Carnival
Corporation & plc Update On Financial Impact Of Coronavirus
MIAMI, Feb. 12, 2020 /PRNewswire/ -- Carnival
Corporation & plc is closely monitoring the evolving
situation with respect to Coronavirus. The safety of guests
and employees, compliance and protecting the environment are
top priorities for the company. The company's medical experts
are coordinating closely with the U.S. Centers for Disease Control
and Prevention and the World Health Organization to implement
enhanced screening, prevention and control measures for its guests,
crew and ships. The company's global team is working
tirelessly to support guests impacted by voyage disruptions during
this unprecedented time.
Travel restrictions as a result of Coronavirus necessitated the
suspension of cruise operations from ports in China, as was previously announced, and are
now resulting in the cancellation of voyages in other parts of
Asia. Significant events
affecting travel typically have an impact on booking patterns, with
the full extent of the impact generally determined by the length of
time the event influences travel decisions. As a result of
Coronavirus, the company believes the impact on its global bookings
and cancelled voyages will have a material impact on its financial
results which was not anticipated in the company's previous 2020
earnings guidance.
Since the situation continues to evolve, the company is
currently unable to determine the full financial impact on its
fiscal year 2020. However, while not currently planned, if the
company had to suspend all of its operations in Asia through the end of April, this would
impact its fiscal 2020 financial performance by $0.55 to $0.65 per
share, which includes guest compensation. In addition, the impact
on global bookings will further affect the company's financial
performance. The company is currently evaluating contingency plans
to mitigate the impact and will provide an update with its first
quarter 2020 earnings release in late March.
About Carnival Corporation &
plc
Carnival Corporation & plc is the world's largest leisure
travel company and among the most profitable and financially strong
in the cruise and vacation industries, with a portfolio of nine of
the world's leading cruise lines. With operations in North America, Australia, Europe and Asia, its portfolio features Carnival Cruise
Line, Princess Cruises, Holland America Line, Seabourn, P&O
Cruises (Australia), Costa
Cruises, AIDA Cruises, P&O Cruises (UK) and Cunard.
Together, the corporation's cruise lines operate 105 ships with
254,000 lower berths visiting over 700 ports around the world, with
16 new ships scheduled to be delivered through 2025. Carnival
Corporation & plc also operates Holland America Princess Alaska
Tours, the leading tour company in Alaska and the Canadian Yukon. Traded on both
the New York and London Stock
Exchanges, Carnival Corporation & plc is the only group in the
world to be included in both the S&P 500 and the FTSE 100
indices.
With a long history of innovation and providing guests with
extraordinary vacation experiences, Carnival Corporation has
received thousands of industry awards – including recognition by
the Consumer Technology Association™ as a CES® 2019 Innovation
Awards Honoree for OceanMedallion™. A revolutionary wearable device
that contains a proprietary blend of communication technologies,
OceanMedallion enables the world's first interactive guest
experience platform transforming vacation travel on a large scale
into a highly personalized level of customized service. The
prestigious CES Innovation Awards honor outstanding design and
engineering in consumer technology products.
Additional information can be found on www.carnival.com,
www.princess.com, www.hollandamerica.com, www.seabourn.com,
www.pocruises.com.au, www.costacruise.com, www.aida.de,
www.pocruises.com, and www.cunard.com.
MEDIA CONTACT: Roger Frizzell, +1
(305) 406 7862, or INVESTOR RELATIONS CONTACT: Beth Roberts, +1 (305) 406 4832