- Revenue for the full year 2023 climbs by 25 percent to 20.7 billion euros (previous year: 16.5 billion euros)
- As announced, underlying Group EBIT improves significantly to 977 million euros (previous year: 409 million euros)
- Holiday Experiences segment with hotels, cruises and activities closes full year with strong operating performance: underlying EBIT rises to 822 million euros (previous year: 505 million euros). Hotels & Resorts and Cruises with higher occupancy and increased room rates per night compared to previous year
- Markets & Airlines segment also with improved operating business: underlying EBIT for the full year positive again for the first time since the start of the pandemic at 241 million euros (previous year: -59 million euros) - transformation of the tour operator business to be accelerated in 2024
- Net debt significantly reduced by 1.3 billion euros
- Strong demand: 19.1 million guests travelled with TUI in financial year 2023 (previous year: 16.7 million)
- Winter 2023/24: current bookings +11 percent year-on-year with +5 percent higher average prices
- Earnings guidance for the current financial year 2024: underlying EBIT to grow by at least 25 percent – in the medium term, TUI expects average growth in underlying earnings of 7 to 10 percent
- CEO Sebastian Ebel: "The transformation is taking effect, 2023 was a good year for TUI. Hotels and cruises are growth areas and highly profitable. Other segments, such as the tour operator business, are undergoing transformation in order to also return to very good profitability. Our strategic initiatives to increase value and the current booking trend lead us to expect a further improvement in 2024. Our forecast for the current financial year reflects our ambition and confidence in the brand, our market position and the commitment of our employees."
As announced, TUI Group has ended the financial year 2023 with a significant increase in operating earnings. Following a good final quarter, underlying Group EBIT climbed by 139 percent year-on-year to 977 million euros. At 20.7 billion euros, revenue reached a record level and was significantly higher than the last total revenue before the pandemic (2019: 18.9 billion euros). All segments contributed to the significant improvement in earnings with positive operating developments. Sebastian Ebel, CEO of TUI, at the presentation of the financial figures in London, UK: "2023 was a good year for TUI. We have significantly strengthened our core business and have new growth areas. The transformation is taking effect and the focus on quality, operational excellence and execution has visibly paid off. Hotels and cruises are growth areas and highly profitable, while some segments such as the tour operator business are undergoing transformation in order to also return to very good profitability. Our goal remains to make TUI more profitable, more efficient and stronger in all segments. By 2023, we will have created a good basis for TUI's further sustainable and profitable growth. Because now we are looking ahead: in 2024, our strategic initiatives and measures will make a very significant contribution to increasing value, we will win more customers with more products and expand our market share. The current winter bookings and the first indications for next summer lead us to expect a further improvement in 2024. We therefore expect underlying EBIT to grow by at least 25 percent and revenue to increase by at least 10 percent. Our guidance for the current financial year reflects our ambition and our confidence in the brand, our market position and the commitment of our employees. In a market environment that remains challenging, the entire TUI team has proven that we have the right strategy, the right business model and the right people who are committed, creative and passionate about serving our guests every day." In financial year 2023, TUI also significantly reduced its net debt by 1.3 billion euros compared to the previous year. As at 30 September 2023, net debt stood at 2.1 billion euros. This positive development was supported by the net proceeds from the rights issue in April 2023 and a positive cash inflow from operating activities. The WSF loans were repaid in full in the reporting period and the credit lines were not drawn.