Norwegian Group reports record second quarter results with earnings before tax (EBT) of over NOK 1 billion. Norwegian had stable operations during the quarter and was among the best airlines in Europe in terms of punctuality. Norwegian has also decided to pay a dividend for the first time in the company's history, of NOK 0.90 per share, payable in August 2025.
In the second quarter, Norwegian Group had an operating profit (EBIT) of NOK 1,250 million and an operating margin of 12.2 percent, the second highest second quarter result in the company's history. Cash and cash equivalents amounted to NOK 13.8 billion, which is NOK 3.3 billion more than in the previous quarter and a result of strong operating cash flow and financing of the previous acquisition of ten aircraft.
– We are very pleased to be able to present a quarter with several positive records for both Norwegian and Widerøe. The operating profit and operating margin are the second highest we have ever had in a second quarter. Both the cabin factor and the number of passengers are also the highest in a second quarter after the pandemic. In addition, we have reached an important milestone as Norwegian will pay a dividend of NOK 0.90 per share for the first time in the company's 23-year history, says Norwegian's CEO Geir Karlsen.
Dividend
Norwegian's Board of Directors has decided to pay a dividend in accordance with the authorization from the Annual General Meeting in May. Norwegian will allocate the outstanding amount to the company's remaining bond loans, which makes a dividend possible. The dividend will be paid primarily from the company's dividend fund.
During the second quarter, the Norwegian Group had 7.6 million passengers, of which 6.5 million travelled with Norwegian and 1.1 million with Widerøe. Compared to last year, the number of passengers increased by 192,000 for Norwegian and 82,000 for Widerøe. The cabin factor during the quarter was 85.2 percent for Norwegian, an increase of 2.8 percentage points compared to last year, while Widerøe had a cabin factor of 73.9 percent, an increase of 3.7 percentage points compared to last year.
Stable booking development
– The positive booking trend continues in July and August, but the autumn also looks promising for Norwegian with almost ten percent more booked airline tickets than in the same period last year. With the purchase of 13 previously leased aircraft and the agreement to purchase eleven CFM LEAP-1B engines, we are seeing clear results for the strategy we have for the fleet. We therefore see a positive development heading into the second half of 2025, continues Geir Karlsen.
