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Beskrivning

LandNorge
ListaOBX
SektorTjänster
IndustriFordon & Transport
Norwegian Air Shuttle bedriver flygverksamhet. Flygbolaget driver ett kortdistansnät över Norden och till viktiga europeiska destinationer. Norwegian är verksamt på den nordiska flygresemarknaden och bedriver kortdistansflyg från punkt till punkt inrikes och gränsöverskridande flygningar inom Norden och till nyckeldestinationer i Europa och närliggande länder. Företaget grundades 1993, startade sin verksamhet 2002 och har sitt huvudkontor i Fornebu, Norge.
2024-02-16 07:00:00
Norwegian today reported its fourth quarter and preliminary full-year results
for 2023. For the full-year of 2023, Norwegian delivered an operating profit
(EBIT) of NOK 2,232 million, the highest operating profit in company history.
The liquidity position improved through the quarter to NOK 9.5 billion at
year-end. The figures demonstrate Norwegian's ability to deliver strong results
by reducing capacity when moving into the quieter winter period. The airline
remained among the best carriers in Europe on punctuality and regularity.

For the full year of 2023, the operating margin was 9 percent, also a record
high for the company. For the fourth quarter of 2023, the company delivered an
operating profit (EBIT) of NOK 328 million. Profit before tax (EBT) amounted to
NOK 1,804 million for the full-year of 2023 and NOK 208 million for the quarter.
The Norwegian fleet comprised 87 aircraft at year-end, of which 20 aircraft were
latest technology 737 MAX 8 aircraft.

"I am thrilled to announce that Norwegian achieved all-time high profits for
2023. Our loyal customer base continued to grow, and we are grateful for their
trust in us. Colleagues across the entire company have worked tirelessly to
ensure operational excellence, ranging from the planning of our network and
services to everyday execution," said Geir Karlsen, CEO of Norwegian.

More passengers, higher load factor

Norwegian had 4.7 million passengers in the quarter, up from 4.6 million
passengers in the fourth quarter of 2022. Production (ASK) was 7.1 billion seat
kilometres, while passenger traffic (RPK) was 6.0 billion seat kilometres.
Compared to the previous quarter, capacity was down 32 percent as the company
reduced its production to match seasonally lower demand during the winter
period. The quarterly load factor was 84.4 percent, up three percentage points
from the same period the previous year.

Punctuality, share of flights departing on schedule, was 81.5 percent, down from
82.3 percent in the same period the previous year. While punctuality fell in
December as winter weather condition impacted operational performance at key
airports, the airline managed through relentless efforts to ensure that close to
all passengers made it home for the festive period. Cirium, the global aviation
consultancy named Norwegian Air Shuttle (DY) Europe's most on-time airline in
October and the fifth most punctual airline for 2023. It also ranked the airline
as Europe's top performer on regularity.

Widerøe acquisition completed

In January, Norwegian completed the acquisition of Widerøe, a regional carrier
in Norway with a fleet of 48 aircraft, predominately turboprops. The acquisition
of Widerøe will enable the linking of complementary route networks, create
significant operational synergies, and provide Norwegian with additional
diversification through Widerøe's substantial public service obligation (PSO)
operations.

"We are now in the process of onboarding Widerøe as part of the Norwegian group.
I very much look forward to exchange decades of experience between the two
airlines. This will enable us to go to the market with an improved and more
comprehensive offering to our customers," said Karlsen.

Dividend and outlook

The Board of Directors intends to propose a dividend of NOK 0.60 per share for
2023 to the annual general meeting in 2024. Distribution of the dividend is
subject to approval from holders of the company's debt instruments. If such
approval is not obtained, the Board proposes to set aside the dividend amount in
a fund for later distribution.

Current booking trends are encouraging, and the duration of the booking curve
has improved compared to the two previous years, giving improved visibility. For
the full-year of 2024, Norwegian forecasts an overall production (ASK) of around
36,000 million seat kilometres, corresponding to a growth of approximately 12
percent from 2023. The company projects profits for 2024 to improve and is
currently expecting an operating profit (EBIT) to be in the range of NOK 2.5 to
3.2 billion, given certain assumptions.

Norwegian's customers highly value the airline's strong punctuality and the
attractive and growing route network. The acquisition of Widerøe will further
ensure that Norwegian remains a preferred travel partner throughout the Nordics.

For the remainder of the winter season, Norwegian will keep a reduced capacity
level that matches the seasonally lower demand. From March and onwards, the
company will ramp-up capacity into the busy travel season. The company is
growing its fleet to approximately 90 aircraft for the peak summer 2024 season.


For detailed information, please see attached report and presentation.


For further information, please contact:
Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47
906 64 401


Fornebu, 16 February 2024
Norwegian Air Shuttle ASA


This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Jesper M. Hatletveit, VP Investor Relations at
Norwegian Air Shuttle ASA, on 16 February 2024 at 07:00 CET.