- Underlying EBITA grows by 24 per cent in Q1 2014/2015
- Hotels & Resorts and Cruise Sectors are growth drivers
- Outlook for full year confirmed: Underlying EBITA growth of 10-15 per cent
- Core themes for future success defined: Profitable top-line growth in Mainstream / further growth in Cruises / creation of long-term competitive Airline group / focused IT / maximising growth and value of Non-Mainstream
- Joussen: “We intend to take the Company from good to great”
Hanover, 10 February 2015. The TUI Group’s financial year is off to a good start with a considerably improved operating result in Q1 2014/15. In the period under review, underlying EBITA improved by 24 per cent to a typical seasonal loss of 107.9 million euros (previous year -141.1 million euros). This positive development was driven, in particular, by the Hotels & Resorts and Cruises Sectors, which achieved a significant increase in their profitability. At the same time, turnover by the TUI Group grew by 5.4 per cent to 3.54 billion euros (previous year 3.36 billion euros). On the basis of the very strong results for the quarter, the Group has confirmed its outlook for the full year 2014/15: The operating result (underlying EBITA) is to grow by 10 to 15 per cent versus the prior year. The future positive development will also be driven by the targets defined in the wake of the merger between TUI AG and TUI Travel PLC last December. Fritz Joussen and Peter Long, Joint CEOs of the TUI Group: ”Our new financial year is off to a strong start. We will now have to preserve this momentum and our positive performance in order to maintain our profitable growth in future, too. To this end, we have launched various measures including the identification of areas, which we will define in greater detail in the next few months. Our goal is to improve our excellent prior-year operating result by a further 10 to 15 per cent by the end of the current financial year.” In his AGM speech Fritz Joussen stated: “We have also defined our overarching goal: We want to take the Group from good to great.”