TUI Group Q1 revenue up 15%

TUI Group kicked off the new financial year with a strong operating performance. It carried 3.5 million guests in Q1 2024 (October to December 2023), driving a 15% increase...

TUI Group kicked off the new financial year with a strong operating performance.

It carried 3.5 million guests in Q1 2024 (October to December 2023), driving a 15% increase in group revenue to €4.3 billion.

For the first time, underlying EBIT was a positive at €6 million in the quarter.

This is normally a negative due to seasonal factors.

Overall, TUI benefited from the strong demand for travel with higher prices.

TUI CEO Sebastian Ebel said: “We remain on course, the measures we have introduced are taking effect.”

“People’s willingness to travel is still high, despite a market environment that remains challenging.”

In the Holiday Experiences segment, Hotels & Resorts recorded an increase in underlying EBIT of 26.6% to €90.7 million from October to December 2023 continuing successful quarters with earnings above pre-Covid levels.

Hotel occupancy climbed by 3% to 78%.

The Cruises division had another positive result. Underlying EBIT improved significantly thanks to significantly higher average rates, up 17%.

TUI Musement increased the number of experiences sold by 16% .

The number of transfers also rose by 9% to 5.4 million in the quarter.

TUI is bullish on 2024 despite geopolitical uncertainties, particularly in the Middle East.

It expects year-on-year revenue growth of at least 10%.

The group’s shareholders are today deciding whether to delist TUI shares from the London Stock Exchange and instead seek a simplified listing and inclusion in the MDAX in Frankfurt.



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