Tourism Rush of holidaymakers brings Tui a jump in profits
The desire to travel is growing, and Europe's largest tour operator is clearly benefiting from this. Tui is also confident for the coming season.
11.12.2024, 07:58
SDA
In the past financial year, the tourism group Tui emerged from its coronavirus slump. Thanks to a seven percent increase in guests and higher prices, shareholders generated a surplus of 507 million euros after the twelve months to the end of September, almost two thirds more than a year earlier, as the Group announced in Hanover on Wednesday.
In its day-to-day business, Tui achieved an operating profit before interest, taxes and special items (adjusted EBIT) of just under 1.3 billion euros, an increase of around one third. Tui CEO Sebastian Ebel announced further increases for the new financial year 2024/25.
"Our goal remains to make Tui more profitable, more efficient and stronger in all segments - globally," said Ebel. After turnover rose by twelve percent last year, it is set to increase by a further five to ten percent in the new financial year.
Adjusted operating profit is expected to increase by seven to ten percent. At the same time, the Management Board wants to further reduce the mountain of debt from the coronavirus crisis. In the past year, the Group's net debt fell by half a billion to 1.6 billion euros.
