REG-Carnival PLC: Carnival Update On Financial Impact Of Coronavirus

CarnivalAnnouncement

12/02/2020 14:15

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



Copyright (c) 2020 PR Newswire Association,LLC. All Rights Reserved