Torstein Hagen, CEO of Viking, asserted the company’s strong brand identity during the fourth quarter and year-end earnings call.
Hagen emphasized that Viking cruises do not cater to children or offer casinos, maintaining a focus on customer experience over profit-driven incentives.
The company holds $2.5 billion in cash and prefers to reinvest this capital in business development rather than distributing it to shareholders.
Hagen expressed confidence that maintaining this cash reserve could present future opportunities for Viking, despite the current financial landscape.
The emphasis on transparency regarding costs is a core aspect of the Viking experience, ensuring that customers know what to expect financially.
Torstein Hagen shared “We want to have clear focus on exactly who we are. And you can say one of the things we are most proud of. There is no children, no casinos, no nickel and dining and then we don’t have an island you can go to get fleeced. It’s good for the P&L, don’t get me wrong, but it’s not good for the experience.
“When people go for Viking experience they know exactly what it will cost. So it’s not entirely trivial, but I think if there are bad times for a few months, then maybe there can be some opportunities that come along.
“I believe we can make better use of it in the company than I as a shareholder can do outside the company. So I think it may sound a little bit rich to sit on $2.5 billion, but it can give opportunities.”
