Glossary

Ad-hoc announcement

Under the German Securities Trading Act (Wertpapierhandelsgesetz), stock corporations are obliged to publish reports that influence the share price without delay. This is usually done in the form of so-called ad-hoc announcements.

Average daily rates

The average rate for hotels refers to the rate per day and guest. The average rate for cruise ships is calculated as revenue excluding transportation, onboard and other revenue divided by actual passenger days.

Average revenue per bed

Arrangement revenue divided by occupied beds.

Cash Flow

Key figure used to assess the financial strength and profitability of a company. The cash flow is determined from the inflow and outflow of cash and cash equivalents from operating activities, investing activities and financing activities. Net income plus depreciation and increase in non-current provisions.

Compliance

Compliance is an important element of corporate governance. This means compliance with laws, guidelines and voluntary codes within the company.

Constant Currency

The exchange rate is the price of a currency expressed in another currency. An indicator based on constant exchange rates neglects the pure translation effect of translating the financial statements of subsidiaries denominated in local currency into euros.

EBITA

Our definition of EBITA is earnings before net interest result, income tax and impairment of goodwill and excluding the result from the measurement of interest hedges.

EBITDA

EBITDA is defined as earnings before interest, income taxes, goodwill impairment and amortisation and write-ups of otherintangible assets, depreciation and write-ups of property, plant and equipment, investments and current assets. The amounts of amortisation and depreciation represent the net balance including write-backs.

EBITDAR

For the reconciliation from EBITDA to the indicator EBITDAR, long-term leasing and rental expenses are eliminated.

EBT

Earnings before taxes

EPS

Earnings per share are calculated by dividing the Group profit for the year attributable to TUI AG shareholders by the weighted average number of registered shares outstanding during the financial year.

Invested Capital

The invested capital is derived from liabilities, comprising equity (including non controlling interests) and the balance of interest-bearing liabilities and interest-bearing assets. The cumulative amortisations of purchase price allocations are then added to the invested capital.

NPS

Net Promoter Score. NPS is measured in customer satisfaction questionnaires completed post-holiday. It is based on the question ‘On a scale of 0 to 10 where 10 is extremely likely and 0 is not at all likely, how likely is it that you would recommend the brand to a friend, colleague or relative?’ and is calculated by taking the percentage of promoters (9s and 10s) less the percentage of detractors (0s through 6s).

Occupancy Rate

The occupancy rate for hotels is calculated as the quotient of occupied beds and capacity. The occupancy rate for cruises is calculated as the quotient of the actual passenger days and the potential passenger days.

Passenger days

In the Cruises segment we differentiate between available and achieved passenger days. The number of available passenger days is calculated as the number of beds on the ship at full capacity multiplied by the operating days of the ship. The achieved passenger days show the number at achieved operating days and achieved occupancy.

ROIC

ROIC is calculated as the ratio of underlying earnings before interest, taxes and amortisation of goodwill (underlying EBITA) to average invested interest-bearing invested capital (invested capital) for the segment.

TSR

Total Shareholder Return

WACC

Weighted Average Cost of Capital. The cost of capital is calculated as the weighted average cost of equity and debt capital (WACC).