LINDBLAD Expeditions has recorded an annual loss of US$116.1 million for the year to 31 Dec, on revenues which almost doubled to US$421.5m. The result was a US$8.6 million improvement on the prior year, but was impacted by higher finance expenses and increases in depreciation, mainly due to the addition...
LINDBLAD Expeditions has recorded an annual loss of US$116.1 million for the year to 31 Dec, on revenues which almost doubled to US$421.5m.
The result was a US$8.6 million improvement on the prior year, but was impacted by higher finance expenses and increases in depreciation, mainly due to the addition of National Geographic Resolution to the fleet in Sep 2021.
Lindblad is forecasting a return to profit this year, as operations continue to ramp up, predicting total bookings worth US$550m-$575m and adjusted earnings of $70m-$80m.
The expedition specialist has US$566 million in debt, and is anticipating strong guest cash receipts from final payments for upcoming expeditions and trips, as well as deposits for new reservations for future travel.
“The company has substantial advance reservations for future travel with strong gross bookings, partially offset by short-term cancellations associated with the COVID-19 virus, instability in Peru and itinerary changes due to the Russia-Ukraine conflict,” the company said in its 2022 financial results release.
Current bookings for 2023 are up 47% compared to the corresponding figure in 2019.
