Viking has compiled $6 billion in advanced bookings for 2026 and was 86% booked for the year as of Feb. 15, the company said in its Q4 earnings call Tuesday.
The sales from advanced bookings are 13% ahead of last year, with a 7% capacity increase combined in ocean and river cruising.
Talking about Viking's performance in 2025, CEO Tor Hagen noted that while capacity grew 12% year over year, net yields rose 7.4%, "demonstrating our ability to attract high-quality demand and maintain pricing power."
The result was a 21.9% increase in total revenue, which reached a company record of $6.5 billion. Adjusted net income was $1.2 billion, 43.9% higher than 2024. Net income was $1.5 billion, up from $1.08 billion a year earlier.
"We are very proud of this performance, given the continued investments we are making to support our long-term growth. Our 2025 performance is best understood and appreciated in the context of our long-standing track record of strong, consistent results."
Hagen added that 54% of guests in 2025 were repeat customers. "It's a number that continues to grow and is a clear sign of the trust travelers place in our brand," he said.
Viking closed a strong year with a strong fourth quarter, posting $1.72 billion in revenue, a 27.8% increase driven by more capacity, higher occupancy and higher revenue per passenger cruise day. Net income was $300 million.
Hagen said one of Viking's shipyards experienced technological disruptions and resource-availability issues, which will postpone the delivery of eight river ships. Two that were scheduled for delivery in December 2025 will now begin sailing later this year, while six slated for the first half of 2026 will be delivered in the second half of the year.
"The yard has assured us these disruptions are temporary," he said, adding that the delays won't have a material impact on financial performance.
Viking plans to add 16 ocean ships through 2034, including two options. The company will add two expedition ships, one each in 2030 and 2031.
Viking president Leah Talactac said the line's expedition cruises "truly resonate" with guests. Viking currently operates two expedition ships, the Octantis and the Polaris. They were introduced in 2022.
"By adding two more expedition ships, we can thoughtfully scale a category where our brand has been recognized for delivering exceptional travel experiences," she said.