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LONDON - Carnival Corporation (LON:CCL) & plc, the world's largest cruise operator, has announced that its annual financial results for the year ended November 30, 2024, remain consistent with the earnings previously released on December 20, 2024. The company filed its joint Annual Report on Form 10-K with the U.S. Securities and Exchange Commission, detailing its consolidated financial statements prepared in accordance with U.S. GAAP.
The annual report confirms the company's record revenues for the full year, reaching $25 billion, marking over a 15 percent increase from the prior year. Operating income also hit a record high of $3.6 billion, an 80 percent surge from the previous year, with cash from operations reaching nearly $6 billion.
Carnival (NYSE:CCL)'s focus on reducing interest expenses and rebuilding an investment-grade balance sheet has led to significant debt prepayments totaling over $3 billion in 2024, contributing to a total of over $7 billion since early 2023. The company's debt balance saw a reduction of over $8 billion from its peak in January 2023, ending the year with $27.5 billion of debt.
The cruise operator welcomed three new ships during the year, including the Carnival Jubilee, Sun Princess, and Queen Anne. These additions are part of Carnival's strategy to target specific market segments with new marketing campaigns across its brands.
The company's sustainability initiatives are on track, with a 17.5 percent reduction in greenhouse gas emission intensity compared to 2019, aiming for a 20 percent reduction by the end of 2026. This goal was previously accelerated by four years.
Carnival's Annual Report on Form 10-K, which includes additional information such as management's discussion and analysis of financial conditions and results of operations, is available for viewing on the SEC website and Carnival Corporation & plc's website.
The company's portfolio includes AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises (Australia), P&O Cruises (UK), Princess Cruises, and Seabourn.
This information is based on a press release statement.
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