Core Viewpoint - Havila Kystruten AS has successfully entered into a comprehensive refinancing of its outstanding debt totaling EUR 456 million, expected to close by November 25, 2025, providing the company with long-term financial stability and flexibility [1] Debt Refinancing Details - The refinancing involves approximately EUR 331 million of senior secured bonds and EUR 116 million of unsecured shareholder loans, providing an additional EUR 4 million in liquidity net of transaction fees [2] - The effective interest cost is significantly reduced from high double-digit levels to approximately 10 percent, with call options available from year three [3] Financing Structure - The refinancing is structured as a 15-year financial lease facility, divided into a senior EUR tranche of 250 million, a senior USD tranche of 105 million, and a junior EUR tranche of 116 million [4] - The total hire equivalent of the financial lease facility is EUR 150,000 per day, with a fixed portion related to senior tranches and a variable portion related to the junior tranche [5] Debt Repayment and Future Operations - The refinancing fully repays existing bond debt and shareholder loans maturing in 2027 and 2028, ensuring the company is financed through its current contract with the Norwegian government [6] - The refinancing allows the company to focus on optimizing operations and preparing for the renewal of the governmental contract for the Coastal Route [6][7] Board Approval and Advisory - The refinancing package has been approved by the Board of Directors, which considered it the best alternative after a thorough assessment of financing structures [8]

Core Insights - The company has achieved a booking position of 40% for 2026 capacity, which is approximately 5% ahead of the same time last year, indicating strong demand and growth potential [1] - The company targets a 10-15% growth in Average Cabin Revenue (ACR) across cabin categories for 2026, which is expected to support continued revenue growth and EBITDA margin expansion [1] - Occupancy rates have reached 74%, with ACR increasing by more than 15% compared to October 2024, reflecting improved pricing power and demand [2] - Total ticket revenue has grown by 12% compared to October 2024, showcasing overall revenue strength [2] - As of now, 71% of 2025 capacity is booked, which represents about 95% of the full-year targeted occupancy, indicating strong forward bookings [2] - ACR for the full year is currently more than 20% above the same time last year, further emphasizing the positive revenue trajectory [2]

Core Points - The announcement pertains to a reverse share split and a change of ISIN for Havila Kystruten AS shares [1] - The shares of the company are trading exclusive of the reverse share split as of the date of the announcement [1] Corporate Action Details - The ex-date for the reverse share split is set for 11 November 2025 [2] - The corporate action type is classified as a reverse share split [2]

Core Points - The company, Havila Kystruten AS, has conducted a reverse share split in the ratio of 50:1 and a share capital increase to make the number of shares divisible by 50 [1] - The new share capital is registered at NOK 855,985,700.00 with a total of 17,119,714 shares, each having a nominal value of NOK 50.00 [2] Group 1 - The extraordinary general meeting approved the reverse share split and share capital increase [1] - The change in the ISIN of the company's shares was also announced [1] Group 2 - The registration of the share capital increase and reverse share split has been completed with the Norwegian Register of Business Enterprises [2] - Contact information for the Chief Executive Officer and Chief Financial Officer is provided for further inquiries [2]

Core Points - The extraordinary general meeting of Havila Kystruten AS has approved a reverse share split in the ratio of 50:1 [1] - Shareholders with a number of shares not divisible by 50 will have their holdings rounded down, and fractional shares will be sold with proceeds donated to charity [2] - The shares will be transferred to a new ISIN following the reverse share split, with key dates and information provided [3] Group 1 - The reverse share split will consolidate 50 old shares into one new share [1][3] - The last day to hold shares with the right to the reverse split is November 10, 2025, and the first day without the right is November 11, 2025 [3] - The previous ISIN is NO 0011045429, and the new ISIN will be NO 0013696799 effective from November 12, 2025 [3]

Group 1 - The extraordinary general meeting of Havila Kystruten AS resolved to conduct a share consolidation in the ratio of 50:1 [1] - A share capital increase was approved to facilitate the share consolidation due to the current number of shares not being divisible by 50 [1] - Havila Holding AS, associated with primary insiders, subscribed for 41 shares in the share capital increase [2]

Core Points - The extraordinary general meeting of Havila Kystruten AS was held on 7 November 2025, where all proposed matters were resolved as suggested by the board [2] - Key resolutions included the election of board members to ensure independence for potential refinancing, a share capital increase to facilitate share consolidation, and the implementation of a reverse share split [2] Group 1 - The extraordinary general meeting was convened to address the election of board members, share capital increase, and share consolidation [2] - The board proposed measures to ensure the board's independence in light of potential refinancing needs [2] - The resolutions passed included a share capital increase aimed at supporting the share consolidation process [2]

Core Points - The Board of Directors of Havila Kystruten AS has announced an extraordinary general meeting scheduled for November 7, 2025, at 10:00 CET [1] - The agenda includes the election of independent board members, a reverse share split in the ratio of 50:1, and a share capital increase to facilitate the share consolidation [2] - Shareholders with non-divisible shares will have their holdings rounded down, and fractional shares will be sold with proceeds donated to charity [3] - The meeting will be conducted digitally with electronic voting options available [4] Agenda Items - Election of Board members to ensure independence for potential refinancing [2] - Implementation of a reverse share split at a ratio of 50:1 [2] - Proposal for a share capital increase to support the share consolidation [2] - Authorization for the Board to set key dates related to the share consolidation and change of ISIN [2] Shareholder Information - Shareholders must hold a number of shares divisible by 50 to avoid rounding down [3] - Fractional shares will not be issued, and no compensation will be provided for rounding [3] - Proceeds from the sale of consolidated fractional shares will be donated to a charitable cause [3] Meeting Logistics - The extraordinary general meeting will be held as a digital meeting with electronic voting via Lumi [4] - Advance voting and proxy authorizations are permitted [4] - Relevant documents and meeting notice are available on the company's website [4]

Core Insights - The company reported an occupancy rate of over 76% in September, consistent with the previous year [2] - Average Cabin Revenue (ACR) saw an increase of approximately 22% compared to September 2024 [2] - Total ticket revenue experienced a year-on-year growth of 22% [2] Booking Position 2025 - As of now, 70% of the 2025 capacity is booked, which corresponds to about 93% of the full-year targeted cabin nights [2] - ACR for 2025 is currently more than 20% higher than the same time last year [2] Booking Position 2026 - 34% of the 2026 capacity is already booked, with ACR exceeding the same time last year by more than 10% [2] - Forward bookings indicate continued revenue growth and EBITDA margin expansion into 2026 [2]

Group 1 - Havila Kystruten expects an EBITDA result of approximately NOK 225 million for Q3 2025, which includes a partial compensation adjustment of NOK 76 million from the coastal route contract with the Ministry of Transport [1] - The coastal route contract is adjusted annually based on an index from Statistics Norway, and a review of historical compensation adjustments has been completed, impacting the Q3 estimate [2] - The review is estimated to have a financial effect of NOK 50 million for the period prior to 2025 and NOK 26 million for 2025, which will also increase future compensation [3] Group 2 - The compensation adjustment is expected to support previously communicated EBITDA targets of around NOK 400 million in 2025 and over NOK 600 million in 2026 [3]