# HKY Q1 2026 Result Presentation.pdf

- Press release: Havila Kystruten AS: First quarter 2026 accounts (2026-05-28)
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**TL;DR —** Havila Kystruten (HKY) reported a strong Q1 2026 with significant revenue and EBITDA growth driven by increased passenger nights and average cabin revenue, alongside high operational uptime and robust future bookings.

## Takeaways
- **Operational Uptime:** Achieved 100% operational uptime across its four vessels in Q1 2026.
- **Revenue Growth:** Q1 2026 operational revenue increased by 15% YoY to MNOK 288, with total revenues reaching MNOK 391 (+12% YoY).
- **EBITDA Improvement:** Q1 2026 EBITDA rose to MNOK 30, up from MNOK 11 in Q1 2025.
- **Passenger Metrics:** Passenger nights increased by 17%, and Average Cabin Revenue (ACR) grew by 4% YoY to NOK 4,800.
- **Bookings & Occupancy:** 69% of 2026 capacity is already booked (equivalent to ~90% of target), with Q1 2026 occupancy at 72% (up from 61% in Q1 2025) and May 2026 occupancy at a record 87%.
- **Financial Outlook:** Maintained long-term EBITDA target of MNOK 600-800, with a revised 2026 target of MNOK 500-600 due to expected higher fuel costs.

*Generated 2026-09-25 via google/gemini-2.5-flash*