The world’s second largest cruise company saw full year net profit drop by 12.9% to $665.8 million.
The fall was largely as a result of a $411.3 million write down at its Pullmantur brand, which, as a result of problems in Latin America, is re-focusing on Spain.
Total revenue rose 2.8% to $8.3 billion.
Full-year profit guidance for 2016 was below analysts’ expectations.
Royal Caribbean said it estimated earnings of between $5.90-$6.10 a share, compared with market expectations of around $6.27, news agency Reuters said.
The company said it was also likely to incur an increase in costs during the first quarter of its current financial year because of expansion in China.
"Our core brands are firing on all cylinders, our new ships are performing exceptionally well and our costs are well controlled. This is driving 40%+ earnings growth in two consecutive years," said Richard Fain, chairman and chief executive officer.
