TUI Group Posts €448 Million Annual Profit Following Merger

The TUI Group has outperformed its earnings guidance for the full financial year. “The first year following the restructuring of the TUI Group was completed with a very strong set of results,” said Fritz Joussen, chief executive TUI Group.

The operating result (underlying EBITA) climbed by 22.9 percent to 1.069 billion euros (previous year €870 million). It amounted to €1.004 billion on a constant currency basis, up 15.4 percent.

The results thus also outperformed the announced corridor (12.5 to 15.0 percent). Growth in tourism was driven by Northern Region, Hotels & Resorts and Cruises, which achieved substantial earnings growth.

The group implemented the planned value increase based on profitable growth: group turnover rose by eight percent €20.01 billion. At constant currency, it grew by 3.6 percent to €19.20 billion.

Due to the very strong operating performance, lower interest payments and positive tax effects, group profit before minority interests and discontinued operations grew by €56.7 percent year-on-year to €448.4 million.