TUI Group delivers best Q3 result to date: EBIT growth of +38 per cent to 321 million euros, revenue up 7 per cent to 6.2 billion euros – Increase driven by record results in the Holiday Experiences segment with Hotels & Resorts, and Cruises– Integrated offerings across all segments of the tourism value chain are a strength of the tourism group – Further reduction in seasonality achieved
- Group revenue for the third quarter of 2025 rose across all segments to 6.2 billion euros (+7 per cent, previous year: 5.8 billion euros)
- Best-ever Q3 result in Group's history1: Underlying EBIT rose to 321 million euros (+38 per cent, previous year: 232 million euros), EBT rose to 270 million euros (+94 per cent, previous year: 139 million euros)
- Improvement demonstrates the successful strategy, the benefits of the vertically integrated business model, from Tour Operator own retail, TUI Airline, Hotels to Cruises, Tours and Activities,as well as the reduction of the Group's seasonality
- Record results in Hotels & Resorts and Cruises led to strong improvement in the Holiday Experiences segment: Underlying EBIT up 22 per cent to 294 million euros (previous year: 242 million euros)
- Markets + Airline positive earnings development driven by the Easter effect in a highly competitive market: Underlying EBIT at 50 million euros (previous year: 17 million euros) – Transformation progressing strongly
- Net debt improved by 0.2 billion euros to 1.9 billion euros
- EBIT guidance for the current financial year 2025 raised: Underlying EBIT up 9–11 per cent (previously: 7–10 per cent) at constant currency, revenue to increase at the lower end of 5–10 per cent
- TUI Group CEO Sebastian Ebel: “We are seeing strong growth and raised our targets for the full year. We achieved record results for our hotel and cruise brands. We are intensively driving forward the transformation of the traditional tour operator business across all source markets. All whilst increasing the share of differentiated products, becoming more efficient in our processes and reducing our costs through global production platforms. This will enable us to grow profitably."
TUI Group CEO Sebastian Ebel: "The third quarter and the first nine months of the financial year 2025 were strong. Our strategy is paying off. We are benefiting from our integrated and diversified business model and managed to reduce the Group's seasonality further. All this in a continuing challenging environment for our M+A segment with economic difficulties in Europe, Europe-wide heat waves in the summer and the conflict in the Middle East. We are accelerating the transformation of the Markets + Airline segment (tour operator, retail and TUI Airline) by implementing standardised, global platforms that generate profitable growth and reduce our cost base. This means that we can offer our existing and new customers more products in more destinations – globally. At the same time, the number of our source markets is growing. Individuality, flexibility and the proven security of the gold standard in package holidays are at the forefront of our efforts. We continue to rely on the proven sales strength of our own and partner travel agencies. To this end, we are further expanding our app offering. In May, we launched the TUI Tours platform in the German market. The platform enables customers to seamlessly personalise multi-day trips in real time and combine all our travel components. The FIT (Flexible Independent Travel) market is one of the fastest-growing segments in the travel industry. It is worth around 20 billion euros in our core markets, with a significant share in Germany. In the future, TUI Tours will also be rolled out in other markets. In the Holiday Experiences segment, the focus is on our asset-right strategy, which will enable us to further expand our highly profitable hotel portfolio, primarily in Africa but also in Asia. The strategy is to build destination clusters in line with TUI's strengths. In the Cruise segment, TUI Cruises expects another InTUItion Class vessel next year.“
Mathias Kiep, TUI Group CFO: “We were able to slightly reduce the Group’s net debt in this financial quarter. After regaining BB ratings, we successfully placed a 250 million euros promissory note loan in July 2025. The proceeds from the transaction will be used to repay aircraft leasing agreements ahead of schedule and to take legal ownership of the assets. This improves our operational efficiency, financing conditions and the Group's cash flow. A pleasing development."
Development in the third quarter of 2025
The transformation of the Markets + Airline segment was further accelerated, and the expansion of standardised and global platforms is being driven forward in order to generate growth and reduce the cost base. TUI is focusing on expanding its own app, complementing the retail business and enabling greater cross-selling and upselling opportunities as well as personalised marketing. The results for the various regions reflect the pure tour operator and flight business. Income from hotels is not included in the tour operator results. These figures are included in the Hotels & Resorts result.
Further growth expected in Q4 (July-September) in the Holiday Experiences segment thanks to strong trading development. Markets + Airline Summer business characterised by higher average selling prices in a highly competitive market with a continuing later booking trend; Start into Winter 2025/26 positive overall – Group raises guidance and growth for the full year 2025
Guidance for the full year 2025 – EBIT guidance raised to increase by +9–11 per cent (previously: 7–10 per cent) at constant currency
TUI’s guidance for FY 2025 is based on the strong performance in the first nine months of 2025 and on initial positive indications for July. Against this background, the Group raises its underlying EBIT guidance for FY 2025:
- TUI expects underlying EBIT to increase by +9-11 per cent year-on-year (FY 2024: 1,296 million euros).
- TUI expects revenue to increase at the lower end of the given 5-10 per cent year-on-year (FY 2024: 23,167 million euros).
Medium-term goals
The tourism group has a clear strategy to accelerate profitable growth. The goal is to make the business more agile, cost-efficient and to increase speed to market, thereby additional shareholder value. TUI’s medium-term targets remain unchanged:
- An annual average growth rate of underlying EBIT of approximately 7% to 10% (compound annual growth rate/CAGR) at constant currency.
- A net leverage ratio of well below 1.0x.
- With the recent upgrades of our credit ratings by the rating agencies, TUI has achieved its goal of returning to pre-pandemic levels.
[1] Since the merger of TUI AG with TUI Travel PLC in 2014
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About TUI Group
The TUI Group is one of the world's leading tourism groups and operates worldwide. The Group is headquartered in Germany. TUI shares are listed in the MDAX index of the Frankfurt Stock Exchange and in the regulated market of the Lower Saxony Stock Exchange in Hanover. TUI Group offers its over 20 million customers integrated services from a single source and forms the entire tourism value chain under one roof. The Group owns over 400 hotels and resorts with premium brands such as RIU, TUI Blue and Robinson and 18 cruise ships, ranging from the MS Europa and MS Europa 2 in the luxury class and expedition ships in the HANSEATIC class to the Mein Schiff fleet of TUI Cruises and cruise ships operated by Marella Cruises in the UK. The Group also includes Europe's leading tour operator brands and online marketing platforms, for example for hotel-only or flight-only offers, five airlines with 125 modern medium- and long-haul aircraft and around 1,200 travel agencies. In addition to expanding its core business with hotels and cruises via successful joint ventures and activities in vacation destinations, TUI is increasingly focusing on the expansion of digital platforms. The Group is transforming itself into a global tourism platform company.
Global responsibility for sustainable economic, environmental and social action is at the heart of our corporate culture. With projects in 25 countries, the TUI Care Foundation initiated by TUI focuses on the positive effects of tourism, on education and training and on strengthening environmental and social standards. In this way, it supports the development of vacation destinations. The globally active TUI Care Foundation initiates projects that create new opportunities for the next generation.
