Hurtigruten Group secures EUR 25 million loan from Opco Facility Lenders

09 Sep 2024 08:00 CEST

Hurtigruten Group AS (‘The Group’) has secured commitment for a new EUR 25
million loan from certain Opco Facility lenders. The loan will be provided on
the same terms as the existing Super Senior Opco Facility. The additional
funding, which will be used to support the operations of the Group, illustrates
the commitment of existing stakeholders to the Group’s business strategy and
vision to be the undisputed global leader in sustainability within the
expedition and cruise sector.

As announced in the Second Quarter and First Half report, the Group continues to
see a year-on-year improvement in financial performance, with revenues 3% higher
than H1 2023. The Group continues to experience positive trends and increased
momentum for 2025 bookings, which have increased by 22.7% compared to the 2024
bookings at the same point in 2023. The Group is advancing the second phase of
our reorganisation plan, which aims at full operational and legal separation of
the Hurtigruten and HX businesses. Full reorganisation is expected to occur in
November 2024.

The growth in 2025 bookings reflects the ongoing strategic initiatives that have
been put in place earlier this year and, bolstered by the additional funding,
further underlines the future growth potential for both businesses and the
confidence in their management teams, new products, and fleet distributions.

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627261_Hurtigruten Group Press Release 09.09.2024.pdf