Friday, December 13, 2024
TUI Group closed the 2024 monetary yr with a robust rise in working earnings, pushed by sturdy buyer demand. Underlying EBITA surged by 33% year-on-year, reaching 1.3 billion euros. Income grew by 12%, reaching 23.2 billion euros, up from 20.7 billion euros the earlier yr. All Group segments, notably Accommodations & Resorts and Cruises, performed a key position on this optimistic operational efficiency.
Sebastian Ebel, CEO of TUI: ‘We have delivered what we promised. 2024 was a very good year for us. Our focus on operational excellence, rapid implementation of the defined measures to improve earnings and transformation will continue to deliver significant growth. The TUI of tomorrow is well positioned. In the financial year 2024, we achieved important milestones: In the Holiday Experiences segment, we are growing with our asset-right strategy. We are future-proofing the tour operator business in the Markets + Airline segment and positioning it dynamically. Of course, we will continue to focus on package holidays and our good cooperation with travel agencies. In all our activities, customer satisfaction and quality are our top priorities. In what remains a challenging market environment, the entire TUI team has shown that we have the right strategy, the right business model and the right people, who work for our guests every day with commitment, creativity and passion. Our goal remains to become more profitable, more efficient and stronger in all segments with TUI – and to do so globally. One topic that plays an important role in all our activities is sustainability. As one of the world’s main journey teams, we need to set the usual for sustainability out there. We’re persevering with initiatives throughout our enterprise to ship on our SBTi (Science Primarily based Targets Initiative) 2030 targets.’
Mathias Kiep, Chief Monetary Officer of TUI Group: ‘We look back on a successful financial year 2024, in which we also significantly improved our financial profile. The positive cash flow resulted in a significant reduction in net debt. With a leverage ratio of 0.8x, we remain on track to achieve our medium-term target of strongly below 1.0x. We also expect a positive development for the new financial year 2025[1]. Our guidance here include a year-on-year increase in revenue of 5-10 per cent and an increase in underlying EBIT of 7-10 per cent, particularly supported by the expectations for summer 2025.’
TUI Group has closed the 2024 monetary yr (1 October 2023 to 30 September 2024) on a excessive be aware, with journey persevering with to be a most popular selection for purchasers. The Group noticed a notable improve in buyer demand, with 20.3 million vacationers selecting TUI, up from 19.0 million within the earlier yr. Because of this, underlying EBIT for the yr reached 1.3 billion euros, a 33% improve from the 977 million euros reported within the prior yr. Income grew by 12% to 23.2 billion euros, up from 20.7 billion euros in 2023.
Vacation Experiences Drives Strong Progress
TUI’s Vacation Experiences phase—which incorporates Accommodations & Resorts, Cruises, and TUI Musement—was a key contributor to the Group’s success. Underlying EBIT on this phase surged by 270 million euros to succeed in 1.1 billion euros, in comparison with 822 million euros in 2023.
The Accommodations & Resorts division delivered spectacular outcomes, posting an underlying EBIT of 668 million euros, up from 549 million euros within the prior yr. This progress was largely pushed by sturdy operational efficiency throughout key manufacturers, particularly Riu. The typical day by day fee additionally noticed a 7% year-on-year improve, reaching 93 euros.
Cruises: Continued Growth and Document Efficiency
The Cruises phase, which incorporates the TUI Cruises three way partnership with Mein Schiff and Hapag-Lloyd Cruises in Germany, alongside Marella Cruises within the UK, skilled important progress. This enlargement is pushed by ongoing investments in new ships for the TUI Cruises model. In June, the launch of Mein Schiff 7 introduced the fleet dimension to 17 vessels.
The phase noticed a significant improve in underlying EBIT, rising to 374 million euros from 236 million euros in 2023. Occupancy charges throughout TUI’s three cruise manufacturers—TUI Cruises, Hapag-Lloyd Cruises, and Marella Cruises—averaged 99% (up from 94% the earlier yr). The variety of obtainable passenger cruise days additionally rose by 2%, reaching 9.7 million, in comparison with 9.5 million in 2023.
TUI Musement: Sturdy Efficiency in Excursions and Actions
TUI Musement, the Group’s excursions and actions division, additionally made a big contribution to the general efficiency. Though particular figures for TUI Musement weren’t disclosed on this phase overview, the division continues to profit from the rising demand for curated journey experiences and the rising reputation of tailor-made excursions and actions.
TUI’s strategic investments throughout key segments, together with Accommodations & Resorts, Cruises, and Musement, mirror the Group’s dedication to enhancing buyer experiences and driving continued progress. With sturdy demand and operational enhancements, TUI Group is poised for an additional profitable yr forward.
