# HKY_Q2 2026 Report.pdf

- Press release: Havila Kystruten AS: Second quarter and first half 2026 accounts (2026-08-27)
- Original: https://api3.oslo.oslobors.no/v1/newsreader/attachment?messageId=680977&attachmentId=332143
- Local copy: discarded after extraction (re-fetchable from Original)

**TL;DR —** Havila Kystruten reported a strong Q2 2026 with a 15% revenue increase to MNOK 479 and a 24% EBITDA improvement to MNOK 98, driven by high occupancy and effective cost management, while also achieving a 36% reduction in CO2 emissions.

## Takeaways
- **Revenue Growth:** Total operating revenues increased by 15% year-over-year to MNOK 479 in Q2 2026.
- **EBITDA Improvement:** EBITDA rose by 24% to MNOK 98 in Q2 2026, with the EBITDA margin improving to 21% from 19% in Q2 2025.
- **Operational Efficiency:** The company achieved 100% operational uptime and an 83% occupancy rate across its four vessels, a significant increase from 74% in Q2 2025.
- **Sustainability Achievements:** Havila Kystruten reduced CO2 emissions by 36% compared to the 2017 baseline and achieved an 87% reduction in NOx and 100% reduction in SOx emissions.
- **Booking Momentum:** As of August 2026, 74% of total capacity for the year is booked, corresponding to 95% of the annual target for cabin nights, and 28% of 2027 capacity is booked, with a higher share of individual bookings.
- **Financial Refinancing:** The company completed a EUR 456 million refinancing in November 2025, securing long-term funding and reducing effective borrowing costs to an estimated 10%.

*Generated 2026-09-25 via google/gemini-2.5-flash*