Exciting New Viking Leadership Ensures A Bright Fu...

• Appointment of Leah Talactac as CEO following her profitable tenure as the corporate’s Chief Monetary Officer.
• Transition of founder Torstein Hagen to Government Chairman to deal with long-term technique and model imaginative and prescient.
• Strategic transfer towards management continuity following the corporate’s transition to a publicly traded entity.
• Sustained deal with fleet growth throughout the river, ocean, and expedition cruising sectors.

Viking has formally introduced a big management transition, appointing Leah Talactac as the corporate’s new Chief Government Officer. She succeeds Torstein Hagen, the corporate’s founder, who will transition into the function of Government Chairman. This alteration marks a pivotal second for the cruise line because it strikes from its long-standing founder-led period into a brand new part of government administration. Talactac beforehand served because the Chief Monetary Officer at Viking, a task during which she performed an instrumental half within the firm’s current preliminary public providing and its continued monetary growth.

Throughout his tenure as CEO, Torstein Hagen was credited with remodeling Viking from a small river cruise operation with 4 ships right into a dominant international model that includes river, ocean, and expedition fleets. As Government Chairman, Hagen is predicted to stay concerned within the firm’s long-term technique and model imaginative and prescient, making certain that the core philosophy of the “pondering individual’s cruise” stays intact. The transition is described by the corporate as a pure evolution of its management construction, meant to supply stability and continuity following its profitable entry into the general public markets.

Talactac is well known inside the maritime and monetary sectors for her disciplined strategy to progress and her deep understanding of the corporate’s operational complexities. Her appointment is seen by business analysts as a strategic transfer to reassure buyers of administration stability whereas sustaining the premium service requirements that outline the model. As the corporate continues to broaden its international footprint and introduce new vessels to its fleet, the management group will deal with navigating the evolving calls for.

Tor, Over The Years

PRESS RELEASE

Might 14, 2026 7:00 am EDTDownload as PDF

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LOS ANGELES–(BUSINESS WIRE)– Viking Holdings Ltd (the “Firm” or “Viking”) (NYSE: VIK) at present introduced that its Board of Administrators has appointed Leah Talactac, President and Chief Monetary Officer, as Chief Government Officer. Torstein Hagen, Chairman and CEO, has been appointed as Government Chairman and can proceed to function Chairman of Viking’s Board of Administrators. The Firm additionally introduced that Linh Banh, Government Vice President of Finance, has been appointed as CFO.

Since becoming a member of Viking in 2006, Ms. Talactac has been a key chief on the manager group. Alongside Mr. Hagen, she led Viking’s preliminary public providing in 2024, which was the most important providing on the NYSE that 12 months, and he or she was appointed President in January 2025 whereas retaining her tasks as CFO. Beginning at present, Ms. Talactac will report back to the Board of Administrators and proceed to guide Viking’s government committee, a extremely skilled group who’ve been integral to Viking’s sustained success. As Government Chairman, Mr. Hagen will deal with long run technique and proceed to assist Ms. Talactac in her function as CEO.

“This management transition displays the energy and depth of Viking’s administration group and the succession planning we’ve constructed over a few years,” stated Mr. Hagen. “Leah’s appointment as CEO is a pure subsequent step, and the Board and I’ve full confidence in her capacity to guide Viking with the identical continuity, self-discipline and imaginative and prescient which have guided us since Viking was based. On behalf of all the Viking household, we congratulate Leah, and I stay up for partnering intently along with her and the Board as she guides Viking ahead on this subsequent chapter.”

“I’m honored by this appointment and deeply grateful for the belief of the Board and Tor,” stated Ms. Talactac. “Tor and our whole government group have constructed an outstanding firm over the past 29 years, and I’m delighted to guide Viking as we proceed to ship significant experiences for our visitors and execute our long-term technique. I additionally need to take a second to congratulate Linh on her new appointment as CFO. Linh is a trusted chief inside Viking, and her monetary stewardship will guarantee a clean transition.”

At present, the Firm additionally reported monetary outcomes for the primary quarter ended March 31, 2026, and offered an replace on working capability and bookings.

Key Highlights

• Whole income was $1,053.7 million for the primary quarter of 2026, a rise of 17.5% in comparison with the identical interval in 2025.
• Gross margin elevated 21.2% and Adjusted Gross Margin elevated 16.9% in comparison with the identical interval in 2025.
• Internet Yield was $596, a rise of 9.5% in comparison with the identical interval in 2025.
• Adjusted EBITDA was $104.8 million, a rise of 43.9% in comparison with the identical interval in 2025.
• Diluted EPS was $(0.12) and Adjusted EPS was $(0.11).
• Internet Leverage improved from 1.1x as of December 31, 2025 to 1.0x as of March 31, 2026.
• As of Might 3, 2026, for its Core Merchandise, Viking had bought 92% of its Capability Passenger Cruise Days for the 2026 season and 38% of its Capability Passenger Cruise Days for the 2027 season.

“2026 is off to a robust begin and we’re more than happy with our first‑quarter outcomes. Whole income for the quarter grew 17.5% driving a 43.9% year-over-year enhance in Adjusted EBITDA, underscoring the demand for our product and our operational self-discipline,” stated Mr. Hagen. “Furthermore, we’re already 92% booked for 2026 which positions us very nicely for the rest of the 12 months. Through the quarter, we additionally continued to make progress growing our fleet and destination-focused choices, additional enhancing the experiences and worth we provide our visitors. As we glance forward, we stay targeted on delivering on the robust demand whereas persevering with to put money into our future and generate sustainable, worthwhile progress.”

First Quarter 2026 Consolidated Outcomes

Through the first quarter of 2026, Capability PCDs elevated by 6.6% over the identical interval in 2025. This year-over-year enhance was primarily pushed by the expansion of the Firm’s fleet, which included one extra ocean ship. Occupancy for the primary quarter of 2026 was 94.7%.

Whole income for the primary quarter of 2026 was $1,053.7 million, a rise of $156.6 million, or 17.5%, over the identical interval in 2025 primarily pushed by elevated Capability PCDs and better income per PCD in 2026 in comparison with 2025.

Gross margin for the primary quarter of 2026 was $297.6 million, a rise of $52.1 million, or 21.2%, over the identical interval in 2025 and Adjusted Gross Margin for the primary quarter of 2026 was $717.2 million, a rise of $103.9 million, or 16.9%, over the identical interval in 2025. Internet Yield was $596 for the primary quarter of 2025, up 9.5% year-over-year.

For the primary quarter of 2026, vessel working bills had been $357.5 million and vessel working bills excluding gasoline had been $316.1 million. In comparison with the identical interval in 2025, vessel working bills elevated $47.6 million, or 15.4%, and vessel working bills excluding gasoline elevated $47.9 million, or 17.9%, primarily pushed by timing of upkeep and restore prices and the rise within the measurement of the Firm’s fleet in 2026 in comparison with 2025.

Internet loss for the primary quarter of 2026 improved to $54.2 million in comparison with a lack of $105.5 million for a similar interval in 2025. Adjusted Internet Loss attributable to Viking Holdings Ltd for the primary quarter of 2026 improved to $49.2 million in comparison with a lack of $105.5 million for a similar interval in 2025.

Adjusted EBITDA was $104.8 million, a rise of $32.0 million, or 43.9%, over the identical interval in 2025. The rise in Adjusted EBITDA was primarily pushed by elevated Capability PCDs and better income per PCD.

Diluted EPS was $(0.12) and Adjusted EPS was $(0.11) for the primary quarter of 2026, in comparison with Diluted EPS and Adjusted EPS of $(0.24) for a similar interval in 2025.

Our first quarter outcomes mirror the seasonality of our enterprise. Whereas our ocean, expedition and Mississippi merchandise function year-round, the first cruising season for our river product is from April to October.

“We’re very inspired by the monetary outcomes of the primary quarter. Growing capability along with Internet Yield improves our profitability and additional strengthens our market management,” stated Ms. Banh. “On this dynamic macroeconomic atmosphere, we stay targeted on delivering superior experiences, optimizing income and sustaining disciplined value administration, whereas prudently investing to assist lengthy‑time period progress.”

Replace on Working Capability and Bookings

For our Core Merchandise, working capability is 7% greater for the 2026 season in comparison with the 2025 season and 15% greater for the 2027 season in comparison with the 2026 season.

As of Might 3, 2026, for our Core Merchandise, we had bought 92% of our Capability PCDs for the 2026 season and 38% for the 2027 season. We had $6,225 million of Advance Bookings for the 2026 season, 13% greater than the 2025 season on the identical time limit; and we had $3,403 million of Advance Bookings for the 2027 season, 31% greater than the 2026 season on the identical time limit. Advance Bookings per PCD for the 2026 season was $842, 5.5% greater than the 2025 season on the identical time limit, and Advance Bookings per PCD for the 2027 season was $986, 11.0% greater than the 2026 season on the identical time limit.

“With 2026 largely booked, our focus has shifted to the 2027 season, which is off to an excellent begin. Capability for our Core Merchandise is growing by 15%, and is already 38% booked, with Advance Bookings 31% forward of final 12 months,” stated Ms.Talactac. “Our booked positions for 2026 and 2027 show the resilience of our loyal buyer base and the sustained demand for our product reflecting that journey stays a precedence for our clients. These outcomes additionally underscore the effectiveness of our strategic initiatives together with an prolonged reserving window, focused direct advertising, a broader itinerary providing and a compelling worth proposition.”

Stability Sheet and Liquidity

As of March 31, 2026:

• The Firm had $4.0 billion in money and money equivalents and an undrawn revolver facility of $1.0 billion.
• Scheduled principal funds are $174.4 million for the rest of 2026 and $197.4 million for 2027.
• Deferred income was $5.4 billion.

In March 2026, S&P upgraded Viking Cruises Ltd’s company score to BB+ from BB.

New Construct and Capability

Since our fourth quarter 2025 earnings launch, the Firm:

• Took supply of the Viking Eldir, a river vessel that operates in Europe.
• Introduced it might construct two extra river vessels to function in Egypt scheduled for supply in 2028.
• Acquired the Viking Yidun, an ocean ship, from China Retailers Viking Cruises Restricted.

Based mostly on the dedicated orderbook, the Firm expects to take supply of two ocean ships and 9 river vessels in the course of the the rest of 2026.

Convention Name Data

The Firm has scheduled a convention name for Thursday, Might 14, 2026, at 8 a.m. Jap Time to debate first quarter 2026 outcomes and supply a enterprise replace. A hyperlink to the reside webcast might be discovered on the Firm’s Investor Relations web site at https://ir.viking.com/. A replay of the convention name may even be out there on the identical web site for 30 days after the decision.

About Viking

Viking (NYSE: VIK) is a worldwide chief in experiential journey with a fleet of greater than 100 ships, exploring 21 rivers, 5 oceans and all seven continents. Designed for curious vacationers with pursuits in science, historical past, tradition and delicacies, Government Chairman Torstein Hagen typically says Viking provides experiences For The Considering Particular person™. For added data, go to www.viking.com.

Definitions

“Adjusted Earnings per Share” or “Adjusted EPS” represents Adjusted Internet Revenue (Loss) attributable to Viking Holdings Ltd divided by Adjusted Weighted-Common Shares Excellent.

“Adjusted EBITDA” is EBITDA (consolidated web revenue (loss) adjusted for curiosity revenue, curiosity expense, revenue tax profit (expense) and depreciation, amortization and impairment) as additional adjusted for forex positive aspects or losses, share-based compensation expense and different monetary revenue (loss) (which incorporates ahead positive aspects and losses, achieve or loss on disposition of belongings, sure non-cash honest worth changes, restructuring expenses and non-recurring gadgets).

“Adjusted Gross Margin” is gross margin adjusted for vessel working and ship depreciation and impairment. Gross margin is calculated pursuant to IFRS Accounting Requirements as whole income much less whole cruise working bills and ship depreciation and impairment.

“Adjusted Internet Revenue (Loss) attributable to Viking Holdings Ltd”represents web revenue (loss) attributable to Viking Holdings Ltd excluding sure gadgets that we imagine usually are not a part of our major working enterprise and usually are not a sign of our future earnings efficiency. We imagine that debt extinguishment and modification prices, achieve (loss) on embedded derivatives related to debt, impairment expenses and reversals and sure different positive aspects and losses usually are not part of our major working enterprise and usually are not a sign of our future earnings efficiency.

“Adjusted Weighted-Common Shares Excellent” represents the diluted weighted-average unusual shares and particular shares excellent, adjusted for dilutive share primarily based awards to the extent not included in diluted weighted-average unusual shares excellent.

“Advance Bookings” is the mixture ticketed quantity for visitor bookings for our voyages at a selected time limit, and embody bookings for cruises, land extensions and air.

“Capability Passenger Cruise Days” or “Capability PCDs” with respect to any given interval is a measurement of capability that represents, for every ship working in the course of the related interval, the variety of berths multiplied by the variety of Ship Working Days, decided on an aggregated foundation for all ships in operation in the course of the related interval.

“Core Merchandise” are Viking River, Viking Ocean, Viking Expedition and Viking Mississippi, that are marketed to North America, the UK, Australia and New Zealand.

“Diluted Earnings Per Share” or “Diluted EPS” is diluted web revenue (loss) per share attributable to unusual and particular shares.

“IFRS Accounting Requirements” are the IFRS^® Accounting Requirements as issued by the Worldwide Accounting Requirements Board.

“Internet Debt” is Whole Debt plus lease liabilities web of money and money equivalents.

“Internet Leverage” is Internet Debt divided by trailing 4 quarter Adjusted EBITDA.

“Internet Yield” is Adjusted Gross Margin divided by Passenger Cruise Days.

“Occupancy” is the ratio, expressed as a proportion, of Passenger Cruise Days to Capability Passenger Cruise Days with respect to any given interval. Opposite to lots of our opponents, we don’t permit greater than two passengers to occupy a two berth stateroom. Moreover, we’ve visitors who select to journey alone and are keen to pay greater costs for single occupancy in a two-berth stateroom. Because of this, our Occupancy can not exceed 100% and could also be lower than 100%, even when all our staterooms are booked.

“Passenger Cruise Days” or “PCDs” is the variety of passengers carried for every cruise, with respect to any given interval and for every ship working in the course of the related interval, multiplied by the variety of Ship Working Days.

“Ship Working Days” is the variety of days inside any given interval {that a} ship and vessel is in service and carrying cruise passengers, decided on an aggregated foundation for all ships and vessels in operation in the course of the related interval.

“Whole Debt” is indebtedness excellent, gross of mortgage charges, excluding lease liabilities.

“Vessel working bills excluding gasoline”is vessel working bills much less gasoline expense.

Non-IFRS Accounting Requirements Monetary Measures

We use sure non-IFRS Accounting Requirements monetary measures, resembling Adjusted Gross Margin, Internet Yield, Adjusted EBITDA, Adjusted Internet Revenue (Loss) attributable to Viking Holdings Ltd and Adjusted EPS, to investigate our efficiency. We current Adjusted EBITDA as a efficiency measure as a result of we imagine it facilitates a comparability of our consolidated working efficiency on a constant foundation from period-to-period and gives for a extra full understanding of things and traits affecting our enterprise than measures underneath IFRS Accounting Requirements can present alone. We additionally imagine that Adjusted EBITDA is beneficial to buyers in evaluating our working efficiency as a result of it gives a method to judge the working efficiency of our enterprise on an ongoing foundation utilizing standards that our administration makes use of for analysis and planning functions. As a result of Adjusted EBITDA facilitates inner comparisons of our historic monetary place and consolidated working efficiency on a extra constant foundation, our administration additionally makes use of Adjusted EBITDA in measuring our efficiency relative to that of our opponents, assessing our capacity to incur and repair our indebtedness and in communications with our board of administrators regarding our working efficiency. We make the most of Adjusted Gross Margin and Internet Yield to handle our enterprise as a result of these measures mirror income earned web of sure direct variable prices.

We additionally current sure non-IFRS Accounting Requirements monetary measures as a result of we imagine that they’re broadly utilized by sure buyers, securities analysts and different events as supplemental measures of efficiency and liquidity. Our non-IFRS Accounting Requirements monetary measures have limitations as analytical instruments, is probably not akin to different equally titled measures of different firms and shouldn’t be thought-about in isolation or as an alternative choice to evaluation of our working outcomes as reported underneath IFRS Accounting Requirements.

See “Definitions” for extra details about our non-IFRS Accounting Requirements monetary measures and “Non-IFRS Accounting Requirements Reconciling Data” for a reconciliation for every non-IFRS Accounting Requirements monetary measure to essentially the most instantly comparable IFRS Accounting Requirements monetary measure.

Cautionary Assertion Regarding Ahead-Wanting Statements

Sure statements on this press launch represent “forward-looking statements” inside the that means of the U.S. federal securities legal guidelines meant to qualify for the protected harbor from legal responsibility established by the Personal Securities Litigation Reform Act of 1995. These forward-looking statements embody, however usually are not restricted to, all statements aside from statements of historic details contained on this press launch, together with amongst others, statements regarding our future monetary efficiency, our enterprise prospects and technique, our anticipated fleet additions, our anticipated monetary place, liquidity and capital wants and different comparable issues. In some instances, we’ve recognized forward-looking statements on this press launch by utilizing phrases resembling “anticipates,” “estimates,” “expects,” “intends,” “plans” and “believes,” and comparable expressions or future or conditional verbs resembling “will,” “ought to,” “would,” “could” and “may.” These forward-looking statements are primarily based on administration’s present expectations and assumptions about future occasions, that are inherently topic to uncertainties, dangers and adjustments in circumstances which might be tough to foretell or that are past our management. You shouldn’t place undue reliance on the forward-looking statements included on this press launch or that could be made elsewhere now and again by us, or on our behalf. Our precise outcomes could differ materially from these expressed in, or implied by, the forward-looking statements included on this press launch because of varied components, that are described in our filings with the U.S. Securities and Alternate Fee.

Ahead-looking statements communicate solely as of the date of this press launch. Besides as required by regulation, we assume no obligation to replace or revise these forward-looking statements for any motive, even when new data turns into out there sooner or later. All forward-looking statements attributable to us are expressly certified by these cautionary statements.