provided are sourced from the Company's (unaudited) booking system.

Consequently, there may be variations or minor discrepancies in absolute figures

and periodization compared to the reported financial statements. Revenue in

currency (for ACR) is based on the booking system currency rate.

Contacts:

Chief Executive Officer: Bent Martini, +47 905 99 650

Chief Financial Officer: Aleksander Røynesdal, +47 413 18 114

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

AI Terminal